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Key Facts: Ovlašteni revizor Exam

€1,200

Total fee for all five modules of the osnovni revizorski ispit (€300 + €300 + €200 + €200 + €200)

Odluka o naknadama za polaganje revizorskog ispita, posebnog ispita i ispita osposobljenosti, NN 89/2025

4 years

Supervised statutory-audit experience required within the last eight years

Zakon o reviziji, Art. 11(7)

70%

Pass threshold for every module in the 2026 examination programme

Program revizorskog ispita za 2026., Hrvatska revizorska komora

5

Modules in the osnovni revizorski ispit, plus a separate sustainability examination

Zakon o reviziji, Art. 11(5)

300 ECTS

Minimum academic credits required to sit the examination

Zakon o reviziji, Art. 11(7)

60 months

Maximum period to complete all five module tests

Pravilnik o revizorskom ispitu, posebnom ispitu i ispitu osposobljenosti, NN 107/24, Art. 16(3)

11 years

Minimum retention period for audit working documentation

Zakon o reviziji, Art. 46(2)

10 years

Maximum statutory audit engagement of one firm at a public-interest entity

Zakon o reviziji, Art. 64(1)

The Croatian auditor examination is a five-module written state-supervised assessment run by the Croatian Audit Chamber; passing all five modules and holding four years of supervised statutory-audit experience leads to the Ministry of Finance licence that confers the title ovlašteni revizor.

Sample Ovlašteni revizor Practice Questions

Try these sample questions to review concepts for the Ovlašteni revizor exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under the Croatian Audit Act (Zakon o reviziji, Narodne novine br. 127/17, 27/24, 85/24, 145/24, 151/25), which public authority is the competent authority for the public oversight of statutory audit (javni nadzor nad revizijom) and issues the licence (odobrenje za rad) that confers the title ovlašteni revizor?
A.Hrvatska narodna banka (Croatian National Bank)
B.Trgovački sud u Zagrebu (Commercial Court in Zagreb)
C.Ministarstvo financija Republike Hrvatske (Ministry of Finance of the Republic of Croatia)
D.Hrvatska gospodarska komora (Croatian Chamber of Economy)
Explanation: Article 68 of the Zakon o reviziji designates the Ministry of Finance as the competent authority for the public oversight of statutory audit, and Article 75 places supervision of certified auditors and audit firms with the Ministry. Under Article 7(1) and (2) the Ministry issues the odobrenje za rad, on which the natural person acquires the title ovlašteni revizor, and Articles 34 to 37 place the statutory registers with the Ministry. The Croatian Audit Chamber (Hrvatska revizorska komora — HRK) organises and conducts the auditor examination under Article 11.a, applying an examination programme to which the Ministry has given prior consent.
2Under Article 11(7) of the Zakon o reviziji, as amended by NN 85/24, what work experience must a candidate hold to be admitted to the basic auditor examination (osnovni revizorski ispit)?
A.One year of any accounting or bookkeeping work, with no supervision requirement
B.Two years of internal audit work in any commercial company
C.Five years of general accounting work, of which at least one year in tax advisory services
D.Four years of statutory-audit experience under the supervision of a certified auditor, under an employment contract with an audit firm, within the last eight years
Explanation: Article 11(7) of the Zakon o reviziji admits a candidate who (1) has completed at least an undergraduate and graduate university study, an integrated study, or a professional undergraduate and graduate study worth at least 300 ECTS credits (or a university study conferring visoka stručna sprema), and (2) has four years of work experience in performing statutory audit, acquired under an employment contract with an audit firm and under the supervision of a certified auditor, in the eight years preceding the examination. That period is measured as the equivalent of four years of recorded pension-insurance service. Article 13(2) adds that preparatory professional training for the examination is not compulsory.
3Under ISA 200 (Overall Objectives of the Independent Auditor), what is the fundamental objective of the auditor in conducting an audit of financial statements?
A.To obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and issue an auditor's report
B.To obtain absolute assurance that the financial statements are completely free from all errors and guarantee corporate solvency
C.To discover every occurrence of employee petty theft and prepare the company's tax return
D.To certify that the audited company represents an optimal investment opportunity for external creditors
Explanation: Under ISA 200.11, the overall objectives of the auditor are: (a) to obtain reasonable assurance (razumno uvjerenje) about whether the financial statements as a whole are free from material misstatement (značajan pogrešan prikaz), whether due to fraud or error, thereby enabling the auditor to express an opinion on whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework; and (b) to report on the financial statements and communicate as required by ISAs.
4Under ISA 210 (Agreeing the Terms of Audit Engagements), which of the following is a mandatory component of an audit engagement letter (pismo o preuzimanju revizijskog angažmana)?
A.An agreement establishing that the auditor's fee will be paid as a 10% contingency on reported net profit
B.A legally binding guarantee that no tax audit will be conducted by the Tax Administration during the year
C.The objective and scope of the audit, identification of the financial reporting framework, and the expected form of the report
D.A waiver of management's responsibility for maintaining internal accounting controls
Explanation: Under ISA 210.10, the agreed terms of the audit engagement must be recorded in an audit engagement letter and include: (a) the objective and scope of the audit; (b) the responsibilities of the auditor; (c) the responsibilities of management; (d) identification of the applicable financial reporting framework; and (e) reference to the expected form and content of any reports to be issued.
5Under ISA 240 (The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements), what primary presumption must the auditor make regarding the risk of material misstatement due to fraud?
A.The auditor must presume that there are risks of fraud in revenue recognition (prihodi) and evaluate which types of revenue give rise to such risks
B.The auditor must presume that internal controls over cash disbursements are completely ineffective in every company
C.The auditor must presume that company directors have committed criminal acts unless audited by police investigators
D.The auditor must presume that third-party bank confirmations are systematically forged
Explanation: ISA 240.26 establishes a rebuttable presumption that there are risks of fraud in revenue recognition (rizik od prijevare u priznavanju prihoda). The auditor must evaluate which types of revenue, revenue transactions, or assertions give rise to such risks, and design appropriate substantive procedures. If the presumption is rebutted, the auditor must document the reasons under ISA 240.47.
6Under ISA 315 (Revised 2019), what is the difference between inherent risk (izvorni rizik) and control risk (kontrolni rizik) in assessing the risks of material misstatement?
A.There is no difference; the two terms are identical synonyms for detection risk under ISA standards
B.Inherent risk is caused solely by economic inflation, whereas control risk is caused by IT programming glitches
C.Inherent risk is controlled by the external auditor, whereas control risk is set by the state audit chamber
D.Inherent risk is the susceptibility of an assertion to misstatement before consideration of any related controls, whereas control risk is the risk that internal controls fail to prevent or detect misstatements
Explanation: Under ISA 315.12, the risk of material misstatement at the assertion level consists of two components: (1) inherent risk (izvorni rizik) — the susceptibility of an assertion about a class of transactions, account balance, or disclosure to a misstatement that could be material, before consideration of any related controls; and (2) control risk (kontrolni rizik) — the risk that a misstatement that could occur will not be prevented, or detected and corrected, on a timely basis by the entity's internal control.
7Under ISA 320 (Materiality in Planning and Performing an Audit), what is performance materiality (izvedbena značajnost)?
A.The amount or amounts set by the auditor at less than materiality for the financial statements as a whole to reduce to an appropriately low level the probability that uncorrected misstatements exceed materiality
B.The maximum audit fee that the audit firm can earn based on engagement performance
C.The threshold below which the auditor is prohibited from communicating misstatements to management
D.The legal damages awarded to shareholders when audited financial statements contain misstatements
Explanation: Under ISA 320.9, performance materiality (izvedbena značajnost) means the amount or amounts set by the auditor at less than materiality for the financial statements as a whole to reduce to an appropriately low level the probability that the aggregate of uncorrected and undetected misstatements exceeds materiality for the financial statements as a whole. It is typically set at 50% to 75% of overall materiality depending on risk.
8A certified auditor is planning the statutory audit of a Croatian commercial distributor. Total revenues are €10,000,000, profit before tax is €600,000, and total assets are €5,000,000. Using standard benchmark ranges (npr. 5% of profit before tax), what is an appropriate overall planning materiality (ukupna značajnost)?
A.€300,000
B.€30,000
C.€1,000,000
D.€5,000
Explanation: Applying the common industry benchmark of 5% of profit before tax (€600,000 × 5%), overall materiality is €30,000. Alternatively, 0.5% to 1% of revenue would yield €50,000 to €100,000. €30,000 is a standard, prudent planning materiality for a profit-oriented commercial company.
9Under ISA 500 (Audit Evidence), which of the following sources of audit evidence is generally considered the most reliable by the auditor?
A.Evidence obtained directly by the auditor from independent external sources outside the entity (such as direct bank confirmations)
B.Oral representations made by the company's chief accountant during a lunch meeting
C.Photocopies of internal purchase orders prepared by the warehouse keeper
D.Unsigned management estimates of inventory scrap value recorded in a private spreadsheet
Explanation: Under ISA 500.A31, the reliability of audit evidence is influenced by its source and nature: (1) evidence obtained from independent external sources is more reliable than internal evidence; (2) evidence obtained directly by the auditor is more reliable than evidence obtained indirectly; and (3) documentary evidence in original form is more reliable than oral representations.
10Under ISA 501 (Audit Evidence — Specific Considerations for Selected Items), what is the auditor's mandatory procedure if inventory is material to the financial statements?
A.The auditor must instruct customs officials to impound the warehouse until the audit is signed
B.The auditor must personally recount 100% of all warehouse stock items on the balance sheet date
C.The auditor may rely entirely on management's verbal confirmation without inspecting the warehouse
D.The auditor must attend the physical inventory counting (prisustvovanje popisu zaliha) unless impracticable
Explanation: Under ISA 501.4, if inventory is material to the financial statements, the auditor must obtain sufficient appropriate audit evidence regarding its existence and condition by attending physical inventory counting (prisustvovanje godišnjem popisu zaliha), evaluating management's instructions, observing the counting procedures, inspecting the inventory, and performing test counts.

About the Ovlašteni revizor Exam

In Croatia a person becomes an ovlašteni revizor by passing the osnovni revizorski ispit and receiving the odobrenje za rad issued by the Ministry of Finance under Article 7 of the Audit Act (Zakon o reviziji, Narodne novine br. 127/17, 27/24, 85/24, 145/24, 151/25). Under Article 11(7) a candidate must hold at least 300 ECTS credits and have four years of statutory-audit work experience gained under an employment contract with an audit firm and under the supervision of a certified auditor within the preceding eight years. The examination is organised by the Croatian Audit Chamber (Hrvatska revizorska komora — HRK) under the Pravilnik o revizorskom ispitu, posebnom ispitu i ispitu osposobljenosti (NN 107/24) and an annual programme approved by the Ministry of Finance. It comprises five written module tests covering accounting and valuation, auditing standards and ethics, business economics and internal control, law, and taxes and contributions, with a separate examination for assurance of sustainability reporting. This page provides independent English-language practice questions by OpenExamPrep covering the statutory and professional knowledge examined in those modules.

Exam sponsor: Hrvatska revizorska komora (HRK) organises and conducts the examination; Ministarstvo financija Republike Hrvatske gives prior consent to the programme, supervises the profession and issues the licence. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Five module tests: Modul 1 Računovodstvo, analiza financijskih izvještaja i procjena vrijednosti poslovnih cjelina; Modul 2 Revizija – propisi, pravila i praksa revidiranja; Modul 3 Poslovna ekonomija i makroekonomija za revizore; Modul 4 Pravo za revizore; Modul 5 Porezi i doprinosi. Modul 1 is sat first and Modul 2 second, and until both are passed a candidate may not sit the remaining modules. All five must be completed within 60 months of publication of the candidate list. A separate revizorski ispit za održivost covers assurance of sustainability reporting.

Time Limit

240 minutes each for Modul 1 and Modul 2; 120 minutes each for Modul 3 and Modul 4; 180 minutes for Modul 5

Passing Score

70% of the available points in every module of the 2026 programme — 70/100 in Modul 1 and Modul 2, 35/50 in Modul 3 and Modul 4, and 56/80 in Modul 5. Each test is graded 'položio' or 'nije položio', and a failed module may be re-sat.

Exam / Certification Fees

€300 Modul 1, €300 Modul 2, €200 each for Modul 3, Modul 4 and Modul 5 — €1,200 in total; €250 for the revizorski ispit za održivost

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

100 of 380 points (about 26%) — Modul 1

Računovodstvo, analiza financijskih izvještaja i procjena vrijednosti poslovnih cjelina

General accounting theory, the rules and standards for annual and consolidated financial statements, MSFI and HSFI (65% of the module), non-profit and budget accounting, reporting for HNB- and HANFA-supervised entities, cost and management accounting, and financial statement analysis and business valuation.

100 of 380 points (about 26%) — Modul 2

Revizija – propisi, pravila i praksa revidiranja

Audit regulations and professional standards, professional ethics and independence (15%), International Standards on Auditing including audit methodology (50%) and quality management (10%), other assurance services, audits of supervised financial institutions, and information technology and information systems auditing (10%).

80 of 380 points (about 21%) — Modul 5

Porezi i doprinosi

Tax law (80% of the module): Opći porezni zakon and administrative procedure, corporate profit tax, personal income tax, VAT, other direct and indirect taxes, and international tax basics. Social law (20%): pension and health insurance in Croatia and EU social security coordination.

50 of 380 points (about 13%) — Modul 3

Poslovna ekonomija i makroekonomija za revizore

Economics relevant to audit, corporate financial management, risk management and internal control, financial analysis, and the mathematics and statistics an auditor applies in sampling and analytical procedures.

50 of 380 points (about 13%) — Modul 4

Pravo za revizore

Company law and corporate governance (30%), bankruptcy and similar proceedings (15%), civil and commercial law (25%), prevention of money laundering and terrorist financing (15%), and labour law (15%).

Separate examination outside the five modules

Revizorski ispit za održivost

Sustainability reporting requirements and standards, sustainability analysis, due diligence on sustainability matters, and the assurance of sustainability reporting, introduced by the CSRD transposition in NN 27/24 and NN 85/24.

Preparing for the Ovlašteni revizor Exam

What You Need to Know

  • Passing score: 70% of the available points in every module of the 2026 programme — 70/100 in Modul 1 and Modul 2, 35/50 in Modul 3 and Modul 4, and 56/80 in Modul 5. Each test is graded 'položio' or 'nije položio', and a failed module may be re-sat.
  • Assessment: Five module tests: Modul 1 Računovodstvo, analiza financijskih izvještaja i procjena vrijednosti poslovnih cjelina; Modul 2 Revizija – propisi, pravila i praksa revidiranja; Modul 3 Poslovna ekonomija i makroekonomija za revizore; Modul 4 Pravo za revizore; Modul 5 Porezi i doprinosi. Modul 1 is sat first and Modul 2 second, and until both are passed a candidate may not sit the remaining modules. All five must be completed within 60 months of publication of the candidate list. A separate revizorski ispit za održivost covers assurance of sustainability reporting.
  • Time limit: 240 minutes each for Modul 1 and Modul 2; 120 minutes each for Modul 3 and Modul 4; 180 minutes for Modul 5
  • Exam / certification fees: €300 Modul 1, €300 Modul 2, €200 each for Modul 3, Modul 4 and Modul 5 — €1,200 in total; €250 for the revizorski ispit za održivost Official sources

Using Our Practice Resources

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Ovlašteni revizor: Suggested Study Strategy

1Work through the official Program revizorskog ispita published by HRK for the calendar year in which you will sit: it lists the areas, learning outcomes, point weights and compulsory literature for every module.
2Modul 1 is dominated by MSFI and HSFI, which carry 65% of its 100 points — prioritise recognition, measurement, impairment, consolidation and financial instruments over peripheral topics.
3In Modul 2, audit methodology under the International Standards on Auditing carries 50% of the points, with professional ethics and independence at 15% and information systems auditing at 10%.
4Do not neglect Modul 5: taxes and contributions carry 80 points, more than Modul 3 or Modul 4, and the tax law area alone is 80% of that module.
5Learn the Opći porezni zakon procedure as it now stands: since 1 January 2025 Article 108 sets a single six-year limitation period for assessment, collection and refund, replacing the former three-year relative and six-year absolute scheme.
6Know the domestic reverse charge list in Article 75(3) of the Zakon o PDV-u — construction services, waste and recyclable material, opted-in immovable property, property sold in enforcement, emission allowances, and reinforcing steel — and the 5-year and 10-year input tax adjustment periods in Article 64.
7For corporate profit tax, memorise the Article 7(1) add-backs: 50% of entertainment costs (point 3) and 50% of personal transport costs excluding insurance and interest (point 4), plus the five-year loss carryforward in Article 17(2).
8Modul 4 rewards precision on the Companies Act share-capital minimums, the ZOO limitation periods, insolvency grounds under the Stečajni zakon, and the AML and labour law areas that together carry 30% of the module.

Frequently Asked Questions

What is an 'ovlašteni revizor' in Croatia?

An ovlašteni revizor is a certified auditor who holds the odobrenje za rad issued by the Ministry of Finance under Article 7 of the Zakon o reviziji. The licence is granted to a person who has passed the osnovni revizorski ispit and meets the good-repute test in Article 10, and it permits statutory audits of annual and consolidated financial statements and other audit services.

Who administers the auditor examination in Croatia?

The Croatian Audit Chamber (Hrvatska revizorska komora — HRK) organises and conducts the examination under Article 11.a of the Zakon o reviziji and the Pravilnik o revizorskom ispitu, posebnom ispitu i ispitu osposobljenosti (NN 107/24). HRK appoints the Examination Commission and sets the annual programme, fees and pass thresholds, each with the prior consent of the Ministry of Finance, which is the competent authority for public oversight.

What are the eligibility requirements to sit the exam?

Article 11(7) of the Zakon o reviziji requires a candidate to have completed at least an undergraduate and graduate university study, an integrated study, or a professional undergraduate and graduate study worth at least 300 ECTS credits (or a university study conferring visoka stručna sprema), and to have four years of statutory-audit work experience gained under an employment contract with an audit firm and under the supervision of a certified auditor within the last eight years. Under Article 13(2), preparatory professional training for the examination is not compulsory.

What is the examination format and schedule?

The osnovni revizorski ispit consists of five written module tests, printed on paper and sat without access to literature; a pocket calculator is allowed and communication devices must be handed in. There is no oral component. Modul 1 is sat first and Modul 2 second, and the remaining modules may be taken in any order once both are passed. HRK publishes the exam dates in the annual programme; the 2026 schedule includes September and a 23–27 November sitting covering Modul 1 through Modul 5, with the sustainability examination on 27 November.

What score is required to pass each module?

Under Article 14(1) of the Pravilnik, HRK prescribes the pass threshold for each module. In the Program revizorskog ispita za 2026. the threshold is 70% for every module: 70 of 100 points in Modul 1 and Modul 2, 35 of 50 points in Modul 3 and Modul 4, and 56 of 80 points in Modul 5. A candidate who fails a module test may re-sit that module, and all five must be completed within 60 months.

How did the 2024 Audit Act amendments affect the exam and qualification?

NN 27/24 and NN 85/24 transposed the EU Corporate Sustainability Reporting Directive. Article 11(2) now splits the auditor examination into the osnovni revizorski ispit and a separate revizorski ispit za održivost, and Article 7(3) provides for a distinct Ministry of Finance licence for the assurance of sustainability reporting. The register of certified auditors records whether an auditor holds that licence. The amendments also removed the earlier requirement to complete professional training before sitting the examination.

How does this practice bank relate to the official auditor examination?

The official examination is sat in Croatian and uses closed single-best-answer items, closed matching and sequencing items, and open items answered in a few words or with a numeric calculation. This practice bank is an independent English-language multiple-choice study adaptation by OpenExamPrep. It covers the statutory and professional subject matter of the five modules while preserving Croatian legal and technical terminology, but it is not an official translation and does not reproduce the official paper, its item types, or its point scoring.