Accounting and accounting rules in Bosnia and Herzegovina

Accounting Rules

Tax Year

From 1 January to 31 December.

Accounting Standards

Bosnia and Herzegovina applies the international accounting standards (IAS/IFRS).

Accounting Regulation Bodies

Audit Office of the Institutions in Bosnia And Herzegovina
The Supreme Office for the Republic of Srpska- Public Sector Auditing

Accounting Reports

Annual financial reports include:
-Balance sheet
-Income statement
-Cash flow statement
-Statement on changes in equity and
-Notes to financial reports.

Publication Requirements

Legal entities have the obligation of storing and disclosing financial reports. Accounting statements are submitted semi-annually and annually. Semi-annual balance statement must be turned in by the end of July, while the annual balance statement must be submitted by the end of February.

Professional Accountancy Bodies

Association of Accountants, Auditors and Financial Workers Federation of Bosnia and Herzegovina , (in local languages only) - a professional association of accountants and auditors in the Federation of Bosnia and Herzegovina
Association of accountants and auditors in Republika Srpska , (in local language only) - a professional association of accountants and auditors in Republika Srpska

Certification and Auditing

Auditing of financial statements shall be performed by a professional authorised auditor who possess a licence for work on financial statements, auditing tasks and who are employed in or engaged by an auditing company.

Office for Auditing of the financial operations of the institutions of Bosnia and Herzegovina is an independent body responsible for government and public sector auditing in the country. For a list of private licenced auditing companies in the Federation of Bosnia and Herzegovina visit the Federal Ministry of Finance. For a list of private licensed auditing companies in the Republic of Srpska visit the Federal Ministry of Finance. You can also contact an external auditor: PricewaterhouseCoopers, KPMG, Deloitte.

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