State Audit Institution's Day - 178 Years since Establishment of Supervision over Public Funds' Spending in Serbia

26 July 2022.
State Audit Institution's Day - 178 Years since Establishment of Supervision over Public Funds' Spending in Serbia
178 years have passed since July 26, 1844, when the General Control was established by the Law on Organization - the forerunner of today's State Audit Institution (SAI). This meant that, in then Principality of Serbia, supervision over the spending of public funds began. That's why July 26 is celebrated as the Day of SAI.

In order to be a "pillar and defender against the greed and negligence of those in power", the General Control was established, and its establishment was foreseen by the Sretenje Constitution. This Organization, somewhat younger than the modern Serbian state, regardless of the different systems and regimes and the state framework, has been continuously taking care of how the state money is spent, until the establishment of the modern, independent State Audit Institution.

Although it has changed organizational forms, this important Institution has existed for 178 years with the same goal - to take care of public funds. In the past, accountants, and today state auditors, share the same task - to control spending of state money and managing public assets.

Today, SAI, headed by Dr. Duško Pejović, President of SAI and auditor-general, is a modern, transparent and efficient institution that provides the National Assembly, as well as the general public, with independent and objective information on how taxpayers' money is managed.

SAI has been accepted in the role of an independent guardian of public finances that the citizens of Serbia trust, Dr. Pejović emphasized and added that more than 11,000 users of public funds, potential auditees, are under the jurisdiction of SAI.

Following the trends in the world, SAI is strengthening the implementation of the performance audit - the aim of which is to assess whether the funds are used efficiently, effectively and economically and in accordance with the planned goals and over the years, the number of reports related to this type of audit increases, and new types of audits are introduced into the Annual Program.

SAI will continue to be a strong, independent and professional institution, equal to other supreme audit institutions in developed countries, said Dr. Pejović.

SAI provides high-quality audit services, aligned with international standards of supreme audit institutions; it works in the interest of taxpayers and thus helps the nation to spend money responsibly, said Dr. Pejović.