Essence of Changes:
The order introduces technical clarifications to two national accounting standards – NP(S)BO 25 “Simplified Financial Reporting” and NP(S)BO 1 “General Requirements for Financial Reporting”. The changes relate to the procedure for reflecting cost price in reporting and expanding the scope of regulation to include audit activities.
Structure:
The order consists of 5 points, which:
– Clarify the procedure for reflecting the cost of sold products in NP(S)BO 25
– Expand the scope of application of NP(S)BO 1 to include audit activities
– Determine the procedure for implementing changes
Key Provisions:
1. The cost of sold products shall be determined in accordance with NP(S)BO 16 “Expenses”
2. Audit activities are added to the regulatory scope of NP(S)BO 1 alongside accounting
3. Changes take effect from the day of official publication of the order
