New accounting law adopted in parliament
Parliament has adopted an accounting law, meant to improve the system of corporate financial reporting and enable investors to make good investment decisions.
Tuesday, 16.07.2013.
13:04
BELGRADE Parliament has adopted an accounting law, meant to improve the system of corporate financial reporting and enable investors to make good investment decisions. The law also reduces the risk of financial crisis and effects on the economy. New accounting law adopted in parliament The parliament also adopted two amendments to the new law on accounting, which give the central bank direct access to financial reports and all the other needed data from the Business Registers Agency without compensation. However, the requirement for the implementation of the proposed solution is to set up an adequate technological and information platform for the most efficient exchange of information between the agency and the central bank, which would be done by October this year at the latest. The law defines a special category, micro legal persons, whose introduction was necessary because the EU countries place great attention to micro entities. It also introduces collective responsibility by management bodies and the monitoring body in the form of a legal person when it comes to financial reports, which brings the law in line with a directive of the EU. The law liberalizes accounting services, because there is no obligation to train and licence accountants. Accounting documents can be signed using a certified electronic signature or another mark of identification, which makes issuing and recording electronic invoices in Serbia easier. (Tanjug, file) Tanjug
New accounting law adopted in parliament
The parliament also adopted two amendments to the new law on accounting, which give the central bank direct access to financial reports and all the other needed data from the Business Registers Agency without compensation.However, the requirement for the implementation of the proposed solution is to set up an adequate technological and information platform for the most efficient exchange of information between the agency and the central bank, which would be done by October this year at the latest.
The law defines a special category, micro legal persons, whose introduction was necessary because the EU countries place great attention to micro entities.
It also introduces collective responsibility by management bodies and the monitoring body in the form of a legal person when it comes to financial reports, which brings the law in line with a directive of the EU.
The law liberalizes accounting services, because there is no obligation to train and licence accountants.
Accounting documents can be signed using a certified electronic signature or another mark of identification, which makes issuing and recording electronic invoices in Serbia easier.
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