site.btaPublic Financial Inspection Agency Completes 122 Inspections, Audits in First Half of 2023

For the period April 1 through June 30, 2023, the Public Finance Inspection Agency's (PFIA) financial inspectors completed 122 financial inspections and examinations, the agency's Director, Stefan Belchev, said Monday. The authority audited 308 public procurements with a total value of BGN 319,383,890 and 898 contracts with a total value of BGN 76,488,023.

During the inspections, 499 violations were established and 279 administrative offence notices were issued. The most frequently detected breaches established involved the Public Procurement Act, the Public Sector Financial Management and Control Act, the Accounting Act, the Public Finance Act, as well as secondary legislation, Belchev said.

The experts established that 31 public procurement procedures to a total value of BGN 17,142,737 were either not held or were held without due reason.

The funds found to have been spent inappropriately amounted to BGN 1,406,129, of which BGN 778,765 were reimbursed to the budget during the inspections, and for the rest, in order to recover them, action was taken under the State Financial Inspection Act. In the course of the inspections, damage caused amounting to BGN 163,918 was detected, of which BGN 36,133 was recovered. 

PFIA control authorities identified 20 "fraud indicators" within the meaning of Item 9 of Section 1 of the Additional Provisions of the State Financial Inspection Act. 

During the reporting period, financial inspections in municipalities accounted for the highest share (64%), followed by other state or municipal budget holders (10%), commercial companies with state or municipal capital participation (17%), ministries (3%) and other entities (6%).