Bosnia's Council of Ministers adopted the Draft Law on Amendments to the Law on Financing of Bosnia's institutions which introduces inspection supervision in case of suspicion of corruption, irregularities in institutions' work and failure to enforce financial regulations. Establishment of this inspection fulfils Bosnia's obligation from the SAA.
One of Bosnia's obligations stemming from the Stabilisation and Association Agreement with the EU stipulates that Bosnia and Herzegovina must establish an inspection which would oversee the financial flows in its state institutions.
The oversight would be performed by a budget inspector from the state Finance Ministry based on the information they receive from natural or legal persons. The inspector is then obliged to inform its informant of the outcome of the case within 30 days after receiving the information.
The Law introduces legal fines for the managers of state institutions and stipulates misdemeanours which can be pronounced in case of activities contrary to the Law on Salaries and Execution of Financial Operations of Bosnia and Herzegovina.
The state Finance Ministry will submit the Draft Law to Bosnia's Parliamentary Assembly for further procedure.