What does AAARS mean in ACCOUNTING

The Association of Accountants and Auditors Republika Srpska (AAARS) is an independent professional body in the Republic of Srpska, Bosnia and Herzegovina. It acts as a regulator for the accounting profession, promoting its highest standards through education, training and ethical guidance.

The main objectives of AAARS are to maintain high professional standards among accountants working in the Republic of Srpska through education, training and adherence to ethical principles. Additionally, AAARS works to protect stakeholders from potential harm caused by improper accounting practices.

Yes, AAARS offers a range of services including registration with its governing body, education programs on topics related to accounting practice including fraud prevention methods, mentoring programs for aspiring professionals as well as disciplinary procedures against members who are found guilty by violating set rules and regulations.

All qualified individuals who have obtained a degree related to accounting or auditing in Republika Srpska or abroad can apply for registration with AAARS provided they satisfy all requirements set out by them such as participation in educational programs or mentor-ship programs conducted by it.

In order to ensure quality assurance among members registered with it, AAARS developed a rigorous Departmental Certification Program which evaluates every application before awarding certification. Additionally it also provides regular audit reports on financial records maintained by members every six months or year depending upon their size.