Like most other sectors, auditing is also evolving under the influence of digitalization, the ever-increasing volume of data, and the development of artificial intelligence. However, despite technological advancements, the pivotal role remains with people—their knowledge, experience, and ability to exercise professional judgment.

Every year, the International Accounting Standards Board (IASB) publishes new standards and amendments that significantly affect the presentation of financial statements. Creating financial reports in accordance with International Financial Reporting Standards (IFRS) is, therefore, quite challenging.

The Committee for Financial Reporting Standards adopted the Decision on Amendments to the Decision on the Publication of Croatian Financial Reporting Standards (Narodne novine No. 105/20), according to which it specified what general information micro and small entrepreneurs are required to publish in the notes to the annual financial statements. The aforementioned decision also determined what information that micro and small entrepreneurs do not have to include.

On December 14, 2022, the European Union adopted the Corporate Sustainability Reporting Directive (CSRD).

In May 2017, after almost 20 years of development, the International Accounting Standards Board published IFRS 17 "Insurance Contracts". IFRS 17 completely replaces the current IFRS 4 (published in March 2004) and the full application of the new standard becomes effective for annual periods beginning on or after January 1, 2023.

Sustainable development has been at the center of European politics for a long time, and the European Union has not left out this expected segment of business. Today, companies are increasingly trying to join forces with each other in order to create and adapt new ideas, turning towards sustainable business.