Updating and Developing the Normative Framework for Strengthening the Internal Public Audit Function in State Institutions and Companies

Nicoleta Asalos () and Ionel Bostan ()
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Nicoleta Asalos: “Ovidius” University of Constanta, Faculty of Economic Sciences, Romania
Ionel Bostan: “Stefan cel Mare” University of Suceava, Doctoral School of Economics, Romania

Ovidius University Annals, Economic Sciences Series, 2023, vol. XXIII, issue 2, 614-622

Abstract: In Romania, nearly 14,000 institutions and various state entities are subject to internal public audit. Among these, about 90% belong to local public administration. A recent report by the Romanian Ministry of Finance categorizes the auditable entities as follows: 21 ministries; 1,456 units subordinate to the ministries; 45 autonomous administrative authorities (including those with special reporting formats); 173 units subordinate to autonomous administrative authorities; 982 local administrative units and 5,713 entities subordinate to local administrative units. The legislation required internal public audit departments to carry out specific missions on the entity's activities at least once every three years; subsequently, a new amendment extends this period to four years. Our approach focuses not only on the findings of the internal public audit structures within the institutions and state-owned companies in Romania, reported on established objectives, but also on some legislative changes reflecting the updating and development of the regulatory framework to strengthen the internal public audit function.

Keywords: normative framework; internal public audit; public authorities; audit structures (search for similar items in EconPapers)
JEL-codes: D73 H83 H89 M42 M48 (search for similar items in EconPapers)
Date: 2023
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