In the field of auditing services, our recommended Partner is International Consulting Team Audit Kft., with Krisztina Szaller as auditor.
Companies are required to display information in their annual/simplified accounts, in accordance with the requirements of the Accounting Act, either in forints or in a foreign currency as specified in their deed of foundation.
Non-resident businesses as well as any local company can decide to prepare their annual or simplified accounts in euros if the decision to change the accounting policy is taken before the first day of the fiscal year and the business has designated the euro as its accounting currency in its deed of foundation.
On the date of the change (balance sheet roll-over date) an annual account/simplified account must be prepared in accordance with the provisions of the Accounting Act in the currency used preceding the change. This report must be placed in escrow and made public. The data in the completed accounts, as adopted by the body authorised to approve it in accordance with the statutory provisions, must then be converted into the newly chosen currency. On the basis of this conversion a separate balance sheet must be prepared in the currency set out in the deed of foundation, and then the books must be opened in this currency on the basis of this separate balance sheet that has been certified by the auditor, as of the day following the change.
Non-resident businesses as well as any local company can decide to prepare their annual or simplified accounts in euros if the decision to change the accounting policy is taken before the first day of the fiscal year and the business has designated the euro as its accounting currency in its deed of foundation.
On the date of the change (balance sheet roll-over date) an annual account/simplified account must be prepared in accordance with the provisions of the Accounting Act in the currency used preceding the change. This report must be placed in escrow and made public. The data in the completed accounts, as adopted by the body authorised to approve it in accordance with the statutory provisions, must then be converted into the newly chosen currency. On the basis of this conversion a separate balance sheet must be prepared in the currency set out in the deed of foundation, and then the books must be opened in this currency on the basis of this separate balance sheet that has been certified by the auditor, as of the day following the change.
