Concrete steps for transposing the European regulations into the Romanian legislation

Author:PhD Georgeta PETRE

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Keywords:implementation, audit, financing sources, deadline, neutrality, independence

Abstract:
In her speech, Mrs. Georgeta Petre discussed about transposing the new Eighth Directive on the statutory audit for annual accounts and consolidated accounts (Directive 2006/43/CEE) into the Romanian legislation. Some provisions of the new Eighth Directive should be compulsorily implemented, other are optional, leaving for the Member States to decide how they will implement these into the national legislation. \r\n\r\nThe stage for the Eighth Directive implementation into the national legislation will be followed by the factual implementation of the provisions. \r\n\r\nMoreover, the Eighth Directive implementation and application means to create an adequate institutional framework and structural changes to the existing professional bodies.

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