The scope of this course are uniform rules related to performing accounting and audit professions worldwide, with focus on the regulation relevant for performing these professions in the Republic of Macedonia. The Course provides the students with basic knowledge of the legal system/s, laws, by-laws, and the legal implications of transactions in the environment. The students should be able to develop an understanding about companies and specifics related to founding, operation and closing of companies in the Republic of Macedonia, about obligations (more specifically contracts, types of contracts, etc.), about operations with securities, etc. More specific areas of attention are going to be structured closely following the directions from the (Global) Association of Chartered Certified Accountants.