The Slovak government completed implementation of the EAR on 11 November 2015, when the National Council of the Slovak Republic adopted its act on Statutory Audit and Accounting. The new rules will become effective on 17 June 2016.

The main elements of Slovakia’s transposition law are the following:

  • Mandatory audit firm rotation must take place every 10 years.The audit mandate can be extended for another 10 years after an open and competitive tender has been carried out.
  • In the case of joint audit, the rotation period can be extended to 24 years.
  • Key audit partners must rotate every 5 years.
  • No additional items have been added to the EU-list of prohibited non-audit services.
  • Slovakia has made use of its option to allow tax and valuation services at the same time that audit services are being provided, with certain restrictions (see information sheet).
  • The fee cap for non-audit services is maintained at 70 %, as established in the EU legislation.

For a more detailed overview of Slovakia’s implementation measures, please consult our information sheet.


Information Sheet - The Slovak Audit Reform Law