The State Audit Office of Hungary (SAO) identified a number of management and financing problems in its report, which recorded the findings of its audit on the Centre for Budapest Transport (BKK Zrt.), the Budapest Transport Privately Held Corporation (BKV Zrt.) and the Municipality of Budapest as the owner exercising its rights.
The aim of the audit was to assess whether the Municipality of Budapest, as owner, had properly exercised its ownership rights and fulfilled its obligations at BKK Zrt. and BKV Zrt., which are involved in the performance of public tasks. The audit also covered, among other things, the examination of the compliance of financial management. Its objective was also to identify and assess the financial management risks affecting the performance of public tasks by companies owned by the Municipality of Budapest.
According to the report, urgent measures are needed in the areas of financing and management for the future of public transport in Budapest. To this end, the SAO made a total of 14 recommendations to the Mayor of Budapest, and the CEOs of BKK Zrt. and BKV Zrt.
The full report in Hungarian is available here.