11.01.2012

The prepared by the Audit of EU Funds Executive Agency OPAC's annual control report identified under OPAC projects only 0.22% errors with financial impact at materiality threshold of 2%. The Audit Authority's findings have been notified to the European Commission and are based on a sample of 35 payment requests under 32 projects totaling almost BGN 7.35 million which represents 47% of the 2010 certified expenditure.

The report states that the set up of the management and control systems of the operational programme is consistent with the requirements of the regulations and "they function effectively to provide reasonable assurance as to the reliability of the accounts submitted to the Commission and the legality and regularity of the underlying transactions".

The good results are owing to the changes made in the management and control systems of OPAC Managing Authority, the new organizational structure and the streamlining of work. The appreciation is due to the updated rules of procedure of the MA and to the streamlining of contracting and expenditure verification. The measures on strengthening controls over project beneficiaries' expenditure have been approved. The auditors' conclusion is that the ex-ante controls on selection procedures has been sufficiently strengthened.