The state SEZ bank monitors all transactions in real time and conducts monthly evaluations to ensure that all funds are used in accordance with the designated budgetary and program objectives.
Deviations, anomalies, or rule violations are automatically flagged and reported to the internal oversight body.
External Oversight by Independent Auditors
SEZs are required to commission at least one independent auditor annually to verify compliance with financing, procurement, and expenditure regulations.
The full audit report shall be submitted, in accordance with Article 16 paragraphs 2 and 3, to:
the GPP Financial Supervisory Authority, and
the GPP Transparency Council.
The most important key figures and audit results shall be publicly accessible on the SEZ web platform.
Sanctions in Case of Violations
If violations of the financial rules are identified – such as:
misuse of public funds,
non-transparent procurement,
or deliberate concealment of payments – the responsible parties shall be sanctioned immediately.
Possible measures include:
dismissal of the executive management,
freezing of disbursement rights,
removal from operational leadership functions.
In cases of serious violations, the GPP may order an international special audit and initiate legal action.
If an external auditor is proven to have intentionally concealed deficiencies or produced incomplete reports, the GPP may permanently exclude and take legal action against them.
Objective of this Regulation:The SEZs are intended not only to operate efficiently but also to act credibly and fairly – in the interest of all stakeholders and the peace-promoting effect that derives from their integrity.
