Accounting

A decade ago, Greece was in the throes of a devastating debt crisis marked by years of austerity, hardship and unrest. Now, officials and investors say 2024 could be the year its rebound is finally complete.

The Greek economy is forecast to grow nearly 3% this year, approaching its pre-crisis size of 2009 and far outpacing the euro zone average of 0.8%.

The specialized prosecutor's office is initiating pre-trial proceedings to investigate an international organized criminal group set up to commit financial fraud, the investigation said. Under the prosecution's leadership, an international joint investigation team has been set up between Germany, Serbia, Greece and Bulgaria.

Ljubljana – Jorg Kristijan Petrovič, first deputy president of the Slovenian Court of Audit, has been put forward as Slovenia’s candidate for European Court of Auditors once again, after the parliamentary EU Affairs Committee turned down his nomination without debate in mid-October.

President of the Romanian Court of Accounts, Mihai Busuioc, and ambassador of the Kingdom of Denmark to Romania, Soren Jensen signed today in Bucharest a Memorandum of Understanding on identifying digital solutions to the supreme audit institution's needs related to its external public audit activity.

The Minister of Finance, Mr. Sinisa Mali announced that from January 1, 2022, all legal entities in the public sector will have the obligation to receive, store and issue electronic invoices; this obligation will be gradually introduced to the private sector for which electronic invoicing will be mandatory from January 1, 2023.

The field of accounting remains one of the strongest sectors of the economy. While other careers are seeing massive shifts due to changing job roles and the increasing use of technology, careers in the business world have remained relatively stable.

The legal framework planned for online accounting is in its final stage of preparation, Giorgos Pitsilis, chief of the Independent Authority for Public Revenue, said at the 11th Thessaloniki Tax Forum on Monday.

The finance ministry in the third quarter of 2019 will launch a pilot programme regarding the electronic declarations of invoices and companies' bookkeeping.

The aim is to create a framework for the mandatory electronic submission of invoices and bookkeeping for all businesses and freelance professionals, as of 1 January, 2020.

As of the last quarter of this year, the Independent Authority for Public Revenue is set to start piloting an online bookkeeping system for companies in a bid to spare Greek enterprises the hefty administrative costs of conventional bookkeeping that compromise their competitiveness, the authority's head Giorgos Pitsilis announced on Thursday.