The law is changing accountants’ obligations again: service prices expected to rise by 30%

The draft of the new Accounting Law introduces significant changes that will affect both companies and accounting agencies. Among the key amendments are higher thresholds for company classification, a new method for calculating revenue, and additional obligations for accounting service providers.

The proposed changes increase the thresholds for classifying legal entities. Instead of the current limits of EUR 700,000, EUR 8 million, and EUR 40 million, the new thresholds would be EUR 900,000, EUR 10 million, and EUR 50 million. At the same time, the concept of net operating revenue is introduced, covering only income generated from the sale of goods and services, excluding subsidies, inventory changes, and other accounting categories. In practice, this could move some companies into a lower category and reduce their administrative obligations.

The draft also extends the deadlines for submitting documentation and bookkeeping from five to eight working days, while increasing professional responsibility in financial reporting, which will now need to be signed not only by the legal representative but also by the person responsible for preparing the reports.

Particular attention has been drawn to the new obligations for accounting agencies, including additional controls, mandatory training, professional liability insurance, and stricter supervision, following a model similar to the audit profession. Industry professionals warn that such measures could further increase costs in a sector already facing staff shortages, growing administrative burdens, and constant regulatory changes.

Despite these pressures, Serbia’s accounting sector continues to grow. The number of active companies increased from 7,169 in 2022 to more than 8,100 in 2025. However, the number of newly established agencies has declined significantly — from 525 new companies in 2022 to only 327 in 2025, indicating a slowdown in market growth.

Financial indicators show that the sector remains profitable. Total industry profit in 2024 amounted to approximately RSD 4.5 billion, while overall losses continued to decline. Nevertheless, increasing competition, higher operating costs, and regulatory pressure are having a growing impact on small accounting agencies and sole proprietors, who make up the majority of the sector.