Accounting Act 2014
| Basic data | |
|---|---|
| Title: | Accounting Act 2014 |
| Long title: | Federal Law on Accounting Professions |
| Abbreviation: | BiBuG 2014 |
| Type: | Federal law |
| Scope: | Republic of Austria |
| Legal matter: | Other commercial law |
| Reference: | Federal Law Gazette I No. 191/2013 |
| Date of law: | 11th September 2013 |
| Effective date: | January 1, 2014 |
| Last change: | BGBl. I No. 46/2019 |
| Legal text: | Accounting Act 2014 |
| Please note the note on the applicable legal version ! | |
The 2014 Accounting Act (abbreviated BiBuG 2014 ) regulates the profession of self-employed accountant in Austria .
The law came into force on January 1, 2014 and replaced the 2006 accounting law that had been in force until then. The three occupations of accountant as well as accountant and payroll processor were created; the previous occupations of commercial and self-employed accountants are being phased out.
Taking up the profession is subject to a public appointment by the accounting authority (the President of the Austrian Chamber of Commerce in the transferred area of responsibility) and requires the completion of a specialist examination and proof of at least three years of activity in accounting. Membership in the Chamber of Commerce (Information and Consulting Division, Professional Association of Management Consulting, Accounting and Information Technology) is mandatory for the accountant; before the BiBuG came into force on January 1, 2014, there was a choice between the Chamber of Commerce and the Chamber of Tax Advisors and Auditors . The self-employed accountant in Austria has extensive professional rights in accounting and consulting, which in Germany are predominantly reserved rights of tax advisors. After five years as an accountant, it is possible to take the tax advisor examination at the Chamber of Tax Advisors and Auditors.
The independent occupations accountants and payroll accountant have against the accountants only limited professional privileges. Those entitled to practice are legally obliged to undergo specialist further training and to take out financial loss liability insurance and have the right to refuse a witness. With the coming into force of the Accounting Act 2014, insurance is also mandatory for accountants and payroll administrators.
