Legal entities and entrepreneurs shall keep books of account, prepare, present, submit
and disclose financial statements in compliance with the legislation, professional and
internal rules.
The legislation shall mean this Law and the by-laws relating to the compliance with this
Law.
The professional rules shall mean the Code of Ethics for Professional Accountants, the
International Accounting Standards (IAS), the International Standards of Auditing (ISA),
the national standard governing the requirements for professional development of
accountants and auditors and acquiring of professional titles, the national standard
applied to accounting software, and other national standards established in accordance
with the statements issued by the governing bodies of the International Federation of
Accountants (IFAC).
The internal rules shall mean the internal general rules containing specific principles,
instructions and guidelines for keeping books of account, preparing, presenting,