The future of state audit development in the Republic of Serbia

The State Audit Institution has the role of a mechanism which controls the expenditure of state money, prevents a spiraling public spending and regulates how efficient, effective and economical public institutions are. It is determined by the Statute and Law, with precise status and role in a specific society, i.e. state. The State Audit in the Republic of Serbia is a relatively recent state institution, having been defined in 2006 for the first time. The State audit experts criticized the new Law, which regulates the founding and the domain, legal aspects, authorities, organization and work policy of the State Audit Institution. However, the future of state audit development in the Republic of Serbia is clearer now. The state audit development will be directed towards meeting the requisites of INTOSAI organization of the highest credibility in charge of state audit development worldwide.