EU – Baltic States, Financial Services, Legislation, Lithuania

During the project, which was started in April 2014, a team of NAO experts participated in nine missions to Montenegro to evaluate the quality control system of the State Audit Institution, to develop audit quality guidelines, an action plan for implementing audit quality standards, documents and recommendations for improving the audit quality control system, and to provide guidance and training for public auditors and members of the Senate.

An important part of the project was a visit of a Montenegrin delegation to the National Audit Office, during which Lithuanian experts presented the Lithuanian public audit system, practice of the application of the International Standards on Auditing, ethics of public auditors, and other relevant issues to their colleagues from the State Audit Institution.

Speaking about the project in the closing event, the Lithuanian project manager, Head of the Audit Methodology Division of the NAO Audit Development Department, Audrone Vaitkeviciute, welcomed the excellent results of joint efforts of experts from the State Audit Institution of Montenegro and the National Audit Office of Lithuania, who have developed audit quality control guidelines for the Supreme Audit Institution as well as provided training to Montenegrin auditors in how to both ensure audit quality and apply the International Standards of Supreme Audit Institutions; also, the International Standards on Auditing have been translated into the Montenegrin language. "I believe that the improvements in the performance of the State Audit Institution of Montenegro that were achieved during the project will enhance the efficient and effective management and use of public funds in Montenegro and will contribute to the country's aspirations to become a member of the European Union," said Vaitkeviciute.

The project's closing event was attended by Auditor General Giedre Svediene, President of the Senate of the State Audit Institution of Montenegro, PhD Milan Dabovic, and other members of the Senate, as well as representatives of the Committee on Economy, Finance and Budget of the Parliament of Montenegro, Ministry of Finance, and Ministry of Foreign Affairs and European Integration. "Smooth cooperation between our institutions has been ensured from the very start of the project, and this was determined by several reasons, such as similar history of our countries, similar values, professional development, aspirations, and experience. The National Audit Office has come a long way from a beneficiary to a provider of support, and we are well aware of the difficulties in implementing the necessary changes. However, we also know that our desire to learn and grow has made us stronger. I believe that this desire will strengthen the State Audit Institution as well," said Auditor General Giedre Svediene congratulating the participants on the successful completion of the project.

The value of the EU-funded Twinning project was a quarter of a million euros. The project was implemented by the National Audit Office in conjunction with the Central Project Management Agency and the State Audit Institution of Montenegro.