IB Interbilanz Consulting & Audit d.o.o. operates under IBD Group GmbH, Vienna. IBD Group was established in Austria and has been providing consulting and auditing services since 1991 in Austria and in other countries. The company has been operating in the Serbian market for more than 15 years. We talked with Filip Boršik, Director of IB Interbilanz Consulting & Audit, about what was it like to do business in our country.
What services does your office specialize in?
— Our Belgrade office provides a wide range of services. We support our clients in strategic tax planning and attend to them continuously. We also represent clients before tax authorities. Furthermore, we assist in opening companies, optimizing taxation of international activities, mergers and restructuring companies. We analyze changes in legislation and their potential impact on our clients and develop proposals for business optimization methods. In addition to tax consulting and auditing, business consulting is also one of the key components of IB Interbilanz’s services. As long-term partners, we support our clients and provide services beyond the borders of Serbia, from the get-go all the way to implementation. We identify key success factors, define the potential for improvement in order to optimize business achievements and make recommendations for concrete actions. We have adapted our bookkeeping services to the specific requirements of our clients and provide valid up-to-date information necessary for quality management of business activities. Our speciality is harmonizing national financial reports with the group reporting system, in accordance with national accounting standards, IFRS or US GAAP, in order to obtain the information required for the consolidated financial statements. We also specialize in reliability and speed in providing quality advice regarding specific issues in the field of financial and tax operations. The high quality of our services is ensured through the specialization and professional qualification of our employees, as well as through our company’s commitment to continuous education and training.
Who are your key clients?
— IB Interbilanz is focused on foreign clients operating in Serbia and the region, namely on companies from the German-speaking region – Austria, Germany and Switzerland. Of course, we have American, French and companies from other countries in our portfolio. We provide the complete range of our services, from accounting to tax and financial reporting, in English and German, which definitely facilitates our clients’ business operations in Serbia.
What does it mean for you to be a part of IBD Group?
— As I mentioned earlier, our focus is on clients from the German-speaking area, and their standards are very clear and high. Since we are members of IBD Group, we also have to implement these standards, because they guarantee that our clients will get the best possible service and that they will see us as a reliable partner in financial and administrative matters. IBD Group was established in Austria and has been providing consulting and auditing services since 1991 in Austria and other countries. Currently, we are active in 8 countries – in addition to Austria, there is Serbia, Slovenia, Croatia, Hungary, Slovakia, Ukraine, and the Czech Republic, in a total of 12 locations.
What novelties in terms of laws that regulate your segment would you like to convey to companies?
— Novelties in regulation are frequent and often quite inconsistent with the practice and without a clear strategy on the part of the legislator. The focus is on the Law on the Prevention of Money Laundering and Financing of Terrorism, the Law on Profit Tax, primarily on changes in tax balance and tax depreciation, as well as on the controversial Decree of the Ministry of Finance about commuting costs for workers. The FIC sent a letter to the Ministry regarding the latter. In terms of financial reporting (IFRS), the changes that have been made in other countries have not yet been incorporated into statutory reporting in our country, primarily in IFRS 15 and IFRS 16.
What are your further plans regarding the development of your service portfolio?
— Our plans are to continue expanding the client base in Serbia and the region, facilitate our partners in Austria and Germany in terms of doing business in Serbia and to be their partner in financial, auditing, tax and administrative matters. In terms of standard services we provide, we are going to focus more on consulting in relation to the IFRS standards, and providing accounting support in the implementation of the ERP solutions, primarily in the implementation of SAP, CFO external services.