Statement by the Director

Ladies and gentlemen,

The Auditing Act (Official Gazette RS No. 65/08, hereinafter ZRev-2), that entered into force July 15th 2008, was an important stepping stone in the field of auditing in Slovenia. ZRev-2 helped formally establish the Agency for Public Oversight of Auditing (hereinafter Agency) that became operations on March 1st 2009.

The system for public supervision over the quality of the work of auditing companies and certified auditors is extremely important since the trust and respectability of the auditing profession had to be restored due to a number of larger accounting scandals that occurred in the internationally in the past. Public oversight of the auditing quality is meant to be the institute that would help investors, shareholders, creditors and other interested groups rely on the audited accounting statements.

As the director of the Agency I will strive to make the fundamental mission of the Agency the performance of public supervision and to represent public interest since external and independent provision of auditing quality is essential for regulated company operations, especially for public companies, which has a positive impact on the financial markets and can contribute to greater financial stability. This allows us to increase the trust into the accuracy of the accounting records of companies, especially of those that are listed on the stock exchange.

The principal rule of the Agency for representation of the public interest is in providing efficient supervision of the certified auditors, auditing companied, authorizes reviewers and over the work of the Slovenian Institute of Auditors, especially when the Institute has public authorization.

Priority commitments of the Agency are to operate for the benefit of the public, to conduct quality public supervision over auditing, to observe transparency of operations and to respect the moral and ethical values with the purpose of becoming an efficient supervisor of the auditing profession.

Welcome to the Agency's website.

Mojca Majič, M.Sc.