In an auditing company, a majority of voting rights have to be held by authorised auditors. Non-EU-EEA auditors and auditing companies can qualify for registration as statutory auditors on the basis of reciprocity.
"SECOND PART - STATUTORY AUDITOR, AUDITING COMPANY AND ASSISTANT TO THE STATUTORY AUDITOR
§ 3 Conditions for performance of statutory audit
(1) A condition for the performance of a statutory audit is the acquisition of a certificate of competence for the performance of a statutory audit (hereinafter referred to as the "certificate"), issued by the office to the applicant, if
a) is fully competent for legal acts,
b) has a good reputation
c) has completed a second-level university education,
d) has at least five years of professional experience in accounting,
e) participated in continuous education of statutory auditor assistants,
f) submitted to the office officially certified copies of certificates and licenses from other member states and third countries that he holds, including the name of the authority by which they were issued and their number,
g) passed the audit exam according to § 15 .
(2) Assistant to the statutory auditor during professional practice according to paragraph 1 letter d) is obliged to complete, on the basis of a written contract with a statutory auditor or an auditing company, at least three years of practical training focused on the field of statutory auditing, assurance and related auditing services in the amount of at least 2,100 hours, of which two thirds with a statutory auditor or an auditing company, who are registered in the list of statutory auditors or the list of audit companies (hereinafter referred to as the "relevant list"), with a European auditor or in an audit company from another Member State.
(3) The period during which the scope of practical training according to paragraph 2 is evaluated can last a maximum of six years, including the interruption of practice according to § 13 par. 6 .
(4) The assistant statutory auditor carries out practical training under the guidance of the trainer of the assistant statutory auditor (hereinafter referred to as the "trainer"), who
a) performs the activity of a statutory auditor as the main activity throughout the year,
b) has at least five years of experience in the profession of statutory auditor or European auditor,
c) has a good reputation
d) he was not imposed a disciplinary measure according to § 49 par. 1 and sanctions according to § 64 or disciplinary measures and sanctions in another member state,
e) he has fulfilled his obligations towards the chamber or, in the case of a European auditor, towards the relevant professional organization, if he is a member of it in another member state,
f) is kept in the list of trainers by the chamber if he is a member of the chamber or in the list of trainers kept by the office if the trainer is a European auditor.
(5) The certificate will also be issued by the office to the European auditor who meets the conditions according to paragraph 1 letter a) and b), if
a) is proven by a valid certificate issued in another member state,
b) is proven by a confirmation from the authority that issued the license, or from the authority that controls compliance with the requirement of continuous education, which documents their participation in continuous education in the immediately preceding period,
c) passed the aptitude test according to § 16 .
(6) On the basis of reciprocity, the office can issue a certificate to an auditor from a third country who meets the conditions according to paragraph 1 letter a) and b), and enable him to perform a statutory audit according to this Act, if
a) is proven by a valid license issued in a third country and submits proof that the audit test he performed in a third country meets the requirements according to § 15 par. 2 ,
b) is proven by a confirmation from the authority that issued the license or from the authority that controls compliance with the requirement of continuing education, by which they document their participation in continuing education in the immediately preceding period,
c) passed the aptitude test according to § 16.
[...]
§ 5 Conditions for registration in the list of auditing companies
(1) The Office shall enter in the list of audit companies within two months from the date of delivery of the written request, the details of which are determined by the internal regulations of the Office, a legal entity,
a) in which the majority of voting rights belong to statutory auditors, audit firms, European auditors or audit firms from another Member State who are entered in the relevant list maintained by an office or competent authority in another Member State,
b) in which the majority of the members of the statutory body of the audit firm are statutory auditors or European auditors; if this legal entity has two members of the statutory body, at least one of them must be a statutory auditor or a European auditor,
[...]
§ 7 Registration of third-country auditors and third-country audit firms
(1) The Office shall also register an auditor from a third country and an auditing company from a third country in the relevant list, if
a) submit an auditor's report regarding the financial statements of an accounting entity registered outside the territory of member countries whose transferable securities are admitted to trading on a regulated market in the Slovak Republic, except for an accounting entity that is the issuer of only outstanding debt securities admitted to trading on a regulated market in the Slovak Republic republic
1. before December 31, 2010, whose nominal value on the day of issue is at least EUR 50,000 per security or, in the case of debt securities issued in another currency, their nominal value on the day of issue is equal to at least EUR 50,000 per security; an auditor's report regarding the financial statements, issued by an auditor from a third country or an auditing company from a third country, who are not registered in the relevant list, has no legal effects in the Slovak Republic,
2. from December 31, 2010, whose nominal value on the day of issue is at least EUR 100,000 per security or, in the case of debt securities issued in another currency, their nominal value on the day of issue is equal to at least EUR 100,000 per security; an auditor's report regarding the financial statements, issued by an auditor from a third country or an auditing company from a third country, who are not registered in the relevant list, has no legal effects in the Slovak Republic,
b) an auditor from a third country performing a statutory audit on behalf of an auditing company from a third country meets conditions that are equivalent to the conditions according to § 3 par. 1 and 2 and § 21 ,
c) the majority of the members of the statutory body of the auditing company from a third country meet the conditions that are equivalent to the conditions according to § 3 par. 1 and 2 ,
d) the statutory audit in the accounting unit according to letter a) was performed according to international auditing standards and in accordance with § 21 and § 23 par. 8,
e) within four months of the end of the accounting period, they published a transparency report on their website, which contains equivalent information to the transparency report according to special regulation 1 ) for the immediately preceding accounting period.
(2) The Office will not register an auditor from a third country or an auditing company from a third country in the relevant list if they do not prove that they publish a transparency report on their website every year in accordance with paragraph 1 letter e).
(3) The data provided by the auditor from the third country and the audit company from the third country pursuant to paragraph 1 shall be signed by the auditor or the statutory representative of the audit company. If this information is provided electronically, a guaranteed electronic signature or a guaranteed electronic seal must be used. 17 )
(4) An auditor from a third country and an auditing company from a third country are obliged to notify the office of a change or deletion of data in accordance with paragraph 1 without delay, no later than within one month.
(5) An auditor from a third country and an audit company from a third country registered pursuant to paragraph 1 are not subject to a statutory audit quality assurance check pursuant to § 35, if the system of statutory audit quality assurance checks in this country is recognized by the European Commission as equivalent and in the previous three years it was with this auditor or in this audit company has been audited for the quality assurance of the statutory audit by a competent authority in another member state or in a third country.
(6) An auditor from a third country and an audit company from a third country registered pursuant to paragraph 1 are not subject to supervision pursuant to § 36 and sanctions pursuant to § 64 if they are included in the system of supervision and disciplinary responsibility in the third country and if this system is recognized as equivalent by the European Commission.[...]" (Act on Statutory Audit No. 423/2015 Coll as amended [google translation])
Act on Statutory Audit No. 423/2015 Coll as amended [google translation]
[<a href="https://www.slov-lex.sk/pravne-predpisy/SK/ZZ/2015/423/">Act</a>]