Public accounts are correct

Toomas Mattson | 8/26/2015 | 12:00 AM

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TALLINN, 26 August 2015 – The National Audit Office is of the opinion that the 2014 Annual Accounts of the State are accurate in all material respects, which means that they give a true and fair view of the state’s financial position as well as its financial performance and cash flow for the year ended.

The National Audit Office finds that the state's most significant economic transactions were performed according to the State Budget Act, the 2014 State Budget Act and its amendment act.

Accounting in state agencies, foundations controlled by the state and public undertakings is predominantly well organised and the annual accounts are predominantly free of material misstatement.

The revenue collected by the state in 2014 according to the State Budget Execution Report amounted to 7.9 billion euros, which exceeded the revenue of 2013 by 206 million euros. In 2014 revenue exceeded expenditure by 41 million euros. The state’s assets totalled 15.4 billion euros at the end of 2014 and the majority of the assets are fixed assets. Compared to the previous period the value of assets has increased by 3 billion euros, mainly on the account of the change in value of biological assets (state forest). The state’s liabilities totalled 6.3 billion euros at the end of 2014 – an increase of 0.9 billion euros compared to the previous period. Long-term liabilities in the amount of 4.7 billion euros comprise the majority of liabilities and the increase in liabilities was mainly caused by the growth of long-term provisions for pensions and long-term loans payable.

The audit report prepared about the Consolidated Annual Report of the State and the audit reports concerning ministries and constitutional institutions are available on the website of the National Audit Office at

Toomas Mattson
Head of Communication Service, National Audit Office
+372 513 4900
[email protected]
[email protected]

  • Posted: 8/26/2015 12:00 AM
  • Last Update: 2/26/2016 11:20 AM
  • Last Review: 2/26/2016 11:20 AM

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