Банкеръ Weekly

Briefs

BRITISH EXPERTISE TO BE USED BY THE NATIONAL AUDIT OFFICE

The European Commission (EC) will release EUR2MN for the activity of Bulgaria's National Audit Office. The money, to be provided by the pre-accession PHARE Programme of the European Union, is earmarked for the implementation of a joint project on partnership with Great Britain's National Audit Office, which aims to improve the performance of the Bulgarian partner as an independent, modern and professional institution for external auditing of public funds. In twenty one months the National Audit Office, headed by Georgi Nikolov, should be already implementing the European standards for financial audits and submit to Parliament, Government and the EC in Brussels overall information about the spending of budget and public funds. The Dutch Audit Office, which has been a partner of the Bulgarian Audit Office since 1999, will be the project's sub-contractor and consultant. On February 5 Georgi Nikolov officially presented the project together with Richard Megs, International Audit Director at the UK National Audit Office. Both of them will be co-managers of the project.

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