Modern Aspects Regarding the Organising of Accountancy and Audit in Bulgarian Republic

Author:Stoian STOIANOV, Ph. D.

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Keywords:Accounting System, Independent financial audit, Act on Accounting, Independent Financial Audit Law, Legea auditului financiar independent, International Financial Reporting Standards, International Standards on Auditing, Commission on Public Supervision

Abstract:
In placing increased emphasis on good accounting practice, the Bulgaria government began providing resources on accounting and auditing, such as guidance documents, case studies, and benchmarking studies. Organization of the national accounting system and the independent financial audit associated with the Act on Accounting, Independent Financial Audit Law, аplicable accounting and auditing standards and the organization of the accounting system in the separate company. This article discusses those factors and why was the accounting reform needed in Bulgaria.

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