About Us

Chamber of Authorized Auditors was founded according to the Law on Accounting and Auditing („Official Gazette of RS“ no. 46/2006), for the purpose of improvement and development of the accounting and auditing profession, implementation of international accounting and auditing regulations and harmonization with these regulations, protection of general and individual interests in performing of jobs in this field, organizing providing of services in this field, execution of exams for acquiring of the professional title, granting and removal of licenses for performing jobs of auditing of financial statements, as well as for realization of other goals in the field of accounting and auditing.

Members of the Chamber are certified auditors employed in auditing companies and certified internal auditors, as well as auditing companies.

Bodies of the Chamber are: the Assembly, the Council, the Supervisory Board and the Disciplinary Commission.

Constitutive Assembly of the Chamber was held on November 15, 2006, when the Chamber of Authorized Auditors officially started to work.

The model according to which the Chamber of Authorized Auditors was founded is based on experience and solutions of chambers and institutes in this field of the largest number of countries of Western Europe and almost all countries which joined the EU recently.

Up until now, accounting and auditing profession in the Republic of Serbia has not had its Chamber as a professional association, which mostly is not the case with other professions. By founding the Chamber of Authorized Auditors, requirements were satisfied for the accounting and auditing profession to obtain its association through which it shall realize its interests.

The principle interest of this profession, which presents the main task of the Chamber as well, is to continually promote the activity of accounting and auditing in accordance with the Law on Accounting and Auditing and the international standards. In connection with that it is important to emphasize that the Chamber was granted significant powers with this Law, that is, the Chamber performs certain jobs as entrusted ones. This practically means that certain jobs within the framework of accounting and auditing, which were previously performed by the Government, have been entrusted to the Chamber of Authorized Auditors. Within the framework of entrusted jobs the Chamber primarily performs the following ones:

• Adopts a program according to which training shall be executed, as well as testing of candidates, and issues certificates for acquiring professional titles certified auditor and certified internal auditor;

• Defines rules for continual professional advancement, in accordance with international requirements for professional education and in accordance with the Law on Accounting and Auditing;

• Defines requirements for acquiring, extension and removal of licenses for performing auditing jobs to certified auditors for work on the jobs of auditing of financial statements, in accordance with the Law on Accounting and Auditing;

• Issues, extends and removes licenses for performing jobs of auditing of financial statements to certified auditors and keeps a registry of issued licenses to certified auditors for performing jobs of auditing of financial statements;

• Maintains registries of issued certificates for professional titles;

• Defines criteria and nostrifies professional titles acquired abroad.

The Ministry of Finance supervises the work of the Chamber in performing of these entrusted jobs.

Apart from these jobs, the Chamber, within the framework of its activity, performs other jobs as well, which cannot be considered less important, as follows:

• Follows up implementation of the International Accounting Standards, i.e., International Standards of Financial Reporting, International Auditing Standards, International Quality Control Standards and the Code of Ethics for Professional Accountants;

• Follows up the process of harmonization of the accounting and auditing regulations with the international professional regulations;

• Defines criteria for forming prices for auditing services of auditing companies;

• Cooperates with international professional organizations in the field of accounting and auditing;

• Performs other jobs as well defined with the Chamber`s Memorandum of Association.

In the first year of its work the primary goal of the Chamber was to organize and implement training and taking of exams for acquiring the professional titles of a certified auditor and certified internal auditor, for which there is a great interest within the accounting and auditing profession. In connection with that it must be emphasized that apart from the Chamber, a professional association or other legal entity may organize training for taking of exams for acquiring professional titles, as well as professional advancement of persons having certificates of these titles, in accordance with the international guidelines and requirements for education of professional accountants, based on article 6, paragraph 2, of the Law on Accounting and Auditing. However, organization and implementation of exams for acquiring of professional titles from article 4, paragraph 1, of the Law on Accounting and Auditing is done by the Chamber. For execution of exams the Chamber forms a special Commission.

With the aim of execution of activities of the Chamber, Chamber`s Assembly has adopted appropriate documents at the second meeting held on February 19, 2007, for which the Ministry of Finance gave its approval, in accordance with the Law on Accounting and Auditing.

General documents of the Chamber were adopted as a result of a public discussion initiated by the Council of the Chamber, in which auditing companies and certified auditors, as members of the Chamber, provided great contributions in forming of high quality proposals for the documents, on which the Assembly made decisions. Internal auditors also participated in this public discussion, although they were formally not members of the Chamber at the time because only the new Law on Accounting and Auditing regulates this title, but also with their proposals and suggestions the adopted documents were significantly extended and improved.

In the procedure of forming of the Chamber contribution should especially be stressed of the preparatory Commission, appointed by the Finance Minister based on article 71 of the Law on Accounting and Auditing, with the task to make general documents, execute preparations for selection of bodies and perform other jobs necessary for the beginning of work of the Chamber, in whose work eminent experts participated in the field of accounting and auditing.

We hope that the Chamber of Authorized Auditors shall fully fulfill the purpose of its founding, which shall depend both on the work of its bodies, and the engagement of all its members.