Chamber of Authorized Auditors of Serbia
Associate | Established: 2006 | Associate since 2014
The KoR was established in 2006 under the Law on Accounting and Auditing of 2006 as a mandatory membership organization for certified auditors, certified internal auditors and audit firms subject to oversight by the Ministry of Finance. In accordance with the 2006 Law (and subsequent amendments), the chamber’s main objectives are to (i) improve and develop the accounting and auditing profession, (ii) implement international accounting, auditing, and ethical standards, (iii) represent and advocate on behalf of the profession, and (iv) administer professional examinations for auditors. With the promulgation of the Law on Auditing of 2013, all licensed auditors as well as audit firms are required to be members of the chamber. In addition, the KoR’s responsibilities were expanded to include administration and delivery of the continuous professional development program for auditors along with other authorized providers, and implementation of a mandatory quality assurance review system for the audits of financial statements in Serbia.
Contact
Nušiceva 15Belgrade 11000
Serbia (Republic of)
Tel: +381-011-3281-820
Fax: +381-011-3031-321
office@kor.org.rs
http://www.kor.rs/
Statements of Membership Obligations (SMOs)
Last updated: 04/2018
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The Statements of Membership Obligations form the basis of the IFAC Member Compliance Program. They serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest by adopting, or otherwise incorporating, and supporting implementation of international standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their individual members.
Status of Fulfillment
Since the enactment of the Law on Auditing in 2013, the KoR has been responsible for conducting quality assurance (QA) reviews under the oversight of the Audit Public Oversight Board (APOB) and Ministry of Finance (MoF)...
The initial professional development (IPD) and continuing professional development (CPD) requirements for auditors are established in the Law on Auditing of 2013 and are implemented by universities and by the KoR under...
The Law on Auditing of 2013 requires application of ISA for the performance of audits in Serbia as translated into Serbian and promulgated by the Ministry of Finance (MoF). As of 2017, the 2010 version of ISA has been...
The Law on Auditing of 2013 authorizes KoR to establish a Code of Ethics for auditors, either by adopting the IESBA Code or issuing its own requirements. The KoR opted to adopt, without modification, the IESBA Code and...
The Chamber of Authorized Auditors of Serbia (KoR) has no direct responsibility for the adoption of IPSAS in Serbia, which are in the process of being implemented in the jurisdiction. KoR reports that it has considered...
Under the Law on Auditing of 2013, KoR is involved in the investigation and discipline (I&D) of auditors, with the Ministry of Finance (MoF) and the Audit Public Oversight Board (APOB) also involved in the process. The...
The Chamber has no direct responsibility for the adoption of IFRS or IFRS for SMEs, with the Ministry of Finance (MoF) being responsible for all aspects of the adoption process, including the translation. The MoF has...
Disclaimer
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