Archive of Journal - Financing
Financing – scientific magazine for economy
ISSUE 2021, No. 3, Article 3, Year of publication: 12, September, 2021
Bobana Čegar, PhD*
*PhD, Senior Assistant, University of Banja Luka, The Faculty of Economics, Department for Accounting and Business Finance
Publication of a semi-annual management statement, according to the EU Transparency Directive, is mandatory for all listed companies in EU member states, while the originally defi ned obligation to present this report on a quarterly basis was abolished by amendments to this Directive in 2011. Analyzing the legislation and information published by issuers in Southeast Europe, on a sample of 225 companies from nine different countries, it could be concluded that the publication of a semi-annual management statement is mandatory in Bulgaria, Montenegro, Croatia, Romania, Northern Macedonia, Slovenia and Serbia, but not in Bosnia and Herzegovina. Almost all companies that submitted this report did so within the deadlines defined for the submission of interim financial statements and usually in such a way that both, the management statement and the financial statements, are a single document. However, in terms of the content of the interim management statement, there are signifi cant variations, both between the observed countries and between the observed companies within the same countries.
Keywords: interim management statement, frequency of reporting, Transparency Directive, Southeast Europe, capital market
DOI: DOI: 10.7251/FIN2103029C