Slovenska Komora Auditorov
Member | Established: 1992 | Member Since 2002
The Slovenská Komora Audítorov (SKAU) is a professional organization established by law in 1992. The Chamber represents auditors, whether individuals or audit firms. The primary roles of the Chamber include the continuing education of auditors, preparation for auditors to be admitted to the audit profession, and audit quality control. The Chamber has a wide range of international contacts in Europe as well as bilateral cooperation agreements with professional organizations in many European nations, the Visegrad Group (V4) countries, and other organizations. It also became a member of the Fédération des Experts Comptables Européens in 2002. This allows SKAU to organize annual international conferences and adopt the latest auditing practices for the continuing education of its members, thus encouraging high quality audit performance. SKAU also actively comments on proposed amendments to laws related to audit, accounting, and taxation, and cooperates with the Slovak Chamber of Certified Accountants, the Slovak Chamber of Tax Advisors, and other professional associations.
Statements of Membership Obligations (SMOs)
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.
Having adopted most of the SMO 1 requirements, the SKAU does a number of things to comply with the requirements of SMO 1 on an ongoing basis. It organizes annual workshops for quality reviewers, reviews different aspects of the quality assurance (QA) review system and makes improvements where necessary. For example, it has reviewed the quality control questionnaires and updated its QA internal regulations and the methodology.
It also supports auditors in improving their internal control systems by offering training seminars on internal control, new internal control questionnaires, and the methodology that reviewers use in the conduct of QA reviews. It offers training based on recommendations by quality assurance reviewers, such as training workshops to assist auditors in improving their audit documentation.
The SKAU prepares and distributes an annual report on its QA activities to the public oversight authority, Úrad pre dohl’ad nad výkonom auditu (UDVA), and publishes the information on its website.
During the next round of the Action Plan update, the SKAU is encouraged to share with IFAC’s Q&M staff information on the current arrangements that UDVA has in place to exercise supervision of the SKAU’s QA review system, as well as details on any changes to the QA system in Slovakia due to the adoption of 2014 amendments to the Statutory Audit Directive and new Audit Regulation.
With shared responsibility for the implementation of IES, SKAU focuses on providing relevant continuing professional development (CPD) courses and training opportunities to its members and assistant auditors.
Its educational seminars and conferences cover technical accounting and auditing topics, updates on audit regulation, and the linkage between information technology and auditing. To reach more members and to facilitate wider access to educational material, the SKAU also offers e-learning courses. It organizes and delivers courses based on the results of the annual quality assurance results.
In addition, it provides implementation guidance in the form of publications on audit, taxation, law, and accounting.
The SKAU is encouraged to continue to compare the requirements of IES and its own educational program and make revisions where necessary to maintain compliance. It is also encouraged to report on the extent of compliance of the existing overall initial professional development and CPD requirements for professional accountants in Slovakia to those of the IES at the jurisdiction level.
The SKAU, which is responsible for promulgation of ISA, translates the standards and makes them available on its website. It also actively supports the implementation of ISA in Slovakia by providing pertinent educational materials and learning opportunities to its members. It monitors new and amended standards, as well as other pronouncements issued by the IAASB, and provides comments on Exposure Drafts. It updates members on an ongoing basis on new and revised audit regulations. Furthermore, it updates training courses to include revised standard-related topics.
The SKAU hosts conferences on technical audit-related topics throughout the year to raise awareness and enhance members’ knowledge, and issues implementation guidance to members on a regular basis. In addition, it offers continuing professional development courses that cover technical audit issues. It also operates an online service to assist members with ISA-related queries, which includes answers to complex questions in subsequently published implementation guidance for auditors.
The SKAU is encouraged to continue to review SMO 3 requirements and make revisions to its policies and practices where necessary to maintain compliance.
Because Slovak legislation requires the application of the IESBA’s Code of Ethics for Professional Accountants, the SKAU has adopted the 2014 version of IESBA’s Code of Ethics and focuses on convergence with the latest versions of the Code and raising member awareness of new and revised requirements.
The SKAU indicates in its 2015 SMO Action Plan that, in support of the convergence process, it monitors new and amended IESBA standards and incorporates them into its own Code of Ethics for Auditors. The SKAU states that its current Code of Ethics is fully aligned with the latest version of the IESBA’s Code of Ethics. There is an ongoing collaboration with Úrad pre dohl’ad nad výkonom auditu to ensure that revised ethics material is covered in professional examinations.
The SKAU participates in the international standard-setting process by providing comments on IESBA Exposure Drafts.
SKAU’s Code of Ethics for Auditors is published on the website and is also distributed to new members annually. The SKAU also issues guidelines on ethics for its members.
During the next round of updates, the SKAU is encouraged to showcase how it includes ethics-related topics in its continuing professional development course offerings.
The SKAU is not responsible for public sector accounting standard setting; however, in support of the adoption of IPSAS in Slovakia, it has assisted the Ministry of Finance (MoF) with the process of convergence of National Public Sector Standards with IPSAS.
The SKAU focuses on the provision of training and educational material to its members and public sector accountants to comply with the requirements of SMO 5. On an ongoing basis, it organizes and offers seminars, along with the MoF, on IPSAS and on the preparation of public sector financial statements. It also prepares publications, some jointly with the MoF, on accounting and auditing in the public sector. In addition, it has made available an online expert to answer questions on IPSAS.
The SKAU is encouraged to continue to support the MoF in the adoption of IPSAS in Slovakia. To support the convergence and implementation processes, it would also be beneficial to encourage the MoF to translate IPSAS into the Slovak language.
To achieve compliance with SMO 6, the SKAU’s Supervisory Board and the Disciplinary Commission independently hold meetings on a periodic basis throughout the year to review cases of members’ non-compliance with various requirements. From the 2015 SMO Action Plan Update, it appears that the main focus is on non-compliance discovered during quality assurance reviews.
The SKAU is encouraged to promote the establishment of an I&D system for all segments of accountancy profession in Slovakia that is in line with the requirements of SMO 6.
With no direct responsibility for the adoption or implementation of IFRS, the SKAU focuses on supporting the implementation of European Commission-endorsed IFRS in Slovakia.
The SKAU organizes and delivers training on technical IFRS areas by way of various annual conferences and seminars for its members. It also uses technology to enhance its members understanding of IFRS by providing online courses and online access to an IFRS “expert.” Also, the SKAU provides updates to its members on IASB activities and pronouncements by posting relevant information on its website.
Although IFRS for SMEs has not been adopted in Slovakia, the SKAU raises member and the other accounting professional awareness of the standards by posting standards-related material on its website.
The SKAU is encouraged to continue to provide implementation guidance on IFRS to its members, and to update its continuing professional development curriculum to incorporate new and revised requirements.
IFAC bears no responsibility for the information provided in the SMO Action Plans prepared by IFAC member organizations. Please see our full Disclaimer for additional information.