Audit report on the financial statements of the State Agrarian University, presented by the Court of Accounts during the meeting of the PFCC

The Court of Accounts of the Republic of Moldova (CoARM) presented today, March 9, during the meeting of the Public Finance Control Committee (PFCC), the Audit Report on the financial statements of the State Agrarian University of Moldova (SAUM), concluded on December 31, 2019, report approved by the CoARM on 16.12.2020.

During the meeting, Violeta Andrieș, Member of the CoA and Tatiana Popa, Head of the audit team presented the most significant non-compliances and deficiencies that formed the basis for expressing the qualified audit opinion, such as irregularities like overestimation of receivables, underestimation of fixed assets, debts and current provisions, inadequate reporting of information related to other equity items.

Likewise, the audit highlighted some problematic aspects, which did not influence the audit opinion:

• the information regarding the balance sheet value of the lands was overvalued by 439.7 thousand lei, due to the keeping in the accounting records of a lot of land deregistered from the Real Estate Register;

• the information related to intangible assets and intangible assets under construction were undervalued by 30.0 thousand lei each due to the non-valuation and non-accounting of 10 information systems created from the entity's own resources;

• the information related to the personnel expenses regarding the remuneration of work were unjustifiably increased by 209.9 thousand lei, being irregularly calculated salary differences with an excess of the amounts to be calculated according to the mechanism provided by the legislation (amounting to 208.5 thousand lei), etc.

Finally, taking into account the identified deficiencies, the Court of Accounts concluded that the Audit Report on the financial statements of the State Agrarian University of Moldova concluded on December 31, 2019, except for the effects that influenced the audit opinion, offers in all significant aspects, a fair and accurate picture, according to the applicable financial reporting framework.

The Chairman of the Public Finance Control Committee, Igor Munteanu, praised the efforts of the Court of Accounts for assessing the financial situation of the State Agrarian University of Moldova, an extremely important university for the country's agricultural development and highlighted the importance of implementing the audit recommendations issued for the audited entity.

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