st 2014 November 30th 2015 Project title: Step Up! Project ...soc.ba/.../uploads/2016/...SOC-Norveska-amb-signed.pdf · NGO and Business Audit d.o.o. Sarajevo, Audit and Consulting

NGO and Business Audit d.o.o. Sarajevo, Audit and Consulting Company

AUDIT REPORT for implementing period

August 01st 2014 – November 30th 2015

Project title: “Step Up!”

Project number: BHZ-14/0046

Project beneficiary: Sarajevo Open Center

Sarajevo, January 2016

NGO and Business Audit doo. Sarajevo Audit and Consulting Company

“Step Up!” implemented by Sarajevo Open Center

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Table of Contents

1. INTRODUCTION 4

2. INDEPENDENT AUDITOR OPINION 5

3. DESCRIPTION OF THE AUDITEE 7

4. DECLARATION OF AUDITOR’S COMPETENCE 8

5. AUDIT OBJECTIVES 9

6. AUDIT METHODOLOGY 9

7. GENERAL PROJECT INFORMATION 10

8. STATEMENTS SUBMITTED TO THE AUDITOR 12 8.1..Statement of Expenditure 12

8.2. Income Statement 13

9. FINDINGS AND RECOMMENDATIONS 14 9.1. Verification of the adequacy and effectiveness of the Internal Control System 14

9.2. Verification of the financial regularity 14

9.3. Verification of the conformity with the project objectives and adherence to the

contract conditions 14

9.4. Verification of the total income and eligibility of the declared costs 15

9.4.1. Verification of the project income 15

9.5. Verification of the eligibility of the declared costs 16

9.5.1. General 16

9.5.2. Project costs per budget categories 16

9.6. Fund Balance 19

10. CONCLUSION

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Annexes: 1. Management letter

2. Financial report

3. Audit certificates



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1. INTRODUCTION

Sarajevo Open Center, Sarajevo (hereinafter: Implementing organization) engaged Audit Company

(i.e. NGO and Business Audit, Sarajevo) in order to conduct financial audit of the Project titled: “Step

Up!” (furtherinafter: Project). Project is funded by Royal Norwegian Embassy in Sarajevo

(furtherinafter: Donor).

Audit covers period from August 01st 2014 – November 30th 2015.

The audit is to be carried out in accordance with ISA (International Standards on Auditing), and in

accordance with the provisions of the Grant Letter for BHZ-14/0046, as of July 17th 2014 signed by

Implementing organization and Royal Norwegian Embassy.



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2. INDEPENDENT AUDITOR OPINION

We have audited the financial statements of the Project “Step Up!” implemented by Sarajevo Open

Center, Sarajevo in the period August 01st 2014 – November 30th 2015. This project is funded by the

Royal Norwegian Embassy in Sarajevo.

Management’s responsibility for the financial report

Sarajevo Open Center’s Management drew up the financial statements based on funds received from

Royal Norwegian Embassy in Sarajevo. The Management is responsible for the preparation of a

financial report in accordance with International Financial Reporting Standards, Royal Norwegian

Embassy instructions for financial reporting, and for the internal control, which Management deems

necessary to prepare a financial report, free from material misstatement, whether due to fraud or error.

The auditor’s responsibility

Our responsibility is to express an opinion on the financial report based on our audit. We conducted

our audit in accordance with International Standards on Auditing. Those standards require that we

follow professional ethical requirements and plan and perform the audit to obtain reasonable assurance

that the financial report is free from material misstatement.

An audit includes executing various measures to obtain audit evidence supporting the amounts and

disclosures in the financial report. The auditor selects the measures to be executed by, among other

things, assessing the risks of material misstatement in the financial report, whether due to fraud or

error. In conducting this risk assessment, the auditor considers the elements of the internal control

which are relevant for the manner in which the organization prepares the financial report, in order to

formulate auditing measures which are appropriate under the circumstances, but not with the objective

of presenting an opinion regarding the effectiveness of the organization’s internal control. An audit

also includes assessing the accounting principles used and their application by Management and

significant estimates made by Management when preparing the financial report, as well as evaluating

the overall presentation of information in the financial report.

We believe that the audit evidence obtained comprises sufficient and appropriate supporting

documentation for our opinion.

Opinion

We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial

statements present a true and fair view of the amount and composition of the balance of operating

income and expenses for Project “Step Up!”. The Project expenditures are in accordance with the

provisions of the Grant Letter signed by Royal Norwegian Embassy in Sarajevo and Sarajevo Open

Center on July 17th 2014.

In our opinion:

the financial statements of the Project: “Step Up!” give a fair view of the activities of the project during the implementing period.



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the Project’s financial statements are being maintained, and the activities of the Implementing organization are being conducted, in accordance with local finance and tax laws and

regulations,

there are adequate internal controls over the key transaction streams which have been operating effectively during the year,

there are adequate procedures showing that the Implementing organization exercises due consideration in its administration of funds.

Sarajevo, January 13th 2016.

NGO and Business Audit d.o.o Licensed Auditor:

___________________________ ___________________________

Šejla Jakupovic, Director Ismeta Čardaković Bsc oec



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3. DESCRIPTION OF THE AUDITEE

Sarajevo Open Centre is an independent, non-partisan and non-profit organisation dedicated to

advocating for the full respect of human rights and decreasing the level of discrimination on the

grounds of sex, sexual orientation and gender identity.

Vision

Bosnia and Herzegovina is a society based on equal rights and possibilities for everyone, built on

active and engaged citizens and an accountable state.

Mission

Sarajevo Open Centre (SOC) advocates the full respect of human rights and social inclusion of LGBT

people and women.

Sarajevo Open Centre is an independent, non-partisan and non-profit organization that empowers

LGBT (lesbian, gay, bisexual and trans*) people and women through community and movement

building. SOC also promotes the human rights of LGBT people and women publically and advocates

on national, European and international level for improved legislation and policies in Bosnia and

Herzegovina.

SOC was established in 2007, and we have been working intensively since 2011, when we opened our

first office and had our activists constantly working in the Sarajevo Open Centre. The team grew from

3 (2011) to 12 (January 2016) members.



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4. DECLARATION OF AUDITOR’S COMPETENCE

I, the undersigned, Ismeta Čardaković, on behalf of Auditing Company «NGO and Business Audit»

d.o.o., Sarajevo, hereby declare:

(1) That I am independent of the Sarajevo Open Center, Sarajevo which is the object of this audit.

Date: January 13th 2016.

Signature:

___________________

Ismeta Čardaković



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5. AUDIT OBJECTIVES

The purpose of the audit is to obtain sufficient evidence of the accuracy of the statement of

expenditure and income in accordance with the provisions of the Grant Letter with Donor Royal

Norwegian Embassy in Sarajevo in relation to the implementation of Project “Step Up!”.

The audit will cover the use of funds from Donor’s source of financing only.

Audit covers implemented period August 01st 2014 – November 30th 2015.

To this end, the auditor must reconcile all the expenses mentioned in the statements with the criteria

stipulated by the Grant Letter of July 17th 2014.

The auditor must also verify that all the project income has been declared.

6. AUDIT METHODOLOGY

The Auditor is required to plan, execute and report on the financial review engagement in order to

form a professional judgment on the following matters relating to the activities and the organization of

Sarajevo Open Center:

- Adequacy and effectiveness of the Internal Control System (ICS),

- Financial regularity,

- Conformity with the project objectives and adherence to the contract conditions,

- Economical and efficient conduct of business and use of financial resources,

- Project Income.



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7. GENERAL PROJECT INFORMATION

Project Name: “Step Up!”

Grant Letter: July 17th 2014.

Project beneficiary: Sarajevo Open Center

Project duration

(in months): 16 months1

Start date: August 01st 2014

End date: November 30th 2015

Audited period: August 01st 2014 – November 30th 2015

Total budget

of the Project: NOK 557.686; BAM 130.000; € 66.468.

Note: In Grant Letter signed with Donor, agreed amount of contribution was

presented in NOK 557.686. Presented amounts in this report, in BAM and €,

are calculated on the bases of exchange rate on the day of transfer funds as of

July 17th 2014.

Audited Expenses: € 66.530 (BAM 130.122)

1 Implementing organization obtained approval for project extension (mail sent by Ognjen Grujic, Project

Officer, Royal Norwegian Embassy, on July 8th 2015). Initially agreed project imeplementation period was

untill July 31st 2015.



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7.1. Final Budget of the Project:

No Description Unit # of

units

Per

unit

BAM

Budget in

BAM

Budget in

EUR

1. Human Resources (SOC) 31.920 16.320

1.2. Programme Coordinator, 100% Per month 12 1760 21.120 10.798

1.3. Financial Coordinator, 50% Per month 12 900 10.800 5.522

2. Human Resources (partner) 6.720 3.436

2.1. Programme Assistant, 50% Per month 12 560 6.720 3.436

3. Travel 28.325 14.482

3.1. Travel of project staff and experts

3.1.1. Plane tickets/International travel Per trip 6 400 2.400 1.227

3.1.2. Local travel per pers/trip 10 55 550 281

3.1.3. Per diems per pers/day 23 100 2.300 1.176

3.2. Travel of participants (PT)

3.2.1. Local travel per pers/trip 65 55 3.575 1.828

3.2.2. Per diems per pers/day 195 100 19.500 9.970

4. Equipment 1.500 767

4.1. Purchase of equipment

4.1.1. Photo camera Per item 1 1500 1.500 767

5. Office costs 6.720 3.436

5.1. Office rent Per month 12 250 3.000 1.534

5.2. Consumables - office material Per month 12 60 720 368

5.3. Other office services Per month 12 250 3.000 1.534

6. Other costs, services 50.815 25.981

6.1. Publications

6.1.1. Three policy papers Per item 1500 4 6.000 3.068

6.1.2. LGBT human rights education manual Per item 500 6 3.000 1.534

6.1.3. LGBT human rights planer 2015 Per item 500 4 2.000 1.023

6.3. Costs of conference/ seminar/training

6.3.1. Trainers Per train/day 9 500 4.500 2.301

6.4. Media and visibility costs 0

6.4.1. TV outreach campaign Lump sum 1 5000 5.000 2.556

6.4.2. Web portal&soc web page Lump sum 1 1500 1.500 767

6.4.3. Online outreach Per feature 24 100 2.400 1.227

6.4.4. Other visibility costs Lump sum 1 565 565 289

6.5. Cultural outreach costs

6.5.2. Screening rights Merlinka festival Per screen 5 1000 5.000 2.556

6.5.4. Rent of venue Merlinka festival Per screen 5 1000 5.000 2.556

6.5.5. Promotional material Merlinka festival Per screen 5 250 1.250 639

6.5.7. Refreshments Merlinka festival Per screen 5 100 500 256

6.5.8. Exhibition production Lump sum 1 5000 5.000 2.556

6.5.9. Exhibition presentation Per day 10 400 4.000 2.045

6.5.10. Exhibition promotion Lump sum 1 1500 1.500 767



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No Description Unit # of

units

Per

unit

BAM

Budget in

BAM

Budget in

EUR

6.6. External accounting agency per month 12 210 2.520 1.288

6.7. Bank charges project 12 90 1.080 552

7. Audit costs 4.000 2.045

7.1. Expenditure verification (Audit) 1 4000 4.000 2.045

TOTAL Budget 130.000 66.468

8. STATEMENTS SUBMITTED TO THE AUDITOR

8.1. Statement of Expenditure for the period August 01st 2014 – November 30th 2015:

No Description Expenditures

in BAM

Expenditures

in EUR

1. Human Resources (Sarajevo Open Centre) 30.583 15.637

1.2. Programme Coordinator, 100% 19.459 9.949

1.3. Financial Coordinator, 50% 11.124 5.687


2.1. Programme Assistant, 50% 6.720 3.436

3. Travel 29.379 15.021


3.1.1. Plane tickets/International travel 3.423 1.750

3.1.2. Local travel 1.208 618

3.1.3. Per diems 1.595 816


3.2.1. Local travel 2.685 1.373

3.2.2. Per diems 20.468 10.465



4.1.1. Photo camera 1.650 844


5.1. Office rent 2.900 1.483

5.2. Consumables - office material 744 380

5.3. Other office services 2.829 1.446


6.1. Publications

6.1.1. Three policy papers 5.875 3.004

6.1.2. LGBT human rights education manual 3.273 1.673

6.1.3. LGBT human rights planer 2015 2.001 1.023

6.3. Costs of conferences/seminars/trainings 0

6.3.1. Trainers 4.607 2.356

6.4. Media and visibility costs

6.4.1. TV outreach campaign 5.133 2.624

6.4.2. Web portal&soc web page 1.628 832

6.4.3. Online outreach 2.393 1.224



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in BAM

Expenditures

in EUR

6.4.4. Other visibility costs 440 225


6.5.2. Screening rights Merlinka festival (5 movies); 5.238 2.678

6.5.4. Rent of venue Merlinka festival 4.607 2.355

6.5.5. Promotional material Merlinka festival 1.244 636

6.5.7. Refreshments Merlinka festival 500 256

6.5.8. Exhibition production 5.500 2.812

6.5.9. Exhibition presentation 3.635 1.859

6.5.10. Exhibition promotion 1.174 600

6.6. External accounting agency 2.670 1.365

6.7. Bank charges 1.487 760

7. Audit costs 3.912 2.000

7.1. Expenditure verification (Audit) 0

TOTAL Expenditures 130.122 66.530

8.2. Income Statement for implementing period August 01st 2014 – November 30th 2015

Code Description Amount in

BAM

Amount in

EUR

Opening balance 0 0

Income

First instalment on 23.07.2014 130.000 66.468

Total Contribution from Norwegian 130.000 66.468

Positive exchange gain 23.07.2014 110 56

Interest earned 12 6

A TOTAL INCOME 130.122 66.530

Expenditures



3. Travel 29.379 15.021




7. Audit costs 3.912 2.000

B TOTAL EXPENDITURES 130.122 66.530

C Fund Balance (C=A-B) 0 0



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9. FINDINGS AND RECOMMENDATIONS

9.1 Verification of the adequacy and effectiveness of the Internal Control System (ICS)

We have tested Sarajevo Open Centre, internal control system in terms of:

- project and financial accounting and reporting processes; - adherence to the Contribution contract and BH legislation; - physical safeguard of assets; - prevention of accounting errors and financial fraud; - adequacy and completeness of information and financial reporting systems; - adequacy and completeness procurement procedures.

It was found that Sarajevo Open Centre applies management procedures adequate to the various

project transactions and that existing Internal Control System is adequate and effective.

All procurement rules and procedures are enforced, the prices paid in line with the market and the

quality of purchased goods/services are satisfactory.

Documentation:

Grant Letter July 17th 2014,

Internal Procedures (Rules on Accounting, Accounting Policies, Financial Operating Policy, Cash Operating Policy),

Financial Statement prepared by the Management,

Project documentation,

Procurement procedures documentation.

9.2 Verification of the financial regularity We have tested project financial documentation in terms of:

adequacy and completeness of supporting documentation;

allocation of expenditures in conformity with the budget as approved and amended;

conformity of local contracts with positive local legislation;

arithmetic accuracy of the accounts, supporting documents, financial statements and reports;

correctness of the bookkeeping entries;

adequacy and completeness of clear procurement procedure.

All income and expenditures occurred within project implementation period, properly accounted for,

adequately documented and in compliance with Project Document, Grant Letter.

Documentation:

Project Document,


Approved Budget,

General Ledger,

Source Financial Documentation.

9.3. Verification of the conformity with the project objectives and adherence to the Grant Letter

conditions

On the basis of an examination of the coherence between the Grant Letter as July 17th 2014 and the

Project document “Step Up!” we have tested the actions carried out and the declared expenditure.



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The purpose was to verify if:

- Financial transactions, expenditures and receipts are adequate and in compliance with project documents (project description, programs of activities, contracts, terms of reference, budgets etc.);

- All clauses of the Grant Letter have been respected; - Expenditures correspond to the agreed budget lines; - There are any major deviations between approved and amended budgeted and actual expenses.

We verify that tested financial transactions are in conformity with the project objectives and are in

compliance with the Grant Letter conditions.

Documentation:


Financial Statements,

Project Document,

Approved Budget.

9.4. Verification of the total income and eligibility of the declared costs

9.4.1. Verification of the project income

The Auditor has examined:

that the financial resources correspond to the Grant Letter July 17th 2014, concluded with the Donor,

that the interest accrued on Donor payments has also been declared.

Project funds are kept on SOC bank account.

Donor transferred funds in one instalment on July 23rd 2014, where Sarajevo Open Center gained

additional BAM 110 as a result of NOK positive exchange rate. All transfers are correctly recorded as

income.

During the reporting period, Sarajevo Open Center earned interest on Donor funds in amount BAM

12.

Documentation:

Bank Statements,

Grant Letter July 17th 2014.


BAM

Amount in

EUR

Opening balance 0 0

Income

First instalment on 23.07.2014 130.000 66.468

Total Contribution from Norwegian 130.000 66.468

Positive exchange gain 23.07.2014 110 56

Interest earned 12 6




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9.5. Verification of the eligibility of the declared costs

9.5.1 General

The arithmetic coherence within and between the tables in the Sarajevo Open Center, Financial Report

and the correct allocation of costs have been verified.

The Auditor has also examined, on the basis of a representative study and by interviewing the

beneficiary:

whether the expenses were directly linked to the project and necessary for carrying it out,

whether the expenses were provided for in the approved/amended budget and were incurred by the beneficiary,

whether the costs have been correctly allocated,

whether the expenses are supported by accounting documents in accordance with current national accounting law,

whether the expenses have been recorded in the beneficiary’s accounts,

whether the expenses were incurred during the reporting period,

whether the payments were made by the beneficiary,

whether the correct exchange rates were used.

It was found that: all costs as declared in audited Sarajevo Open Center, Financial Statements are

eligible.

Documentation:


Financial report,

Approved budget,

Sarajevo Open Center’s Source Project Financial documentation (general and subsidiary ledgers, bank statements, invoices, contracts, cash journals, salarie lists),

Employment Contracts.

9.5.2. Project costs per budget categories

9.5.2.1. Human resources costs were examined to verify:

whether they were paid and charged in respect of the actual time devoted to the project and if they were calculated on the basis of the annual gross salary or wages (plus obligatory social

charges, but excluding any other costs),

whether the work was carried out during the contractual period,

that the person in question is part of the beneficiary’s or personnel or hired consultants,

whether they do not fall into another defined category,

whether they are real and eligible listed expenses,

whether all the costs have been paid.


in BAM

Expenditures

in EUR


1.2. Programme Coordinator, 100% 19.459 9.949

1.3. Financial Coordinator, 50% 11.124 5.687


2.1. Programme Assistant, 50% 6.720 3.436



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It was found that: salaries and fees were calculated and disbursed in accordance with the Employment

contracts, local Income Law and regulations and no other costs were included. Project expenditures

relates to gross salaries and mandatory social charges only. Adequate management and accounting

system for ensuring the proper allocation of the personnel costs of the project are in place.

All salaries/fees were paid regularly and systematically. All employment contracts were presented to

the auditor.

9.5.2.2. Travel costs were examined to verify:

Whether they do fall into project implementation period and budget category,

Whether they are real and eligible listed expenses,

If costs are supported by adequate documentation,

If all the costs have been paid.


in BAM

Expenditures

in EUR

3. Travel 29.379 15.021


3.1.1. Plane tickets/International travel 3.423 1.750

3.1.2. Local travel 1.208 618

3.1.3. Per diems 1.595 816


3.2.1. Local travel 2.685 1.373

3.2.2. Per diems 20.468 10.465

It was found that:

Travel costs are adequate and necessary and they fall into Project implementing period.

The accounting documentation (invoices, service contracts and other documents) is correct.

All declared costs are paid and payment evidences were presented to the Auditor.

9.5.2.3. Equipment and Office costs were examined to verify

Whether they do fall into project implementation period and budget category,

Whether they are real and eligible listed expenses,

Whether they are necessary for the Project,

If costs are supported by adequate documentation,

If all the costs have been paid.


in BAM

Expenditures

in EUR



4.1.1. Photo camera 1.650 844


5.1. Office rent 2.900 1.483

5.2. Consumables - office material 744 380

5.3. Other office services 2.829 1.446



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It was found that:

Equipment and office costs are adequate and necessary and they fall into Project implementing period.

The accounting documentation (invoices and other documents) is correct.

All declared costs are paid and payment evidences were presented to the Auditor.

9.5.2.4. Other Project costs and Audit costs were examined to verify:

whether they do not fall into another defined category,

whether they are real and eligible listed expenses,

whether all the costs have been paid.


in BAM

Expenditures

in EUR


6.1. Publications

6.1.1. Three policy papers 5.875 3.004

6.1.2. LGBT human rights education manual 3.273 1.673

6.1.3. LGBT human rights planer 2015 2.001 1.023

6.3. Costs of conferences/seminars/trainings 0

6.3.1. Trainers 4.607 2.356

6.4. Media and visibility costs

6.4.1. TV outreach campaign 5.133 2.624

6.4.2. Web portal&soc web page 1.628 832

6.4.3. Online outreach 2.393 1.224

6.4.4. Other visibility costs 440 225


6.5.2. Screening rights Merlinka festival (5 movies); 5.238 2.678

6.5.4. Rent of venue Merlinka festival 4.607 2.355

6.5.5. Promotional material Merlinka festival 1.244 636

6.5.7. Refreshments Merlinka festival 500 256

6.5.8. Exhibition production 5.500 2.812

6.5.9. Exhibition presentation 3.635 1.859

6.5.10. Exhibition promotion 1.174 600

6.6. External accounting agency 2.670 1.365

6.7. Bank charges 1.487 760

7. Audit costs 3.912 2.000

7.1. Expenditure verification (Audit) 3.912 2.000

It was found that: These costs are related to Project as declared, fall into correct budget lines, they

have been paid within reported period.

All costs are real and eligible listed expenses supported with correct financial documentation.

Documentation related to Project expenditure:


Approved budget,

Final Financial Statements,



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Employment Contracts,

Service Contracts,

Sarajevo Open Center source project financial documents (e.g. invoices, contracts, bank statements/payroll slips/personnel accounts, social security legislation, etc…).

Bank statements.

9.6. FUND BALANCE


BAM

Amount in

EUR


B TOTAL EXPENDITURES 130.122 66.530

C Fund Balance (C=A-B) 0 0

Fund Balance of the Project as of November 30th 2015 is BAM 0.

Sarajevo Open Center has separate bank account for funds donated by Norwegian Embassy. Beside

funds donated for the Project “Step up!" this bank account also contains funds transferred for new

project and therefore Project Fund Balance is not equal to Bank Statement Balance as of November

30th 2015.



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10. CONCLUSION

On the basis of the financial control, in accordance with the Project “Step Up!” implemented by

Sarajevo Open Center we consider that we have obtained reasonable assurance that the Final

Financial Report of the Grant Letter of July 17th 2014, with implementing period August 01st 2014

– November 30th 2015, gives a true and fair view of the expenses and income for the

implementing period made by Sarajevo Open Center in connection with the mentioned Project

within the time limit laid down by the Royal Norwegian Embassy in Sarajevo and in accordance

with the Grant Letter of July 17th 2014.

Auditor:

Ismeta Čardaković

___________________

NGO and Business Audit d.o.o. Sarajevo



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Annex 1. Management letter



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Ref: IP-004/2016

Sarajevo

Management letter to the Board

Sarajevo Open Center

1. Executive Summary

1.1 Introduction and objectives of the audit

We have audited Sarajevo Open Center Final Report for the Project “Step Up!” funded by Royal

Norwegian Embassy in Sarajevo. It is the responsibility of the Board of Sarajevo Open Center to

ensure that laws, regulations and the Grant Letter provisions have been complied with.

Our responsibility is to state whether we have found any circumstances indicating that the accounting,

control and reporting have not been performed according to the stated criteria.

The International Standards on Auditing (ISA), generally accepted auditing standards form the criteria

upon which our audit was performed.

1.2 Scope of the audit and audit approach

The audit required by Donor stipulates such tests deemed necessary to give reasonable assurances that

the Income and Expenditures reported by Implementing Organization’s Financial Statements for the

Project: “Step Up!” are bona fide and have been incurred in accordance with the Grant Letter.

Our approach was tailored to the specific needs of the Donor and was ‘risk-based’. The size of the tests

were based on the auditor’s risk analysis. We have planned and performed the audit from the

perspective of materiality and risk in order to obtain reasonable assurance that the Final Report is free

from material misstatement.

The audit involved examination on a test basis of appropriate evidence.

This required the following core methodology:

Planning,

Collection of audit evidence,

Draw conclusions and form opinions,

Reporting to Royal Norwegian Embassy in Sarajevo.

1.3. Summary of our findings

As a result of this assignment Auditor does not have any important observations or factual

findings to financial report that could effect on its materiality. There is reasonable assurance that the Sarajevo Open Center has adequately implemented project

activities and as a result we did not identify any major weaknesses in the internal control and

accounting systems. Ismeta Čardaković, authorised auditor

______________________________

NGO and Business Audit d.o.o. Sarajevo Sarajevo, January 13th 2016.



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Annex 2. Financial report



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Annex 3. Audit certificates



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Documents

st 2014 November 30th 2015 Project title: Step Up! Project ...soc.ba/.../uploads/2016/...SOC-Norveska-amb-signed.pdf · NGO and Business Audit d.o.o. Sarajevo, Audit and Consulting