THE ACTIVITY OF FINANCIAL AUDIT IN ROMANIA

Laura-Alexandra Mortura ()
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Laura-Alexandra Mortura: „1st of December 1918” University of Alba Iulia, Romania

Contemporary Economy Journal, 2018, vol. 3, issue 2, 65-72

Abstract: In a market economy in the midst of the globalisation era, being in a continuous evolution and being influenced by all the modifications which take place world widely, from an economical, political, social and technological point of view, the activity of financial audit is used as an instrument for increasing the level of trust of the users of economic information, provided by the entities which produce these information. Worldwide, there are organisations of accounting profession, specialized in adapting it to the new requirements which appear in the society, for keeping and increasing the level of trust of the users of the information provided by the entities. Such an organisation is The International Federation of Accountants (IFAC) which, through its projects, identifies the areas which require improvements within the accountant profession, thus responding to the public needs. In Romania, the professional organisation which is identified with the activity of financial audit, being a member of IFAC, which has as objective the continuous development of the financial auditor profession, and which offers a high level of trust in the activity that they develop by assimilating the International Audit Standards, and the Code of Ethics of Accounting Professionals provided by IFAC and ensuring the assimilation of all legislative modifications which appear in the European Union, is the Chamber of Financial Auditors in Romania (CFAR).

Keywords: audit; financial audit; statutory audit; CFAR (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2018
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