Amended Accountancy Law passed

The Sejm has approved the amended Accountancy Bill, a move aimed at a djusting law to EU regulations. The new law defines the duties of branches and dependent companies of foreign financial institutions operating in Poland with regards to publishing financial information such as annual reports. At present, branches of foreign companies are obliged to publish their annual financial reports, while EU regulations annul this provision. However, now they will have to publish financial reports of their mother companies in Polish, with the company authorities being responsible for a proper translation and publication of the documents in Monitor Polski. The aforementioned report should be prepared in accordance with the regulations in force in the country in which the main company operates. (Parkiet, p. 1; www.onet.pl) J.K.