Audit Finds 49 Finance Violations at Sofia Culture Palace

Finance | October 10, 2011, Monday // 14:57|  views

The National Palace of Culture (NDK), a landmark congress and exhibition center situated in downtown Sofia. Photo by BGNES.

The probe of the Bulgarian State Public Financial Inspection Agency has established fourty nine financial violations at the National Palace of Culture, NDK, in the capital Sofia.

The Agency is auditing the NDK books from 2008 to 2010. The audit was ordered after the decision to reshuffle and replace the management of the facility.

In early May, NDK was transformed into a public limited company (PLC) via a decision of the cabinet, which put the Finance Ministry in charge of its management and launched an audit procedure.

The audit has established violations in public tenders in the amount of BGN 3 M. In addition, the auditors found that some documents submitted with the Agency have false information, and have concluded incorrect data was sent on purpose.

At the beginning of June, the Bulgarian government has proposed to add NDK to the list of companies banned from privatization through a supplement to the Privatization and Post-privatization Control Act.

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Tags: privatization, Privatization and Post-Privatization Control Act, National Palace of Culture, NDK, audit, public tenders


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