Regulatory Alerts2023-01-01
Law on Auditing of Montenegro
The Ministry of Finance of Montenegro issued this law to regulate the conditions for conducting financial statement audits and the licensing of statutory auditors and audit firms. It mandates compliance with International Standards on Auditing and enforces strict independence, ethics, and conflict-of-interest rules for audit professionals. The legislation establishes a public register for auditors and firms, outlines procedures for granting and withdrawing licenses, and requires compulsory liability insurance and continuing professional education.
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