The financial audit is the activity performed by the financial auditors in order to express an opinion on the financial statements or their components, carrying out other insurance missions and professional services according to the international audit standards and other regulations adopted by the Chamber of Financial Auditors in Romania.
Most of the time, the financial audit is carried out as a result of a legal requirement (for companies that meet certain criteria). It is very likely that shareholders will want to conduct a financial audit, even if it is not a legal obligation. In Romania, the audit is regulated by the Accounting Regulations regarding the individual annual financial statements and the consolidated annual financial statements from 29.12.2014.
In addition to the regulation mentioned above, other normative acts that apply to the audit are:
– Law 162/2017 regarding the statutory audit of the annual financial statements and the consolidated annual financial statements and amending some normative acts;
– Emergency Ordinance no. 75/1999, with subsequent revisions and modifications, regarding the financial audit activity;
– Law no. 26/2010 for amending and supplementing the Government Emergency Ordinance no. 75/1999 regarding the financial audit activity;
– Directive 2006/43 / EC of the European Parliament and of the Council regarding the statutory audit; Emergency ordinance. 99/2006 on credit institutions and capital adequacy;
– Order of the Ministry of Public Finance no. 1.121 / 2006 regarding the application of International Financial Reporting Standards;
– Accounting Law no. 82/ 1991;
– Law no. 93/2009 regarding non-banking financial institutions.
The EUROM team provides you with auditors who have the qualifications required to provide financial audit services and can help you manage the company correctly and efficiently.