Based on preliminary information from the Ministry of Finance of the Slovak Republic, an amendment to Act No. 431/2022 Coll. on Accounting is currently being prepared, which will bring the Slovak law even closer to the European regulations. The aim of the proposed change is to improve the quality of information disclosed in the annual reports of selected accounting units regarding their environmental, social and governance impacts (sustainability information). All this information should also be given a uniform electronic reporting format in line with European standards and with the obligation of uniform assurance of this information by an independent party.
In connection with this change, a modification of the requirements for the professional education of auditors and the systematics of their work is also being planned. At present, these requirements for auditors are not mandated by the Audit Act or the Accounting Act and are therefore not further regulated. In view of the planned changes to the mandatory disclosure requirements for sustainability information, changes will need to be made not only to the aforementioned laws, but also to the Commercial Code.
The expected date for the start of the comment procedure for the amendment to the Accounting Act is May 2023.