Implementation of New Model of Financial Reporting to Begin at the Start of Next Year

Separating financial reports from the documentation and their submission in new, separate deadlines, the implementation of new reports and notices in line with the size of the subject, filing documentation only for the subjects of auditing and the implementation of new documents for certain groups of subjects, the implementation of the so-called corrected financial report which can be filed by the subjects of auditing are only some of the new features proscribed by the new Law on Accountancy, which will be implemented starting with financial reports for 2021.

The first deadline for the submission of regular annual financial reports for 2021 is March 31, 2022, according to the website of the Business Registers Agency (APR).

– In line with the rules which regulate an entirely new model of financial reporting, in which financial reports are determined by the size of the subject and which are assembled on entirely new forms for all groups of subjects, APR is preparing a new Special Information System for assembling and filing financial report, which will be open to users by the end of January 2022 – announced the director of APR, Milan Lucic.

He reminded that, for seven years up till that point, business entities had been filing their financial reports electronically and expressed his expectation that, in 2022, APR would get around 300,000 reports.

Lucic explained that, after the report is received, it is processed and published at www.apr.gov.rs within the deadlines set by the new Law, and no later than September 30, 2022, when all the valid reports and documentation, but also those that are not, not having been filed within the set deadline, will be published.

– The publishing of all the filed financial reports and documentation ensures the full transparency of financial reporting – emphasized the director of APR.

Considering that financial reports are filed exclusively electronically, legal representatives should check the validity of the qualified electronic certificate, so as to ensure its validity on time.

Before the Special Information System is launched, the agency is carrying out preparatory activities which pertain to determining the register of subjects, without which it will not be possible to file financial reports and the proscribed documentation, it is added.

Parallel with putting into operation the Special Information System, which enables an easier assembly and the filing of logically and accountancy-proper reports, the Agency will publish a technical guide, as well as user and video guides with instructions for working with the system.

– Legal entities and entrepreneurs that run business books by the double accounting system should get to know the new rules on time, so that the assembly and the filing of financial reports for 2021 would be successful – Lucic appeals to the business entities.

Agencija za privredne registre Beograd

APR

Milan Lučić

financial report

separating financial reports from documentation

subjects

auditing

auditing subjects

Law on Accountancy

financial reports

Special Information System for assembling and filing financial reports

electronic certificate