Act no. 431/2002 Coll. on Accounting as amended 
by Act no. 562/2003 Coll., Act no. 561/2004 Coll., Act no. 518/2005 Coll.,  Act no. 688/2006 Coll., Act no. 198/2007 Coll., Act. no. 540/2007 Coll., Act no. 621/2007 Coll., Act no. 378/2008 Coll., Act no. 465/2008 Coll., Act no. 567/2008 Coll.,  Act no. 61/2009 Coll., Act no. 492/2009 Coll., Act no. 504/2009 Coll., Act no. 486/2010 Coll., Act no. 547/2011 Coll., Act no. 440/2012 Coll., Act no. 352/2013 Coll., Act no. 463/2013 Coll., Act no. 333/2014 Coll., Act no. 130/2015 Coll., Act no. 423/2015 Coll., Act No. 125/2016 Coll., Act No. 264/2017 Coll. and Act No. 275/2017 Coll.

The National Council of the Slovak Republic has passed the Act as follows:

PART ONE
Basic and general provisions

Article 1
Subject matter of the Act

(1) This Act governs: 
a)	the scope, methodology and verifiability of accounting by
1.	legal persons1) having their registered offices in the Slovak Republic,
2.	non-resident persons2) doing business or conducting other activities in the Slovak Republic under separate regulations,3)
3.	natural persons doing business or undertaking other independent earning activities where they report expenses incurred for acquiring, assuring and maintaining income in order to determine their income tax base under a separate regulation4) except for natural persons who keep tax records pursuant to a separate regulation,4a)
b)	the scope, content and verifiability of financial statements,
c)	financial statements register (hereinafter “register“).

(2) The persons referred to in paragraph (1)(a) shall be deemed accounting entities.
 
Article 2
General provisions

(1) An accounting entity shall keep accounts in the double-entry bookkeeping system or in the single-entry bookkeeping system (article 9). 

(2) The subject matter of accounting comprises the keeping record of:
a)	the state and movement of assets,
b)	the state and movement of liabilities, 
c)	the difference between assets and liabilities, 
d)	income,
e)	expenses,
f)	cash receipts, 
g)	cash expenditures, 
h)	profit or loss of the accounting entity; (hereinafter referred to as "accounting transactions").

(3) The subject matter of accounting also includes the reporting in the financial statements of facts related to the transactions specified in paragraph (2), including off-balance sheet assets and off-balance sheet liabilities. 

(4) For the purposes of this Act,
a)	asset means those of an accounting entity's total on- and off-balance sheet assets which result from past events and which virtually certain increase the accounting entity's future economic benefits, may be reliably valued according to articles 24 to 28, and are presented in the financial statements either in the balance sheet or in the statement of assets and liabilities,
b)	liability means an accounting entity's existing obligations which arise from past events and which are expected to reduce the accounting entity's future economic benefits, may be reliably valued according to articles 24 to 28 and are presented in the financial statements either in the balance sheet or in the statement of assets and liabilities,
c)	income means an increase in an accounting entity's economic benefits during an accounting period which may be reliably valued,
d)	economic benefit means the possibility of directly or indirectly contributing to cash flows and cash equivalents,
e)	expense means a decrease in an accounting entity's economic benefits during an accounting period which may be reliably valued,
f)	cash receipt means an accounting entity's inflow of cash or cash equivalents,
g)	cash expenditure means an accounting entity's outflow of cash or cash equivalents,
h)	profit or loss means the valued final effect of an accounting entity's activities in an accounting period,
i)	total on- and off-balance sheet assets means economic resources which arise from past events and which are expected to result in an increase in the future economic benefits; total on- and off-balance sheet assets comprise assets and off-balance sheet assets, 
j)	off-balance sheet asset means total on-and off-balance sheet assets which do not meet the conditions for being recorded in the ledger accounts and which shall be presented in the notes to the financial statements,
k)	total on- and off-balance sheet liabilities means the sources of assets representing the total amount of liabilities of an accounting entity, including off-balance sheet liabilities and the difference between assets and liabilities, 
l)	off-balance sheet liabilities mean an accounting entity's liabilities which do not meet the conditions for being recorded in the ledger accounts and which shall be shown in the notes to financial statements,
m)	participating  interest means  at least a twenty-percent share in the share capital of the other accounting unit held to create a permanent connection with this other accounting unit for the purpose of enabling the contributing of such a connection to the accounting unit activity.

(5) For the purposes of this Act, an enterprise, cooperative or natural person pursuant to article 1(1)(a)(3) keeping accounts in the double-entry bookkeeping system, natural person pursuant to a separate regulation4b) and land community,4c) are classified into size groups as follows:
a)	micro accounting unit,
b)	small accounting unit, or
c)	large accounting unit.

(6) An accounting unit that meets at least two of the following conditions is classified as a micro accounting unit:
a)	total sum of assets did not exceed EUR 350,000, 
b)	net turnover did not exceed EUR 700,000,
c)	the average calculated number of employees did not exceed ten during the accounting period.

(7) An accounting unit that meets at least two of the following conditions is classified as a small accounting unit:
a)	total sum of assets exceeded EUR 350,000 but did not exceed EUR 4,000,000,
b)	net turnover exceeded EUR 700,000 but did not exceed EUR 8,000,000,
c)	the average calculated number of employees exceeded 10 but did not exceed 50 during the accounting period.

(8) An accounting unit that meets at least two of the following conditions is classified as a large accounting unit:
a)	total sum of assets exceeded EUR 4,000,000,
b)	net turnover exceeded EUR 8,000,000,
c)	the average calculated number of employees exceeded 50 during the accounting period.

(9) The total sum of assets pursuant to paragraphs 6 through 8 is understood as the amount determined from the balance sheet with valuation of adjustments by items specified in article 26 (3).

(10) The accounting entities referred to in Article 2(5) shall be classified in a size class on the basis of the meeting of the conditions referred to in Article 2(6) through (8) as of the first day of the accounting period; the meeting of the conditions for two immediately preceding accounting periods shall be assessed. The accounting unit is obliged to change its classification into a different size group from the following accounting period after  two immediately  and consecutive accounting periods in which it exceeds or no longer fulfils the conditions stipulated in paragraphs 6 through 8 unless paragraphs 11 and 12 stipulate otherwise. The conditions for an abbreviated accounting period pursuant to article 3(5) are not considered in the evaluation of conditions pursuant to paragraphs 6 through 8 if the accounting period itself is changed. An accounting unit not fulfilling the preconditions for its classification in the size classes according to paragraphs 5 to 8 will be classified as a small accounting unit. An accounting unit will not change its classification in the size group after it enters into liquidation or after a bankruptcy proceeding has been initiated.

(11) A newly created accounting unit is classified into the size group of its own decision and remains in this size group for the immediately following accounting period and it doesn't proceed pursuant to paragraph 12. If, in the event of dissolution without liquidation, the accounting unit which becomes the legal successor7c) of the legal entity being dissolved ("successor accounting entity") is not a newly created accounting unit, such unit is obligated to revise as of the decisive day its classification into the size groups again and take into consideration the size of assets and the average number of employees assumed from the accounting unit being dissolved.

(12) An accounting unit that meets the requirements for a micro accounting unit may act as a small accounting unit.

(13) Paragraphs 5 through 12 are not applicable to accounting unit listed in article 17a and 17b or it is public interest entity.

(14) For the purposes of this Act, a public interest entity is considered an accounting unit that has issued securities admitted to trading on a regulated market in any Member State of the European Union ("Member State"), bank, branch of a foreign bank, the Export-Import Bank of the Slovak Republic, insurance company, a branch office of a foreign insurance company, reinsurance company, a branch office of a foreign reinsurance company, health insurance company, asset management company, a branch office of a foreign asset management company, pension asset management company, supplementary pension asset  management company, stock exchange, central securities depository, securities trader, payment institution, electronic money institution, collective investment entity, pension fund, a branch office of a foreign financial institution29db) and an accounting unit stipulated in article 17a(2).

(15) Net turnover for the purposes of this Act includes revenues from the sales of goods, merchandise and services after deducting discounts. Net turnover includes also other revenues after deducting discounts for an accounting unit whose business activities include revenues other than those resulting from the sales of goods, merchandise and services.

Article 3

(1) An accounting entity shall record and report transactions in the period to which they relate temporally and factually (in this Act referred to "the accounting period"). If this principle cannot be observed, such transactions shall be recorded and reported in the period when the relevant facts were identified by the accounting entity.
 
(2) An accounting entity shall conduct accounting procedures during an accounting period in accordance with article 4(2). The accounting entity shall record income and expenses in the accounting period in which they are incurred regardless of the date of payment or collection thereof or the date of settlement by other methods. Cash receipts and cash expenditures shall always be recorded in the accounting period in which they are paid or collected.

(3) An accounting period shall be identical to a calendar year, unless laid down otherwise by this Act.
 
(4) An accounting period may also be equivalent to a financial year. The financial year shall be a period of 12 consecutive calendar months not identical with a calendar year.

(5) Any change to an accounting period may only be effected to the first day of a calendar month. When the accounting period is changed, the period from the end of the preceding accounting period to the beginning of the next accounting period shall be an accounting period shorter than 12 calendar months. This shall apply as appropriate when an accounting entity is being incorporated or dissolved; upon the incorporation of an accounting entity the first accounting period shall commence on the date of its incorporation and the last accounting period of an accounting entity being dissolved shall terminate on the date of its dissolution.
 
(6) An accounting entity shall apply an accounting period that is a financial year by written notice to the tax authority
a)	within 30 days from the incorporation of the accounting entity or	
b)	not less than 15 days prior to a change of an accounting period of the accounting entity.47a)

(7) If the notice according to paragraph (6) has not been delivered to the tax authority within the term determined, the accounting entity may not apply the accounting period that is a financial year. The accounting entity shall apply the accounting period that is a financial year for at least one accounting period. The accounting entity shall proceed accordingly in the case of a change of a financial year to a calendar year or at a change of a financial year to another financial year.
 
(8) An accounting period that is a financial year may not be applied by an accounting entity that is a subject of public administration5) (hereinafter referred to as “accounting entity of public administration“), a legal person with a state equity participation established in compliance with special regulations,29b) a legal person with a municipal equity participation or a legal person with an equity participation of a higher territorial unit and accounting entity referred to in article 1 paragraph (1) letter (a) in the third clause.

Article 4

(1) An accounting entity that is a legal person shall keep accounts from the date of its incorporation until the date of its dissolution except as provided by paragraph (3); a natural person who reports expenses incurred for acquiring, assuring and maintaining income in order to determine their income tax base shall keep accounts for as long as they do business or conduct other independent earning activities.

(2) The Ministry of Finance of the Slovak Republic (in this Act referred to as "the Ministry") shall lay down, by decree, details regarding framework charts of accounts (article 13) applicable to individual groups of accounting entities that keep accounts in the double-entry bookkeeping system; accounting transaction dates; accounting procedures; the structure and designation of items in the individual financial statements and in the consolidated financial statements in public administration, including the contents of such items and the structure of the financial statements; the extent of data in financial statements intended for publication; the dates, methodologies, procedures and location of filing financial statements and annual reports; the content of books of account in the single-entry bookkeeping system and in the double-entry bookkeeping system; accounting principles and accounting policies used to specify methods of valuation and their application, principles for creating and recording provisions; depreciation; principles for the creation and use of reserves; principles for itemising assets and liabilities; principles for maintaining analytical accounts and keeping analytical records; methods and procedures of consolidation in public administration; and accounting systems. The Ministry shall promulgate the measure by announcing its publication in the Collection of Laws8) and the accounting entity shall be required to adhere thereto.
 
(3) An accounting entity which is a legal person and is being wound up without liquidation shall keep accounts up until the date preceding the decisive date. For the purposes of accounting, the ‘decisive date’ means the date set according to a separate regulation,7a) which shall not occur later than as of the effective date of the merger, amalgamation or division.7b) As of the decisive date, all bookable transactions of the wound-up legal entity shall appear on the books and in the financial statements of the accounting successor accounting entity. If the successor accounting entity has not yet been incorporated, the accounts shall be kept and financial statements prepared until the effective date of the merger or division7b) by the accounting entity that is being wound up. As of the decisive date, the accounts shall be kept in a manner that enables clear quantification of the assets, liabilities and profit/loss of the accounting entity that is being wound up if the effects of the merger, amalgamation or division7b) do not occur.

(4) An accounting entity shall be required to keep accounts and prepare financial statements for itself as a whole. Separate regulations may provide for cases where the accounting entity must keep separate accounts and prepare separate financial statements for itself and in respect of the assets and liabilities of third parties which the accounting entity disposes in its own name.9)

(5) An accounting entity shall keep accounts in the form of a system of accounting records in accordance with article 31(2). Accounting records shall be understood to mean data containing information on the subject matter of accounts or the methodology for keeping them. The accounting entity is required to keep accounting records only for information relating to the subject matter of accounts or to the methodology for keeping them.

(6) Accounting records include especially accounting documents, accounting entries, books of account, a depreciation schedule, inventory lists, an accounting schedule, financial statements and an annual report. Individual accounting records may be grouped into accounting records containing summary information (in this Act referred to as "summary accounting records"). An accounting entity shall keep accounting records to the extent laid down by this Act.

(7) An accounting entity shall be required to keep accounts and prepare financial statements in monetary units of the Euro. Where receivables and payables, shares,10) securities,11) derivatives,11) cash, stamps and vouchers are expressed in a foreign currency, the accounting entity shall be required to record them in both the euro and foreign currency; this obligation shall also apply to provisions, reserves and technical provisions12) where the assets and liabilities to which they pertain are expressed in a foreign currency. 

(8) An accounting entity must keep books and draw up financial statements in the state language.13) Any accounting document executed in a language other than the state language must satisfy the condition of comprehensibility according to article 8(5). 

Article 5

(1) An accounting entity may entrust the keeping of its accounts to another legal or natural person.

(2) The entrustment under paragraph (1) does not relieve the accounting entity of its responsibility to keep accounts, to prepare and submit financial statements and to ensure the verifiability of its accounts to the extent required by this Act.

Article 6

(1) An accounting entity must substantiate all transactions with accounting documents (article 10).

(2) An accounting entity shall record transactions in its books of account only by making accounting entries based on accounting documents.

(3) An accounting entity shall take stock of its assets, liabilities and the difference between assets and liabilities according to articles 29 and 30.

(4) An accounting entity shall be required to prepare its individual financial statements in accordance with its books according to Articles 17 and 18 or prepare an individual financial statement according to Article 17a. In the cases referred to in article 22 and 22a, the accounting entity shall also prepare financial statements for the group of accounting entities irrespective of their domiciles (in this Act referred to as "a consolidated entity") in the form of consolidated financial statements. The parent accounting unit with all its subsidiary accounting units belongs to the group of accounting units.
 
(5) An accounting entity shall prepare:
a)	ordinary financial statements,
b)	extraordinary financial statements,
c)	interim financial statements (article 18) where required by a separate regulation.14)

Article 7

(1) An accounting entity shall keep accounts in such a way that its financial statements present a true and fair view of facts subject to the bookkeeping and of its financial situation.
 
(2) The presentation in the financial statements is fair if the contents of individual items correspond to the respective facts and comply with the applicable accounting principles and accounting policies. The presentation in the financial statements is true if the financial statements are prepared using accounting principles and policies that lead to a fair presentation of the facts in the financial statements.
 
(3) An accounting entity must apply the same accounting policies and accounting principles within the one accounting period; if an accounting entity changes the existing accounting policies and accounting principles in the course of an accounting period, the new accounting principles and accounting policies must be applied as of the first date of that accounting period. An accounting entity shall be required to provide information about a change in its accounting principles and accounting policies in the notes to the financial statements. If an accounting entity establishes that the accounting principles and accounting policies applied in the accounting period are incompatible with the true and fair view requirement, the accounting entity shall be required to prepare its financial statements in such a way that gives a true and fair view. The accounting entity shall provide information thereof in the notes to the financial statements.

(4) An accounting entity shall apply accounting principles and accounting policies based on the assumption that it is a going concern and that there are no facts that could restrict or prevent it from being a going concern in the near future, that is, within 12 months of the preparation of the ordinary financial statements. If the accounting entity possesses information about any such facts, it is required to use the corresponding accounting methodology and to state information on the use of the methodology in its notes to the financial statements.
 
(5) An accounting entity shall record assets and liabilities, income and expenses, cash receipts and cash expenditures in its books of account, and present them separately without mutual setoffs in its financial statements, except for transactions regulated by accounting principles applicable to accounting entities established under separate regulations.15)

Article 8

(1) An accounting entity shall keep accounts correctly, completely, verifiably, comprehensibly and in a way that ensures the permanence of the accounting records.

(2) An accounting entity keeps accounts correctly if its bookkeeping is carried out in accordance with this Act and other separate regulations.

(3) An accounting entity’s accounts and books are complete if the accounting entity has recorded all transactions during the accounting period in its books of account according to article 3, and if for this period it has prepared individual financial statements, consolidated financial statements, if applicable, issued an annual report according to article 20 or a consolidated annual report, if applicable, published the data according to article 23d, deposited documents according to article 23a has kept accounting records of all of these facts.
 
(4) An accounting entity keeps accounts verifiably if all of its accounting records are verifiable (article 32) and the accounting entity has taken stock of its inventory.

(5) An accounting entity keeps accounts comprehensibly if, in accordance with article 4(8), it is possible to determine reliably and unequivocally the contents of transactions both individually and in connection with the applied accounting principles and accounting policies (article 4(2)), as well as the contents of accounting records in connection with the form of records used by the accounting entity (article 31(2)).

(6) An accounting entity shall keep accounts in a manner that ensures the permanence of accounting records, provided that the accounting entity is capable of ensuring such permanence for the duration of processing and safekeeping under articles 31 to 36.

PART TWO
Accounting systems, accounting documents, accounting entries and books of account 

Article 9
Accounting systems

(1) An accounting entity shall keep accounts in the double-entry bookkeeping system, except as provided for in paragraph (2).

(2) The following accounting entities may keep accounts in the single-entry bookkeeping system:
a)	an entrepreneur who is allowed to do so under a separate regulation,16)
b)	a natural person (article 1(1)(a)(3)), 
c)	civic associations and its organizational units  which have a legal personality, branches of Matica slovenská which have a legal personality, associations of legal persons, association of owners of flats and non-residential premises, non-investment funds, hunting organisations and non-profit organisations providing generally beneficial services, provided they are not conducting business and that their income did not reach EUR 200,000 in the preceding accounting period provided that they are not a public administration entity,5)
d)	churches and religious societies, their bodies and denominational institutions which have a legal personality, provided that they do not conduct business.

(3) An accounting entity that fails to meet the conditions for single-entry bookkeeping as set out in article 2 shall be required to change over from the single-entry bookkeeping system to the double-entry bookkeeping system. A transition from the single-entry bookkeeping system to the double-entry bookkeeping system and from the double-entry bookkeeping system to the single-entry bookkeeping system shall always take effect as of the first day of the accounting period following the accounting period when the accounting entity ascertained the facts justifying such a transition.

Article 10
Accounting documents

(1) An accounting document shall be a verifiable accounting record stating the following:
a)	the word and numeric designation of the accounting document,
b)	the content of the accounting transaction and identification of parties thereto,
c)	the monetary sum or price per measuring unit and the valuation of the amount,
d)	the date of issue of the accounting document,
e)	the accounting transaction date if not the same as the date of issue,
f)	a signature record of the person (article 32(3)) responsible for the transaction by the accounting entity and a signature record of the person responsible for the entry,
g)	the designation of accounts wherein a transaction shall be entered by an accounting entity keeping accounts in the double-entry bookkeeping system, unless such a designation is generated in the applicable software.

(2) An accounting entity shall make out an accounting document without undue delay upon learning of the fact evidenced by the accounting document, so that the content of each individual transaction can be determined in the manner pursuant to article 8(5). 

Article 11
Accounting entries

(1) Accounting entries are records made in the books of account.
 
(2) An accounting entity shall hereby record accounting entries during the accounting period continuously.
 
(3) An accounting unit cannot perform any accounting records outside the accounting books, perform any record on an accounting case which has not occurred, and conceal or not recognise any fact that is a subject to the accounting.

Article 12
Books of account in the double-entry bookkeeping system

(1) An accounting entity keeping accounts in the double-entry bookkeeping system shall keep the following books of account:
a)	a general journal showing accounting entries in chronological order as evidence of having duly entered all transactions in the accounting period,
b)	a general ledger showing accounting entries systematically from a substantive point of view, as evidence of the fact that all transactions have been recorded in the accounts of assets, liabilities, the difference between assets and liabilities, expenses and income.

(2) The general ledger shall comprise synthetic accounts and analytical accounts as specified in the accounting schedule, showing the following information in particular:
a)	the states of accounts as at the opening date of the general ledger,
b)	the turnovers of the Credit and Debit sides in individual accounts, summarised at least every month,
c)	balances and states of accounts as at the date of preparation of the financial statements.
(3) Accounting entries made in the synthetic account shall be itemized in detail in analytical accounts.
 
(4) All transactions recorded in the general journal shall be entered in the general ledger as well.
 
(5) An accounting entry not recorded in the books of account pursuant to paragraph (1) shall be recorded in the off-balance sheet accounts.

(6) An accounting entity shall neither record transactions in accounts unspecified in the accounting schedule, nor shall open account outside the books of account

Article 13
Framework chart of accounts and accounting schedule

(1) A framework chart of accounts shall comprise classes of accounts or groups of accounts or synthetic accounts used to record individual transactions, including the numerical and verbal designation thereof, and off-balance sheet accounts, all of which must be arranged in compliance with the requirements applying to the preparation of financial statements.

(2) In accordance with the framework chart of accounts pursuant to paragraph (1), an accounting entity shall draw up an accounting schedule containing the synthetic accounts and analytical accounts necessary for recording all transactions in the accounting period and for preparing financial statements and off-balance sheet accounts. An accounting entity may, if necessary, extend the accounting schedule during the accounting period. Unless the list of accounts is changed as at the first day of a new accounting period, the accounting entity may continue to use the accounting schedule applicable in the preceding accounting period. 

Article 14

(1) Financial sums entered in the analytical accounts must correspond with the respective totals of financial sums in the opening balances, turnovers of the Credit and Debit account sides, ending balances and closing balances of the synthetic accounts to which the analytical accounts are related.

(2) Analytical accounts are part of analytical records kept in monetary units. If required by the nature of assets, analytical accounts may also be expressed in quantitative units and may show other information as required by the accounting entity.
 
(3) An accounting entity shall keep lists of its books of account and lists of numerical codes or other symbols and/or acronyms used in the books of account and other accounting records, including the necessary explanations.

Article 15
Books of account in the single-entry bookkeeping system

(1) An accounting entity keeping accounts in the single-entry bookkeeping system shall keep the following books of account:
a)	a cash receipts journal, 
b)	a receivables ledger,
c)	a payables ledger,
d)	subsidiary ledgers where required for the purpose of documenting and reporting the subject matter of accounting in the financial statements; for example, a subsidiary ledger of individual assets or of liabilities arising from labour relations.

(2) The cash receipts journals shall state especially information on:
a)	the financial position of the accounting entity in cash and in its bank accounts,
b)	revenues in the accounting period, itemized as required for determining the income tax base,
c)	expenses in the accounting period, itemized as required for determining the income tax base,
d)	interim items used to monitor cash flows which are not as yet income or expenses in the sense of letters (b) and (c).

(3) The receivables ledger shall state especially information on:
a)	debtors,
b)	cash receivables,
c)	advance payments,
d)	loan receivables,
e)	income tax receivables
f)	receivables from indirect taxes,
g)	receivables from the Social Insurance Company17) and the respective health insurance company.19)

(4) The payables ledger shall state especially information on:
a)	creditors,
b)	cash payables,
c)	advance payments,
d)	loan payables,
e)	income tax liabilities,
f)	liabilities for income tax,
g)	payables to the Social Insurance Company17) and the respective health insurance company.19)

Article 16
The opening and closing of books of account

(1) An accounting entity that is a legal person shall always open its books of on the following dates:
a)	the date of its incorporation except as laid down by paragraph (2),
b)	the first day of an accounting period,
c)	as of the decisive date,
d)	as of the effective date of the change of the legal form to the legal form with a different accounting system.
 
(2) The successor accounting entity shall open the accounting books as of the decisive date. If the successor accounting entity has not yet been incorporated, the accounting books shall be opened on its behalf by the accounting entity that is being wound up. In the case of a merger, the successor accounting entity shall continue to keep its books after having added accounts from the opening balance sheet.

(3) An accounting entity that is a natural person shall always open its accounting books as of the following dates:
a)	the date of commencing business or other earning activities, 
b)	the first day of an accounting period.

(4) An accounting entity that is a legal person shall always close its accounting books as of the following dates
a)	the date of dissolution where so provided by a separate regulation,20)
b)	the last day of an accounting period, 
c)	as of the date preceding the decisive date,
d)	the day immediately preceding either the date of entering into liquidation proceedings or the date that a declaration of bankruptcy takes effect,
e)	as of the day preceding the effective date of the change of the legal form to the legal form with a different accounting system.

(5) Unless laid down otherwise by a separate law,21) an enterprise undergoing a transformation of its legal status shall not close its accounting books.

(6) An accounting entity that is a natural person shall always close its accounting books as of the following dates:
a)	the last day of an accounting period, 
b)	the date of termination of business or other earning activities, 
c)	the day immediately preceding the date that a declaration of bankruptcy takes effect.

(7) An accounting entity in the accounting period from the date of entering into liquidation proceedings to the date of their conclusion shall open its books of account as of the date of entering into liquidation proceedings and shall close its books of account as of the date when the proceedings are concluded. If the accounting entity is declared bankrupt during liquidation, the accounting entity shall proceed in accordance with paragraph 8.

(8) An accounting entity in the accounting period from the date, on which a declaration of bankruptcy takes effect, to the date, on which a decision on the discharge of bankruptcy takes effect, shall open its books of account as of the date, on which a declaration of bankruptcy takes effect, and shall close its books of account as of the date, on which a decision on the discharge of bankruptcy takes effect.

(9) Unless laid down otherwise by this Act, the closed accounting books shall not be reopened after the financial statements have been prepared except as provided for in paragraph (10).

(10) Closed books of account may be reopened before approval of the financial statements where this is necessary to ensure a true and fair view of facts subject to the bookkeeping (article (7)).

(11) An accounting entity that after having approved its financial statements identifies any incompatibility in its data for the preceding accounting period (article 17(9)) shall correct the data in the accounting period when the incompatibility was identified, and supply information thereof in the notes to the financial statements.
 
(12) An accounting entity keeping accounts in the double-entry bookkeeping system shall observe the principle that the closing balances of accounts reported in the balance sheet as of the last day of the accounting period must be identical to the opening balances of the same accounts as of the first day of the following accounting period. The same shall apply to accounts kept in the book of off-balance sheet accounts.

(13) An accounting entity keeping accounts in the single-entry bookkeeping system shall observe the principle that the closing balances of assets and liabilities in individual books of account as at the date of financial statements must be identical to the opening balances of assets and liabilities in individual books of account as of the first day of the following accounting period.

PART THREE
Financial statements

Article 17

(1) Financial statements are a structured representation of the facts, representing the subject to accounting, to persons who use this information (hereinafter referred to as "Users"). An accounting entity shall prepare financial statements in cases provided for by this Act in the structure, which follows the bookkeeping system used by the accounting entity. The financial statements represent an integral whole.

(2) The financial statements shall state the following general requisites:
a)	the business name or designation of the accounting entity; a legal person shall state its registered office, and a natural person shall state their place of business, 
b)	the identification number of the accounting entity if one has been assigned,
c)	the balance sheet date,
d)	the date of preparation of the financial statements,
e)	the period for which the financial statements are prepared,
f)	other details presented on the cover page of the financial statements stipulated by the Ministry's decree,
g)	a signature record of the statutory body or that of a member of the statutory body of the accounting entity, or a signature record of a natural person pursuant to article 1(1)(a)(3).
(3) Financial statements in the double-entry bookkeeping system shall include the following components in addition to the general requisites specified in paragraph (2):
a)	a balance sheet,
b)	a profit and loss statement,
c)	notes to the financial statements.

(4) Financial statements in the single-entry bookkeeping system shall include the following components in addition to the general requisites specified in paragraph (2):
a)	an income and expenses statement,
b)	an assets and liabilities statement.

(5) An accounting entity shall prepare financial statements not later than six months before the balance sheet date, unless laid down otherwise by a separate regulation. A signature deed according to paragraph 2 letter (g) must be attached to the prepared  financial statements.

(6) An accounting entity shall always prepare financial statements at the time when it closes accounting books pursuant to article 16. In the case of a merger, the accounting entity shall not close its accounting books and shall establish closing balances on the accounts for the purpose of preparing the opening balance sheet. The accounting entity shall prepare ordinary financial statements if the accounting books are to be closed as of the last day of the accounting period, and it shall prepare extraordinary financial statements in other cases specified in article 16. If the date as of which the ordinary or extraordinary financial statements are prepared is identical with the date of the interim financial statements, the interim financial statements shall not be prepared. If the date as of which extraordinary financial statements are prepared coincides with the date of the ordinary financial statements, the thus prepared financial statements shall be considered ordinary financial statements.

(7)  An accounting entity shall prepare an opening balance sheet
a)	as of the date of its incorporation, except for the accounting entity whose opening balance sheet has been prepared as of the decisive date;
b)	as of the date of entering into liquidation proceedings;
c)	as of the date on which bankruptcy declaration takes effect;
d)	as of the decisive date.

(8) An accounting entity shall be required to ensure that its financial statements show information reflecting the state existing as of the balance sheet date; the same shall apply mutatis mutandis to all accounting entries made as of that date, unless laid down otherwise by this Act. In so doing, the accounting entity shall also take into consideration information which relates to the state existing as of the balance sheet date and which the accounting entity has acquired by that date, while the accounting unit itself will determine the date of the financial statements preparation.

(9) Information shown in the financial statements shall be valued in terms of significance; it must be useful to the user as well as comprehensible, comparable and reliable. Information shall be considered significant if its absence or incorrect presentation in the financial statements could influence the judgement or decision-making of the user. Information in the financial statements shall be deemed comprehensible if it meets the conditions set out in article 8(5); however, information shall not be excluded for the sole reason that the user finds it incomprehensible. Information in the financial statements shall be deemed comparable if it meets the conditions set out in article 7(3) and (4). Information in the financial statements shall be deemed reliable if it meets the conditions set out in article 7(1), and if it is complete and timely. The completeness of information in the financial statements shall be ensured by taking into account its significance and the cost of its acquisition. Information in the financial statements shall be deemed timely if it meets the conditions set out in article 5.

(10) The gathering or requesting of information under a separate regulation shall not be regarded as preparation of financial statements.22) 

Article 17a
   
(1) Individual financial statements pursuant to separate regulations22a) shall be prepared by the following accounting entities:
a)	a bank, an asset management company, an insurance company except for a health insurance company,19) a reinsurance company, the Slovak Office of Insurers, a pension asset management company, supplementary pension company, the Stock Exchange and an accounting entity established under a separate regulation;22aaa)
b)	a branch of foreign bank, a branch of a foreign asset management company, a branch of an insurance company from another Member State, a branch of a foreign insurance company, a branch of a reinsurance company from another Member State and a branch of a foreign reinsurance company.

(2) Paragraph (1) shall also apply to an accounting entity that is not listed in paragraph (1) if such an accounting entity is a company that has met, in at least two successive accounting periods, no fewer than two of the following requirements:
a)	its total assets exceeded EUR 170 000 000; while total assets being defined as total assets ascertained from the balance sheet before adjustments by items specified in article 26(3),
b)	its net turnover exceeded EUR 170 000 000, 
c)	the average calculated number of employees exceeded 2,000 in a particular accounting period.

(3) An accounting entity, except for accounting entities referred to in paragraph 1 or paragraph 2, may decide to prepare individual financial statements pursuant to separate regulations22a) if it
a)	has issued securities in the accounting period and they have been admitted to trading on a regulated market;22aa) or
b)	is a payment institution,22ad) an  electronic money institution, a broker, a branch of a foreign broker that is not a bank at the same time, a branch of a foreign bank, an asset management company or a branch of a foreign asset management company; or
c)	is a successor accounting entity and the accounting entity being wound up, or the successor accounting entity, prepared individual financial statements pursuant to separate regulations22a) prior to the decisive date;7a) or
d)	is a newly established subsidiary accounting entity that meets, as at its first individual financial statements date, the conditions pursuant to paragraph 2 and, at the same time, its parent accounting entity that is governed by the laws of any of the European Union Member States prepared individual financial statements pursuant to separate regulations,22a)
e)	is a European company22ae) established in the Slovak Republic, European cooperative22af) established in the Slovak Republic, or is a European grouping of economic interests22ag) established in the Slovak Republic, if before relocating the registered office to the Slovak Republic they compiled an individual financial statement in accordance with separate regulations.22a)

(4) An accounting entity referred to in paragraphs (1) through (3) shall prepare also the individual financial statements22a) for the purposes of a special regulation22ab) in which securities and interests shall be recognised according to a special regulation.22ac)

(5) An accounting entity referred to in paragraphs (1) through (3) that has begun to prepare individual financial statements according to the special regulations22a) shall prepare such financial statements even if the conditions referred to in paragraphs (1) through (3) have ceased to exist. 

(6) This Act shall apply to the accounting entities referred to in paragraphs (1) through (2), unless the special regulations22a) stipulate it otherwise; it shall apply also to the accounting entities referred to in paragraph (3), if they take a decision to prepare the individual financial statement according to special regulations.22a)

(7) An accounting entity preparing financial statements according to paragraphs 1 through 6 must prepare an overview of data selected from financial statements. The scope, method, location and deadline for the filing of the overview of data selected from financial statements shall be stipulated by a Measure of the Ministry of Finance. The Ministry of Finance shall promulgate the Measure by announcing its publication in the Collection of Laws of the Slovak Republic.

Article 17b

(1) The accounting entity that is the National Bank of Slovakia shall keep the books according to the special regulations.22b)

(2) The accounting entity that is the National Bank of Slovakia shall prepare the individual financial statements according to the special regulations.22b)

(3) This Act shall apply to the accounting entity that is the National Bank of Slovakia unless a special regulation22b) or international accounting standards issued by the International Accounting Standard Board with its registered office in London stipulate it otherwise.

Article 18

(1) In addition to ordinary and extraordinary financial statements, an accounting entity shall also prepare interim financial statements in the course of an accounting period if so required by a special regulation.14) When preparing interim financial statements, the books of account shall not be closed and stocktaking shall only be carried out for purposes of valuation pursuant to article 26(3); the provisions of this Act regulating the financial statements shall apply similarly to interim financial statements. If a special regulation established a duty to prepare financial statements in the course of an accounting period for the purposes of this act, those financial statements shall be considered to be interim financial statements, while such financial statements have to be prepared in the extent of ordinary financial statements.

(2) An accounting entity shall prepare interim financial statements in a full version or in a short version. Interim financial statements in the short version shall correspond to items in the full version of the financial statements.

(3) A balance sheet accompanying ordinary or extraordinary financial statements shall show information on the assets and liabilities of the accounting entity and the difference between them, to a date to which the financial statements are prepared for and to the date to which the financial statements are prepared for the immediately preceding accounting period. The balance sheet of the interim financial statements, in the article of the current accounting period shall show the information according to the first sentence to a date, to which the interim financial statements are prepared, and in the article of immediately preceding accounting period it shall show the information according to the first sentence, to a date, to which the regular financial statements or extraordinary financial statements for the immediately preceding accounting period are prepared.

(4) The profit and loss statement of the annual or extraordinary financial statements shall show expenses, revenues and profit or loss for the accounting period and for the immediately preceding accounting period. The profit and loss statement included in the interim  financial statement must show information from the beginning of the accounting period until the date when the interim financial statement is prepared  for the applicable accounting period, as well as information concerning the immediately preceding accounting period. 

(5) The notes to the financial statements shall contain information explaining and supplementing the information contained in the balance sheet and the profit and loss statement and/or other explanatory and supplementary statements and information. The notes to the financial statements shall also contain information concerning the application of the accounting principles and accounting policies, as well as other information according to the requirements specified in this Act. In the notes to the financial statements, the accounting entity shall also provide information on events which have not been presented in other parts of the financial statements as of the balance sheet date, but whose effects materially influence the view of the accounting entity's financial position. 

(6) The accounting entities referred to in Article 2(8) and (14) shall provide in the notes also specification and quantification of the expenses incurred towards a statutory auditor or an audit firm22c) (hereinafter referred to as “the auditor”) for the accounting period in the division in expenses on
a)	audit of financial statements; 
b)	assurance audit services, except for audit of financial statements;
c)	tax consultancy;
d)	other non-audit services.

(7)	The interim financial statement provided by a separate regulation22ca) is delivered to a tax authority within the time limit for filing the tax return.

Article 19
Audit of financial statements

(1) Individual financial statements must be audited if the accounting entity:
a)	a company, which is required to create share capital, or a cooperative, if, as at the date of financial statements and for the immediately preceding accounting period, at least two of the following conditions have been met: 
1.	its total assets exceeded EUR 1,000,000; total assets are defined as total assets determined from the balance sheet before adjustments by items specified in article 26(3);
2.	its net turnover exceeded EUR 2,000,000;
3.	its average calculated number of employees exceeded 30 in a single accounting period;
b)	an enterprise and cooperative whose securities have been admitted to trading on a regulated market,
c)	is subject to this requirement under a separate regulation,24)
d)	should prepare its financial statements in accordance with article 17a.

(2) A general meeting or members’ meeting shall appoint and dismiss an auditor of the accounting entity according to article 1 letters (a), (b) and (d). In the accounting entities with an audit committee24aaa) established, or those, in which the supervisory board performs the offices of the audit committee, the board of directors submits a proposal for the appointment or dismissal of an auditor, on the basis of recommendation of the audit committee or supervisory board. If an accounting entity does not have a board of directors, a general meeting or members’ meeting, the approval and removal of auditors of the accounting entity shall establish a special rule.24aa) Dismissal of the auditor has to be duly justified, while the difference in standpoints in relation to the use of procedures at preparing of financial statements according to this Act or in relation to use of procedures of auditing24a) may not be a reason for a dismissal of the auditor. An accounting entity is required to inform without any delay, however not later than one month from the resignation or dismissal of an auditor, the Oversight Authority for Audit Performance in writing about the resignation or dismissal of an auditor during the course of execution of an audit and explain the reasons leading to the resignation or dismissal.

(3) The financial statements of the accounting entity under paragraph (1) shall be audited within one year from the end of the accounting period for which they are prepared, unless laid down otherwise by a separate regulation.25)

(4) The obligation to have the financial statements audited shall also apply to legal persons specified by a separate regulation,26) whose sum annual ratio of received tax exceeds EUR 35 000, for the accounting period, in which those financial means were used; such financial statements shall by audited by an auditor within one year from the end of the accounting period, unless otherwise stipulated by a separate regulation.26aa)

(5) The accounting entity does not have to have interim individual financial statements and interim consolidated financial statements audited by an auditor.

Article 20
Annual report

(1) An accounting entity required to have its financial statements audited under article 19, except for an accounting entity referred to in article 17a(1)(b) and a branch of a foreign broker shall be required to issue an annual report. The annual report shall contain, unless laid down otherwise by a separate regulation, the financial statements for the relevant accounting period, including the auditors´ report thereon and especially information on:
a)	the development of the accounting entity, its current position and material risks and uncertainties to which the accounting entity is exposed; such information shall be provided in the form of a balanced and comprehensive analysis of the situation and development forecast and shall contain important financial and non-financial indicators, including information on the impact of the accounting entity's activities on the environment and employment, with a reference to the respective information presented in the financial statements,
b)	the events of special importance that occurred after the end of the accounting period for which the annual report is prepared,
c)	the expected future development of the accounting entity's activities, 
d)	the costs associated with research and development activities,
e)	the acquisition of the accounting entity's treasury shares,27a) temporary certificates, ownership interests and shares, and temporary certificates and ownership interests of a parent accounting entity according to article 22,
f)	the proposal for the distribution of profits or settlement of losses,
g)	the information required by special regulations, and
h)	whether the accounting entity has a branch abroad.

(2) In addition to the information according to paragraph 1, the annual report also comprises a report in compliance with articles  20a and 20b. A separate regulation may stipulate that an annual report has a different content to that pursuant to paragraph (1).28)

(3) The annual report of the accounting unit according to paragraph 1 must provide a true and fair view and must be verified by an auditor within one year from the termination of the accounting period. The auditor must 
a)	provide its opinion regarding compliance of the annual report with the financial statements, with the exception of the annual report according to a special regulation;27)
b)	provide its opinion regarding the information provided in paragraph 6 letter (d) and paragraph 7 letters (c) to (e), (g) and (h);
c)	provide its opinion whether the annual report comprises information according to a special regulation;28ab);
d)	provide its opinion whether the annual report comprises information according to this Act;
e)	specify whether any significant misstatement was found in the annual report based on the findings obtained about the accounting unit and specify the character of each misstatement ascertained.
(4) Interim financial statements shall be accompanied by an interim report where required by a separate regulation.28a) 

(5) If it is material for the assessment of total on- and off-balance sheet assets, total equity and liabilities, and the financial position of an accounting entity that uses instruments according to a separate regulation,11) the accounting entity is also required to provide in its annual report information on the following:
a)	the objectives and methods of risk management in the accounting entity, including its policy for ensuring the main types of planned transactions in which hedging derivatives will be used, and
b)	price risks, credit risks, liquidity risks and risks related to cash flows, to which the accounting entity is exposed.

(6) The accounting entity, which has issued securities that have been admitted to trading on a regulated market, is obliged to provide, as a separate part of the annual report, a corporate governance statement that shall contain the following:
a)	a reference to the corporate governance code to which the accounting entity is subject, or to the one it has decided upon to observe at the managing and a reading about it, where the corporate governance code is available for public,
b)	all the important information about management methods and the reading, where information about the methods are published,
c)	information on deviations from the corporate governance code28c) and reasons for these deviations or information on the non-application of any corporate governance code and the reasons for such a decision,
d)	description of the main systems of internal controls and risk management in relation to the financial statements,
e)	information about the activities of a general meeting, its powers, a description of powers of shareholders and the procedure of their application,
f)	information on the structure and activities of the boards of the company and their committees,
g)	information according to paragraph (7).

(7) The accounting entity that has issued securities, which have been admitted to trading on a regulated market, shall be obliged to provide the following data in the annual report:
a)	the structure of the share capital including data on securities that have not been admitted to trading on a regulated market in any Member State or State of the European Economic Area, with the giving of types of shares, a description of rights and duties connected with them for each type of shares and their percentage on the total share capital, 
b)	the restriction of transferability of securities,
c)	the qualified participation in the share capital according to a special regulation,28aa)
d)	the owners of securities with special rights of control with a description of these rights,
e)	the limitations of the rights to vote,
f)	the agreements between owners of securities, which are known to the accounting entity and which may lead to the restrictions of transferability of securities and limitations of the rights to vote, 
g)	the rules governing the appointment and removal of members of its statutory body or a change of by-laws,
h)	the powers of its statutory body, especially about their power to decide about shares issue or about a repurchase of shares,
i)	all the significant agreements, where it is the contractual party and which shall come into force, change or the validity of which shall terminate as a result of a change of its control circumstances, which have occurred in relation to an offer for a takeover and about its effects with the exception of a case when publication should seriously harm it; this exception shall not apply if it is obliged to publish such data within the framework of a fulfilment of obligations established by special regulations, 
j)	all the agreements concluded by the accounting entity and members of its bodies or employees, on the basis of which compensation is to be provided to them, if their office or employment terminates by an abdication, by a notice from the part of an employee, by their removal, by a notice from the part of the employer without the giving of a reason or their office or employment terminates as a result of the offer for a takeover.
 
(8) The members of the board of directors of the accounting entity, which has issued the securities admitted to trading on a regulated market, shall submit the explanatory report about the content requirements of the annual report according to paragraphs (6) and (7) to the general meeting.

(9) A public-interest entity, with the exception of an accounting unit according to article  17b with the average calculated number of employees for the accounting period exceeding 500 employees, will also provide in its annual report non-financial information regarding the development, performance, position and effect of the accounting unit activity on the environmental, social and employment issues, information regarding the respecting of human rights and information concerning the fight against bribery and corruption (hereinafter referred to as the “social responsibility area”) whereas it will provide at least
a)	a brief description of the business model; 
b)	a description and the results of the policy applied by the accounting unit in the social responsibility area;
c)	a description of the main risks related to the accounting unit impact on the social responsibility area, which ensue from the accounting unit activity that could have adverse consequences, and when appropriate, also a description of the business relations, products or services provided by the accounting unit and a description of the way in which the accounting unit manages the above risks;
d)	significant non-financial information regarding the accounting unit activity according to the individual activities; 
e)	a reference to the sums shown in the financial statements and an explanation of such sums as regards their impact on the social responsibility area, if appropriate.

(10) As regards information provided according to paragraph 9, a public-interest entity can use the European Union framework or other  international framework governing non-financial information as a base if it accurately specifies which framework was used.

(11) A public-interest entity which is a subsidiary accounting unit is not obliged to provide the information according to paragraph 9, provided that the information about such a subject and its subsidiary accounting units is comprised in the annual report or in a similar report issued by the parent accounting unit.

(12) If a public-interest entity does not publish information according to paragraph 9, in its annual report it will provide the reasons due to which it did not publish such information.

(13) An accounting unit which issued  securities accepted for trading on a regulated market of any Member State will also provide a description of the diversity policy applied in its administrative bodies, governing bodies and supervisory bodies, mainly in relation to the age, sex, education and professional experience of the members of such organizations, the targets of such policy, the way of its application, and the results attained for the reporting period in its annual report, provided that on the date of the preparation of the financial statements it has fulfilled at least two of the following conditions:
a)	the total  sum of assets exceeded EUR 20,000,000 while the sum of assets for this purpose means the sum determined from the balance sheet in evaluation adjusted by the items specified in article  26 (3);
b)	the net turnover exceeded EUR 40,000,000;
c)	the average recounted number of employees exceeded 250.

(14) An accounting unit not providing a description of the diversity policy according to paragraph 13 in its annual report shall specify the reasons due to which it decided not to apply such a diversity policy in its annual report.

(15) By providing the information according to paragraph 9 the accounting unit has fulfilled its obligation to provide non-financial information regarding the impact of the accounting unit activity on the environment and employment according to paragraph 1 letter (a).

Article  20a
Annual report on payments to public authorities

(1) A large accounting unit which is a  company and a public-interest entity operating in the mining industry or in natural forest logging  prepares  and publishes an annual report on payments to public authorities (hereinafter referred to as the “report on payments”). The obligation to prepare and publish a report on payments does not apply to any company from a Member State, which is a parent accounting unit or a subsidiary accounting unit, if the parent accounting unit is subject to the law of any Member State and the provided payments are comprised in the consolidated report on payments to public authorities (hereinafter referred to as the “consolidated report on payments”).

(2) For the purpose of this Act:
a)	an accounting unit operating in the mining industry shall mean an accounting unit whose activities may include exploration , discovery  and preparation of areas for mining or mineral resource mining according to a special regulation;28d)
b)	an accounting unit operating in natural forest logging  shall mean an accounting unit performing its activities according to a special regulation;28e)
c)	public authority shall mean a government authority or regional authority, including organizations, state enterprises and  companies established and controlled by it, where a public authority executes rights in compliance with article  22 (3);
d)	a natural forest shall mean a forest stand made of original plant species without any visible signs of human activity where ecological processes have not been significantly disturbed;
e)	a project shall mean operating activities performed on the basis of a particular contract or permit from which payment liabilities are derived; provided that there are more interconnected contracts and permits, they are considered as a single project while an accounting unit cannot divide or merge its operating activities with the aim of avoiding elaboration of the report on payments and will evaluate the nature of each payment regardless of the form of such a payment;
f)	a payment shall mean a monetary or non-monetary payment provided to a public authority.

(3) Payments specified in the report on payments are grouped according to the states where the accounting unit operates mineral resource mining activities or natural forest logging  activities.

(4) Payments are classified according to their type as follows:
a)	payment for the right of mining;
b)	corporate income tax and similar tax;
c)	dividend;
d)	license fee, entry  fee and other consideration ensuing from the lease agreement;
e)	bonus  for signing of a contract for discovery and mining;
f)	payment for the infrastructure improvement.

(5) Single type payments performed in a single state with the total sum for the accounting period not exceeding EUR 100,000 need not be disclosed in the report on payments.

Article  20b
Content of report on payments

The report on payments will comprise:
a)	the total sum of payments provided to a single public authority classified according to the payment type;
b)	payments relating to a project provided that they can be assigned to the project, their total sum and the total sum according to the particular type of payment; payments which the accounting unit is bound to pay and which cannot be assigned to the project, need not be assigned to the project and can be recognised separately;
c)	payments performed by means of a non-monetary payment, including specification of their monetary value, while the content and extent of such a non-monetary payment must also be disclosed and described and it is necessary to explain how the monetary value expression of such a payment was determined;
d)	a statutory body declaration regarding the accounting unit signed by an authorized person that the report on payments provides a true representation of the payments.

Article 21
deleted

Article 22
Consolidated financial statements

(1) Consolidated financial statements shall be understood to mean financial statements which provide information on a consolidated group according to article 6(4). Consolidated financial statements shall be prepared in compliance with the methods and principles defined by special regulations.22a)
 
(2) Consolidated financial statements are prepared  by the parent accounting unit. The parent accounting unit obliged to prepare  the consolidated financial statements prepares  a consolidated annual report also comprising a consolidated report on payments in compliance with paragraphs 19 and 20. The consolidated financial statements must be verified by an auditor and the procedure according to article  20 (3) will reasonably apply to such an auditor.

(3) For the purpose of this Act a parent accounting unit is an accounting unit which is a  company, a state enterprise, a cooperative or a public administration accounting unit and has a  control in another accounting unit which is a  company, whereby the parent accounting unit has a  control , if
a)	it controls a majority of voting rights in the accounting entity, or
b)	it has the right to appoint and recall the majority of members of the accounting entity's statutory or supervisory body and, at the same time, is a member or shareholder of the respective accounting entity, or
c)	it has the right to exercise a control in another accounting unit of which it is a member or shareholder based on an agreement concluded with this accounting entity or based on a memorandum of association or articles of association of this accounting entity, if provided for by the law governing this accounting entity, or
d)	it is a member or shareholder of the accounting entity, and the majority of members of the accounting entity's statutory or supervisory body holding their office during the accounting period and the immediately preceding accounting period and up to the preparation of consolidated financial statements were appointed exclusively by the exercise of voting rights by the member or shareholder that is the parent accounting entity; this will not apply provided that there is another, third party disposing of the rights according to letters (a) to (c), or
e)	it is a member or shareholder and controls a majority of voting rights under an agreement with the other members or shareholders of the respective accounting entity.

(4) A subsidiary accounting unit is an accounting unit  which is controlled by the parent accounting unit  directly or indirectly, by means of its subsidiary accounting units.

(5) When calculating the voting rights according to paragraph 3(a), (b), (d) and (e), the following shall be added to the voting rights and rights to appoint and recall statutory or supervisory body members:
a)	rights controlled by another subsidiary accounting entity of the parent accounting entity,
b)	rights of a natural or legal person that acts on its own behalf but for the account of the parent accounting entity or its other subsidiary accounting entity.

(6) When calculating the voting rights according to paragraph 3(a), (b), (d) and (e), those voting rights shall be subtracted that relate to shares or ownership interests which:
a)	are held for the account of an accounting entity other than the parent accounting entity or its subsidiary accounting entity, or
b)	are held as collateral, if such voting rights are exercised in line with the instructions issued by the accounting entity that provided the collateral or that are held in relation to the provision of loans within the business activity provided that voting rights are exercised in favour of the party providing collateral .

(7) When calculating the voting rights according to paragraph 3(a), (d) and (e), those voting rights shall be subtracted from the total voting rights of members or shareholders of the subsidiary accounting entity that relate to the shares or ownership interests held by the subsidiary accounting entity, any of its subsidiary accounting entities or a person acting on its own behalf but for the account of those accounting entities.

(8) A parent accounting entity which is a subsidiary accounting entity and whose parent accounting entity is governed by the laws of any of the Member States is released from the obligation to prepare consolidated financial statements and consolidated annual report (hereinafter "the release"), provided that its parent accounting entity controls:
a)	all shares and ownership interests of the subsidiary accounting entity, or
b)	at least 90 per cent of shares or ownership interests of the subsidiary accounting entity, and other shareholders or partners of the accounting entity have agreed to such release.

(9) The release according to paragraph (8) may only be applied if:
a)	the subsidiary accounting entity and all its subsidiary accounting entities are incorporated into the parent accounting entity's consolidated financial statements prepared according to legislation of the European Union, 
b)	the consolidated financial statements of the parent accounting entity referred to in letter (a) and the compliance of the consolidated annual report of the parent accounting entity with the financial statements are reviewed by an auditor in accordance with legislation of the European Union, 
c)	consolidated financial statement of the parent accounting unit provided in letter (a), consolidated annual report of the parent accounting unit and auditor's report are published in compliance with legally binding laws of the European Union,
d)	in the notes to the individual financial statements, the subsidiary accounting entity states the name and the registered office of the parent accounting entity preparing the consolidated financial statements referred to in letter (a), and it refers to the fact that it has been released from the obligation.

(10) A parent accounting unit shall not be obliged to prepare  a consolidated financial statement provided that on the date when the consolidated financial statement is prepared  
a)	based on the individual financial statement of the parent accounting unit and on individual financial statements of all its subsidiary accounting units at least two of the following conditions are not fulfilled:
1.	the total sum of the parent accounting unit assets and of the assets of all subsidiary accounting units exceeds EUR 24,000,000; for this purpose the sum of assets shall mean the sum of assets determined  from the balance sheets in the evaluation adjusted by the items specified in article  26 (3); 
2.	the net turnover of the parent accounting unit and of all subsidiary accounting units exceeds EUR 48,000,000;
3.	the average recounted number of employees of the parent accounting unit and of all its subsidiary accounting units for the accounting period exceeded 250 employees; or 
b)	at least two of the following conditions are not fulfilled for the consolidated entity after the consolidation of capital, consolidation of mutual relations between the accounting units, consolidation of management results and consolidation of costs and revenues:
1.	the total sum of the parent accounting unit assets and of the assets of all subsidiary accounting units exceeds EUR 20,000,000; for this purpose the sum of assets shall mean the sum of assets determined  from the balance sheets in evaluation adjusted by the items specified in article  26 (3);
2.	the net turnover of the parent accounting unit and of all its subsidiary accounting units exceeds EUR 40,000,000;
3.	the average recounted number of employees of the parent accounting unit and of all its subsidiary accounting units for the accounting period exceeded 250 employees.

(11) Exemption according to paragraph 8 does not apply to a parent accounting unit which issued securities and these securities were accepted for trading on a regulated market of any Member State or of any state of the European Economic Area and exemption according to article 22 (10) shall not apply to the parent accounting unit if is a public-interest entity or if any of its subsidiary accounting units is a public-interest entity. A parent accounting unit will discontinue application of the exemption from the obligation to prepare  a consolidated financial statement from the following accounting period if it has fulfilled the conditions according to paragraph 10 for two consecutive accounting periods. Upon assessment of the conditions for exemption from the preparation of a consolidated financial statement according to paragraph 10, the parent accounting unit will proceed as follows:
a)	upon assessment of the conditions it will include only those subsidiary accounting units which do not fulfil the conditions according to paragraph 13;
b)	it can decide whether it will assess the conditions according to paragraph 10 letter (a) or paragraph 10 letter (b).

(12) The obligation to prepare consolidated financial statements and a consolidated annual report shall not apply to a parent accounting entity if the preparation solely of individual financial statements of the parent accounting entity has no substantial impact on the view of the financial situation, costs, revenues and profit/loss for the consolidated group; the provisions of paragraph 10 and 11 shall not apply in that case.

(13) A parent accounting unit has no obligation to prepare  a consolidated financial statement, provided that on the date when the consolidated financial statement would be prepared  it only has subsidiary accounting units fulfilling at least one of the following conditions:
a)	there are long-term barriers significantly preventing the parent accounting unit from exercising its rights related to the subsidiary accounting unit assets or the rights of controlling the subsidiary accounting unit;
b)	data needed for preparation of the consolidated financial statement can only be gained for unreasonably high costs or with unreasonable delay; or
c)	the parent accounting unit holds the ownership interests in a subsidiary accounting unit only for the purpose of its sale.

(14) The parent accounting entity shall be required to give the subsidiary accounting entities and other accounting entities incorporated into the consolidated financial statements timely notice of its obligation to prepare consolidated financial statements.

(15) The subsidiary accounting entities and other accounting entities incorporated into the consolidated financial statements shall be required to provide the parent accounting entity, in good time, with their individual financial statements and information required for the preparation of the consolidated financial statements.

(16) The provisions of article 20 shall apply mutatis mutandis to a consolidated annual report. If an accounting entity is required to prepare individual financial statements and consolidated financial statements, information from the individual annual report and the consolidated annual report may be incorporated into a single consolidated annual report.

(17) Paragraphs (1) to (16) shall accordingly apply to the preparation of extraordinary consolidated financial statements and interim consolidated financial statements.

(18) An accounting entity that prepares financial statements pursuant to paragraphs 1 through 17 shall be obliged to prepare an overview of selected data from financial statements. The scope, method, location and deadline for the filing of the overview of data selected from financial statements shall be stipulated by a Measure of the Ministry of Finance. The Ministry of Finance shall promulgate the Measure by announcing its publication in the Collection of Laws of the Slovak Republic.

(19) An accounting unit according to paragraph 20 with the obligation to prepare  the consolidated financial statement prepares  a consolidated  report on payments only including payments for the activities provided in article  20a (1). Articles  20a and 20b will reasonably apply to the consolidated report on payments.

(20) A parent accounting unit is considered as an accounting unit operating in the mining industry or as an accounting unit operating in natural forest logging provided that the parent accounting unit or its subsidiary accounting unit operates in the mining industry or in natural forest logging.

Article  22a
Consolidated financial statements of a public administration accounting unit, consolidated financial statement
of the central government and aggregated financial statement of the public administration

(1) A consolidated financial statement of a public administration accounting unit is prepared  by the administrator of the state budget chapter (hereinafter referred to as the “chapter”), a municipality or a higher territorial unit on the basis of  individual financial statements of
a)	established financed organizations;
b)	established co-financed organizations;
c)	subsidiary accounting units according to article  22 (4);
d)	legal persons with an equity participation held by the state established according to special regulations;29b) or
e)	state funds.29ba)

(2) A consolidated financial statement of the central government is prepared  by the Ministry for all chapters based on consolidated financial statements according to paragraph 1 prepared  by the administrators of chapters. Provided that the administrator of the chapter is not obliged to prepare  a consolidated financial statement according to paragraph 1, the individual financial statements of the administrator of the chapter will be used as a base for the preparation of the consolidated financial statement of the central government.

(3) The aggregated financial statement of the public administration is prepared  by the Ministry based on the consolidated financial statement of the central government according to paragraph 2, consolidated financial statements of the public administration accounting units according to paragraph 1 and financial statements of the public administration entities5) not preparing  a consolidated financial statement according to paragraph 1.

(4) A consolidated financial statement of a public administration accounting unit and a consolidated financial statement of the central government are certified by an auditor.

(5) Accounting units included in consolidated financial statements according to paragraphs 1 and 2 and accounting units included in the aggregated financial statement of the public administration according to paragraph 3 are obliged to provide their individual financial statement and other information needed for the preparation  of a consolidated financial statement of the central government and aggregated financial statement of the public administration within the deadline and in the structure determined by the accounting unit which prepares  the consolidated financial statement of the central government and aggregated financial statement of the public administration, with the exception of information and the individual financial statement comprising classified information according to a special regulation.29c)

Article 22b
Content of the annual report and the consolidated annual report of public administration entities

(1) An accounting unit which is a chapter administrator, a municipality or a higher territorial unit and which must have its financial statement verified by an auditor according to article 19 or  article 22a, is obliged to prepare an annual report the compliance of which with the financial statements prepared for the same accounting period must be verified by an auditor.

(2) Provided that an accounting unit preparing  consolidated financial statements according to article 22a (1) is also obliged to prepare  an individual annual report, it can provide the data from the individual annual report in the consolidated annual report and the individual annual report does not have to be prepared  as an independent document.

(3) The annual report and consolidated annual report will contain a financial statement for the accounting period for which the annual report is issued and the auditor's report to this financial statements and information mainly about 
a)	the chapter, municipality or higher territorial unit or about the consolidated entity organizations;
b)	geographic data, demographic data, history, monuments and symbols of the municipality or about symbols of the higher territorial unit;
c)	fulfilment of the tasks of a municipality or a higher territorial unit in the area of education and training, social insurance, health care, culture and the economy;
d)	fulfilment of the tasks of ministries and other central authorities of the state administration.

PART FOUR
REGISTER

Article 23

(1) The register constitutes an information system of the general government,29d) whereby the Ministry is its administrator. The register operator is the Ministry's budgetary organisation DataCentrum ("register operator").

(2) The following is deposited in the register:
a)	ordinary individual financial statements;
b)	extraordinary individual financial statements;
c)	ordinary consolidated financial statements;
d)	extraordinary consolidated financial statements;
e)	summary financial statements of public administration;
f)	reports on selected data from financial statements pursuant to article 17a and 22;
g)	auditor’s reports;
h)	individual annual reports;
i)	consolidated annual reports;
j)	annual financial reports under a separate regulation,29da)
k)	notification of the date of approval of the financial statements. 

(3) An accounting entity may deposit financial statement as per paragraph 2 in the register at its own initiative. Accounting entities that prepare annual financial reports under a separate regulation29da) shall deposit financial statements and annual report as part of an annual financial report within the deadline specified by a separate regulation.29da)

(4) The register operator shall 
a)	build, maintain and operate the register, 
b)	collect and process data from financial statements, 
c)	collect and process data from annual reports, 
d)	render and provide access to documents specified under paragraph 2 to general government bodies and other entities in line with this Act. 

(5) Documents specified by paragraph 2 shall be kept in accordance with Article 35. Documents specified by paragraph 2 must be drawn up and deposited in the state language, and may be deposited also in a foreign language if decided so by the accounting entity. 
 
(6) The register has a public part and a non-public part. The public part of the register shall contain documents specified by paragraph 2 limited to the following entities: 
a)	accounting entity that prepares financial statements pursuant to articles 17a and 22 except for an accounting entity referred to in article 17a paragraph 1 (b) and a branch of a foreign financial institution;29db) 
b)	business enterprise, 
c)	cooperative, 
d)	state-owned company, 
e)	general government entity, 
f)	other accounting entity, provided that a separate regulation29e) requires that documents referred to in paragraph 2 of such an entity should be available to public,
g)	Export-Import Bank of the Slovak Republic.

(7) The register operator shall maintain and update the list of accounting entities. 

Article 23a

(1) Documents specified by Article 23 paragraph 2 shall be kept in either electronic or hardcopy form. 

(2) Documents referred to in article 3 paragraph 2 (c) through (j) and documents that the accounting entity has decided to deposit in a foreign language must be deposited in an electronic form. The documents referred to in article 23 paragraph 2 (a), (b) and (k) in electronic form must be deposited by an accounting entity referred to in article 17a paragraph 1 and 3, the Investment Guarantee Fund, Export-Import Bank of the Slovak Republic, the Deposit Protection Fund, a health insurance company and persons referred to in a separate regulation.29f) Other accounting entities may deposit the document referred to in article 23 paragraph 2 (a), (b) and (k) in either electronic or hardcopy form. The obligation to deposit documents referred to in article 23 paragraph 2 does not apply to the Slovak Information Service, an accounting entity not incorporated or established for commercial, purposes except for a public administration entity, if it is not required to submit a tax return pursuant to a separate regulation,29g) or is not required to have its financial statements audited pursuant to a separate regulation,29h) or is not required to deposit the documents under a separate regulation.29ha) 
 
(3) An accounting entity shall deposit its ordinary individual financial statements and extraordinary individual financial statements in the register no later than within six months of the date of its financial statements unless stipulated otherwise by separate regulations.29i) An accounting entity obliged to prepare ordinary consolidated financial statements or extraordinary consolidated financial statements according to Articles 22 or Article 22a shall be obliged to deposit the ordinary consolidated financial statements and extraordinary consolidated financial statements along with the Auditor's Report in the register within one year of the end of the accounting period. Documents as per Art. 23(2) shall be archived with the register on behalf of the accounting entity being dissolved by the successor accounting entity; before the effective date of merger, consolidation or separation, the documents may be archived by the accounting entity being dissolved.
 
(4) Should an accounting entity fail to have its financial statements approved within the period stipulated under paragraph 3, its unapproved financial statements shall be deposited and a notification of the date of financial statements approval will be deposited in the register later, in any case no later than within 15 working days of their approval. The template for notification of the date of approval of the financial statements is laid down by the Ministry in a separate measure. The Ministry shall promulgate the measure by announcing its publication in the Collection of Laws of the Slovak Republic.

(5) An accounting entity obliged to have its financial statements audited pursuant to Articles 19, 22 and 22a, shall also deposit the Auditor's Report in the register. Should an accounting entity fail to have its financial statements audited within the period stipulated under paragraph 3, its unaudited financial statements shall be deposited and the Auditor's Report shall be deposited at later stage, in any case no later than within one year of the end of the accounting period covered by the financial statements. 

(6) Should an accounting entity open its books of account according to Article 16 paragraph 10 after having deposited its financial statements, it shall deposit the new approved financial statements without undue delay, no later than within 15 working days of their approval. If the accounting entity changes the content of the financial statements already deposited in the register, it shall deposit new financial statements to the register without undue delay.

(7) An accounting unit must deposit  the approved financial statement or notification about the date of approval of such a financial statement in the register at the latest within one year from the end of the accounting period for which the financial statement is prepared.

(8) An accounting entity required to prepare an individual annual report shall deposit an ordinary individual annual report and extraordinary individual annual report in the register not later than within one year from the end of the accounting period for which that individual annual report is prepared, unless otherwise provided by a separate regulation.29ha) An accounting entity required to prepare a consolidated annual report shall deposit an ordinary consolidated annual report and extraordinary consolidated annual report in the register not later than within one year from the end of the accounting period for which those consolidated annual reports are prepared. The deposited annual reports do not have to contain financial statement and auditor’s report provided that those documents have already been deposited in the register separately.

(9) An accounting entity shall bear responsibility for the correctness of deposited documents specified by Article 23 paragraph 2. An accounting entity obliged to have its financial statements audited pursuant to Articles 19 or 22 must not disclose any unaudited information in a manner that may mislead the information user into thinking that it has been audited. 

(10) If the document served by the accounting entity contains personal information, the register operator shall process such information in accordance with article 23b paragraph 4.

Article 23b

(1) Unless otherwise provided in paragraph 2, the financial statements and notification of the date of approval of the financial statements completed in paper form shall be delivered to the tax office. The tax office shall convert the financial statements and the notification of the date of approval of the financial statements received in paper form into electronic form and verify if there have been properly completed all of the general requisites stipulated in article 17(2)(a) and (b), general requisites pursuant to article 17(2)(c) through (g) and if the financial statements contain all of the components pursuant to article 17(3) or (4). If the accounting unit failed to archive the documents as per Art. 23(2) in the correct form as per Art. 23a(2), the motion delivered  was filed in the incorrect form, fails to contain the prerequisites or components as per the second sentence or paragraph 3, and the accounting entity failed to remove the errors within time periods as per Art. 23a (3) and (4), the tax authority shall call on the accounting entity to resolve these deficiencies in a defined period and instruct the accounting entity as to the consequences associated with such failure. The tax office shall forward the documents converted into electronic format using electronic means to the register operator through the Financial Directorate of the Slovak Republic without any undue delay and within 40 calendar days from their receipt or the remedy of deficiencies.

(2) Documents specified by Article 23 paragraph 2 of general government accounting entities shall be filed with the register operator by using the State Treasury system.29j) 

(3) Documents pursuant to Article 23 paragraph 2 in electronic form shall be filed by using the electronic registry, the operation of which is specified by separate regulations.29k) The filing of documents is governed by separate regulations.29k) The Financial Directorate of the Slovak Republic shall verify that the received financial statements and the notification of the date of approval of the financial statements have been properly completed with all the general  requisites stipulated in article 17(2)(a) and (b), the general requisites stipulated in article 17(2)(c) through (f) and if the financial statements contain all of the components pursuant to article 17(3) or (4) and if the documents pursuant to article 23(2)(f) through (j) have been properly completed with all the general requisites pursuant to article 17(2)(a) and (b) and then forward them without any undue delay to the register operator. If the accounting entity failed to archive documents as per Art. 23(2), archived the same in the incorrect form as per Art. 23a(2), the motion delivered was filed in the incorrect form, fails to contain the prerequisites or components as per the third sentence, the tax authority shall proceed in accordance with paragraph 1.

(4) The register operator shall register, publish and provide access to any served document referred to in article 23(2) as deposited by the accounting entity not later than within five business days from its delivery to the register, either in the public or non-public part of the register. Any published documents referred to in article 23 paragraph 2 that are deposited and form content of the collection of deeds of the Companies Register29ka) are continuously sent by the register operator, within 30 calendar days of their publication, through the Ministry of Justice of the Slovak Republic, to the collection of deeds of the Companies Register. These documents, including the information on the date of their deposition, are sent in an electronic form. At the same time, the register operator shall send an annual financial report deposited pursuant to article 23 paragraph 2 (j), including the information on the date of its deposition, to the operator of the central register of registered information.29kb) The register operator shall also apply the same procedure with respect to an additional delivery of notification referred to in 23a paragraph 4 and additional delivery of an auditor’s report referred to in article 23a paragraph 5.

(5) The delivery of documents referred to in Article 23(2) to the tax authority or to an electronic registry pursuant to paragraph 3 or through the state treasury system is considered the fulfilment by the accounting entity of its obligation to deposit and publish documents. If the accounting entity removes the deficiencies as per paragraph 1 or paragraph 3 in the requested scope in the period provided by the tax authority in the call to remove deficiencies, such motion shall be considered to be filed free of deficiencies on the day of original delivery of the motion. If the accounting entity fails to comply with the call of the tax authority to remove deficiencies in full extent and in the period specified, the documents as per Art. 23(2) shall be deemed undelivered.

(6) If doubts arise as to the accuracy, credibility or completeness of documents once they are lodged in the register, the register operator shall notify the tax office of such doubts and the tax office shall call on the accounting unit to resolve these deficiencies in a defined term and instruct the accounting unit as to the consequences associated with such remedy.

(7) The details of electronic communication and of the provision of electronic services shall be published by the register operator on its website. 

Article 23c

(1) On its website, the register operator shall provide in an electronic form as deposited by the accounting entity to the documents specified by Article 23 paragraph 2 of accounting entities under article 23 paragraph 6 that are in the public part of the register, to all persons free of charge. 

(2) The documents of the accounting entities referred to in article 23 paragraph 2 that are deposited in the non-public part of the register pursuant to article 23 paragraph 6 shall be made available to the National Bank of Slovakia and a general government entity for the purposes related to their operations, and to the accounting entity to which they pertain; the National Bank of Slovakia and the general government entity have access to the documents through the register, the accounting entity to which they pertain has access to the documents based on a written request sent to the register operator. In justified cases, access to the documents may also be provided to the National Bank of Slovakia and to a general government entities based on a written request, namely where technical conditions prevent access to the documents through the register. The register operator shall provide access to these documents to other persons if so provided by a separate regulation.29l) The provision of information pursuant to a separate regulation29m) does not apply to the facts contained in the documents referred to in article 23 paragraph 2 deposited in the non-public part of the register.

(3) The request referred to in paragraph 2 contains
a)	applicant’s identification data, including the name of the accounting entity, registered office of a legal person or place of business of a natural person, and entity identification number;
b)	a list of documents or parts thereof the applicants seeks access to;
c)	a proof of authorisation to access the requested documents or parts thereof.

(4) The documents referred to in paragraph 2 may be provided in an electronic or hardcopy form; the documents in an electronic form are provided free of charge. A request delivered in an electronic form must be signed by a qualified electronic signature, otherwise it can be rejected. The procedure pursuant to paragraph 2 is governed by a general regulation on administrative proceedings.29n)

(5) Upon request and payment of an administrative fee, the register operator shall provide to the requesting party a copy of the filed document or part thereof specified by Article 23 paragraph 2 or a notice confirming that a specific document or part thereof has not been filed with the register. The request for a copy of a filed document or part thereof or for a notice confirming that a specific document or part thereof has not been filed with the register may be submitted by electronic means as well. In the case that the electronic format of a filed document or part thereof or the electronic format of a notice confirming that a specific document or part thereof has not been filed with the register is requested, the register operator shall provide it by electronic means29d) signed by a guaranteed electronic signature. A copy of a document or part thereof or a notice confirming that a specific document or part thereof has not been filed with the register shall be issued by the register operator within five working days of the payment date of the administrative fee. The accounting unit may request a copy of a document or part thereof involving itself or confirmation that a specific  document is not filed with  the register in person at a district office acting as a single contact point pursuant to a separate regulation.29o) A copy of this document or part thereof shall be provided to the accounting unit by the tax office until the document is deposited in the register.

Article 23d

(1) Individual financial statements are published through deposition in the register. Consolidated financial statements required to be prepared under this Act are published through deposition in the register. Individual financial statements and consolidated financial statements are deposited in the register as specified in article 23 through 23c.

(2) The accounting entity required to have its financial statements audited by an auditor pursuant to paragraph 19, 22 and 22a shall publish an auditor’s report through deposition in the register, unless otherwise stipulated by a separate regulation.29h) The auditor’s report is deposited in the register as specified in article 23 through 23c.

(3) The individual annual report and consolidated annual report are published through deposition in the register. The individual annual report and consolidated annual report are deposited in the register in a manner and within deadlines specified in article 23 through 23c.

(4) An accounting entity operating in compliance with article 22 paragraph 8 shall deposit consolidated financial statements prepared pursuant to article 22 paragraph 9 (a), along with an auditor’s report and a consolidated annual report, in the collection of deeds of the Companies Register within one year of the end of its accounting period; the consolidated financial statements may be deposited as part of the consolidated annual report.

(5) An accounting entity referred to in article 17a, except of an accounting entity referred to in article 17a paragraph 1 (b), shall publish the information on the deposition of individual financial statements in the register at its website at least for one year; the complete individual statements shall be published on the entity’s website at least for one year in the same scope and the same time limit as it is deposited in the register.
 
(6) An accounting entity whose activities are classified in the category of industrial production according to a separate regulation29a) and whose net turnover for the immediately preceding accounting period exceeded EUR 250 000 000, shall submit to the Ministry an annual report and minutes of the general meetings held in the accounting period for which the annual report is submitted and shall do so not later than five days after the discussion on the annual report, and not later than the end of the eighth month after the end of the accounting period for which the annual report is submitted; such an accounting entity must without undue delay also submit to the Ministry other related information if the Ministry so requests. The Ministry shall submit to the European Commission the accounting entity's annual report, and the minutes of its general meetings held in the accounting period for which the annual report is submitted, by the end of the ninth month after the end of the accounting period for which the annual report is submitted.

(7) The provision of paragraph (6) shall apply to an accounting entity in which a public authority has a majority of voting rights because it holds an interest in that accounting entity or shares of that accounting entity carrying a majority of voting rights, even if held indirectly through other entities in which the authority holds a majority of voting rights.

PART FIVE
Valuation methods

Article 24

(1) An accounting entity shall value assets and liabilities as of the valuation date, namely:
a)	the accounting transaction date, by methodologies specified in article 25,
b)	as of the balance sheet date, by methodologies specified in article 27,
c)	as of another date in the accounting period by methodologies specified in article 27, if so required by a separate regulation.33)

(2) Where this Act provides otherwise, the accounting entity shall convert the assets and liabilities denominated in foreign currency to euros by reference exchange rate determined and declared by the European Central Bank or the National Bank of Slovakia33a) (hereinafter “reference rate“)
a)	the day preceding the accounting transaction date or in the other day, if so required by a separate regulation,34) 
b)	the balance sheet date (the date on which the compiled financial statements),
c)	on the day identical with the decisive date as of which the assets and liabilities are assumed from a foreign person that is being wound up.

(3) Apart from valuation specified under paragraph 4, the valuation of an increase in foreign currency purchased in EUR shall be based on the exchange rate at which the foreign currency was purchased, or on the reference rate as at transaction date. Apart from valuation specified under paragraph 4, the valuation of an increase in EUR in foreign currency purchased in another foreign currency shall be based on the value of the other foreign currency in EUR, or the valuation of a foreign currency increase in EUR shall be based on the reference rate as at the transaction date. 

(4) The valuation of foreign currency, acquired as part of the construction of a currency derivative, as at the valuation date shall be based on the rate of a bank or branch of a foreign bank, which is a party to the currency derivative in question, or the valuation as at the valuation date shall be based on the reference rate as at the valuation date. If neither a bank nor a branch of a foreign bank is a party to the currency derivative, the valuation of foreign currency shall be based on the reference rate as at the valuation date.

(5) An accounting entity shall apply (Article 24(1)) the reference rate as at valuation date to convert
a)	securities denominated in foreign currency, 
b)	money market instruments denominated in foreign currency,11) 
c)	contracts for difference (CFD) denominated in foreign currency,11) 
d)	underlying instruments of derivatives denominated in foreign currency apart from the underlying instruments of currency derivatives, 
e)	receivables and payables linked to assets pursuant to subparagraphs a) through d) hereinabove denominated in the same foreign currency as the assets. 

(6) The valuation of a decrease in the same foreign currency held in cash or in a foreign currency account may use for the conversion of foreign currency to EUR a price based on the weighted average principle or a method using the initial price for the valuation of an increase in the asset represented by foreign currency as the first price for the valuation of the disposal of this asset in EUR. If this foreign currency decrease is associated with the settlement of a payable, the valuation according to the first sentence shall be applied to the conversion of the foreign currency settlement of the payable amount into EUR. The rate applied for the valuation of receivables and payables in foreign currency associated with the accounting entries reflecting a paid or received advance in foreign currency shall be the rate as at the time of advance receipt or payment. 

(7) An accounting entity shall apply the selected accounting method of foreign currency translation to all accounting entries within a given transaction and to all transactions under paragraphs 1 through 6, and to their valuation during the accounting period and in the financial statements.

(8)The provisions of this Act concerning the valuation of assets and liabilities shall apply mutatis mutandis to the valuation of off-balance sheet assets and off-balance sheet liabilities.

(9) Paragraph (2) shall not apply to advance payments received and advance payments made to a balance sheet date.

Article 25

(1) Individual assets and liabilities shall be valued unless this Act stipulates otherwise:
a)	at acquisition cost where they are
1.	tangible assets other than those created by own activities,
2.	inventory other than that created by own activities,
3.	interests in the registered capital of business enterprises, derivatives and securities except for securities, interests in the share capital of enterprise that are not in the form of securities and derivatives specified under the third indent of subparagraph (e),
4.	receivables acquired against payment, or receivables acquired by contribution35) to share capital,
5.	intangible assets other than those created by own activities,
6.	assumed liabilities,
b)	at conversion cost where they are
1.	tangible assets created by own activities,
2.	inventory created by own activities,
3.	intangible assets created by own activities,
4.	livestock breeding and increments,

c)	at nominal value where they are
1.	cash, stamps and vouchers,
2.	receivables at inception,
3.	payables at inception,

d)	at the fair value according to article  27 paragraph (2) 
1.	assets acquired for free, with the exception of cash, stamps and vouchers  and receivables evaluated in nominal values;
2.	assets transferred from personal ownership to enterprising, with the exception of cash, stamps and vouchers  and receivables evaluated in nominal values;
3.	intangible assets and tangible assets newly ascertained in the course of stock-taking and not recognised in the accounting so far;
4.	assets acquired by a contracting authority for free from a concessionaire for the performance in the form of a concession for construction works according to a special regulation;35aa)

e)	at the fair value according to article 27 paragraph (2)
1.	assets acquired and liabilities assumed through the purchase of an enterprise or a part thereof, 
2.	assets acquired and liabilities assumed as a result of the contribution of an enterprise or a part thereof and assets acquired and liabilities assumed through exchange, with the exception of the accounting entities that keep their books in the single-entry accounting system,
3.	securities, derivatives and interests in the share capital, namely
3a.	securities held for trading;
3b.	securities being in the possession of a fund,35a) unless otherwise provided by a separate regulation;35ab)
3c.	securities held for sale of a broker, in a payment institution and electronic money institution that do not operate pursuant to, article 17a paragraph (3), and in branch of a foreign financial institution29db) except for a branch of a foreign asset management company;  
3d.	derivatives being held in the possession of a fund;35a) 
3e.	derivatives of a broker, in a payment institution and electronic money institution that do not operate pursuant to article 17a paragraph (3), and in branch of a foreign financial institution,29db) except for a branch of a foreign asset management company, 
3f.	interests in the share capital of enterprises that are not in the form of securities and are in the possession of a fund;35a)
4.	commodities traded on a public market, not produced by the accounting entity itself and acquired for the purpose of their further sale on public market (hereinafter referred to as “commodities“),
5.	precious metals being in the possession of a fund.9)

f)	at the fair value determined according to article 27 paragraph 2, the assets acquired and liabilities assumed by the successor accounting entity from an enterprise or a cooperative wound up without liquidation,

g)	at the fair value determined according to article 27 paragraph 1 (j), the intangible assets on the books of a concessionaire in the case of a concession for construction works according to a separate regulation;35aa) such intangible assets shall be booked by the concessionaire provided that the concessionaire bears most of the risk of demand and the contracting authority acquires ownership at the beginning of the works construction or upon putting the works to use.

(2) The successor accounting entity shall value, at their real value under this Act, the assets acquired and liabilities acquired from a foreign enterprise or cooperative which is being wound up, if the wound-up enterprise or cooperative does not have its assets and liabilities thus valued.

(3) The accounts receivable and payable of the fund35a) acquired as investment instruments, except for bank deposits, and accounts payable of a fund35a) acquired to finance the fund shall be valued at their present value.

(4) The present value of future cash inflows shall be calculated as a sum of products of future monetary incomes and the relevant discount factors. The present value of future cash outflows shall be calculated as a sum of products of future monetary expenses and the relevant discount factors.

(5) Provided that the requirement of true and fair presentation of facts pursuant to article 7 paragraph 1 has been met, and that the assets consist of identical types of inventory and identical types of securities in the portfolio of the accounting entity, a disposal valuation based on the weighted average principle or on the method applying the initial price used for the valuation of an increase in the respective type of asset as the first price for the valuation of the disposal of this asset, may be deemed a valuation method in compliance with Paragraph 1. Identical types of securities may be valued by applying the above valuation method only if they have been issued by the same issuer and in the same currency.

(6) For the purposes of this Act,
a)	the acquisition price means  the price for which the assets were acquired, including the costs related with the acquisition and all reductions of such an acquisition price,
b)	conversion cost means,
1.	for inventories created by own activities: the direct costs of production or other activities, as well as indirect costs proportionally related to such production or other activities,
2.	for tangible assets other than inventories and for intangible assets other than receivables: the direct costs of production or other activities, and the indirect costs related to such production or other activities,
c)	nominal value means the value stated on cash, stamps and vouchers, or the sum shown for a receivable or payable.

(7) A micro accounting entity, an accounting entity not incorporated or established for commercial purposes, and an accounting entity that keeps accounts in the single-entry bookkeeping system, is not required to value assets and liabilities referred to paragraph 1(e)(3).

(8) On the date of evaluation according to article  24 (1) letter (a) to (c) an accounting unit can, in addition to the securities provided in paragraph 1 letter (e), point three, evaluate securities and shares intended for sale with their fair value according to article  27 (2).

(9) Valuation of assets and liabilities in terms of the acquisition price, by own costs or the fair value by the European company, European cooperative, and European economic interest grouping before relocation to the registered office to the Slovak Republic shall be considered to be valuation in terms of the acquisition price, by own costs or the fair value also after relocation of the registered office to the Slovak Republic.

Article 26

(1) If the future economic benefits are lower than their accounting valuation to a balance sheet date, they shall be valued at net realisable value. Net realisable value means the assumed sales price of the inventory reduced by the assumed sales costs for their completion and costs related to their sale.

(2) If to the balance sheet date the amount of liabilities is higher than their book value, the upward adjusted liabilities shall be reported in the financial statements and the discount factor applied to the long-term liabilities of the Fund35a) shall be reassessed.

(3) The accounting entity shall be obliged to adjust valuation of the assets value, to create provisions and to deduct the assets in accordance with the accounting principles and accounting methods to the balance sheet date.

(4) The valuation of assets shall be adjusted by adjusting entries if there is a justified assumption of a reduction of assets value under their book value. Adjusting entries shall be cancelled or their value shall be changed if a change of an assumption of value reduction occurs.

(5) Provisions shall mean liabilities with uncertain time specification or amount.
 
(6) For the purposes of this Act, assets damage shall be understood as permanent deterioration destruction, theft or loss of an asset. The theft or loss of asset detected by stocktaking means a shortage.

(7) Paragraphs 1 to 4 shall not be applicable to accounting entities keeping accounts in the single-entry bookkeeping system, except for depreciation of assets and the creation of provisions being the recognized tax expense according to a special regulation.35b) An accounting entity not incorporated or established for commercial purposes is not required to apply the provision of paragraph 1 through 4, except for depreciation of assets in which case it may apply a depreciation method pursuant to a separate regulation.35c)

Article  27

(1) On the date of evaluation according to article  24 (1) letter (b) or letter (c) the particular asset or liability items or the set of homogeneous asset or liability items are evaluated as follows:
a)	securities and shares in equity with their fair value, with the exception of held-to-maturity securities, securities issued by the accounting unit and shares in equity in  companies for which the accounting unit is a parent accounting unit or in which the accounting unit has an participating  interest, except for an equity participation in a real estate company according to a special regulation37a) and shares in equity of  companies, which do not have the form of securities and have been acquired in a special shares fund for alternative investments according to a special regulation;37b)
b)	derivative instruments with their fair value;
c)	in  companies or in cooperatives wound up without liquidation38) with their fair value;
d)	with their fair value provided that they are secured with derivative instruments to secure their fair value,
e)	fixed assets in a special fixed assets shares fund and fixed assets serving for maintaining technical reserves of the accounting units which are insurance companies according to a special regulation19) with their fair value;
f)	commodities with the market price;
g)	precious metals in the ownership of a fund9) with the market price;
h)	share certificate in the fund asset 35a) with their share in the value of net assets in the relevant fund;
i)	liabilities which are a part of a portfolio of financial instruments for trading with their fair value;
j)	with the value of a work completed by a concessionaire for a contracting authority, for which the concessionaire acquires intangible assets as defined in article  25 (1) letter (g).

(2) The fair value of the particular asset or liability items or of the set of homogeneous assets or liability items for the purpose of this Act means 
a)	the market price;
b)	the value ascertained by means of an evaluation model mainly using information from operations or from the quotations at an active market provided that the price according to letter (a) is unknown;
c)	the value ascertained by means of an evaluation model mainly using information from operations or from the quotations other than the active market provided that information which could be used in the evaluation model according to letter (b) is not available on the active market; or
d)	an expert's opinion provided that it is impossible to ascertain the fair value of the evaluated asset item according to letters (a) to (c) or if an evaluation model is not available for the evaluated asset item, which could be used to estimate with sufficient reliability the price of the asset for which it could be sold in the given period or the using of such a model would require the accounting unit to make unreasonable efforts or spend unreasonable costs compared to the benefits of its use for quality reflection of the financial position of such an accounting unit in the financial statements.

(3) The market price is
a)	the final price issued at the stock exchange on the date of evaluation according to article  24 (1) provided that the market for the appropriate assets organized by the stock exchange is an active market or
b)	the most abundant bid price or if such a price is not representative, the bid price median at another active market on the date of evaluation according to article  24 (1) provided that the evaluation according to letter (a) cannot be used; if the costs of transport of the purchased asset from the place of its storing for trading purposes on an active market to the place of its use at the purchaser are not negligible, they will be added to the market price.

(4) If the particular market does not publish closing prices or other prices realised on such a market, the price quoted on such a market or other forms of bid prices will be used provided that they do not have a quotation form, provided that such a market fulfils the conditions of an active market according to paragraph 5 letter (a) and (b).

(5) An active market is a market where 
a)	assets are traded according to the type of such assets with similar characteristics and under similar terms; 
b)	persons are usually willing to buy or sell;
c)	information on prices is available for the public.

(6) If an asset is not traded on the domestic stock exchange, but it is traded on foreign regulated public markets, the market price according to paragraph 3 letter (a) shall mean the closing price declared on the decisive regulated market. If the asset which is subject to evaluation was not traded on the decisive regulated asset market on the date of evaluation, the market price according to paragraph 3 letter (a) shall mean the highest of the closing prices declared at the foreign regulated public markets to which the accounting unit had access to trading.

(7) Evaluation models are based on the 
a)	market approach using information ensuing from the market operations, such as
1.	the price for similar assets obtained on an active market while such a price is adjusted by the effect of the asset characteristics to the extent in which such characteristics differ from the characteristics of the evaluated asset;
2.	the price for assets on the price development of which the evaluated asset shows statistical dependence;
3.	in case of a debt asset the interest rate, yield curve, risk margin or other evaluation components of a similar debt instrument with a similar maturity and similar debtor;
b)	expenditure approach ensuing from the sum in the monetary amount which would have to be spent to purchase an asset having comparable benefits for the accounting unit as the evaluated asset; while such an approach is mainly used for the evaluation of non-financial assets; information from operations or the price bids on the market is taken into account as regards its type and place where such an asset could probably be acquired, including the retail market;
c)	revenue approach, for example the present value model based on the present value of future cash flows from the asset and future expenditures on the asset while the discount rate is determined as the inner rate of return required by the investors for the given type of asset carrying the given level of risk on the date of its evaluation.

(8) Shares and ownership interests in a subsidiary accounting unit or in an accounting unit with a participating interest can be evaluated with the equity method. When using the equity method, the shares and shares value is compared to the value corresponding with the level of contribution in equity in the subsidiary accounting unit and in the unit with a participating  interest and the value of shares and shares is adjusted to the value corresponding with the level of interest in equity in the subsidiary accounting unit and in the unit with a participating  interest. Provided that an accounting unit uses this evaluation method, it is obliged to use the same for the evaluation of all such shares and shares provided that it is able to determine evaluation with the equity method. The accounting unit where another accounting unit has a participating  interest must provide information regarding the current structure of its equity within the period enabling the accounting unit to evaluate the shares and shares with the equity method.

(9) As regards debt securities and other receivables bearing interest, their evaluation from the date of their purchase settlement until the date of their maturity or their transfer to another person must be increased by the accrued agreed interest and decreased by the principal repayment and interest settlement. As regards debt securities issued by an accounting unit and other receivables bearing interest their evaluation from the date of their first recognition until the maturity date or their assignation to another person must be increased by the accrued agreed interest and decreased by the principal repayment and interest settlement.

(10) An accounting unit which does not evaluate securities and shares according to article  25 (8) with their fair value on the date of evaluation according to article  24 (1) letter (a), will not evaluate such securities and shares with their fair value on the date of evaluation according to article  24 (1) letter (b) and (c) either.

(11) A micro-accounting unit, an accounting unit which has not been established or founded for the purpose of enterprising and an accounting unit using the single entry accounting which on the date when the financial statement is prepared  does not evaluate assets and liabilities with their fair value, with the exception of the assets and liabilities according to paragraph 1 letter (c) and does not evaluate assets with use of the equity value according to paragraph 8.

(12) Evaluation with fair value must not be performed on the date of evaluation provided that the fair value cannot be reliably determined.
Article 28

(1) An accounting entity shall depreciate both non-inventory tangible assets and intangible assets other than receivables in accordance with accounting principles and accounting policies, unless laid down otherwise by this Act or by a separate regulation. Regarding a loan agreement41) during the period where the payable is secured by a transfer of title42) or regarding the acquisition of title to movable assets other than by takeover of the assets,43) as well as other cases laid down by separate regulations, the assets shall be recorded and depreciated by the accounting entity which uses them.
 
(2) Land, objects made of precious metals and other assets specified in a special regulation44) shall not be depreciated. 

(3) The accounting entity referred to in paragraph 1 shall be obliged to prepare a depreciation schedule and to depreciate assets on the basis thereof. The assets shall only be depreciated to the level of their book values. An accounting entity referred to in article 9 paragraph 2 that keeps accounts in the single-entry bookkeeping system and an accounting entity not incorporated or established for commercial purposes may determine, in a depreciation plan, depreciation under a separate regulation,35c) if determined differently to this act in that separate regulation.

(4) Tangible assets, except for inventory, and intangible assets, except for receivables, shall be depreciated by the accounting entity over their expected period of use corresponding to the consumption of future economic benefits. If the life of goodwill and activated costs of development cannot be reliably estimated, the accounting unit must amortise them at the latest within five years from the date of their acquisition. If the activated costs of development have not been amortised in full, the accounting unit can divide the profit provided that the aggregate amount of reserve funds and other equity components available for payout is higher than the total amount of the not amortised activated costs of development. Internally generated intangible assets shall not be capitalised, except for software and costs of development which are capitalised according to accounting procedures.

(5) Subsequent to repayment of contributions to the capital fund from contributions, the company is accounted for in the trading company and, for the shareholder or shareholder, the creation of a capital fund from contributions according to a special regulation.44a) In the accounts of a shareholder or shareholder, contributions to the capital fund from contributions are charged as part of the valuation of the security or share on the capital. 

PART SIX
Stocktaking 

Article 29

(1) An accounting entity shall carry out stocktaking in order to verify whether the book state of assets and liabilities and the difference between assets and liabilities correspond to the actual situation.

(2) An accounting entity shall perform stocktaking as of the balance sheet date for ordinary or extraordinary financial statements. If interim financial statements need to be prepared, the accounting entity shall perform stocktaking only for valuation purposes as laid down in article 26 paragraph 3. This is without prejudice to provisions regarding the performance of stocktaking under special regulations.45)

(3) Regarding tangible assets other than inventory and cash, an accounting entity may take stock within a period of time other than that set out in paragraph 2, though not exceeding four years. The accounting entity shall take stock of cash as at the financial statements date.

Article 30

(1) Stocktaking shall be performed in order to establish the actual state of assets and liabilities and the difference between assets and liabilities. The actual state of tangible and intangible assets shall be established by physical stocktaking; for liabilities, the difference between assets and liabilities, and those assets whose physical stocktaking is impracticable, the actual state shall be established by documentary reconciliation; where possible, a combination of physical stocktaking and documentary reconciliation shall be used.

(2) An inventory list is an accounting record that ensures the verifiability of the bookkeeping (article 8(4)). The inventory list must state the following information:
a)	the business name or designation of an accounting entity; a legal person shall state its registered office, and a natural person shall state his/her permanent residence and place of business if it differs from the permanent residence,
b)	the stocktaking opening date, date for which the stocktaking was performed, and the stocktaking closing date,
c)	the state of assets, with quantity units and prices indicated according to article 25,
d)	the place of storage of assets,
e)	the name, surname and signature record of the person materially responsible  or person responsible for the respective type of asset,
f)	a list of the liabilities and their valuation according to article 25,
g)	a list of the actual state of the difference between assets and liabilities,
h)	recommendations for assessing the reality of a valuation of assets and liabilities as of the balance sheet date, ascertained in the course of stocktaking in order to adjust the valuation of assets and liabilities pursuant to articles 26 and 27, where such facts are known to the persons who performed the stocktaking, 
i)	the name, surname and signature record of the persons responsible for establishing the actual state of assets and liabilities and the difference between assets and liabilities,
j)	notes to the financial statements.

(3) The state of assets and liabilities and the difference between assets and liabilities in the inventory lists shall be compared to the state of assets and liabilities and the difference between assets and liabilities in the accounts, and the results of the comparison shall be entered in a stocktaking report. The stocktaking report is an accounting record which proves the objective correctness of accounting and which must state
a)	the business name or designation of an accounting entity; a legal person shall state its registered office, and a natural person shall state his/her permanent residence and place of business if it differs from the permanent residence,
b)	the results of the comparison of the actual state of assets and liabilities and the difference between assets and liabilities as stated in the accounts,
c)	the results arising from the assessment of the reality of a valuation of assets and liabilities pursuant to articles 26 and 27,
d)	the name, surname and signature record of persons responsible for stocktaking at the accounting entity. 

(4) The physical stocktaking of non-inventory tangible assets which cannot be performed as of the balance sheet date may be carried out during the last three months of the accounting period or in the first month of the next accounting period. The physical stocktaking may be performed by an accounting entity at any time during the accounting period. Such stocktaking must demonstrate the state of tangible assets as of the balance sheet date by using information from the physical stocktaking which is adjusted by additions to and disposals of the mentioned assets during the period from the end of the physical stocktaking until the end of the accounting period, or from the beginning of the next accounting period until the end of the physical stocktaking in the first month of the next accounting period.

(5) A stocktaking difference may take one of the two following forms:
a)	a shortage, where the actual state identified is lower than the book value, and it cannot be substantiated by any accounting record; if involving cash, stamps and vouchers, it is referred to a deficit,
b)	a surplus, where the actual state identified is higher than the book value, and it cannot be substantiated by any accounting record.

(6) Differences resulting from valuation adjustments made pursuant to articles 26 and 27 shall not be regarded as stocktaking differences.

(7) The accounting entity shall record stocktaking differences under the accounting period for which the state of assets and liabilities and the difference between assets and liabilities were verified by the stocktaking.

PART SEVEN
Accounting documentation

Article 31
Accounting record

(1) The accounting documentation of an accounting entity comprises all the accounting records created according to article 4, paragraph 5.
 
(2) For the purposes of this Act, an accounting record shall be deemed to be:
a)	in a written form where it is made out in handwriting, by typewriter, by printing or reprographic techniques, or by a computer printer device in a format readable for a natural person,
b)	in a technical form where it is made out by electronic, optical or other methods not specified in paragraph (a), such that allow for its conversion into a written form; the conversion into a written form shall not be required for signature records according to article 32 paragraph 3.
 
(3) An accounting entity may convert accounting records from one form into another. In that case, the accounting entity shall ensure that the contents of the records in the original form and those of the records in the converted form are identical. This obligation shall be considered to have been fulfilled if the accounting entity submits the accounting record with identical contents in its original and converted form or demonstrate such fulfilment by another method not disputed by any of the persons using the record in their work. The accounting entity shall be required to have available the accounting records that evidence the form of bookkeeping.

(4) All forms of accounting records are equivalent, and the contents of all accounting records have identical consequences if made out in any of the forms specified in paragraph 2.
 
(5) An accounting entity keeping accounting records in a technical form must have at its disposal such equipment, carriers and devices that enable their conversion into a form readable for a natural person. For the requirements of auditing financial statements (article 19), their publication (article 23d), and the requirements of bodies mentioned in article 38, the accounting entity shall upon request enable authorised persons to familiarise themselves with the content of those accounting records that such persons select in the written form and in a technical form, if the accounting entity is keeping accounting records in a technical form. The accounting entity shall be under this obligation for so long as, and to the extent that, it is required to maintain or archive the said accounting records.
 
(6) An accounting entity is required, at the request of an auditor, to provide accounting records in the form requested by the auditor if it maintains accounting records in this requested form.

Article 32
Verifiability of accounting records

(1) For the purposes of this Act, an accounting record shall be deemed verifying only where:
a)	its contents directly evidence the relevant fact,
b)	its contents indirectly evidence the relevant fact through the contents of other verifying accounting records,
c)	it is an accounting record transferred pursuant to article 33 and it meets the conditions of paragraph (a) or paragraph (b).

(2) An accounting record transferred outside an accounting entity through an information system shall be deemed verifying if the transfer is conducted in accordance with article 33. Any accounting record to be transferred must be secured by a signature record. The accounting record shall be secured not later than the time of its delivery for transfer.

(3) A signature record shall be understood to mean an accounting record signed by hand or a similar verifying accounting record that replaces the handwritten signature in a technical form. Both forms of signature record shall be deemed of equal validity and both may be used wherever a handwritten signature is required.
 
(4) Several signature records may be attached to a single accounting record. 

Article 33
Transfer of accounting records

When transferring accounting records, an accounting entity shall ensure their protection against misuse, damage, destruction, unauthorised interference and unauthorised access. 

Article 34
Correction of accounting records

(1) Where an accounting entity ascertains that any of the accounting records in its bookkeeping is incomplete, unverifiable, inaccurate, or incomprehensible, the accounting entity shall ensure the correction thereof without undue delay in the manner specified in paragraph 2. 

(2) The correction shall be carried out in such a way that it is possible to identify the person who carried it out, the date of correction and the contents of the accounting record before and after correction. A correction made in an accounting record shall not result in incompleteness, unverifiability, inaccuracy, incomprehensibility or a lack of transparency in the bookkeeping.

(3) For any correction to an accounting entry, it is required to make out an accounting document.
 
(4) The date of an accounting record shall be recorded with such accuracy that any uncertainty in the designation of the time does not give rise to uncertainty in the designation of the contents of the accounting transactions.
 
(5) An accounting record that is illegible or cannot be converted into a readable form shall be not be deemed an accounting record kept by the accounting entity. 

Article 35
Archiving and protecting accounting documentation

(1) An accounting entity shall ensure that accounting documentation is protected against loss, destruction or damage. The accounting entity shall also ensure the protection of related technical equipment, information carriers and software against misuse, damage, destruction, unauthorised interference, unauthorised access, loss, theft or appropriation.

(2) The accounting entity shall keep its accounting documentation in archives for the period stipulated in paragraph 3. The disposal of accounting documentation is subject to the general regulations on archiving.

(3) Accounting records shall be archived as follows:
a)	financial statements overviews of selected financial statements data specified in Articles 17a and 22 and annual reports shall be archived for ten years following the year to which they pertain,
b)	accounting documents, books of account, lists of books of account, lists of numerical codes or of other symbols and acronyms used in bookkeeping, a depreciation schedule, inventory lists, stocktaking reports and the accounting schedule shall be archived for ten years following the year to which they pertain,
c)	accounting records which contain information relating to the method of bookkeeping and which the accounting entity uses to evidence the form of bookkeeping (article 31(2)) shall be archived for ten years following the year in which they were last used, 
d)	other accounting records shall be archived for a period of time set out in the accounting entity's archiving plan so that there is no violation of other provisions of this Act and separate regulations legislation.

(4) An accounting entity obliged to have its financial statements audited pursuant to Articles 19 or 22 shall be obliged to store the Auditor's Report for a period of ten years following the respective audited year.
 
(5) An accounting entity prior to its dissolution, or prior to the termination of its business or other earning activities, shall ensure that its accounting records are archived.

Article 36
Other provisions on accounting documentation

(1) The accounting entity shall keep the accounting records relating to ongoing administrative proceedings, criminal proceedings, court judicial proceedings or other proceedings that are pending, until the end of the accounting period following the accounting period in which the time limit for their review has expired. The accounting records that are used to establish or verify a tax base or other facts critical to the proper determination of tax or tax liability shall be kept for a period laid down in this Act, but in any case at least until the expiry of the right to impose tax or a tax differential pursuant to a separate regulation47a) or for a period laid down in separate regulations.45a)

(2) An accounting entity may use as accounting records also payroll sheets, tax documents or other documentation arising from separate regulations. Such use of documentation must meet the requirements of this Act applying to accounting records. The accounting entity shall keep such documentation for the period stipulated in article 35(3), depending on the function of the documentation in the bookkeeping.

(3) Accounting documents and other accounting records relating to warranty periods and complaint procedures shall be kept by an accounting entity for the duration of the warranty periods or complaint procedures; accounting records relating to uncollected receivables or outstanding payables shall be kept until the end of the accounting period following the accounting period in which they were collected or paid.

(4) Regarding books of analytical records for receivables, books of analytical records for payables, accounting documents and other accounting records arising directly from foreign relations before 1 January 1949, as well as financial statements relating to the transfer of property to other legal or natural persons conducted under a separate regulation,46) the accounting entity shall keep them until consent for their disposal is given by the Ministry either at its own initiative or at the request of the accounting entity.

Article 37

(1) The Ministry may for the following entities lay down different details for the content of asset items and their reporting in the financial statements on grounds of their special character:
a)	the Armed Forces of the Slovak Republic, in cooperation with the Ministry of Defence of the Slovak Republic, the Ministry of Interior of the Slovak Republic and the Ministry of Transport, Posts and Telecommunications of the Slovak Republic,
b)	the armed security corps, in cooperation with the Ministry of Interior of the Slovak Republic and the Ministry of Transport, Posts and Telecommunications of the Slovak Republic,
c)	the Prison and Court Guard Corps, in cooperation with the Ministry of Justice of the Slovak Republic, 
d)	the Slovak Intelligence Service, 
e)	the State Material Reserves Administration.

(2) The decree referred to in article (4) paragraph 2, setting out the accounting procedures and the framework chart of accounts for banks,47) branches of foreign banks,47) the National Bank of Slovakia and the Deposit Protection Fund, shall be issued by the Ministry upon consultation with the National Bank of Slovakia.

PART EIGHTH
SPECIAL PROVISIONS FOR TRANSITION
FROM THE SLOVAK CURRENCY TO THE EURO

Article 37a

(1) At the date which immediately preceding the euro introduction date in the Slovak Republic47aa) (hereinafter referred to as “introduction of the euro”), accounting books shall be closed and the interim financial statements shall be prepared in a full scale structure in the annual financial statements and accounting entity
a)	to the accounting period which is the financial year, 
b)	the accounting period is shorter than 12 calendar months due to a change in the accounting period, 
c)	in bankruptcy, 
d)	in liquidation.

(2) The accounting entity which prepares the interim financial statements according to paragraph 1 is not obliged to have audited by the statutory auditor the financial statements under article 19, and to presentation of interim financial statements and the obligation of drawing up the interim report according to article 20 paragraph 4.

(3) The interim financial statements under paragraph 1 of the data from the immediately preceding financial year are not reported, if not at the same time the financial statements, the compilation is required under special legislation.14)

(4) The accounting entity on which the compiled financial statements and at the same time immediately preceding the euro introduction date, converted into Slovak currency
a)	assets and liabilities denominated in euro, with the exception of the advances and the advances provided by the conversion rate,47ab) 
b)	assets and liabilities denominated in other foreign currency as the euro, with the exception of the advances and of the advances rate announced by the National Bank of Slovakia valid on the date immediately preceding the euro introduction date.

(5) Article 29 paragraph 2, second sentence shall not apply to an accounting entity, which prepares the interim financial statements in accordance with paragraph 1. When carrying out stocktaking at the balance sheet date which immediately preceding the euro introduction date.

(6) An accounting entity which did not carried out stocktaking in a other period according to article 29 paragraph 3, shall perform a physical stocktaking of tangible assets, except inventory, which cannot be performed at the balance sheet date which immediately preceding the euro introduction date, shall be carried out during the last three months before the day immediately preceding the euro introduction date. Physical stocktaking may be performed in the period from the beginning of the accounting period to the balance sheet date which immediately preceding the euro introduction date. Such stocktaking must demonstrate the state of tangible assets as of the balance sheet date by using information from the physical stocktaking which is adjusted by additions to and disposals of the mentioned assets during the period from the end of the physical stocktaking until the end of the accounting period, or from the beginning of the next accounting period until the end of the physical stocktaking to the balance sheet date which immediately preceding the euro introduction date.

Article 37b

(1) At the euro introduction date an accounting entity shall open the accounting books including off-balance sheet accounts and balance sheet accounts in euro for informative purposes in Slovak koruna.

(2) At the euro introduction date an accounting entity shall convert items of assets and liabilities from the Slovak koruna to euro by conversion rate, except in accordance with paragraphs (3) to (5). At the euro introduction date an accounting entity started in article 37a paragraph (1) converted by conversion rate of the Slovak koruna to the euro from the final states of the expenses, the final state income, the summary of revenue and total expenditure levels.

(3) An accounting entity converted at the euro introduction date individual items of the advances denominated in euro on the value of the individual items of the advances and of the advances in the euro at the time the advance and the provision of advance.

(4) At the euro introduction date shall converted from Slovak koruna to euro by historical rate the individual items of accruals accounts, which arose on the date of completion accounting in euro case, paragraph (3) applies mutatis mutandis.
 
(5) An accounting entity, which is a commercial company or cooperative, converted at the date of introduction of the euro share capital denominated in euros on the value of the share capital registered in the commercial register of the euro.

(6) An accounting entity proceeds at the euro introduction date in the rounding of the amounts calculated in accordance with special regulations.47ac)

Article 37c

Article 37a and 37b shall apply to the accounting entity which prepares separate financial statements under article 17 only if the special regulations22a) stipulate otherwise.

Article 37d

During the period of dual circulation the increase and decrease of cash in hand47ad) denominated in Slovak koruna shall by converted using the conversion rate.

PART NINE
Final provisions

Article 38

(1) An accounting entity shall be considered to have committed an administrative delict, if
a)	has not kept  accounts according to article  4 (1) or has  not prepared  financial statements according to article  6 (4),
b)	failed to open its books of account or failed to close its books of account pursuant to article 16, 
c)	has not deposited documents pursuant to article 23a and article 23b, has not disclosed documents pursuant to article 23d or has not complied with the call pursuant to article 23b(1) or (6) within the defined term or in the defined scope,
d)	failed to have the financial statements audited or to verify the correlation of data in the financial statement with data in the annual report, thus violating provisions in articles 19, 22 or 22a, 
e)	failed to provide for the appointment of an auditor or for the dismissal of the auditor pursuant to article 19 paragraph 2,
f)	failed to ensure bookkeeping pursuant to article 8 and this failure led to incorrect presentation of facts in the financial statements, 
g)	failed to ensure bookkeeping pursuant to article 8 and this failure did not frustrate the presentation of facts in the financial statements, 
h)	breached provisions of article 9, 
i)	breached provisions of article 17, 
j)	failed to apply valuation procedures pursuant to articles 24 through 28, 
k)	breached provisions of article 31, 
l)	breached provisions of article 34, 
m)	breached provisions of article 35,
n)	breached the provision of article  11 (3).

(2) The tax authority shall penalize administrative delicts
a)	pursuant to paragraph (1)(a) and (n) by a fine of up to 3,000,000 euro, 
b)	pursuant to paragraph (1) subparagraphs (b) through (f) by a fine of up to two per cent of the amount of total assets reported
1.	in the balance sheet covering the inspected accounting period with valuation adjustments for items under article 26 paragraph (3), however not exceeding 1,000,000 euro, 
2.	in the statement of assets and liabilities prepared for the inspected accounting period, however not exceeding 1,000,000 euro, 
c)	pursuant to paragraph (1) subparagraphs (h) through (m) by a fine of up to two per cent of the amount of total assets reported
1.	in the balance sheet covering the inspected accounting period with valuation adjustments for items under article 26 paragraph (3), however not exceeding 100,000 euro, 
2.	in the statement of assets and liabilities prepared for the inspected accounting period, however not exceeding 100,000 euro, 
d)	pursuant to paragraph (1) subparagraph (g) by a fine of up to two per cent of the amount of total assets reported 
1.	in the balance sheet covering the inspected accounting period with valuation adjustments for items under article 26 paragraph (3), however not exceeding 1000 euro, 
2.	in the statement of assets and liabilities prepared for the inspected accounting period, however not exceeding 1000 euro. 

(3) Repeated committing of an administrative delict as per paragraph 1(a) or 1(n) shall be considered as material violation of this Act.
(4) In the event of repeated discovery by tax authority of an administrative delict as per paragraph 1(a) or 1(n), the tax authority shall give penalty as per paragraph 2(a) and file a motion for revocation of the trade license.47ae)

(5) The bookkeeping and reporting, which is in compliance with separate regulations,22a) shall not be considered a violation of the obligations laid down by this Act in the accounting entities for which these obligations arise from article 17a. 

(6) The tax authority shall be entitled to conduct an inspection of the accounting entity's compliance with the provisions of this Act. The Tax Code shall apply mutatis mutandis to the conduct of inspections, procedure of fine imposition and its enforcement, and to appeal procedures against fine decisions. 

(7) When imposing a fine pursuant to paragraph (2), the tax authority shall take into account the gravity, scope, duration, consequences and circumstances of the administrative delict. When imposing a fine for the inspected accounting period, the tax authority shall take into account whether the accounting entity recorded, pursuant to article 3 paragraph (1), accounting entries that rectified the mistakes in the inspected accounting period in some other accounting periods. Furthermore, the tax authority shall take into consideration whether the accounting entity has notified in writing the local competent tax authority of the accounting entry type and amount, which rectified the mistakes in the inspected accounting period, recorded in the current accounting period, and has done so before the inspection started pursuant to separate regulations.48) 

(8) The tax authority shall impose a fine according to paragraph (2) within one year from the day it became aware of the administrative delict, however, no later than within five years as of the end of the accounting period, in which the administrative delict was committed. 

(9) Collected fines shall represent a revenue source of the state budget.

Article 38a

A tax authority finding a violation of accounting regulations that applied until 1 January 2003 may impose a fine of up to EUR 33 193.91, provided that the violation has resulted in incomplete, unverifiable or incorrect accounting.

Article 39

A deadline for archiving accounting documents and records that has not expired when this Act enters into force shall continue to apply according to the previously valid legislation.

Article 39a
deleted

Article 39b

(1) First consolidated financial statements in accordance with this Act shall be prepared for the first accounting period beginning not earlier than 1 January 2005.

(2) First individual financial statements in accordance with article 17a shall be prepared for the first accounting period beginning not earlier than 1 January 2006; until that date, article 38 (3) shall not apply to accounting entities. 

(3) According to article 17b paragraph (2), the National Bank of Slovakia shall prepare the financial statements for the first time for the first accounting period in which the Slovak Republic shall establish EUR as its currency.

(4) The current legislation shall apply to proceedings commenced prior to 1 January 2005.

Article 39c

This Act transposes the legally binding acts of the European Union which is set out in the Schedule.

Article 39d

(1) Declaration on the administration and management of a company shall show the accounting entity, which has issued securities and these have been admitted to trading on a regulated market, as a special part of the annual report according to article 20 paragraph 6 through 8 for the first time for the accounting period beginning on January 1, 2007 and later.

(2) Consolidated financial statements of the central administration and consolidated financial statements of accounting entities of public administration shall be prepared for the first time for the accounting period beginning on January 1, 2009.

(3) Summary financial statements of public administration shall be prepared for the first time for the accounting period beginning from January 1, 2010.

(4) For the proceedings according to article 38 began before January 2008 the regulations effective to December 31, 2007 shall apply.

Article 39e

Provision of article 9 paragraph 2, in wording which is effective from 1 December 2008 shall be used for drawing up the financial statement which is draw up as after the date of effectiveness of this law.

Article 39f
Transitional provisions on amendments effective from 1 March 2009

(1) Natural person that was an accounting entity until 28 February 2009 and has decided to maintain tax records according to special legislation4a) after 1 March 2009 shall close its accounting books as of 28 February 2009; financial statements shall not be prepared. This natural person shall transfer information from the accounting books to tax records to the extent required for the purpose of maintaining tax records according to special legislation.4a)

(2) The provisions of articles 9, 19, 22 and 28 in the wording effective from 1 March 2009 shall be used for the preparation of financial statements that shall be prepared as of 1 March 2009 or later.

Article 39g
Transitional provisions to the regulations effective as of 1 January 2010

(1)	The amortisation of goodwill or negative goodwill, which occurred before 31 December 2009 including, shall be governed by the provisions of the law in the wording effective until 31 December 2009.

(2)	The provision of article 19 in the wording effective as of 1 January 2010 shall, for the first time, be applied to the audit of ordinary financial statements and extraordinary financial statements of joint-stock companies prepared as of 1 January 2010 and thereafter. 

Article 39h
Transitional provision concerning amendments effective as of 31 December 2010
 
The provision of Article 22, paragraph 12, applicable as of 31 December 2010, shall for the first time be applied to assessing the obligation to prepare consolidated financial statements and a consolidated annual report compiled as at 31 December 2010 and onwards.

Article 39i
Transitional provisions to the amendments effective as of 1 January 2012

(1) An association of landowners that kept its accounts in the single-entry bookkeeping system, shall start keeping its accounts in the double-entry (accrual) bookkeeping system as of 1 January 2012 if its accounting period equals a calendar year, or as of the first day of the accounting period beginning after 1 January 2012 if its accounting period equals a financial year. 

(2) Article 22 paragraph (10), in its wording effective as of 1 January 2012, shall be applied for the first time to the assessment of conditions underlying the preparation of consolidated financial statements and a consolidated annual report for the accounting period starting 1 January 2012 and later. 

(3) Article 23a shall be applied for the first time to the filing of documents related to the financial statements prepared as of 31 December 2012 and later. 

(4) Any procedure pursuant to article 38 that was launched prior to 1 January 2012 shall be governed by the provisions effective up to 31 December 2011. Fines for a violation of the provisions of this Act that occurred prior to 1 January 2012 shall be governed by the provisions of this Act in their wording effective as of 1 January 2012 if these are more favourable for the accounting entity.

Article 39j
Temporary provisions on amendments effective from 1 January 2014

(1) The provisions of article 2 paragraph 5 through 7 in the wording effective from 1 January 2014 shall for the first time apply to an accounting period commencing on or after 1 January 2014.

(2) The provisions of article 17a paragraph 2 (a) and (b) in the wording effective from 1 January 2014 shall for the first time apply to financial statements prepared as at or after 1 January 2014.

(3) The provisions of article 17a paragraph 3 (c) and (d) in the wording effective from 1 January 2014 shall for the first time apply to financial statements prepared as at or after 1 January 2014.

(4) An accounting entity required to have its financial statements audited by an auditor pursuant to article 19 paragraph (4) shall, after 1 January 2014, comply with this requirement in accordance with the regulations effective until 31 December 2013 where an annual ratio of received tax, received before 31 December 2013, is involved.
 
(5) An accounting entity required to publish its balance sheet and profit and loss statement in the Commercial Bulletin pursuant to article 21 paragraph (2) in the wording effective until 31 December 2013 shall, after 1 January 2014, comply with this requirement in accordance with the regulations effective until 31 December 2013 where it involves the publication of balance sheets and profit and loss statements for an accounting period ending not later than 31 December 2008.

(6) An accounting entity required to publish its balance sheet and profit and loss statement in the Commercial Bulletin pursuant to article 21 paragraph (2) in the wording effective until 31 December 2013 shall, after 1 January 2014, comply with this requirement in accordance with article 23b where it involves the publication of balance sheets and profit and loss statements for an accounting period ending between 1 January 2009 and 31 December 2012.

(7) An accounting entity required to publish its financial statements audited by an auditor in the Commercial Bulletin pursuant to a separate regulation29h) in the wording effective until 31 December 2013 shall, after 1 January 2014, comply with this requirement in accordance with the regulations effective until 31 December 2013 where it involves the publication of financial statements audited by an auditor for an accounting period ending not later than 31 December 2008.

(8) An accounting entity required to publish its financial statements audited by an auditor in the Commercial Bulletin pursuant to a separate regulation29h) in the wording effective until 31 December 2013 shall, after 1 January 2014, comply with this requirement in accordance with article 23b where it involves the publication of financial statements audited by an auditor for an accounting period ending between 1 January 2009 and 31 December 2012.

(9) The provisions of article 23 paragraph (2)(h) and (i) in the wording effective from 1 January 2014 shall for the first time apply to the deposition of annual reports prepared for an accounting period ending on or after 31 December 2013.

(10) The provisions of article 25 paragraph (7) and article 27 paragraph (11) shall for the first time apply to an accounting period commencing on or after 1 January 2014. The change in the valuation method shall be reported in financial statements covering an accounting period commencing on or after 1 January 2014
.
Article 39k
Transitional provisions on amendments effective from 1 January 2015

(1) An accounting unit using the calendar year as the accounting year shall proceed pursuant to article 2(5) through (14) in the wording effective from 1 January 2015 for the first time beginning on 1 January 2015; compliance with the conditions defined in article 2(5) through (14) is evaluated as of 31 December 2014.

(2) An accounting unit using the financial year as the accounting year shall proceed pursuant to article 2(5) through (14) in the wording effective from 1 January 2015 for the first time in the financial year beginning in 2015; compliance with the conditions pursuant to article 2(5) through (14) is evaluated as of the date to which the financial statements are completed during2015.

(3) An accounting unit considered a micro accounting unit in 2014 is considered a micro accounting unit pursuant to the Act in the wording effective from 1 January 2015.

(4) An accounting unit that decides pursuant to the Act in the wording effective until 31 December 2014 not to be considered a micro accounting unit is considered a small accounting unit from 1 January 2015.

Article  39l
Transitional provisions on  amendments effective from 1 July 2015

(1) The provision of article  2 (10) in the wording effective from 1 July 2015 will be used for the first time in the accounting period ending on 31 December 2015 at the latest. If an accounting unit with the accounting period beginning after 1 January 2015 prepares  an extraordinary financial statement, it will use article  2 (10) with the wording effective from 1 July 2015 for its preparation  after 30 June 2015.

(2) Acting according to article  38 initiated and not legally terminated before 1 July 2015 is subject to the regulations applicable until 30 June 2015.

Article  39m
Transitional provisions on  amendments effective from 1 January 2016

(1) An accounting unit the accounting period of which is the financial  year, evaluates assets according to article  25 (1) letter (d) and assets and liabilities according to article  27 in the wording effective from 1 January 2016 for the first time for the financial  year beginning in the course of 2016.

(2) An accounting unit the accounting period of which is the financial  year, prepares  the annual report, the report on payments, the consolidated annual report and the consolidated report on payments for the first time for the financial  year beginning in the course of 2016.

(3) A parent accounting unit prepares  consolidated financial statements according to article  22 in the wording effective from 1 January 2016 for the first time for the financial  year beginning in the course of 2016.

(4) Article  28 (4) with the wording effective from 1 January 2016 will apply to goodwill and activated costs of development procured from 1 January 2016.

Article 39n
Transitional provisions to the regulations effective from 1 January 2016

(1) An accounting entity whose accounting period is a financial year shall follow Article 2(10) in the wording effective from 1 January 2016 for the first time in the financial year which starts during the year 2016.

(2) When preparing consolidated financial statements for the accounting period ended 31 December 2016, a parent accounting entity whose accounting period is a calendar year shall follow Article 22(11) in the wording effective from 1 January 2016.

(3) When preparing consolidated financial statements for the accounting period ended during the year 2017, a parent accounting entity whose accounting period is a financial year shall follow Article 22(11) in the wording effective from 1 January 2016.

Article 39o
Transitional Provisions to the Regulations Effective from 17 June 2016

The regulation effective until 16 June 2016 shall apply to the proceedings referred to in Article 38(1)(f) initiated before 17 June 2016.

Article 39p
Transitional Provisions to the Regulations Effective as of 1 January 2018

(1) Provisions of Art. 35(3)(b) and (c) in the version effective as of 1 January 2018 shall also apply to the archiving of accounting records the archiving period of which started to run before 1 January 2018 and has not expired until 31 December 2017.

(2) The provisions of Article 38(3) and (4) in the version effective as of 1 January 2018 shall apply to administrative delicts committed after 31 December 2017.

Article 40

This Act repeals:
Act no. 563/1991 Coll. on Accounting as amended by Act of the National Council of the Slovak Republic no. 272/1996 Coll., Act no. 173/1998 Coll., Act no. 336/1999 Coll., Act no. 387/2001 Coll., Act no. 483/2001 Coll. and Act no. 247/2002 Coll.

Article 41

This Act (no. 431/2002 Coll.) shall come into effect on 1 January 2003 except for article 3(4) to (7), which shall come into effect on 1 January 2004.
 
This Act (no. 562/2003 Coll.) shall come into effect on 1 January 2004 except for paragraphs (1), (2) and (6), which shall enter into force on 1 January 2005.

This Act (no. 561/2004 Coll.) shall come into effect on 1 January 2005 except for article I (27), which shall enter force on 1 January 2006.

This Act (no. 518/2005 Coll.) shall come into effect on 1 January 2006.

This Act (no. 688/2006 Coll.) shall come into effect on 29th December 2006.

This Act (no. 198/2007 Coll.) shall come into effect on 1 January 2008 except for  article 22a which shall come into effect on 1 January 2009 and article 20 paragraphs (6) trough (8) and article 39d which shall come into effect on the date of promulgation (i.e. 26 April 2007).

This Act (no. 540/2007 Coll.) shall come into effect on 1 January 2008.

This Act (no. 621/2007 Coll.) shall come into effect on 1 January 2008.

This Act (no. 378/2008 Coll.) shall come into effect on 1 December 2008.

This Act (no. 465/2008 Coll.) shall come into effect on 1 December 2008, except part. I, items 1 to 12, 15 and 16, part. II and part XVII, which shall come into effect on 1 January 2009.

This Act (no. 567/2008 Coll.) shall come into effect on 1 January 2009.

This Act (no. 61/2009 Coll.) shall come into effect on 1 March 2009.

This Act (no. 492/2009 Coll.) shall come into effect on 1 December 2009.

This Act (no. 504/2009 Coll.) shall come into effect on 1 January 2010.

This Act (no. 468/2010 Coll.) shall come into effect on 31 December 2010.

This Act (no. 547/2011 Coll.) shall come into effect on 31 December 2011 except for Art. I paragraphs 1, 2, 4 through 11, 16, 17, 19, 20, Article 23, and Article 23a paragraphs 21, 22 through 35, which shall enter into force on 1 January 2012, and Art. I paragraphs 3, 13 through 15, Article 23b and Article 23c paragraph 21, and Art. II through V and Art. VII through XL, which shall enter into force on 1 January 2013.

This Act (no. 440/2012 Coll.) shall come into effect for the Art. III (Act no. 431/2002 Coll.) and VII (Act no. 547/2011 Coll.) on 30 December 2012.

This Act (no. 352/2013 Coll.) shall come into effect on 1 January 2014.

This Act (no. 463/2013 Coll.) shall come into effect on 1 January 2014.

This Act (no. 333/2014 Coll.) shall come into effect for the Art. IV (Act no. 431/2002 Coll.) on 1 January 2015.

This Act (no. 333/2014 Coll.) shall come into effect for the Art. IV (Act no. 431/2002 Coll.) on 1 January 2015.

This Act (no. 130/2015 Coll.) shall come into effect for the Art. I (Act no. 431/2002 Coll.) on 1 July 2015 except for Art. I items 1, 3 to 5, 9 to 13, 15 to 37 and article 39m in item 41, which shall come into effect on 1 January 2016 and Art. I item 14, which shall come into effect on 1 January 2017.

This Act (no. 423/2015 Coll.) shall enter into force on 1 January 2016, except for Section I and Section II (Act no. 431/2002 Coll.) (3) and (4), (6) through (10), and Article 39o in Section II (11) which shall enter into force on 17 June 2016.

This Act 275/2017 Coll. shall come into force on 1 January 2018.
This Act shall come into force on 1 January 2018.

President of the Slovak Republic

President of the National Council of the Slovak Republic

Prime Minister of the Slovak Republic

Schedule to Act no. 431/2002 Coll. as amended
__________________________________________________________________________________

1) Article 18 of the Civil Code as amended by Act no. 509/1991 Coll.
2) Article 21 of the Commercial Code as amended by Act no. 500/2001 Coll.
3) For instance, Act no. 34/2002 Coll. on Foundations and consequential amendments to the Civil Code, as amended
4) Act no. 595/2003 Coll. on Income Tax as amended by Act no. 43/2004 Coll.
4a) Article 6(11) of Act 595/2003 Coll. as amended.
4b) Article 27(2)(c) of the Commercial Code as amended.
4c) Act No. 97/2013 Coll. on land communities.
5) Article 3 of Act No. 523/2004 Coll. on Budgetary Rules of Public Administration and on the Amendments of some Acts
8) Article 4(2) of Act of the National Council of the Slovak Republic No.1/1993 Coll. on the Collection of Laws of the Slovak Republic as amended.
7a)) For example, Article 69(6)(d) of the Commercial Code.
7b) Article 69a, paragraph (1) of the Commercial Code, as amended by Act No 500/2001Coll.
7c)  Article 69, paragraphs (3) and (4) of the Commercial Code, as amended.
9) E.g. Art. 56 of Act No. 43/2004 Coll. as amended, Art. 40 of Act No. 203/2011 Coll. as amended.
10) Article 61(1) of the Civil Code as amended by Act no. 500/2001 Coll.
11) Act no. 566/2001 Coll. on Securities and Investment Services and consequential amendments (Securities Act).
12) Act no. 95/2002 Coll. on Insurance and consequential amendments.
13) Act of the National Council of the Slovak Republic no. 270/1995 Coll. on the State Language as amended.
14) For instance, Act no. 483/2001 Coll. on Banks and consequential amendments, Article 14 of Act no. 595/2003 Coll.
15) For example Article 1 of the Act of the National Council of the Slovak Republic No. 566/1992 Coll. on the National Bank of Slovakia as amended, Article 3 of Act No. 594/2003 Coll. as amended
16) Article 37 of the Commercial Code as amended by Act no. 600/1992 Coll.
17) Act no. 461/2003 Coll. on Social Insurance as amended. 
19) Act No. 581/2004 Coll. on Health Insurance Companies, Supervision of Health Care and on the Amendment of Some Acts as amended by later regulations.
20) For example, article 12 of Act no. 147/1997 Coll. on Non-Investment Funds and consequential amendments to Act of the National Council of the Slovak Republic no. 207/1996 Coll.
21) Article 69b of the Commercial Code as amended by Act no. 500/2001 Coll.
22) Act no. 540/2001 Coll. on State Statistics
22a) Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (special edition OJ, chapter 13/vol. 29; OJ L 243, 11.9.2002), as amended by Regulation (EC) No. 297/2008 of the European Parliament and of the Council of 11 March 2008, (OJ L 97, 9.4.2008), Commission Regulation (EC) No 1126/2008 of 3 November 2008 adopting certain international accounting standards in accordance with Regulation (EC) of the European Parliament and of the Council No. 1606/2002 (OJ L 320, 29.11.2008) as amended.
22aa) Article 25 of Act No. 429/2002 Coll.
22aaa) The Act of the National Council of the Slovak Republic No.258/1993 Coll. on Railways of the Slovak Republic as amended
22ab) For example Article 17 paragraph (1) letter c) of  Act No. 595/2003 Coll. as amended by Act No. 534/2005 Coll. – the Commercial Code.
22ac) The International Accounting Standard 27 para.point 38, International Accounting Standards 28 and 31, Regulation (EC) No. 1126/2008, as amended.
22ad) Act No. 492/2009 Coll. on payment services and on amendments to certain acts, as amended.
22ae) Art. 4 of Act No. 562/2004 Coll. on European Companies amending and supplementing certain acts.
22af) Art. 4 of Act 91/2007 Coll. on the European Cooperative.
22ag)  Art 2 of Act No. 177/2004 Coll. on the European Economic Interest Grouping changing and amending the Act No. 595/2003 Coll. on income tax.
22b) Protocol on the Statute of the European System of Central Banks and of the ECB, Annex No. 18 to the Treaty Establishing the European Community (Notification No. 185/2004 Coll.)
22c) Article 2 of Act No. 423/2015 Coll. on Statutory Audit and on Amendments and Supplements to Act No. 431/2002 Coll. on Accounting, as amended.
22ca) Article 14 paragraph (2) of Act. No. 595/2003 Coll. as amended by Act. No. 688/2006 Coll.
24) For example, article 40 of Act no. 483/2001 Coll., article 34(3) of Act no. 34/2002 Coll. 
24a) Article 19 of Act No. 423/2015 Coll.
24aa) Act no. 80/1997 Coll. on the Export-Import Bank of the Slovak Republic as amended.
24aaa) Article 34 of Act No. 423/2015 Coll.
25) For instance, article 40 of Act no. 483/2001 Coll., article 35(4) of Act no. 34/2002 Coll.
26) Article 50 of Act no. 595/2003 Coll.
26aa) For example, Article 25 of Act No. 147/1997 Coll., Article 34 of Act No. 213/1997 Coll. on non-profit organisations providing social welfare services as amended by Act No. 35/2002 Coll.
27) For example article  39 of Act of the National Council of the Slovak Republic No. 566/1992 Coll., as amended, article  33 (3) of Act No. 213/1997 Coll. as amended by Act No. 445/2008 Coll., article  34 (3) of Act No. 34/2002 Coll. as amended by Act No. 463/2013 Coll.
27a) Article 161d(2) of the Civil Code.
28a) For example Act No. 581/2004 Coll. as amended.
28aa) Article 8 Letter (f) of Act No. 566/2001 Coll.
28ab) For example article  15 of Act No. 429/2002 Coll., as amended, article  76 of Act No. 566/2001 Coll., as amended.
28b) Article 23 of Act No. 540/2007 Coll. 
28c) For example, Article 18 of Act No. 429/2002 Coll. on the Stock Exchange as amended.
28d) Annex 1, section B, divisions 05 to 08 of Regulation (EC) No. 1893/2006 of the European Parliament and of the Council as of 20 December 2006 establishing the statistical classification of economic activities NACE Revision 2 and amending Council Regulation (EEC) No. 3037/90 as well as certain EC Regulations on specific statistical domains (OJ L 393, 30 December 2006), as amended.
28e) Annex 1, section A, division 02, group 02.2 of Regulation (EC) No. 1893/2006, as amended.
29a) Decree of the Statistical Office of the Slovak Republic No. 306/2007 Coll. establishing the statistical classification of economic activities.
29b) For example, Act No. 111/1990 on state enterprises as amended, Act of the National Council of the Slovak Republic No. 258/1993 Coll. as amended.
29ba) Article  5 of Act No. 523/2004 Coll.
29c) Article 2 of Act No. 215/2004 Coll. on the Protection of Confidential Information amending and supplementing certain acts as amended.
29d) Act No. 275/2006 Coll. on general government information systems and on amendments to certain acts as amended. 
29da) Article 34 of Act No. 429/2002 Coll. as amended.
29db) Art. 5(ab) of Act No. 483/2001 Coll. as amended by Act No. 213/2014 Coll.
29e) For example, Article 24 of Act No. 147/1997 Coll. as amended by Act No. 445/2008 Coll., Article 33 of Act No. 213/1997 Coll. as amended, Article 8 of Act No. 119/2010 Coll. on packaging and on amendments to Act No. 223/2001 Coll. on waste and on amendments to certain acts as amended, Act No. 90/2008 Coll. on the European grouping of territorial cooperation and on supplements to Act No. 540/2001 Coll. on state statistics as amended. 
29f) Article 14 of Act No. 563/2009 Coll. on tax administration (Tax Code) and on amendments to certain acts. 
29g) Article 41 paragraph 1 of Act No. 595/2003 Coll. as amended by Act No. 548/2010 Coll., Article 15 of Act No. 563/2009 Coll. 
29h) For example, Article 24 of Act No. 147/1997 Coll. as amended by Act No. 445/2008 Coll., Article 33 of Act No. 213/1997 Coll. as amended. 
29ha) For example, article 25 of Act No. 147/1997 Coll. as amended by Act No. 352/2013 Coll., article 34 of Act No. 213/1997 Coll. as amended, article 35 of Act No. 34/2002 Coll. as amended.
29i) For example, Article 24(3) of Act No. 147/1997 Coll., Article 33(4) of Act No. 213/1997 Coll., Act No. 595/2003 Coll. as amended. 
29j) Article 2 paragraph 2(h) of Act No. 291/2002 on State Treasury and on amendments and supplements to certain acts as amended. 
29k) Article 13, 14, 30 through 33 of Act No. 563/2009 Coll. as amended.
29ka) Article 3 of Act No. 530/2003 Coll. on the Companies Register and on amendments to certain other acts, as amended.
29kb) Article 48 of Act No. 429/2002 Coll. as amended.
29l) For example, Act No. 308/2000 Coll. on broadcasting and retransmission and on amendment of Act No. 195/2000 Coll. on telecommunications as amended, Act No. 566/2001 Coll. as amended.
29m) Act No. 211/2000 Coll. on free access to information and on amendments to certain acts (Freedom of Information Act) as amended.
29n) Act No. 71/1967 Coll. on administrative proceedings (the Administrative Code) as amended.
29o) Article 66b(3) of Act No. 455/1991 Coll. on Trade Licensing (Trade Licensing Act) as amended.
33) For example, Act No. 483/2001 Coll. as amended, Act No. 566/2001 Coll. as amended, Act No. 594/2003 Coll. as amended
33a) Art. 219 paragraphs 1 through 3 of the Treaty on the Functioning of the European Union as amended (OJ EU C 83, 30. 03. 2010). Art. 12 paragraph 12.1 of the Protocol on the Statute of the European System of Central Banks and of the European Central Bank (OJ EU C 83, 30. 03. 2010). Article 28 paragraph 2 of the Act of the National Council of the Slovak Republic No. 566/1992 Coll. on the Slovak National Bank as amended.
34) For example, Act no. 483/2001 Coll., Act no. 566/2001 Coll.
35) Article 59 of the Civil Code as amended by Act no. 500/2001 Coll.
35a) Act No. 43/2004 Coll. on the old-age pension saving scheme and on amendments to certain acts as amended. Act No. 650/2004 Coll. on the supplementary old-age pension saving scheme and on amendments to certain acts as amended.Act No. 203/2011 Coll. on collective investments and on amendments to certain acts.
35aa) Article 4 (1) of Act No. 343/2015 Coll. on Public Procurement amending and supplementing certain acts.
35ab) Article 88b of Act No. 43/2004 Coll. as amended by Act No. 334/2011 Coll.
35b) Article 20 paragraph 9 of Act No. 595/2003 Coll. as amended.
35c) Article 22 through 29 of Act No. 563/2003 Coll. as amended.
36) Article 20 of Act no. 595/2003 Coll.
37) Act of the National Council of the Slovak Republic no. 273/1994 Coll. as amended.
Act of the National Council of the Slovak Republic no. 274/1994 Coll. as amended.
Act of the National Council of the Slovak Republic no. 387/1996 Coll. as amended.
Act No. 280/1997 Coll. as amended.
Act of the National Council of the Slovak Republic no. 566/1992 Coll. as amended.
Act of the National Council of the Slovak Republic no.118/1996 Coll. on Deposit Protection and consequential amendments, as amended
Act No. 381/2001 Coll.
37a) Articles 73a to 73j of Act No. 594/2003 Coll. as amended by Act No. 213/2006 Coll.
37b) Article 119 of Act No. 203/2011 Coll.
38) The Commercial Code as subsequently amended.
39) deleted 
40) deleted
41) Article 659 of the Civil Code as amended by Act no. 509/1991 Coll.
42) Article 553 of the Civil Code as amended by Act no. 509/1991 Coll.
43) Article 133 of the Civil Code as amended by Act no. 509/1991 Coll.
44) For example, Act No. 183/2000 Coll. on libraries, on supplementing Act of the National Council of the Slovak Republic No. 27/1987 Coll. on state conservation and preservation of monuments and historical sites and on the amendment of Act No. 68/1997 Coll. on Matica slovenska as amended, Act No. 49/2002 Coll. on the protection of monuments and historical sites as amended, Act No. 319/2002 Coll. on the defense of the Slovak Republic as amended, Act No. 618/2003 Coll. on copyrights and rights associated with copyrights (Copyright Law) as amended, Act No. 581/2004 Coll. as amended, Act No. 206/2009 Coll. on museums and galleries and on the protection of cultural valuables and on the amendment of the Act of the National Council of the Slovak Republic No. 372/1990 Coll. on minor offences as amended. 
44a) Article 123 paragraph 2 and article 217 of the Commercial Code.
45) Article 184 of the Labour Code.
45a)   For example, Act No. 222/2004 Coll. on Value Added Tax, as amended, Act No. 105/2004 Coll. on the Excise Duty on Spirit and on amendments to Act No. 467/2002 Coll. on the Production of Spirit and its Placement on the Market, as amended by Act No. 211/2003 Coll. as amended.
46) Act no. 92/1991 Coll. on the Conditions of Transfer of State Property to Other Persons as amended.
47 ) Article 2(1) and (8) of Act no. 483/2001 Coll.
47a) Act of the Slovak National Council no. 511/1992 Coll. on Administration of Taxes and Fees and on Changes in the System of Regional Financial Authorities.
47aa) Article 1 paragraph (2) letter e) of Act. 659/2007 Coll. on the introduction of the euro in the Slovak Republic and amending certain laws. 
47ab) Article 1 paragraph (2) letter c) No Act. 659/2007 Coll.
47ac) Decree of Ministry of Finance of the Slovak Republic no. 75/2008 Coll., laying down rules for reporting, conversion and rounding of monetary amounts in connection with the transition to the euro for the purposes of accounting, tax and customs purposes.
47ad) Article 1 paragraph (2) letter f) of Act. No. 659/2007 Coll. 
47ae) Art. 58(1) of Act No. 455/1991 Coll., as amended.
48) Article 46 of the Act No. 563/2009 Coll.

Annex to Act. No. 431/2002 Coll. as amended

LIST OF TRANSPOSED LEGALLY BINDING ACTS OF THE EUROPEAN UNION

1.	Fourth Council Directive 78/660/EEC of  25 July 1978 based on Article 54 (3) (g) of the Treaty on the annual accounts of certain types of companies (Extraordinary issue of OJ EU, chap.17/ vol.1; OJ EC L 222, 14.8.1978), as amended by Council Directive 83/349/EEC of 13 June 1983 (Extraordinary issue of OJ EU, chap.17/ vol.1; OJEC L 193, 18.7.1983), Council Directive 84/569/EEC of 27. November 1984  (Extraordinary issue of OJ EU, chap.17/ vol.1; OJEC L 314, 4.12.1984), Council Directive 89/666/EEC of 21. December 1989 (Extraordinary issue of OJ EU, chap.17/vol.1; OJEC L 395, 30.12.1989), Council Directive 90/604/EEC of 8 November 1990 (Extraordinary issue of OJ EU, chap.17/vol.1; OJEC L 317, 16.11.1990), Council Directive 90/605/EEC of 8 November 1990 (Extraordinary issue of OJ EU, chap.17/zv.1; OJEC L 317, 16.11.1990), Council Directive 94/8/EC of 21 March 1994 (Extraordinary issue of OJ EU, chap.17/vol.1; OJEC L 82, 25.3.1994), Council Directive 1999/60/EC of 17 June 1999 (OJEC L 162, 26.6.1999), Directive of the European Parliament and Council 2001/65/EC of  27 September 2001 (Extraordinary issue of OJ EU, chap.17/vol.1; OJEC L 283, 27.10.2001), Council Directive 2003/38/EC of 13 May 2003 (Extraordinary issue of OJ EU, chap.17/vol.1; OJEU L 120, 15.5.2003), Directive of the European Parliament and Council 2003/51/EC of June 18, 2003 (Extraordinary issue of OJ EU, chap.17/vol.1; OJEU L 178, 17.7.2003), Directive of the European Parliament and Council 2006/43/EC of 17 May 2006 (OJEU L 157, 9.6.2006), Directive of the European Parliament and Council 2006/46/EC of 14 June 2006 (OJEU L 224, 16.8.2006) and Directive of the European Parliament and Council 2006/99/EC of 20 November 2006 (OJEU L 363, 20.12.2006).
2.	Seventh Council Directive 83/349/EEC of 13 June 1983 based on the Article 54 (3) (g) of the Treaty on consolidated accounts (Extraordinary issue of OJ EU, chap.17/vol.1; OJEC L 193, 18.7.1983) as amended by Council Directive 89/666/EEC of 21 December 1989 (Extraordinary issue of OJ EU, chap.17/vol.1; OJEC L 395, 30.12.1989), Council Directive 90/604/EEC of 8 November 1990 (Extraordinary issue of OJ EU, chap.17/vol.1; OJEC L 317, 16.11.1990), Council Directive 90/605/EEC of 8 November 1990 (Extraordinary issue of OJ EU, chap.17/vol.1; OJEC L 317, 16.11.1990), Directive of the European Parliament and Council 2001/65/EC of 27 September 2001 (Extraordinary issue of OJ EU, chap.17/ vol.1; OJEC L 283, 27.10.2001), directives of the European Parliament and Council 2003/51/EC of 18 June 2003 (Extraordinary issue of OJ EU, chap.17/ vol.1; OJEU L 178, 7.7.2003), Directive of the European Parliament and Council 2006/43/EC of 17 May 2006 (OJEU L 157, 9.6.2006), Directive of the European Parliament and Council 2006/46/EC of 14 June 2006 (OJEU L 224, 16.8.2006) and Directive of the European Parliament and Council 2006/99/EC of 20 November 2006 (OJEU L 363, 20.12.2006).
3.	Council Directive 86/635/EEC of 8 December 1986 on the annual accounts and consolidated accounts of banks and other financial institutions   (Extraordinary issue of OJ EU, chap.6/ vol.1; OJEC L 372, 31.12.1986) as amended by Directive of the European Parliament and Council 2001/65/EC of  27 September 2001 (Extraordinary issue of OJ EU, chap.17/ vol.1; OJEC L 283, 27.10.2001), Directive of the European Parliament and Council 2003/51/EC of 18 June 2003 (Extraordinary issue of OJ EU, chap.17/ vol.1; OJEU L 178, 17.7.2003) and Directive of the European Parliament and Council 2006/46/EC of 14 June 2006 (OJEU L 224, 16.8.2006).
4.	Council Directive 91/674/EEC of 19 December 1991 on the annual accounts and consolidated accounts of insurance undertakings (Extraordinary issue of OJ EU, chap.6/vol.1; OJES L 374, 31.12.1991) as amended by Directive of the European Parliament and Council 2003/51/EC of 18 June 2003 (Extraordinary issue of OJ EU, chap.17/ vol.1; OJEU L 178, 17.7.2003) and Directive of the European Parliament and Council 2006/46/EC of 14 June 2006 (OJ EU L 224, 16.8.2006).
5.	Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids (Extraordinary issue of OJ EU, chap.17/ vol 2; OJ EU L 142, 30.4.2004) – Art. 10(1), Art.10 (3), Art. 21.
6.	Directive 2006/43/EC of the European Parliament and of the Council  of 17 May 2006 on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC (OJ EU L 157, 9.6.2006) – Art. 2(13), Article 37, Article 38 (1), Article 41, Article 49, Article 53. 
7.	Commission Directive 2006/111/EC of 16 November 2006 on the transparency of financial relations between Member States and public undertakings as well as on financial transparency within certain undertakings (codified version) (OJEU L 318, 17.11.2006) – Art. 1 through 4, Article 6, Article 8.
8.	Directive 2009/49/EC of the European Parliament and of the Council of 18 June 2009 amending Council Directives 78/660/EEC and 83/349/EEC as regards certain disclosure requirements for medium-sized companies and the obligation to draw up consolidated accounts (OJ L 164, 26.6.2009).
9.	Directive 2009/101/EC of the European Parliament and of the Council of 16 September 2009 on the coordination of safeguards which, for the protection of interests of members and third parties, are required by Member States of companies within the meaning of the second paragraph of Article 48 of the Treaty, with a view to making such safeguards equivalent (OJ EU L 258, 1. 10. 2009).
10.	Directive 2012/6/EU of the European Parliament and of the Council of 14 March 2012 amending Council Directive 78/660/EEC on the annual accounts of certain types of companies as regards micro-entities (OJ L 81, 21.3.2012).
11.	Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29 June 2013).
12.	Directive 2014/95/EU of the European Parliament and of the Council as of 22 October 2014 amending Directive 2013/34/EU as regards the disclosure of non-financial and diversity information by certain large undertakings and groups (OJ L 330, 15 November 2014).
13.	Council Directive 2014/102/EU as of 7 November 2014 adapting Directive 2013/34/EU of the European Parliament and of the Council on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, by reason of the accession of the Republic of Croatia (OJ L 334, 21 November 2014).