Audit Reform Has Started!
Author:
Univ. Prof. Horia NEAMȚU, Ph. D.
JEL:
M 42
DOI:
Keywords:
reform, European institutions, impact study, oversight, audit market
Abstract:
The financial auditor profession is marked by the European Parliament adoption of the Directive amending the Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts and of the Regulation on specific requirements regarding the statutory audit of public-interest entities, meant to lead to a European level reform of the financial audit activity.\r\nThe comments we are publishing in this journal edition will review the main changes brought about by these norms, as well as some of the most important issues related to their application. It is certain that this reform, in terms of its new provisions, but especially in what regards the practical application of the measures established, provides for an extended field of action favoring the expression of professional expertise, as well as the scientific research on future phenomena. In this context, at the end of our comments, the Romanian professional organization – the Chamber of Financial Auditors – manifests its intention to put its technical resources to use for facilitating the assimilation process of new regulations.\r\n