a) Audit of Financial Reports
The Audit Office is authorised to establish the following items by means of audit of financial reports and financial transactions of the budget in FBiH:
- That all measures for insurance of collecting and keeping public revenues have been undertaken and that the relevant bodies adhere to Laws, instructions and guidelines that refer to them.
- That the payments of public expenditures, including the funds outside of the budget, are performed in accordance with the appropriate authorisation and for intended purposes.
- That all measures concerning acceptance, keeping and issuing of public stocks; if Laws and instructions referring to this matter are being adhered to.
Aside from these authorisations, the Office gives verbal and written warnings to the competent public bodies regarding the more economical, more efficient and more successful collecting and spending of public budget and out-of-budget revenues.
Aside from the above mentioned, the function of the Audit Office is also to audit the following:
- enterprises, companies or organisations, partly or fully state-owned, controlled or financed from the FBiH budget or other funds controlled or guaranteed for by the Government.
- organisations receiving budget funds or the funds provided by external organisations as a loan or irrevocable funds for FBiH.
b) Audit of Efficiency
In the sense of prudence, efficiency and success, the Audit Office has the right to audit a part of organisation or organisation as a whole and therefore can, at any time, review or inspect certain aspects of the business activity performed in the part or in the whole organisation.
c) Special Audits and Audits By Agreement
- The Audit Office can at any time perform special audits at the request of the Parliament and/or at the request of institutions and competent ministries.
- The Audit Office can make an agreement with a person or a body meeting conditions for engaging in audit activities in accordance with the FBiH Law on Budget Audit.
Special Audits and Audits by Agreement are conducted through paying a special fee to the Audit Office.