Organization of the Statutory Audit of Financial Statements in Romania

Gabriela-Felicia Ungureanu

Studies and Scientific Researches. Economics Edition, 2010, issue 15

Abstract: Economic entities around the world, regardless of their membership - public or private sector - the size, the object of activity, prepare financial statements for presentation of financial information users (investors, creditors, customers, suppliers, public institutions). The financial statements provide information about financial position, performance and changes in financial position of an entity - information underlying to base decision process. For Romania, the financial audit was not a tradition. Recognized as a top area of the accounting profession, financial audit was legislated in 1999. Statutory audit, audit of annual financial statements or consolidated annual statements have been established 9 years later (Emergency Regulation no. 90 June 24, 2008), by transposing Directive 2006/43/EC of 17 May 2006 of the European Parliament and of Council on statutory audit of annual accounts and consolidated accounts, in order to ensure oversight of auditors, in the public interest.

Keywords: statutory audit; financial statements; decisions; management; public interest entities; "International Standards on Auditing. (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2010
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://sceco.ub.ro/DATABASE/repec/pdf/2010/20101530.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bac:fsecub:10-15-30

Access Statistics for this article

More articles in Studies and Scientific Researches. Economics Edition from "Vasile Alecsandri" University of Bacau, Faculty of Economic Sciences Contact information at EDIRC.
Bibliographic data for series maintained by Bogdan Nichifor ().