Within its scope of competence, the Institution performs following activities:
1) plans and conducts audit, in accordance with this Law;
2) enacts by-Laws and other enactments for purpose of implementation of this Law;
3) submits reports, in accordance with Art 43 and Art 44 of this Law;
4) provides views and opinions and other forms of public announcements regarding application and implementation of specific provisions of this Law;
5) when required and in accordance with its capacities, it provides professional assistance to the Assembly, the Government of the Republic of Serbia (hereinafter referred to as: the Government) and other state bodies, with regard to certain significant measures and important projects, in the manner which does not diminish the independence of the Institution;
6) may provide advice to the beneficiaries of public funds;
7) may comment on working drafts of legal texts and other regulations, and may provide opinions on matters related to public finance;
8) may give recommendations for amendments of effective laws, based on information acquired during audit, which have or may have negative consequences or lead to unforeseen results;
9) adopts and publishes auditing standards, related to public funds under audit competencies of the Institution, auditing manuals and other professional publications relevant for the improvement of the auditing profession;
10) establishes training and examination programme for acquiring titles of State Auditor and Certified State Auditor, organizes the examinations for acquiring auditing titles of State Auditor and Certified State Auditor, and manages the Registry of persons who acquired these titles;
11) establishes the criteria and validates professional titles acquired abroad, within the competence of the Institution;
12) cooperates with international auditing and accounting organizations in the fields related to the public sector accounting and auditing;
13) performs other duties stipulated by the Law.