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Estonia · Law · SE

313

Act on Amendments to the Act on Auditor Activities, the Accounting Act and the Securities Market Act

avaldatud riigiteatajasEstonia· Riigikogu· ET

Introduced

11 January 2021

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AVALDATUD_RIIGITEATAJAS

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Source updated

5 May 2021

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Summary

Eelnõu algatamise tingis Euroopa Komisjoni hinnang, et Eesti ei ole Euroopa Parlamendi ja nõukogu vastava direktiivi teatavat liiki ettevõtjate aruandeaasta finantsaruannete, konsolideeritud finantsaruannete ja nendega seotud aruannete kohta käivaid sätteid nõuetekohaselt üle võtnud. The bill specifies the duties of the auditor when auditing a medium-sized enterprise, a large enterprise and a public interest entity. The auditor is obliged from now on confirm in the audit report whether the activity report complies with the financial report and the applicable requirements of the law. The purpose of the change is to strengthen the confidence of investors and other interested parties in the information published in the company's activity report. In addition, the requirements regarding the information that a large enterprise of a public interest entity with more than 500 employees must reflect in its activity report are specified. Similar changes are also made to the consolidated reports in terms of The aim of the changes is to better identify sustainability risks and increase investor and consumer confidence. As a result of the bill, the audit fee for medium and large enterprises will become slightly more expensive, and the amount of reporting obligations of some large enterprises will increase to a small extent.

Machine translation from Estonian. The official text remains authoritative.

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