Audit in Romania

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Find out how an audit is performed in Romania. More details you may find at http://www.romanian-accountants.com/performing-an-audit-in-romania

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Audit in Romania

  1. 1. Audit in Romania Romanian Accountants
  2. 2. What is an audit? The audit represents an inspection of financial reports of an organization by a professional or an entity specialized in this field. The auditor evaluates objectively the compliance with the procedures and the implementation of the financial measures.
  3. 3. Accounting and auditing Our Romanian Accountants are specialized in audit procedures and they can make an audit at your company whenever you are interested to evaluate the risk management or control the financial activity. They always work in accordance with the International Standards on Auditing (ISA).
  4. 4. What is the goal of the audit? The audit is made in order to find out if the financial report of an organization reflects the proper situation of the entity in that moment. After you read the report of the auditors, you can decide what changes must be done for the benefit of your company.
  5. 5. How the auditors work? When you order an audit, you can’t expect the auditors to verify every single figure in the financial report, because they use selective testing procedures. The auditor will not identify all the irregularities in an organization, they will offer an overview of the financial situation.
  6. 6. What is the obligation of the company management? After ordering an audit, the management of the company must prepare the financial report in accordance with the legal and financial standards. The directors of the company have the approve the financial report.
  7. 7. Discussion with the management The auditors will not only verify the financial documents. Firstly, they discuss with the company management about the activity field of the firm, risks and other major problems.
  8. 8. Information for the auditors From the beginning of the audit, the auditors may ask a lot of questions, from different fields, in order to find out relevant information about the economic activity of the firm. They will analyze the financial report and other important financial documents.
  9. 9. What documents are necessary? - financial report - ledgers - bank statements - payroll - official published reports - tax information - internal financial report - accountants payable - accountants receivables
  10. 10. Audit services offered in Romania We offer audit services for: - companies which are required to do an annual audit of the financial statements; - managers interested in the audit report in order to obtain loans; - firms in which investors want to trade shares or stocks.
  11. 11. Are you looking for audit services? Our Romanian Accountants perform audit services to local and international clients who run different types of businesses in Romania. You may read more information at www.romanian-accountants.com

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