Considerations regarding the cooperation between the banking supervision authority, the external auditor and audit committee

Author:Univ. Prof., PhD Vasile DEDU, Univ. Prof., PhD. Victoria STANCIU

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Keywords:banking supervision authority, external auditor, audit committee, financial statements

Abstract:
The supervision authorities must follow the changes that took place within the bank’s activity and the manner in which these changes should have reflected or in which they had impact on the financial results. Therefore the changes referring to the transformations in the banking environment, in the employment of new personnel, in the IT system, areas of activity marked by a rapid progress through the development of new technologies or new products, the expansion of the operations abroad must be followed attentively. \r\nA special attention is given to the financial statements and risks’ monitor. The present paper presents the authors’ opinion regarding the relation and cooperation between the supervision authority (NBR), the external auditor and the audit committee regarding the financial statements reporting process.\r\n

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