IFRS APPLICATION AROUND THE WORLD

JURISDICTIONAL PROFILE: Slovenia

Disclaimer: The information in this Profile is for eneral !i"an#e onl$ an" ma$
#hane from time to time% &o! sho!l" not a#t on the information in this Profile' an" $o!
sho!l" o(tain s)e#ifi# )rofessional a"*i#e to hel) $o! in ma+in an$ "e#isions or in
ta+in an$ a#tion% If $o! (elie*e that the information has #hane" or is in#orre#t'
)lease #onta#t !s at ifrsa))li#ation,ifrs%or %
This Profile has (een )re)are" ($ the IFRS Fo!n"ation (ase" on information from
*ario!s so!r#es% The startin )oint -as the ans-ers )ro*i"e" ($ stan"ar".settin an"
other rele*ant (o"ies in res)onse to a s!r*e$ that the Fo!n"ation #on"!#te" on the
a))li#ation of IFRS aro!n" the -orl" (et-een A!!st an" De#em(er /01/% The
Fo!n"ation "rafte" the )rofile an" in*ite" the res)on"ents to the s!r*e$ an" others
2in#l!"in re!lators an" international a!"it firms3 to re*ie- the "rafts' an" their
#omments are refle#te"%
Profile last !)"ate" 4 Se)tem(er /015
PARTICIPANT IN THE IFRS FOUNDATION SURVEY ON APPLICATION OF IFRS
Oranisation Slo*ensi+ Instit!t 6a Re*i6i7o 2SIR3
8Slo*enian Instit!te of A!"itors9
Role of the oranisation The Com)anies A#t 2:;D.13 re<!ires
that Slo*enian A##o!ntin Stan"ar"s are "e*elo)e" ($
SIR -ith a))ro*al of =inister of Finan#e an" =inister of
E#onomi# De*elo)ment an" Te#hnolo$% When
a))ro*al of (oth ministries is o(taine" a stan"ar" m!st
(e )!(lishe" in Official Gazette in Slo*enia% The A#t
re<!ires that Slo*enian A##o!ntin Stan"ar"s >shall
trans)ose the #ontent of Dire#ti*e
?@A440AEEC an" Dire#ti*e @5A5BCAEEC 8the EU
A##o!ntin Dire#ti*es9 an" their #on#e)t shall not (e
#ontrar$ to International Finan#ial Re)ortin
Stan"ar"sD% The stan"ar"s are a*aila(le here in
Slo*ene: htt):AA---%si. re*i6i7a%siA)!(li+a#i7eAin"eE%)h)
We(sites
SIR: htt):AA---%si.re*i6i7a%siA
=inistr$ of E#onomi# De*elo)ment an" Te#hnolo$:
htt):AA---%mrt%o*
%siAenA
Email #onta#t info,si.re*i6i7a%si
Copyright IFRS Foundation
1
COMMITMENT TO LO!AL FINANCIAL REPORTIN STANDARDS
Has the 7!ris"i#tion ma"e a
)!(li# #ommitment in s!))ort
of mo*in to-ar"s a sinle
set of hih <!alit$ lo(al
a##o!ntin stan"ar"sF
&es%
Refer to the IAS Re!lation a"o)te" ($ the E!ro)ean
Union in /00/:
htt):AAe#%e!ro)a%e!AinternalGmar+etAa##o!ntinAlealGfr
ame-or+AiasGre!lati onGen%htm
Has the 7!ris"i#tion ma"e a
)!(li# #ommitment to-ar"s
IFRS as that sinle set of hih
<!alit$ lo(al a##o!ntin
stan"ar"sF
&es%
Refer to the IAS Re!lation a"o)te" ($ the E!ro)ean
Union in /00/:
htt):AAe#%e!ro)a%e!AinternalGmar+etAa##o!ntinAlealGfr
ame-or+AiasGre!lati onGen%htm
Copyright IFRS Foundation
2
What is the
7!ris"i#tionHs stat!s of
a"o)tionF
Slo*enia has alrea"$ a"o)te" IFRS for the
#onsoli"ate" finan#ial statements of all #om)anies
-hose se#!rities tra"e in a re!late" mar+et%
A""itional
#omments
)ro*i"e" on
the a"o)tion
stat!sF
As a mem(er state of the
E!ro)ean Union' Slo*enia
is s!(7e#t to the IAS
Re!lation a"o)te" ($ the
E!ro)ean Union in /00/%
The EU IAS Re!lation re<!ires
a))li#ation of IFRS as a"o)te"
($ the EU for the #onsoli"ate"
finan#ial statements of E!ro)ean
#om)anies -hose se#!rities
tra"e in a re!late" se#!rities
mar+et startin in /00I% The EU
IAS Re!lation i*es mem(er
states the o)tion to re<!ire or
)ermit IFRS as a"o)te" ($ the
EU in se)arate #om)an$
finan#ial statements 2stat!tor$
a##o!nts3 an"Aor in the finan#ial
statements of #om)anies -hose
se#!rities "o not tra"e on a
re!late" se#!rities mar+et%
See the Profile for the E!ro)ean
Union for more "etaile"
information a(o!t the EU IAS
Re!lation%
There is one re!late" mar+et in
Slo*enia J the L7!(l7ana Sto#+
EE#hane Offi#ial
=ar+et%
Slo*enia !se" the
o)tion !n"er the
IAS Re!lation as
follo-s: Com)anies
-hose se#!rities
tra"e in a re!late"
mar+et
Permit IFRS as a"o)te" ($
the EU for the se)arate
finan#ial statements of
#om)anies -hose se#!rities
tra"e in a re!late" mar+et%
Com)anies -hose se#!rities "o
not tra"e in a re!late" mar+et
Re<!ire IFRS as a"o)te"
(
$

t
h
e

E
U

i
n

(
o
t
h

t
h
e

#
o
n
s
o
l
i
"
a
t
e
"

f
i
n
a
n
#
i
a
l

s
t
a
t
e
m
e
n
ts
an"
se)
arat
e
fina
n#ial
stat
eme
nts
of
(an
+s
an"
ins!
ran#
e
#om
)ani
es
-ho
se
se#
!riti
es
"o
not
tra"
e in
a
re!
late
"
mar
+et%
Permit
IFRS
as
a"o)te
" ($ the
EU in
the
#onsoli
"ate"
finan#ia
l
stateme
nts of
#om)an
ies
other
than
(an+s
an"
ins!ran#e
#om)anies
-hose
se#!rities
"o not
tra"e in a
re!late"
mar+et%
On#e s!#h
a
#om)an$ has a"o)te" IFRS
as a"o)te" ($ the EU' it
m!st #ontin!e to !se IFRS
as a"o)te" ($ the EU for at
least fi*e $ears%
Permit IFRS as a"o)te" ($
the EU in the se)arate
finan#ial statements of
#om)anies other than (an+s
-hose se#!rities "o not
tra"e in a re!late" mar+et%
If the 7!ris"i#tion
has NOT ma"e a
)!(li# statement
s!))ortin the
mo*e to-ar"s a
sinle set of
a##o!ntin
stan"ar"s an"Aor
to-ar"s IFRS as
that set of
stan"ar"s'
eE)lain the
7!ris"i#tionHs
eneral )osition
to-ar"s the
a"o)tion of IFRS
in $o!r
7!ris"i#tion%
Not a))li#a(le%
E"TENT OF IFRS APPLICATION
For DOMESTIC companies whose debt or equity
securities trade in a public market in the
jurisdiction
Are all or some
"omesti#
#om)anies -hose
se#!rities tra"e in
a )!(li# mar+et
either re<!ire" or
)ermitte" to !se
IFRS in their
#onsoli"ate"
finan#ial
statementsF
&es%
If &ES' are IFRS REKUIRED or PER=ITTEDF In
a##or"an#e -ith the
EU A##o!ntin
Re!lation' IFRS as
a"o)te" ($ the EU are
re<!ire" for the
#onsoli"ate" finan#ial
statements of all
E!ro)ean #om)anies
-hose "e(t or e<!it$
se#!rities tra"e in a
re!late" mar+et in
Slo*enia%
Does that a))l$ to ALL
"omesti# #om)anies -hose
se#!rities tra"e in a )!(li#
mar+et'
or onl$ SO=EF If some'
-hi#h onesF
All%
Are IFRS also
re<!ire" or
)ermitte" for
more than the
#onsoli"ate"
finan#ial
statements of
#om)anies
-hose se#!rities
tra"e in a )!(li#
mar+etF
&es%
For instan#e' are
IFRS re<!ire" or
)ermitte" in
se)arate
#om)an$ finan#ial
statements
of #om)anies
-hose
se#!rities tra"e
in a )!(li#
mar+etF
IFRS as a"o)te" ($ the EU are
)ermitte" for the se)arate
finan#ial statements of
#om)anies -hose se#!rities
tra"e in a re!late" mar+et%
For instan#e' are
IFRS re<!ire" or
)ermitte" for
#om)anies -hose
se#!rities "o not
tra"e in a )!(li#
mar+etF
IFRS as a"o)te" ($ the EU are:
Re<!ire" in (oth the
#onsoli"ate" finan#ial
statements an" se)arate
finan#ial statements of (an+s
an" ins!ran#e #om)anies
-hose se#!rities "o not tra"e
in a re!late" mar+et%
Permitte" in the #onsoli"ate"
finan#ial statements of
#om)anies other than (an+s
an" ins!ran#e #om)anies
-hose se#!rities "o not
tra"e in a re!late" mar+et%
On#e s!#h a #om)an$ has
a"o)te" IFRS as a"o)te" ($
the EU' it m!st #ontin!e to
!se IFRS as a"o)te" ($ the
EU for at least fi*e $ears%
Permitte" in the se)arate
finan#ial statements of
#om)anies other than
(an+s -hose se#!rities "o
not tra"e in a re!late"
mar+et%
If the 7!ris"i#tion
#!rrentl$ "oes
NOT re<!ire or
)ermit the !se of
IFRS for "omesti#
#om)anies -hose se#!rities tra"e
in a )!(li# mar+et' are there an$
)lans to )ermit or re<!ire IFRS
for s!#h #om)anies
in the f!t!reF
Not a))li#a(le%
For FO!EI"# companies
whose debt or equity
securities trade in a public
market in the jurisdiction
Are all
or
some
forein
#om)an
ies
-hose
se#!riti
es
tra"e in
a )!(li#
mar+et
either
REKUI
RED or
PER=I
TTED
to !se
IFRS in
their
#onsoli
"ate"
finan#ia
l
stateme
ntsF
&es%
If &ES'
are
IFRS
REKUIR
ED or
PER=IT
TED in
s!#h
#asesF
Re<!ire" for
some an"
)ermitte" for
others% Forein
#om)anies
-hose se#!rities
tra"e in a
re!late" mar+et
in Slo*enia 2an"
enerall$ in the
EU3 are re<!ire"
to re)ort !n"er
IFRS for their
#onsoli"ate"
finan#ial
statements
!nless the
E!ro)ean
Commission has
"eeme" their
lo#al a##o!ntin
stan"ar"s to (e
e<!i*alent to
IFRS' in -hi#h
#ase the$ ma$
!se their lo#al stan"ar"s%
htt):AAe#%e!ro)a%e!AinternalGmar+e
tAa##o!ntinAlealGframe-or+Ae<!i
*alen#e
Gme#hanismGen%htm
Does that a))l$
to ALL forein
#om)anies
-hose se#!rities
tra"e in a )!(li#
mar+et' or onl$
SO=EF If
some' -hi#h
onesF
All%
IFRS ENDORSEMENT
Whi#h IFRS are
re<!ire" or
)ermitte" for
"omesti#
#om)aniesF
IFRS as a"o)te" ($ the
E!ro)ean Union' -hi#h are IFRS
as iss!e" ($ the IASL -ith some
limite" mo"ifi#ations s!#h as the
tem)orar$ H#ar*e.o!tH from IAS
5C% Ho-e*er' the res!ltin
finan#ial statements of the
ma7orit$ of #om)anies #an still
(e in f!ll #om)lian#e -ith IFRS%
The a!"itorHs re)ort an"Aor
the (asis of )resentation
footnotes states that finan#ial
statements ha*e (een
)re)are" in #onformit$ -ith:
IFRS as a"o)te" ($ the E!ro)ean Union%
Does the
a!"itorHs re)ort
an"Aor the (asis
of )re)aration
footnote allo- for
M"!al re)ortinN
2#onformit$ -ith
(oth IFRS an"
the 7!ris"i#tionNs
;AAP3F
&es%
Are IFRS
in#or)orat
e" into la-
or
re!lations
F
&es%
If $es' ho- "oes that )ro#ess -or+F The
)ro#ess is "es#ri(e" in the Profile of the E!ro)ean
Union%
If no' ho- "o
IFRS (e#ome a
re<!irement in
the 7!ris"i#tionF
Not a))li#a(le%
Does the
7!ris"i#tion ha*e
a formal )ro#ess
for the
Hen"orsementH or
Ha"o)tionH of ne-
or amen"e"
IFRS 2in#l!"in
Inter)retations3
in )la#e
&es%
If $es' -hat is the )ro#essF
The )ro#ess is "es#ri(e" in the Profile of the
E!ro)ean Union%
If no' ho- "o
ne- or amen"e"
IFRS (e#ome a
re<!irement in
the 7!ris"i#tionF
Not a))li#a(le%
Has the
7!ris"i#tion
eliminate" an$
a##o!ntin
)oli#$ o)tions
)ermitte" ($
IFRS an"Aor
ma"e an$
mo"ifi#ations to
an$ IFRSF
&es%
If $es' -hat are the
#hanesF
Details are in the Profile of
the E!ro)ean Union%
Other
#omme
nts
rear"in
the
!se of
IFRS in
the
7!ris"i#ti
onF
None%
TRANSLATION OF IFRS
Are IFRS translate" into the
lo#al lan!aeF &es%
Th
e
E!
ro)
ea
n
Uni
on
ha
s
/B
offi
#ial
an
"
-o
r+i
n
lan
!
a
es%
Th
e$
are
:
L!l
ar
ian
'
Cr
oat
ian' C6e#h'
Danish' D!t#h'
Enlish' Estonian'
Finnish' Fren#h'
;erman' ;ree+'
H!narian' Irish'
Italian' Lat*ian'
Lith!anian'
=altese' Polish'
Port!!ese'
Romanian' Slo*a+'
Slo*ene' S)anish
an" S-e"ish%
Lefore the$ are
)!(lishe" in the
Official Journal of
the European
Union' an"
therefore (e#ome
(in"in !n"er EU
la-' in"i*i"!al
IFRS m!st (e
translate" into all
of those lan!aes
2other
t
h
a
n

E
n

l
i
s
h

a
n
"

I
r
i
s
h
3
%
If the$ are translate"' -hat is
the
translation )ro#essF In
)arti#!lar' "oes this )ro#ess
ens!re an onoin translation
of the latest !)"ates to
IFRSF
P!rs!ant to a #o)$riht -ai*er areement -ith the
Dire#torate.;eneral for Translation of the E!ro)ean
Commission' the Commission ta+es #are of the
translation into the offi#ial lan!aes a##or"in to their
o-n translation )ro#ess% The translation onl$ #o*ers
the IFRS #ontents as en"orse" ($ the EC 2the
stan"ar" an" man"ator$ !i"an#e3 J -hi#h is -hat is
then )!(lishe" in the Official Journal of the European
Union%
In a""ition' some #o!ntries 2!s!all$ the stan"ar"
setter or instit!te3 ha*e a translation #ontra#t -ith the
IFRS Fo!n"ation to )ro"!#e an Moffi#ial translationN for
)!(li#ation of a (o!n" *ol!me of IFRS 2!s!all$ the
MRe" Loo+N3 an" )!(li#ation' in some #ases' of
in"i*i"!al stan"ar"s an" eE)os!re "rafts%
APPLICATION OF THE IFRS FOR SMEs
Has the
7!ris"i#tion
a"o)te" the
IFRS for
S=Es for at
least some
S=EsF
No%
If no' is the
a"o)tion of the
IFRS for S=Es
!n"er
#onsi"erationF
No%
Di" the
7!ris"i#tion ma+e
an$
mo"ifi#ations to
the IFRS for
S=EsF
Not a))li#a(le%
If the
7!ris"i#tio
n has
ma"e an$
mo"ifi#ati
ons' -hat
are those
mo"ifi#ati
onsF
Not a))li#a(le%
Whi#h S=Es
!se the IFRS
for S=Es in the
7!ris"i#tion' an"
are the$
re<!ire" or
)ermitte" to "o
soF
Not a))li#a(le%
For
those
S=Es
that are
not
re<!ire"
to !se
the
IFRS for
S=Es'
-hat
other
a##o!nti
n
frame-
or+ "o
the$
!seF
The$ are )ermitte"
to !se either IFRS
as a"o)te" ($ the
EU or Slo*enian
national
a##o!ntin
stan"ar"s as
a"o)te" ($ the
Slo*enian Instit!te
of A!"itors%
Other #omments rear"in
!se of the IFRS
for S=EsF
None%