PROBLEMATIC ASPECTS REGARDING CREATION OF SYSTEM FOR SUPERVISION OF ACTIVITY AND QUALITY OF AUDIT WORKS

Diana Rencheci ()
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Diana Rencheci: Academy of Economic Studies of Moldova, Republic of Moldova

European Journal of Accounting, Finance & Business, 2021, vol. 16, issue 26, 27-32

Abstract: While aligning the audit legislation to the norms and standards of the European Union, the Republic of Moldova has adopted new laws and regulations to increase the effectiveness of the audit system and therefore increase the quality of audit works. This article highlighted and described some issues from this domain, such as the need to establish benchmarks for determining the duration of external control of audit quality and the number of verified audit dossiers, the need to develop sanctions for auditors or audit entities that did not highlight serious frauds and the ensuring of transparency in the activity of council and audit entities for the prevention of frauds in the financial and banking system. The opinions of scientists in the field, as well as the provisions of legislation in force, were analyzed in order to formulate the conclusions and recommendations related to solving the mentioned problems.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:scm:ejafbu:v:16:y:2021:i:26:p:27-32

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