The three-year compliance period for legal entities to comply with provisions of the Law on Accounting (“Official Gazette of RS”, No. 73 /2019 and 44/2021 – other laws) (“the Law”), comes to an end.

That means legal entities whose main registered activity is the provision of accounting services (“the Accounting Service Providers”) must register in the Register of Accounting Service Providers (“Register”), and the obligation for all legal entities that engage an entity with bookkeeping and preparation of financial statements, to engage only a registered entity in the aforementioned Register.

From 2023, accounting services will only be provided by legal entities registered in the Register. For registration, one must have a Chambers of Authorized Auditors license, which can be issued to an entity whose main registered activity is the provision of accounting services and whose founder, i.e. the beneficial owner and the management body, has not been convicted of a criminal offense in the sense of the law regulating the liability of legal entities for criminal offenses, that is, if it is a natural person, has not been convicted of criminal offenses prescribed by the Law on Accounting.

In addition to the above, in order to obtain a license, the Accounting Services Provider must have at least one full-time employee with a professional title in the field of accounting or auditing from a professional organization that is a member of the International Federation of Accountants.

The Ministry of Finance has issued several opinions, including the prohibition for a natural person who meets the condition in terms of an acquired professional title in the field of accounting or auditing to be listed in the Register in two places at the same time, i.e. within the data on the sole proprietor and legal entity, that it is not […]