ZAGREB, July 23 (Hina) - The State Audit Bureau has received 496 requests for privatisation audits, deputy state auditor Jozo Serdarusic told Hina on Monday. In the last two months every party feeling damaged had the chance to file
for audits in companies for which there exists founded suspicion of privatisation frauds. According to the State Audit Bureau, most requests have been filed on the basis of claims for confiscated property, namely by owners of nationalised and confiscated property which was privatised. Besides stockholders and small stockholders' associations, trade unions, owners of nationalised and confiscated property, requests for privatisation audits could be filed by steering and supervisory boards, pension and health funds, offices of the state attorney and state prosecutor, the government, the Croatian National Bank, the Commission for Securiti
ZAGREB, July 23 (Hina) - The State Audit Bureau has received 496
requests for privatisation audits, deputy state auditor Jozo
Serdarusic told Hina on Monday.
In the last two months every party feeling damaged had the chance to
file for audits in companies for which there exists founded
suspicion of privatisation frauds.
According to the State Audit Bureau, most requests have been filed
on the basis of claims for confiscated property, namely by owners of
nationalised and confiscated property which was privatised.
Besides stockholders and small stockholders' associations, trade
unions, owners of nationalised and confiscated property, requests
for privatisation audits could be filed by steering and supervisory
boards, pension and health funds, offices of the state attorney and
state prosecutor, the government, the Croatian National Bank, the
Commission for Securities, the State Agency for the Financial
Rehabilitation of Banks, and units of local and regional self-
government.
Under the Privatisation Audit Act, they all may initiate audits in
companies for which there exists founded suspicion of
privatisation frauds, for instance, if shares have not been
purchased and paid in line with the law, if companies have been sold
at a value lower than the one estimated, etc.
The law also stipulates instances when audits are compulsory. The
State Audit Bureau estimates the number of such companies will
exceed the requests filed by persons authorised to request audits
by law.
The law stipulates an audit is compulsory in companies which the
government financially rehabilitated once or several times,
companies which are entirely or in part financed by the state
budget, companies which in privatisation used loans or other funds
of pension and health insurance and the employment bureau, or took
bank loans backing them with company property.
Under the law, the State Audit Bureau must submit a report on its
work to parliament every six months. The law also stipulates that
all privatisation audits must wrap up by 1 January 2003 at the
latest.
(hina) ha sb