The Regulations came into force on November 9th 2015.
The Regulations determine the way of conducting a self-assessment of the financial management and control system operations of non-profit organizations, as well as stipulate the methodology of a financial plan drafting, amendments and additions, as well as the manner and conditions of the financial plan execution.
It is important to emphasize that a non-profit organization does not have to change the provisions of its status in order to harmonize with the provisions of these Regulations, but it can bring general acts. Non-profit organizations draw up a financial plan for 2016 in line with the provisions of the Law on Financial Business and Accounting of Non-Profit Organizations (Article 5 of the Law).
Non-profit organizations draw up the first financial plan in line with the provisions of these Regulations for the period from January 1
st to December 31
st 2017. The self-assessment from the Article 4 of the Regulations, i.e. filling in a Questionnaire from the Article 5 and drafting an action plan from the Article 6, are to be carried out for the first time for the year 2015, no later than 30 days from the deadline determined for submitting annual financial reports for 2015.
The text of the Regulations can be found
here.
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