Audit Conservatism Versus Unique Regulation of Financial Markets in Romania

Pepi Miticã () and Nicolae Traian Cristin ()
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Pepi Miticã: Faculty of Economic Sciences, University “OVIDIUS”, Constantza, Romania
Nicolae Traian Cristin: Faculty of Economic Sciences, University “OVIDIUS”, Constantza, Romania

Ovidius University Annals, Economic Sciences Series, 2013, vol. XIII, issue 1, 1420-1425

Abstract: The theme of our research is related to the new type of relationship between financial audits (statutory) and unique regulation of financial markets in Romania. Recent developments in the regulation of financial markets require a new perspective on the role and place of financial audit in Romania. The main elements of our study are: the relationship between the audit committee and regulatory authority; quality of financial reporting for financial market entities. In this case, financial regulation can coexist with compliance audit. For those synergies to be real we felt that our research must answer the questions on the link between financial auditor independence and audit committee role with financial reporting quality.Our research results show the high importance of the audit committee in ensuring the high quality of financial reporting in the financial markets and seeks to identify potential points of conflict between audit conservatism and unique market regulation.

Keywords: audit conservatism; financial markets; regulatory authority; audit committee; financial reporting. (search for similar items in EconPapers)
JEL-codes: M42 M48 (search for similar items in EconPapers)
Date: 2013
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