Slovenian Institute of Auditors

The quality assurance (QA) review system in Slovenia is administered by the Agency for Public Oversight of Auditing (APOA), which is responsible for inspections of all audit firms and statutory auditors. Public interest entity auditors are inspected at least every three years and other statutory auditors at least every six years, in line with European Union requirements.

The Slovenian Institute of Auditors (SIA) has no direct responsibility for administering QA reviews but continues to support implementation through professional training, technical support, and member guidance. SIA serves as the central professional body for auditors in Slovenia and provides training and professional support to promote audit quality and continuous development.

SIA has translated and published quality management standards, including International Standard on Quality Management (ISQM) 1, which is effective for audits and reviews of financial statements, other assurance engagements, and related services engagements from December 15, 2022. SIA also continues to support members through training and implementation resources related to ISQM 1 and ISQM 2.

SIA demonstrates sustained best-endeavors activities by supporting members in understanding and implementing quality management requirements and preparing for APOA inspections. Accordingly, SIA continues to fulfill the relevant SMO 1 requirements at Sustain.

Current Status: Sustain

The Auditing Act (ZRev-2) establishes the initial and continuing professional development requirements for certified auditors and certified appraisers. The Agency for Public Oversight of Auditing (APOA) defines professional competence and practical training requirements for certified auditors, while the Slovenian Institute of Auditors (SIA) implements education programs, examinations, licensing support, and continuing professional development activities under the applicable regulatory framework. Candidates for the certified auditor designation must complete a second-level higher education program, obtain at least five years of work experience, including at least three years in auditing, pass the professional examination, and meet good repute and Slovenian language requirements.

SIA continues to provide education and continuing professional development for certified auditors, certified appraisers, and other professional titles within its membership, including accountants, internal auditors, tax advisers, business finance experts, and information systems auditors. Certified auditors must renew their license every two years by completing additional professional training, while continuing professional development requirements support ongoing competence.

SIA indicates that its education and continuing professional development programs incorporate relevant developments in auditing, financial reporting, ethics, and other professional areas. However, the extent to which the full International Education Standards, including the competency-based learning outcomes approach and recent revisions addressing information and communications technologies and professional skepticism, have been fully incorporated across all SIA professional categories remains unclear.

SIA is encouraged to document the alignment of its education and continuing professional development requirements with the current International Education Standards, including for voluntary professional titles, and to use the results to further strengthen its programs and stakeholder engagement with APOA.

Current Status: Review & Improve

The Auditing Act (ZRev-2) adopts International Standards on Auditing (ISA) and other International Auditing and Assurance Standards Board (IAASB) pronouncements as issued by the IAASB, including the effective dates, for application in all mandatory audits in Slovenia. The Agency for Public Oversight of Auditing may adopt additional auditing rules where necessary.

The Slovenian Institute of Auditors (SIA) plays a sustained implementation role by translating IAASB pronouncements into Slovenian, publishing standards for use by the profession, and supporting members through continuing professional development, technical guidance, conferences, articles, and direct communications. Recent IFAC Translations Database entries confirm SIA’s completed translations of ISA 315 (Revised 2019), International Standard on Quality Management (ISQM) 1, and ISQM 2 in 2024.

SIA has also demonstrated strong implementation support for quality management standards, including training, an e-learning space, workshops, and practical tools to help smaller audit firms design and implement systems of quality management.

SIA maintains a timely translation and implementation support process for IAASB pronouncements and continues to fulfill the relevant SMO 3 requirements at Sustain.

Current Status: Sustain

The Auditing Act (ZRev-2) requires certified auditors in Slovenia to comply with the International Code of Ethics for Professional Accountants, including International Independence Standards, as issued by the International Ethics Standards Board for Accountants (IESBA). The Slovenian Institute of Auditors (SIA) also requires its members, including certified appraisers and other professional categories, to refer to the Code.

SIA continues to support implementation by translating the Code, integrating ethics into initial and continuing professional development, and monitoring IESBA developments. SIA has published the Slovenian translation of the 2024 edition of the Code, which was translated in March 2026 and is available on SIA’s professional rules page.

However, the 2025 IESBA Handbook includes the tax planning and related services provisions, which became effective for tax planning services and activities beginning after June 30, 2025. It also includes further revisions, including the International Ethics Standards for Sustainability Assurance and provisions on using the work of an external expert, which become effective mainly from December 2026.

SIA is encouraged to adopt and support implementation of the tax planning and related services provisions that are now effective, and to prepare members for upcoming provisions included in the 2025 Handbook, including sustainability assurance and external expert-related revisions.

Current Status: Review & Improve

The Ministry of Finance is responsible for public sector accounting requirements in Slovenia. The framework is established through public finance and accounting legislation and related secondary regulations, and the current public sector reporting framework remains based on national standards rather than International Public Sector Accounting Standards (IPSAS).

The Slovenian Institute of Auditors (SIA) has no direct responsibility for IPSAS adoption but continues to use best endeavors by engaging with the Ministry of Finance, monitoring IPSASB developments, and informing relevant stakeholders and members of new IPSASB pronouncements and related developments. SIA also supports the profession through training, professional guidance, and technical support for its members.

SIA has indicated continued efforts to support convergence toward IPSAS, including work on a Slovenian standard intended to help bridge existing national requirements and IPSAS-based reporting. While IPSAS have not been adopted at the jurisdiction level, SIA demonstrates sustained best-endeavors activity within its limited authority. Accordingly, SIA continues to fulfill the relevant SMO 5 requirements at Sustain.

Current Status: Sustain

The investigation and discipline (I&D) system in Slovenia is established under the Auditing Act (ZRev-2). The Agency for Public Oversight of Auditing (APOA) is responsible for investigating and imposing sanctions on certified auditors and audit firms, including measures intended to detect, deter, and prevent violations of auditing requirements.

APOA is directly responsible for sanctioning procedures for audit firms and certified auditors, while administrative courts are responsible for appeals. The Slovenian Institute of Auditors (SIA) retains responsibilities for certain investigation processes involving certified appraisers under APOA oversight and handles complaints involving other professional categories within its membership.

SIA continues to support the operation of the I&D framework through member requirements, complaints processes, and implementation support linked to ethics and professional standards. The framework is operational and aligned with the SMO 6 requirements. Accordingly, SIA continues to fulfill the relevant SMO 6 requirements at Sustain.

Current Status: Sustain

The Slovenian Institute of Auditors (SIA) is responsible for developing Slovenian Accounting Standards (SAS), which may be applied by entities not required to apply European Union-endorsed International Financial Reporting Standards (IFRS). The 2024 SAS were developed by SIA and approved for application, reflecting the institute’s ongoing role in maintaining national accounting standards.

SIA continues to support implementation by monitoring IFRS developments, updating SAS where relevant, coordinating translation activities, and informing members of new and revised IFRS through continuing professional development, technical guidance, and professional publications. Slovenia requires EU-endorsed IFRS for domestic publicly accountable entities, while other entities may apply EU-endorsed IFRS or SAS under the Companies Act (ZGD-1).

SIA demonstrates sustained activities to support the adoption and implementation of IFRS and related corporate reporting requirements within its area of responsibility. Accordingly, SIA continues to fulfill the relevant SMO 7 requirements at Sustain.

Recent jurisdictional developments include the continued application of EU sustainability reporting requirements, including Corporate Sustainability Reporting Directive-related transposition and subsequent timing changes under the EU “stop-the-clock” directive. SIA is encouraged to monitor these developments as they affect corporate reporting and assurance expectations in Slovenia.

Current Status: Sustain