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Amendments to the Law on Foreign Exchange and the Audit Act discussed in the National Assembly

Narodna Skupština

The National Assembly of Republika Srpska reviewed the proposed amendments to the Audit Act in the Public Sector in Srpska, regulating the objectives and processes of financial audits and audits of performance.

The further development of the quality of work of the Audit Sector and the improvement of the management of public funds are the reasons behind these amendments, said the Minister of Finances of Srpska, Zoran Tegeltija.

This Draft Law stipulates that in the case of a negative audit opinion on the carried out financial audit, a copy of the section of the audit report titled „Report of the Chief Auditor“ must be submitted to the Chief Prosecutor of Republika Srpska.

This legal decision precisely regulates the legal status of the Audit Office, which is a legal entity registered in the competent courts register.

The National Assembly also considered the Draft Law on Amendments to the Foreign Exchange Act, which aims to simplify the procedure of payment for work performed abroad.

This law specifies that the payment, collection and transmission of the current and capital account transactions by residents and non-residents must be done through authorized banks, said Tegeltija.

He added that this legal decision bars the use of credit cards for payments on capital transactions.


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