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2017, vol. 55, iss. 4-6, pp. 179-201
Audit in the process of adoption of pre-prepared plan of reorganization
University of Belgrade, Faculty of Economy
Keywords: extraordinary audit; extraordinary audit report; pre-prepared plan of reorganization
In Serbian bankruptcy law, there are two types of reorganization: reorganization plan and pre-prepared plan of reorganization - (PPPR). For our purpose of study PPPR is of significance. To be able to explain and understand the audit in the process of adoption of pre-prepared plan of reorganization, it was necessary to briefly explain PPPR, conceptual definition of audit and its types. In the context of this research is of a significant importance the division of audit on ordinary and extraordinary type. Ordinary audit stems from the general audit law and extraordinary audit from any bill, for example Bankruptcy Act in the process of adopting the PPPR. In addition to certain similarities, these two types of audit vary in number of elements, which makes them unique. For purpose of conducting the process of adoption of PPPR, applicant needs to engage an auditor to perform extraordinary audit and to generate extraordinary audit report. The above stated report represents a mandatory legal content of PPPR filed before the competent bankruptcy court. Extraordinary audit is carried out to identify any deviations from the facts shown in company records of the debtor, or to confirm that such deviations do not exist. Extraordinary report of independent auditor is a document that accompanies PPPR and must not be older than 90 days from the day of submission of pre-prepared plan to court. Regarding its content, the legislator requires that it include the review of all claims of creditors and the percentage of each of them in the appropriate class of the reorganization plan.


article language: Serbian
document type: unclassified
published in SCIndeks: 16/06/2017

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