CONNECTING THE AUDIT ACTIVITY IN THE REPUBLIC MOLDOVA TO THE NEW QUALITY REQUIREMENTS

Anatolie Iachimovschi () and Svetlana Mihaila ()
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Anatolie Iachimovschi: Academy of Economic Studies of Moldova, Moldova
Svetlana Mihaila: Academy of Economic Studies of Moldova, Moldova

European Journal of Accounting, Finance & Business, 2024, vol. 12, issue 1, 3-9

Abstract: Reforms in the audit sector in the Republic of Moldova have been marked by a series of regulatory developments in line with international regulations. The current efforts of domestic audit firms to meet the requirements of professional standards in the field, which have been significantly revised in recent years in terms of quality assurance, are a challenge for the business environment. And the traditional linear approach to the concept of internal control in audit can no longer meet today's requirements of a modern quality system. This research aims at highlighting directions for improvement of audit activity in the Republic of Moldova under the new quality requirements. The investigations in question constitute empirical research in the context of the modernization of domestic audit by examining the performance of engagements in line with current audit quality requirements. The research results underline the importance of regulatory reforms to increase the prestige and professionalism of domestic auditing by linking it to international standards.

Date: 2024
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