Under the new bill, the work of auditing agencies will be overseen by the Croatian Chamber of Auditors while the Chamber will in turn be under the supervision of the Ministry of Finance.
The bill says that shareholding and limited liability companies with revenues exceeding 30 million kuna (approximately 4 million euros), banks, insurance companies, pension and investment funds will be subject to an audit once a year.
It also lays down conditions under which foreign auditing agencies may do business in Croatia, including that have to set up an office in Croatia and know the Croatian language and laws relating to bookkeeping.
Deputies also discussed the final text of the Bookkeeping Bill, which introduces international booking standards. The bill was supported by the ruling Croatian Democratic Union (HDZ) and the Croatian Party of Rights (HSP).