Electronic signature on financial report in 2015

As of January 1, 2015, Serbia will start implementing new Law on Accounting which implies that financial reports shall be electronically signed, the head of the Agency for business registries (APR), Zvonko Obradovic, has reminded today.

At the presentation of publication of the most successful and best companies in Serbia, "TOP 300" , he said to journalists that in 2015, some 11.000 of big companies and SMEs will have to deliver electronically signed reports while in 2016 it will be compulsory for everyone.

Registrar for financial reports and solvency at the Agency for business registries, Ruzica Stamenkovic, said that, although the implementation of the new Law on accounting starts as of next year, all bylaws have not been adopted yet.

The main innovations, as she said, is the fact that accounting rules are adapted to financial strength of legal entities and that financial reports which were not adopted are left behind.

The new things is also collective responsibility for financial report because, apart from legal representative, managing board, supervisory board and the person in charge for financial report production will be responsible.