EU – Baltic States, Railways, Transport

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 13:14

Baltic auditors launch Rail Baltica's audit

BC, Tallinn, 19.09.2018.Print version
Top audit institutions of Lithuania, Latvia and Estonia have launched an audit into the European gauge railway project Rail Baltica's internal control system and public procurement management, reported LETA/BNS.

The joint audit will evaluate whether the procurement and contracting models of the Rail Baltica/Rail Baltic project are efficient enough to enable effective and economic delivery of the project, the National Audit Office of Lithuania said.


Julius Lukosius, director of Economy Audit Department at the National Audit Office of Lithuania, says the time is right carry out the audit without waiting for the project's final stage.


"The project is of huge scope in terms of funding and competence it needs, therefore, in our opinion, now is the best time for such an audit. We need to see if the model is right to ensure effective and rational use of funds and, in general, if the whole project management and internal control system is right to expect the project's smooth implementation," Lukosius told.


The audit will cover the period from 2014 until 2018, and the the audit report will be published in December, 2019 at the latest.


Worth 5.8 bn euros, the Rail Baltica project is scheduled to be finished by the end of 2025.






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