Deregulation of the accounting profession - what's new?
The amendment to the regulations in 2014 freed many professions - this means that from the entry into force of the new regulations, it is possible to occupy certain positions without additional formal requirements. Particular attention to deregulation should be paid by persons professionally engaged in bookkeeping or acquiring education in this field - the deregulation of the accounting profession has introduced significant changes in this respect.
Deregulation of the accounting profession - bookkeeping without additional powers
The change in the regulations was made on the basis of the Act on Facilitating Access to Performing Certain Regulated Professions of May 9, 2014. Its second tranche was published in the Journal of Laws on June 10, 2014.
What does the introduced deregulation of the accounting profession mean? Virtually everyone who has third party liability insurance can choose this form of activity. It is important that, within the accounting office, the books of accounts are kept by persons who have full legal capacity and have not been punished for economic offenses or crimes related to accounting or taxes. In line with deregulatory changes, Art. 76a of the Accounting Act of September 29, 1994 reads:
Art. 76a of the Accounting Act
1. Provision of bookkeeping services is an economic activity within the meaning of the Act of 6 March 2018 - Entrepreneurs' Law (Journal of Laws item 646), consisting in the provision of services in the scope of activities referred to in Art. 4 sec. 3 points 2-6.
3. The activities referred to in par. 1, may be performed by entrepreneurs, provided that the activities in this scope will be performed by persons who:
1) have full legal capacity,
2) have not been convicted by a final court judgment for an offense against the credibility of documents, property, economic turnover, trading in money and securities, for a fiscal offense and for offenses specified in Chapter 9.
In the context of bookkeeping, it is worth remembering that the deregulation also covered the profession of a tax advisor.
How has the deregulation of the accounting profession affected the accounting certificate?
As can be seen from the changes indicated above, a certificate issued by the Minister of Finance is no longer needed to practice as an accountant.
Before the deregulation of the accounting profession, the following persons were eligible to apply for an accounting certificate:
have had at least 3 years of practice in accounting, higher education in accounting or another economic faculty with a specialization in accounting or another, for which the study plan and curriculum met the requirements specified by the university authorities for the accounting specialization, in authorized organizational units, in accordance with with separate regulations, to award the academic degree of doctor of economic sciences,
had 3 years of practice in accounting and a master's degree in accounting or in another economic faculty with a specialization in accounting or other,
have had 2 years of practice in accounting and at least secondary education and passed the exam checking the qualifications of people applying for an accounting certificate.
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Meanwhile, deregulation resulted in the repeal of Art. 76b-g and 76i of the Accounting Act, thus abolishing the need to pass an exam or possess other qualifications as indicated above. The last certificates were issued to persons who applied for a certificate or an application to take the exam before the entry into force of the deregulation act - i.e. before August 10, 2014.