• Service: Audit, Accounting Rules Code of Obligations
  • Type: Business and industry issue, Regulatory update
  • Date: 6/19/2014

New Accounting Law - Illustrative Financial Statements 

With this publication KPMG supports the adoption of the new provisions relating to the presentation of financial statements. The illustrative financial statements represents a possible financial reporting for the year 2016, the first fiscal year after the adoption of the new accounting law.
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On 1 January 2013 the new accounting law, agreed by Parliament on 23 December 2011, entered into force. Companies still have time to adapt, as the regulations will only come into effect as of financial year 2015; with respect to the group consolidated financial statement, as of the financial year 2016.


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