Latest from The European Federation of Accountants and Auditors for SMEs (EFAA)

Source: EFAA   Foreword from the President - Salvador Marín   Dear Members and Friends of EFAA, As we all know too well, the whole world is currently in the middle of a global pandemic that has fundamentally changed the way we live and work, possibly forever and...

PAO response to COVID-19: The case of the Society of Certified Accountants and Auditors of Kosovo

March, 2020 - In January 2020 we were all hearing news that a new virus had emerged in China and that the Chinese government was taking various measures to contain it and prevent the spread outside of the Wuhan province. While we were all hoping that COVID-19 would not cause many casualties in...

Effect of COVID - 19 to KOSOVOs Economy and Financial Reporting System

I. Introduction The COVID-19 pandemic presents not only a significant threat to human health but also a major shock to the European and global economy. Most European countries have taken quarantine and lock-down measures, to prevent a wider spread of the pandemic which could lead to the collapse...

COVID 19: Statistics in the Western Balkans - Edition III

Video prepared by: PhD. Arbër Hoti To access the Video, click HERE

COVID 19: Statistics in the Western Balkans - Edition II

Video prepared by: PhD. Arbër Hoti To access the Video, click HERE

COVID 19: Statistics in the Western Balkans - Edition I

Video prepared by: PhD. Arbër Hoti To access the Video, click HERE

How SMPs are Supporting SME Clients Through the Crisis

Source: EFAA EFAA recognizes that while SMPs are heavily impacted by the coronavirus they are an invaluable source of guidance and expertise on financial management for SMEs. Many if not most SMEs are under enormous financial stress right now, and likely to be for some time, and so timely advice...

EFAA Calls for Urgent Action to Support SMEs and SMPs

Source: EFAA EFAA has urged EU institutions and national governments to take urgent action to protect and support SMEs during this time of crisis. While the first and foremost concern and priority is to protect citizens health, EFAA stresses that SMEs will be the most severely impacted by the...

Guidance for SMPs Coping with the Crisis

Source: EFAA SMPs are also struggling to cope with the crisis and need guidance on how to sustain their practice and operate as normally as possible. Here is some free guidance for SMPs sourced from around Europe and the rest of the world: COVID-19 Resources from IFAC’s Network...

Impact on Reporting Entities and Auditors

Source: EFAA This article looks at the impact on reporting entities and auditors and how authorities are responding to the coronavirus crisis. The article focuses mainly on Asian countries that were first impacted. There may be lessons for European countries that are currently bearing the brunt...

Getting government financial management systems COVID-19 ready

Article published by: World Bank Blogs So far, many developing countries have been experiencing less impact from COVID-19 than more developed countries. This gives them a narrow window of opportunity to get government systems prepared for an effective response in terms of containment and...

Tips for Making Virtual Connections Work for You

Article written by: Alta Prinsloo - Executive Director with primary responsibility for IFAC’s new approach to advancing education for future-ready professional accountants Source: IFAC Virtual meetings have long been a relatively cheap and carbon-friendly alternative to in-person...

Ekonomia në kohë pandemie

Implementation of International Financial Reporting Standards (IFRS) during and after the COVID-19 pandemic

Article written by: Phd. Edona Perjuci Today we are witnessing that the situation created by the COVID-19 pandemic is greatly affecting the overall global economic development and stability of financial markets. In this situation, the economic consequences, beside from the fact that they have...

Guidance on audit issues arising from the Covid-19 (Coronavirus) pandemic

Article published by: The Financial Reporting Council (FRC) AUDIT ISSUES ARISING FROM THE CONSEQUENCES OF THE COVID-19 (CORONAVIRUS) PANDEMIC   COVID-19 is causing a shock to the global economy that could prove sharp and large but should be temporary* (Bank of England). ...

Goditja ekonomike pas pandemisë Covid-19

ESMA issues guidance on accounting implications of COVID-19

Article published by: The European Securities and Markets Authority (ESMA) The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued a Public Statement on some accounting implications of the economic support and relief measures adopted by EU...

Implikimet e koronavirusit COVID-19 në çështjet e raportimit financiar

Financial Management Tools to Help SMEs Weather the Crisis

Many tools and guidance are available to help SMEs manage their finances and right now financial management is crucial to the survival of many SMEs. Here are a few such tools: SME Financial Management Toolkit This SME Financial Management Toolkit is an online financial management tool...

What boards can do to confront the coronavirus

Article written by: Sabine Vollmer - FM magazine senior editor Corporate boards have important duties to perform as responses to the new coronavirus, known as COVID-19, ripple around the world, disrupting supply chains, upsetting consumer spending, and placing anybody from political...

Coronavirus Crisis: Implications on Reporting and Auditing

Published article by: Accountancy Europe The coronavirus (SARS-CoV-19) pandemic continues to spread in many countries, including in Europe. The World Health Organization (WHO) and national authorities can be consulted for the health implications on people. This crisis also has...

Coronavirus: Business must be a player, not spectator

Article written by: Richard Edelman - CEO of Edelman and Dr. David Nabarro - The World Health Organization Special Envoy for COVID-19. As the world confronts the spread of the new Coronavirus, people seek greater clarity on the risks they can expect to face and how to best minimize them....

If Your PAO Isn’t Working Remotely Yet, Use This Critical Time to Plan

Article written by:  Joseph Bryson - Director, Quality & Development Soruce: IFAC A week ago, I would have told you that unprecedented times is an expression I think is overkill. I would have told you that I’m confident things will get back to normal soon. My tune has...

NOTICE

Notice - The Ministry of Finance and Transfers decides on the extension of the deadline for submission of declarations and payment of taxes

The Ministry of Finance and Transfers has published the Decision to extend until April 30, 2020 the deadline for submission of tax returns, reports and payments, as well as the treatment and decision regarding refunds, related to the implementation of applicable tax legislation. Please click...

Notice - The Ministry of Finance and Transfers publishes the Decision to extend the deadline until June 30, 2020 for the submission of statements to the KCFR

The Ministry of Finance and Transfers has published the Decision to postpone the deadline until June 30, 2020 for the submission of statements and financial statements of all enterprises to the Kosovo Council for Financial Reporting(KCFR). Please click HERE to access the DECISION

Coronavirus: 4 tips to work remotely

The coronavirus outbreak is consuming headlines. Many employers are preparing for possible disruptions that could affect business in the long-term, including labour shortages, transportation issues, reduced working hours and low consumer traffic. Fortunately, many businesses are already taking...

SCAAK PROPOSES SUPPORT MEASURES FOR BUSINESSES AND NON-GOVERNMENTAL ORGANIZATIONS

SCAAK represents more than 7,000 members who serve a large number of small and medium enterprises in Kosovo. Small and medium-sized enterprises will be most affected by the economic consequences of measures taken by the Government to protect public health from COVID-19. We call on the...

SCAAK: Notice of suspension of activities

Dear members, Following the decision of the Government of the Republic of Kosovo to take preventive measures against the spread of Covid-19 virus, including the termination of the educational process at all levels until 27/03/2020, SCAAK informs you that starting from 12/03/2020 all trainings...