Accounting News - December 2019

Accounting News - December 2019

Amendment to the Act on Accounting in October 2019

Ivana Mazániková

Partner, Audit

KPMG na Slovensku

Účtovné aktuality

On 15 October 2019, the National Council of the Slovak Republic approved an amendment to Act No. 431/2002 Coll. on Accounting as amended (hereafter referred to as the “Act on Accounting”) by means of Act No. 363/2019 Coll.

Certain changes will be become effective as early as 31 December 2019, others on 1 January 2020.

Main changes of the amendment to the Act on Accounting are:

  • Changes in the annual report for some accounting entities
  • The size criteria for audit of ordinary individual financial statements and extraordinary individual financial statements have been increased
  • The statement of the selected data from the individual statutory financial statements prepared according to IFRS as adopted by the European Union must be audited.

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