NEWS
New Accounting law and Audit law
New laws on accounting and audit have been published in Croatia's National Gazette no. 146/05 starting with appliance for business year 2006. In Accounting law there are no significant changes except for implementation of International Financial Reporting Standards (for certain group of companies) and a new method of company classification.
New - old reporting standards
Six months after bringing Accounting Law, Financial Reporting Standards Committee in National Gazette no. 61/06 published standards according to which companies, depending on their size, must submit reports. Big companies and those who fall into that category, together with all the others who decide so, implement International Financial Reporting Standards (IFRS), while the rest implement old International Accounting Standards with certain modifications.
Minimal fees for audit services
After founding of the Croatian Chamber of Auditor's in March 2006 and with Ministry of Finance endorsement, the auditors' Tariff has been brought and published in the National Gazette no. 63/06 which defined minimal fees for audit services.
