New Law on Accounting - 2022 - Montenegro

The new law on accounting has been published in the Official Gazette of Montenegro ", No. 145/21 of 31.12.2021.

The application of this law will be active for the Financial Statements prepared for the reporting period from January 1, 2022 onwards.

The main changes relate to:

• The deadline for submitting consolidated financial statements is May 31. which is a shorter deadline compared to the previous version of the law.

• In addition to the standard set (Balance Sheet, Income Statement and Statistical Annex), small and micro legal entities are obliged to compile abbreviated notes to the financial statements.

• Licensing of certified appraisers is regulated in more detail.

In attached you can find the new text of the law.

Zakon o racunovodstvu 2022

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