site.btaPublic Financial Inspection Agency Reports 116 Financial Inspections, Audits in End-2023

The Public Financial Inspection Agency’s (PFIA) financial inspectors completed 116 financial inspections and audits for the period October 1 through December 31, 2023. The authority audited 416 public procurements with a total value of BGN 2,168,328,173 and 2,353 contracts with a total value of BGN 245,893,941, PFIA reported on Wednesday.

During the inspections, 509 violations were established and 392 administrative offence notices were issued. The most frequently detected breaches established involved the Public Procurement Act, the Financial Management and Control in the Public Sector Act, the Accounting Act, the Public Finance Act, as well as secondary legislation.

A total of 31 public procurement procedures with a total value of BGN 23,224,364 were either not held or were held without due reason. 

The funds found to have been spent inappropriately amounted to BGN 716,853, of which BGN 335,057 were reimbursed to the budget during the inspections, and for the rest, in order to recover them, action was taken under the Public Financial Inspection Act. In the course of the inspections, damage caused amounting to BGN 30,668 was detected, of which BGN 23,307 was recovered. 

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

During the reporting period, financial inspections in municipalities accounted for the highest share (48%), followed by commercial companies with state or municipal capital participation (29%), other state or municipal budget holders (13), ministries (5%) and other entities.