Award for the Register of Financial Statements at ITAPA

In the competition, focusing on solutions and technologies that helped simplify, improve and streamline public administration processes, the Register of Financial Statements won 3^rd place in the category New Services. The award was presented to the PosAm representative at the gala awards evening ITAPA 2014.

“PosAm was given a clear goal – to simplify the life of businesses. We see this award as a symbolic appreciation of how we truly managed to achieve this. Most important for us, however, is that the system is appreciated by the actual users. The Register of Financial Statements is proof that investment into sensible IT projects is one of the ways how to improve the business environment in Slovakia,” said Peter Kolesár, Director for Public Administration at PosAm.

The system was also appreciated by the Slovak Association of Finance and Treasury (SAF). Its management board awarded the Award for contribution in the field of corporate finances for 2014 to Mrs. Viera Laszova, division director at the Ministry of Finance SR, for her personal input in the creation and launch of the Register of Financial Statements. The Association underscored the impact on the quality of the business environment by increasing the transparency of business.

The RFS is an information system of public administration that is operated by DataCentrum on behalf of the Ministry of Finance SR. It is essentially a central database, thanks to which businesses no longer need to submit data to several institutions, but just to the Financial Administration SR. Other institutions that need the data can get them from this system. In addition to reducing the administrative burden and saving time, businesses also save on related fees. The general public and the professional community, on the other hand, get problem-free access to the financial data of companies, which increases the transparency of the business environment. Pilot operation was launched in May 2013, with full operation officially going live in January 2014.

The Register of Financial Statements comprises two parts. In the public area, legally defined data are available (financial statements of trading companies, associations, state enterprises, public administration bodies, accounting entities that report in line with International Financial Reporting Standards and other specific accounting entities). This part is freely available on the internet portal www.registeruz.sk. To the present day, almost 380,000 financial statements and related documents have been filed to the RFS for 2013. A further 1.5 million plus financial statements are in the system from the years 2009-2012, but these are regarded as test data only, considering the launch data of the RFS (1.1.2014).

More about project: The Register of Financial Statements