11.09.2009.
The receipt and processing of adopted financial statements for 2008 by the National Bank of Serbia is currently under way. From March 2009 (when the first adopted statements for 2008 were received) to date, statements were submitted by 1,967 out of 5,640 legal entities liable for submission of financial statements pursuant to the Accounting and Auditing Law. As the legally defined due date for the submission of adopted annual statements (30 September) and adopted consolidated financial statements (31 October) is nearing, the NBS wishes to remind all large and medium-sized legal entities, small legal entities operating as open- or closed-ended shareholder companies, as well as parent legal entities exercising control over a large or medium-sized consolidated entity, to arrange timely submission of the adopted financial statements to the NBS as provided by the Decision on Detailed Requirements and Method of Receiving, Reviewing and Processing of Financial Statements and Provision of Data Therefrom (“RS Official Gazette“ No. 129/07, 120/08 and 9/09).
Pursuant to the Law and the above Decision, adopted financial statement (annual or consolidated) must include the following:
1) Certified Auditor’s Opinion and Legal Representative’s Statement on the Adoption of Financial Statement – when the statement is adopted by the assembly or other relevant body of the legal entity without any corrections;
2) Notes to the Financial Statement, Certified Auditor’s Opinion and Legal Representative’s Statement on the Adoption of Financial Statement – when, with the exception of adopted Notes to the Financial Statement which are broader than those enclosed to the approved/consolidated financial statement, all other data remain unchanged;
3) Complete corrected version of adopted financial statement with the enclosed prescribed forms and Notes to the Financial Statement, Certified Auditor’s Opinion and Legal Representative’s Statement on the Adoption of Financial Statement – when a corrected version of the annual/consolidated financial statement is adopted by the assembly or other relevant body of the legal entity.
It follows from the above that data requirements, i.e. documentation to be submitted within the timeframe for the submission of adopted financial statements depend exclusively on the type of necessary corrections following the financial statement audit. In each of the three cases described above, the submitting entities are obligated to submit to the NBS duly signed and sealed original copies of the Certified Auditor’s Opinion and Legal Representative’s Statement on the Adoption of Financial Statement.
Adopted financial statements for 2008 can be submitted in hard copy or in electronic form. The RIApp software for the compilation of adopted annual financial statements in electronic form can be downloaded from the NBS website (www.nbs.rs). No fee is charged for the receipt and processing of adopted annual/consolidated financial statement, except when the statement is submitted in hard copy and for the first time in which case it is expressly requested.
Adopted financial statements should be submitted by registered mail to the following address: National Bank of Serbia, Unit for the Receipt of Financial Statements and Solvency, 22 Vase Stajića Street, 21 000 Novi Sad.
If the formal, mathematical and logical accuracy checking of submitted data and the documentation prescribed shows that the adopted financial statement is correct, the data from such statement are entered in the Financial Statements Database. If, however, any deficiencies are detected, a Notification on Deficiencies Detected in the Adopted Financial Statement is sent to the relevant submitting entity along with instructions for their removal. Information on the correctness of statements, acknowledgment of receipt and the details of deficiencies detected is available on the NBS website (“Search of Financial Statements”).
For any further information, please contact the NBS Branch in Novi Sad, Unit for the Receipt of Financial Statements and Solvency, at the following telephone numbers: 021/4880-693 and 021/4880-694.
Governor`s Office
