The Energy Regulatory Office and its 2007 statement of balances
Press Release – May 21, 2009
From August 2008 to February 2009, auditors from the Supreme Audit Office (SAO) performed an audit that focused on the 2007 statement of balances, which was compiled by the Energy Regulatory Office as supporting documents to the 2007 state budget final accounts. The auditors also controlled the property management and the utilised state budget funds and no serious shortcomings were identified.
“In keeping with the recommendations of the INTOSAI international audit standards, the maximum allowable ratio of bad recordings, which the users of the statements may still consider as acceptable, was specified as 0.5–2 % of the value that best represents the extent of financial activities of the accounting unit under consideration. Concerning the Energy Regulatory Office, the extent of financial activities totalled CZK 101 130.07 thousand, and the corresponding level of materiality (2 % from expenditures) made CZK 2 023 000 in 2007.
“In view of the over-all extent of irregularities encountered in the financial statement compiled by the Energy Regulatory Office as at December 31, 2007, and in view of the comparisons thereof with the pre-set maximum allowable irregularity ratio of the records it is clear that the said financial statement gives a true and fair view of the subject matter of accounting for the financial year 2007 and is pursuant to the Act No. 563/1991 Sb. and other applicable legislation“, said president of the SAO František Dohnal and added: “Many insufficiencies are usually identified during a financial audit of an institution, which has not been audited by the SAO auditors yet. I am glad the Energy Regulatory Office was not the case.”
The auditing operation was included into the 2008 Audit Plan of the SAO under No. 08/24. Jan Vedral, Member of the SAO Board, controlled the operation and prepared the audit conclusion as well.
Radka Burketová
Press Speaker
Supreme Audit Office