The State Audit Institution conducted an audit of the Annual Financial Report of the Agency for Control and Quality Assurance of Higher Education for the year 2024. The audit was carried out in accordance with the Rules of Procedure of the State Audit Institution, the Guidelines on the Methodology for Conducting Financial and Compliance Audits, the Quality Control Guidelines for Audit Performance, and the International Standards of Supreme Audit Institutions (ISSAIs 100–999).
Based on the established factual findings and the Agency’s response, the competent Collegium of the SAI, composed of Senator Zoran Jelić – Head of the Collegium, and Senate member Vesna Mihailović, at a session held on July 11, 2025, issued an unqualified opinion on the Agency’s Annual Financial Report for 2024.
Through the financial audit of the Agency’s 2024 Annual Financial Report, the competent Collegium of the SAI obtained reasonable assurance that the report, in all material respects, was prepared fairly and objectively in accordance with the applicable financial reporting framework.
The Audit Report stated that the total planned expenditures for 2024 amounted to €440,739.63, while the Agency incurred expenditures totaling €346,919.10. There were no outstanding liabilities as of December 31, 2024, which was also the case in the previous year. It was also established that the Agency did not spend any funds after the end of the 2024 fiscal year and did not use funds from the current budget reserve.
In 2024, the Agency generated €50,018.80 in revenue from administrative fees for conducting accreditation and reaccreditation procedures. Payments were made by the University of Montenegro (UCG), the Mediterranean University, and nine other higher education institutions. These funds were not used for the Agency’s own needs but represent revenue for the Budget of Montenegro.
The Collegium of the SAI issued a qualified opinion regarding the compliance of operations for 2024, along with certain recommendations that the Agency plans to adopt and implement in order to improve its operations in the future.