According to this law, individuals performing activities which product income, as defined by the Tax Code, and whose incomes are determined in real system, are bound to lead the accounting evidence based on simple entry accounting rules or, at their option, based on rules of double entry accounting in accordance with the accounting regulations issued in this regard, except where otherwise provided in the tax legislation.

It was also amended the article on the organization and management of the accounting, respectively that it is organized and managed, usually in separate compartments, led by the business director, chief accountant or another person authorized to perform this function. These people should have a degree in economics.

Under the new law published the person authorized to act as financial director or chief accountant means a person employed under the law, which has higher economic education, which is responsible for the conduct of the accounting of the entity.

In addition, if the annual financial statements of the mother company are presented for approval with the annual consolidated financial statements, the mother company may provide a single audit report on the annual financial statements submitted if the mother company is obliged to be audited.

When the mother company is obliged to also prepare and submit annual consolidated financial statements, the management report can be presented as a single report.

This law came into force on 05.06.2015 and, consequently, the Accounting Law no. 82/1991 will be amended and the articles will receive new numbers.