THE PRESIDENT OF MBA, DR. MAJA STEVKOVA – SHTERIEVA, PANELIST AT THE FIRST REGIONAL CONFERENCE OF ACCOUNTANTS AND CHARTERED ACCOUNTANTS IN NORTH MACEDONIA
In the organization of the Institute of Accountants and Chartered Accountants of the Republic of North Macedonia, the First Regional Conference of Accountants and Chartered Accountants in the Republic of North Macedonia was held today, under the title Accounting in the region – trends, challenges, standards and perspectives, in which the president of the Macedonian Banking Association, Dr. Maja Stevkova – Shterieva participated as a panelist.
In her presentation, the president gave strong support to the processes for the development of the accounting profession and emphasized the importance of the correct implementation of international accounting standards (IFRS) from two aspects:
- Implementation of IFRS in financial statements of bank clients, and
- Implementation of IFRS and objective presentation of financial statements by banks
Dr. Stevkova Shterieva referred to the importance of the accounting profession and the role of accountants for complete, accurate and precise recording of business events in the books of economic agents, which would contribute to a comprehensive presentation of all business ventures by the companies, the significance of their reports for the realization of the credit function of the banks. She welcomed the initiative to hold a Regional Conference that will emphasize the role and importance of this profession. Speaking about the experiences of the banks, she emphasized the importance of reporting according to IFRS, not only for the banks but also for the clients of the banks.
From the banks point of view, she informed that the banking sector is one of the most regulated areas in the country in terms of the implementation and objective presentation of financial statements in accordance with the International Standards for Financial Reporting, primarily due to the cooperation with international institutions, the capital investments of the member countries of European Union, i.e. reporting on a group basis and the legal obligations towards the National Bank in accordance with the Law on the National Bank and the Decision on the methodology for recording and valuation of accounting items and for the preparation of financial statements, whose valid set of financial statements was in use since 2008.
The conference was opened by the President of IACA, Vesna Prentoska, the President of the Council for the Advancement and Oversight of the Accounting Profession, Goran Rafailovski and the Minister of Finance, Dr. Fatmir Besimi. From their side, it was informed that the translation and signing of the international accounting standards is in the final stage and is expected to be published during the first half of April this year, with an application deadline of 01.01.2025. The conference had participation from representatives from state institutions, the Public Revenue Office and the Central Registry, a representative of IFAC – the International Federation of Accountants, representatives from institutes and associations of accountants from the country and the region, representatives of the business community, the academic community, and the National Bank was represented by Maria Efremova – Advisor to the Governor of the National Bank.
