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Service 04 · Certified accountant

Signing of financial statements by a certified accountant

From class II micro entities upwards, the owner's signature alone is not enough. We tell you who must sign the statements for your category, and provide the certified accountant's signature.

Why the signature is not a formality

By signing, the signatories take responsibility that the statements present the company's financial position fairly. The statements are filed with the KCFR and published; banks, donors, authorities and partners read them there. If the statements were prepared or signed by someone who is not on the public register of certified accountants, where the law requires one, the filing may be returned.

Who signs, by category

The category is set under Article 5 of Law No. 06/L-032, on three criteria measured on the last day of the previous year: total assets, net turnover and the average number of employees. Micro entities are further split into three classes by turnover, under the KCFR instructions (Article 9).

CategoryWhat is preparedWho signs
Micro, class IIncome statement, on a cash or accrual basisThe chief executive or the owner
Micro, class IIStatement of financial position and income statement, on an accrual basisThe owner or director, together with the finance director or a certified accountant
Micro, class IIIFull statements under IFRS for SMEsThe chief executive and the finance director; if the latter is not certified, a certified accountant as well
SmallStatements under IFRS for SMEsThe chief or general executive and the finance director or chief financial officer
Medium and groupsStatements under IFRS for SMEsThe same, and/or the certified accountant (Article 8, paragraph 2)
LargeStatements under full IAS/IFRSThe chief executive and the chief financial officer; if the latter is not a certified accountant, a certified accountant as well

The KCFR company-size calculator gives your category and class, who signs and the filing deadline.

Who counts as a certified accountant

The law defines a certified accountant as a person qualified by a professional association licensed by the KCFR and a member in good standing of that association (Article 3). Certification requires a university degree, three years of accounting experience and the certification programme (Article 29). Experience alone does not give the title: it takes certification and active membership.

How we do it

  1. We establish the category and class from last year's figures, so it is clear which statements are prepared and who signs.
  2. We prepare or check the statements against the accounting records and bank statements before signing.
  3. We sign as certified accountant, together with the director or owner. Every member of our staff is a certified accountant.
  4. The statements are filed with the KCFR on time.

For clients of our accounting service, all of this is part of the year-end close.

When a signature is not enough

A signature does not replace an auditor's engagement. Small and medium-sized companies with turnover up to EUR 4,000,000 also need a review report, while those above that figure and large companies need an audit opinion.

Who signs the financial statements of a micro entity?

It depends on the class. In class I, with turnover below EUR 50,000, the chief executive or the owner signs. In class II, from EUR 50,000 to 300,000, the owner or director signs together with the finance director or a certified accountant. In class III, above EUR 300,000, the chief executive and the finance director sign, and if the latter is not certified, a certified accountant as well.

When is a certified accountant's signature required?

For class II micro entities where the finance director does not sign, and for class III and large companies where the finance director is not certified. For medium-sized companies and groups, Article 8 of Law No. 06/L-032 provides for the certified accountant as a signatory alongside or instead of the finance director.

Who counts as a certified accountant in Kosovo?

A person qualified as a certified accountant by an association licensed by the KCFR and a member in good standing of that association (Article 3 of Law No. 06/L-032). Certification requires a university degree, three years of accounting experience and the certification programme (Article 29).

Does the signature replace a review or an audit?

No. Small and medium-sized companies with turnover up to EUR 4,000,000 also need a review report from an independent auditor, while those above that turnover and large companies need an audit opinion. Only micro entities have neither a review nor an audit obligation.

Who must sign your statements?

Tell us last year's turnover and headcount. We will tell you which class you fall into and which signatures you need.

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