Aspects Related to the Preparation and Submission of Annual Financial Statements and Annual Report and Accounts
- The Order contains provisions referring to:
- Annual financial statements of entities the fiscal year of which coincides with the calendar year;
- Annual report and accounts of entities the fiscal year of which differs from the calendar year;
- Entities that have chosen to apply the simplified accounting system;
- Newly established entities;
- Signing and submission of financial statements and reports;
- Penalties applicable for entities’ failure to comply with the legal provisions regarding the filling out and submission of annual statements and annual reports;
- Entities applying the International Financial Reporting Standards (IFRS). Major aspects:
- obligation of companies the securities of which may be traded on a regulated market to prepare and submit individual annual financial statements prepared on the basis of the International Financial Reporting Standards (IFRS), with effect from the beginning of 2012 fiscal year;
- information about the restatement of data contained in accounting records organised in compliance with the Fourth EEC Accounting Directive (transposed by Order 3.055 / 2009 of the Minister of Public Finance) and the trial balance as of 31 December 2012 containing data determined in accordance with IFRS provisions;
- entities’ obligation to file, together with the financial statements, a summary of IFRS-based restatement results in respect to accounting records organised in compliance with the Fourth EEC Accounting Directive (Order 3.055 / 2009 of the Minister of Public Finance).
