ON ACCOUNTING AND AUDITING - Vip
ON ACCOUNTING AND AUDITING - Vip
ON ACCOUNTING AND AUDITING - Vip
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adopted, and within this deadline they shall acquire the license for conducting financialstatements audits.Exceptionally, persons who, prior to the present Law coming into force, have acquired thecertificate or decision on the auditor professional title by passing examination in compliancewith the Federal Government's program or without passing such examination, as well aspersons who have acquired the authorized accountant title in compliance with Law onAccounting ("Official Gazette of the Federal Republic of Yugoslavia", Nos. 46/96, 74/99,22/01 and 71/01) shall have those professional titles recognized. These persons may beeligible to conduct financial statements audits specified in the Article 38 paragraph 4 of thepresent Law for no longer than for the period of three years starting from the day theCommission specified in the Article 6 paragraph 1 of the present Law was established, andwithin this deadline they shall pass the examination and acquire the authorized auditorprofessional title certificate and license for conducting financial statements audits.Persons specified in paragraphs 2 and 3 of the present Article shall register within theRegister mentioned in the Article 51, paragraph 1, item 5) of the present Law.Article 74Persons who, prior to the present Law coming into force, have started taking examinations incompliance with the Federal Government's program for acquiring auditor and authorizedauditor titles may take remaining examinations in compliance with the program under whichthey started taking examinations, no later than for the period of one year starting from theday the Commission specified in the Article 6 paragraph 1 of the present Law wasestablished.Article 75Audit companies who, prior to the present Law coming into force, have acquired the license,i.e. the Federal Ministry of Finance license, shall harmonize their businesses with theprovisions of the present Law no longer than during the period of one year starting from theday the conditions for acquiring license for conducting financial statements audits specified inthe Article 39 of the present Law were prescribed.Besides filing a request for issuing a license specified in the Article 42 of the present Law,audit companies shall also submit documents specified in paragraph 2 of the present Article,and all other necessary documents requested by the Ministry.Article 76Law on Accounting and Auditing ("Official Gazette of the Federal Republic of Yugoslavia",No. 71/02 and "Official Herald of the Republic of Serbia", No. 55/04) shall cease to be validon the day the present Law comes into force.Bylaws enacted in compliance with the law that shall cease to be valid in terms of paragraph1 of the present Article shall apply until bylaws are enacted in compliance with the presentLaw, unless opposed to the present Law.Article 77The present Law shall come into force on the eighth day after its publication in the "OfficialHerald of the Republic of Serbia".