Montenegro flag Montenegro: Business Environment

Accounting and accounting rules in Montenegro

Accounting Rules

Tax Year
The tax year corresponds to the calendar year.
Accounting Standards
Montenegrin accounting is based on the International Financial Reporting Standards (IFRS).
Accounting Regulation Bodies
Council for Accounting and Auditing
Accounting Reports
Accounting structures must present balance sheets and profit and loss accounts.
Publication Requirements
According to the Law on accounting and audit, all legal entities must submit their financial statements annually. According to the Law on business organizations, joint stock companies must submit their financial report with the audit report. Only foreign companies do not have to submit a financial report.
Professional Accountancy Bodies
Association of Montenegrin accountants and auditors
Certification and Auditing
An audit may be performed by a person who is a certified accountant. You can contact the Association of Montenegrin accountants and auditors or an external auditor: Deloitte, KPMG, PricewaterhouseCoopers.
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Latest Update: July 2022

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