Audit - General information

Financial audit, Audit services, Reinvent Consulting

Auditor's Report reflects his opinion on how the company's financial situation is elaborated and covered in the accountancy, in an impartial and credible form, respecting the industry standards. Such a task requires not only complex accounting expertise and methodology but also significant resources such as time and technology.

Auditors are the professional elite in the field. They operate in accordance with the professional ethics and law standards, being enrolled as members in the Chamber of Auditors. Auditors - tax experts in the field of financial accounting - have both a high level of theoretical knowledge as well as field practice and recognition as professionals with special competencies.

The financial audit is the activity of checking the companies` financial statements by auditors, in accordance with international audit standards. It has the following objectives: verification of compliance with the conceptual framework of accounting, as well as verification and certification of financial statement, reflecting these are clear and complete, during the entire fiscal year, over-valuation of assets and revenues as well as, respectively, under-evaluation of liabilities and expenses are not to be admitted. In order to express an objective opinion financial auditors must meet the conditions provided by law.

The applicable legal framework:

  • Emergency Ordinance no. 75 of 1 June 1999 regarding the financial audit activity,
  • Law no. 133 of 19 March 2002 approving Government Emergency,
  • Government no. 75/1999 regarding the financial audit activity,
  • Emergency Ordinance no. 67 of 29 August 2002 amending and completing the Government Emergency Ordinance no. 75/1999 regarding the financial audit activity,
  • Government Decision no. 983 of June 25, 2004 for the approval of the Regulations organization and functioning of the Chamber of Financial Auditors in Romania,
  • Law no. 12 of 9 January 2003 approving Government Ordinance no. 67/2002 amending and completing the Government Emergency Ordinance no. 75/1999 regarding the financial audit activity,
  • Emergency Ordinance no. 90 of 24 June 2008 on statutory audits of the annual financial statements, and consolidated annual financial statements,
  • Law no. 82 of 24 December 1991 modified republished in 2008 the Accounting Law etc.

Services

Audits are essential in:

  • Adopting  significant economic decisions,
  • Adopting the decision concerning the value of buying / selling of a business,
  • Screening and assessing potential management deficiencies,
  • Evaluation of loan guarantees,
  • Calculating the profits and dividends distribution etc.

Audit services provided by our auditors meet the objectives of: Credibility and Professionalism, High-quality services, Trust, as well as the fundamental principles of independence and integrity, objectivity, professional competence and care, confidentiality, technical standards, professional conduct – all required by norms in the field.

Auditors with extensive experience are available for:

  • Statutory audit,
  • Financial audit,
  • Internal audit based on risk analysis,
  • Consulting,
  • Certifications.

Tariffs

The audit engagement is based on a contract that fully complies with: the law resolutions and regulations of the Chamber of Financial Auditors of Romania, the general framework and presentation of financial statements, developed by the IASC and the International and National Accounting Standards.

The fee will be calculated considering the price / hour (or day) per person employed in the mission. Any associated costs related to carrying out professional services (transportation, accommodation, etc.) will be covered by the client in addition to the professional fees. For assessing your case and determine the fees, please contact us by phone or e-mail in order to appoint a meeting.