Rigors in credit institution audit and in listed companies audit

Author:Ahmed HASSAN

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Keywords:annual reviews, related services, consolidated financial statements, informational infrastructure

Abstract:
In the Romanian legislation the public interest entities are defined as credit institutions, insurance companies, entities regulated and supervised by the National Commission for Securities (CNVM), state owned companies, companies preparing financial reporting. These public interest entities should have statutory audit. \r\n\r\nThis audit means review of the financial statements and of annual accounts, financial statements prepared in accordance with the requirements of the regulatory and supervising public institutions. The compulsory audit refers not only to the financial statements audit and review, but also to other related services as, for example, review of other financial statements, reports on some components of the financial statements audit of obervance the rules and legislation or of the observance of the credit clauses. \r\n\r\nSo, when we discuss about audit, we don’t mean only the financial statements audit, but a whole series of statements which need an audit and for which reports are issued.

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