Special Report 8/2019

2019-08-13 00:00:00

Financial audit on the Special Account for Research Funds of Democritus University of Thrace

The purpose of the audit was to examine: a. the evaluation of the accounts shown in the financial statements and the accounting system under which financial management is monitoring, b. the design and implement of internal control system in the procedures under consideration and the compliance of the transactions under consideration with the applicable legislative and regulatory framework.

The most important findings concern: a. the non-operation of an internal control unit, b. the failure to carry out a physical inventory on fixed assets, c. no clear calculation criteria for additional remuneration, unlawful award and payments of third-party contracts (non research programs), d. loss of revenues from non-collection deductions in fees, e. absence of clear legal context and compliance with specific rules on how to select program contractors.

The Hellenic Court of Audit will carry out a follow-up audit.     

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