Промени в Закона за счетоводството и Закона за независимият финансов одит – 2024
Changes to the Accounting Act and the Independent Financial Audit Act – 2024

Author(s): Nikolay Yovchev
Subject(s): Politics / Political Sciences, Politics, Economy, Law, Constitution, Jurisprudence, National Economy, Business Economy / Management, Political Theory, Economic policy, Politics and law, Accounting - Business Administration, EU-Legislation, Administrative Law
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: transpose; directive; sustainability; Accounting Act; Independent Financial Audit Act
Summary/Abstract: The purpose of this study is to cover the European regulations and the legal framework in relation to its transposition into national accounting legislation - the Accounting Act (AA) and the Independent Financial Audit Act (IFAA). The recent changes to the Accounting Act (AA) came about through the promulgation of the Accounting Act as amended by the Accounting Act. Journal of Laws No. 70 of 20 August 2024, as amended. SG 72 of 27 August 2024, amend. SG 79 of 17 September 2024. Amendments to the Accounting Act, reflecting the need to change the existing regulatory accounting framework imposed by the adoption of European legislation and to meet both the general and specific needs of market participants. The main objective is to align European accounting legislation with national legislation. The change also appropriately reflects the understanding of reporting and the applicable basis to the requirements of the organisation of the accounting system, as well as the auditing and publication of financial statements having information on sustainability reporting and the new requirements for the management of the environmental and social impact of the activities of enterprises. With a view to reducing the administrative burden and costs for businesses and establishing clear rules and procedures regarding accounting by businesses, the main points to be taken into account in terms of accounting legislation are discussed.

• Details
• Contents