LAW OF THE REPUBLIC OF ARMENIA

of November 10, 2017 No. ZR-167

About introduction of amendments to the Law of the Republic of Armenia "About auditor activities"

Accepted by National Assembly of the Republic of Armenia on October 25, 2017

Article 1. "About auditor activities" (further - the Law) to state part 2 of article 26.1 of the Law of the Republic of Armenia of December 26, 2002 to ZR-512-N in the following edition:

"2. Within 23 working days after submission of the documents established by the procedure for licensing approved by the Government of the Republic of Armenia, the commission created by authorized body for the purpose of licensing of rendering auditor services (further - the licensing commission), considers them and makes the decision on provision to the applicant of the license or on request variation about the license. For the purpose of reclamation of the additional information or documents or clearing of some facts the decision of the licensing commission the above-stated term can be suspended. The term of suspension cannot exceed 10 working days. Term from the moment of the decision on renewal of consideration of the request after receipt of necessary requirements shall not exceed the number of the working days arising from difference of the working days before suspension and term in 23 working days.".

Article 2. 2, of the 4 and 5 article 26.2 of the Law to state parts in the following edition:

"2. The request for receipt of the license in writing is rejected no later than within 23 working days from the date of receipt of the request in authorized body. In case of suspension by the licensing commission of term of 23 working days according to the procedure, provided by part 2 of article 26.1 of this Law, this term is not estimated in the term established by this Law.";

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