Practices and Policies for Continuing Professional Developmentof Accountants: A Comparative Analysis of North Macedonia andSerbia

Abstract

In the context of dynamic changes, globalization, and the growing need for enhanced transparency and high-quality financial reporting, continuing education, i.e., continuing professional development, represents a key factor in maintaining and enhancing the professional competencies of accountants. The subject of this research is to analyze and examine the role and significance of continuing professional development for accountants and certified accountants, with particular emphasis on the policies and practices implemented in the Republic of North Macedonia and the Republic of Serbia.The established research objective has been achieved through the application of appropriate research and analytical methods. The aim of the paper is to conduct a comparative analysis of the continuing professional development systems in the two countries by examining the legal framework, institutional arrangements, types of training, monitoring and control mechanisms, as well as the sanctions imposed for non-compliance with the prescribed obligations. The analysis indicates that, although the two systems share significant similarities in their fundamental structure, Serbia demonstrates a higher level of development with regard to digitalization and the diversity of educational programs, whereas the system in North Macedonia is more focused on the formal fulfillment of statutory requirements. The conclusion of the paper presents opportunities for improving training and professional development systems through the adoption of best practices, enhancement of training quality, and the promotion of lifelong learning as a fundamental value of the accounting profession.