SCAAK and AmCham organize roundtable discussion on Law no. 06/L-032 on Accounting, Financial Reporting and Auditing

Prishtinë, August 8, 2018 – Accounting, financial reporting, and auditing are crucial in training organizations on making business decisions based on their past and current financial performances. Considering the importance of these elements, the Assembly of Kosovo approved the Law no. 06/L-032 on Accounting, Financial Reporting, and Auditing on April 19, 2018 with the main aim to regulate the accounting and financial reporting systems of business organizations, auditing requirements, qualifications for accountants and licensing of auditors amongst others.

The Society of Certified Accountants and Auditors of Kosovo (SCAAK) and the American Chamber of Commerce in Kosovo organized today a roundtable discussion with AmCham member companies’ representatives on better informing them with the requirements of the Law on Accounting, Financial Reporting and Auditing and the challenges arising through its implementation/

AmCham Executive Director, Arian Zeka, said that such events are important on enabling businesses to get informed on the content of the law during its first phase of implementation. He thanked the Minister of Finance, Bedri Hamza, and the Society of Certified Accountants and Auditors of Kosovo for their continuous partnership with AmCham.

The main speaker in this roundtable was the Minister of Finance, Bedri Hamza, who in his opening remarks he said that the new Law on Accounting, Financial Reporting, and Auditing will regulate the accounting system, financial reporting, auditing requirements, licensing auditors, and many other areas that affect businesses. He said that this law aims on also fighting the high levels on informality in the Kosovar society which will result in better conditions in attracting foreign investors in Kosovo, adding that this law is in concordance with the European Union standards.

Further on, Lulzim Zeka, Legal Aduitor, SCAAK, presented the Law no. 06/L-032 and talked further about the enterprises qualifications in Kosovo, following the standards on preparing business financial statements, additional requirements of reporting for bigger companies, and also about financial statements’ auditing.

Panel speakers also included Arbër Hoti, Head of the Quality Control Department, SCAAK, and Gresë Rexhepi, Tax Manager, PwC and Chairperson of AmCham Tax Committee