Services audit

This activity is being performed according to the International Standards for Audit (ISA) and/or the Romanian Standards for Audit, complying with the regularization requests imposed by the specific legislation. The purpose of this activity is to express an independent opinion according to the quality criteria.

No matter if it is imposed or voluntary, the audit of the annual financial activities make the entities subjects to severe, objective and systematic tests. The result: the identification of risks which may affect the future of an entity and finding solutions in order to diminish and avoid those risks.

Financial Audit

What is the financial audit?

"The financial audit represents an independent professional examination of the annual financial situation of an entity with the purpose of expressing an opinion for audit."

The services of financial audit include:

Financial audit imposed by the national legislation regularizations;

According to the Romanian law, the situations in which the companies have to perform a financial audit are defined by art. 5 from the OMF 1752/2005 which adopts in Romania the accountancy regularizations which are according to the European Directives, starting from 2006. This law text defines two situations which impose the audit:

1) Size criteria (defined by art. 3 of the same law): if two of the following 3 criteria are complied to when opening a financial exercise:
a. Total assets beyond 3.650.000 EUR;
b. The net business figure overcomes 7.300.000 EUR;
c. Medium number of employees during the financial exercise: more or equal to 50;
2) The public companies (defined in the Order 907 from 2005):
a. The credit companies;
b. The insurance companies;
c. The entities regularized