Supreme audit institutions and supreme audit in the Republic of Serbia

Abstract

Having in mind the importance of controlling the spending of budget or public funds, modern states have long ago regulated their system of audit supervision, ie. established institutions that examine and evaluate the spending of budget funds. In the Republic of Serbia, the position of the institution performing supervision in the field of audit is determined by the Constitution and the law, and this principle is also represented in comparative law (the position of the highest or supreme audit institution). True, a little later, in 2005, a law was passed in Serbia which regulates the establishment, activity, legal position, competence, organization, manner of work and other issues of importance for the work of the institution, as well as the rights and obligations of audit subjects. This institution is called the State Audit Institution and its main activity is audit supervision. We can say that the adoption of the Law on the State Audit Institution in a modern way regulated the control of spending budget funds, ie state audit. Although he is of the opinion that the State Audit Institution is the successor of the former Social Accounting Service, the Law on the State Audit Institution establishes a new institution that is conceptually independent and independent of the executive, ie a new body, as the highest state body in auditing public finances modern states. The paper will analyze the concept of audit or control over the spending of budget funds, models of organizing the supreme audit institution in comparative law; the legal position of the Supreme Audit Institution in comparative law as well as the Supreme Audit Institution in the law of the Republic of Serbia, with the intention to more clearly see the importance of controlling the spending of public.