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Amendment has been made to the Order No. N-16 of the Head of the SARAS, dated 25 September 2017, on the Approval of Professional Certification Standard and the Rule for the Recognition of Certification Programs and Examination Processes

As it is known, Article 24 of the current Order No. N-16 of the Head of SARAS, dated 25 September 2017, on the Approval of the Professional Certification Standard and the Rule for the Recognition of Certification Programs and Examination Processes (Appendix N1) stipulates that until 1 January 2025 professional organizations shall recognize individual disciplines (subjects) offered by the entities providing educational activities in the field of business administration within the framework of accounting and auditing, management, finance and economics programs. For the purposes of this paragraph, a professional organization is authorized, within the framework of its certification program and on the basis of the criteria established by it, to ensure the recognition of disciplines (subjects) offered by entities providing educational activities only at the basic competence level.

The amendment postpones the deadline for the recognition of subjects offered by entities providing educational activities until 1 January 2026. 

At the same time, the preferential norms provided for in paragraphs 11, 21 and 22 of Article 24 of the same standard, which were in force until the end of 2024 (while the first paragraph expired at the end of 2023), have been removed from the current edition.