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Most of EU funds in 2011 in Lithuania used in lawfully, correctly - audit

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(Globalpost/GlobalPost)

The National Audit Office of Lithuania (NAOL) conducted an audit of the efficiency of the management and control system (MCS) for the use of 2007-2013 EU Structural Funds assistance and of the expenditure in the amount of LTL 4.6 billion (EUR 1.3 billion) declared to the European Commission (EC), the National Audit said in a report.

"Although auditors did identify certain irregularities, having regard to the fact that the MCS met the requirements laid down in the EU legislation and functioned sufficiently effectively and that no material errors had been detected in the expenditure declared to the EC, for the first time the public auditors were able to issue an unqualified opinion", said Auditor General Giedre Svediene.

Financial errors were detected in more than one third of 87 verified applications for payment - expenditure failing to meet the requirements of EU and national legislation totalled LTL 4.6 million (EUR 1.3 million). However, the most likely error (statistically calculated rate) in the declared expenditure accounted for 1.17 percent of all expenditure declared to the European Commission in 2011 and did not exceed the tolerable 2 percent materiality level established in the EU legislation.

During the audit, the NAOL provided 119 remarks and 92 recommendations on the improvement of the management and control system and remedying irregularities related to the declared expenditure to the MCS institutions.

http://www.globalpost.com/dispatch/news/asianet/130409/most-eu-funds-2011-lithuania-used-lawfully-correctly-audit