About intellectual forgery in romanian accounting law

Although it is the only criminal offence stipulated by accounting law, forgery foreseen by article 43 of Accounting Law no. 82/1991, republished, represents a special variant of the criminal offence foreseen by article 289 of the Criminal Code, and, in this context, we discuss about a text conjuncture and not about a conjuncture of criminal offences. The provisions of the Criminal Code will be mentioned only as regards the applicable penalty (6 months to 5 years). Article 43 contains an incrimination specific to the area covered by the special law, and the description of the elements of criminal offence is complete.accounting, intellectual false, true and fair view, crime

Opinions on allocation of profit carried forward to dividends

In our opinion, the allocation of profits carried forward to dividends complies with the legal requirements in this field, as long as these results arise from current profits of previous financial years. However, an adverse aspect for companies is related to taxation of this subsequent distribution, due to the risk that tax authorities might reclassify this operation and, implicitly, apply penalties for late payment of dividends, starting with the 1st of January of the financial year following the one in which the carry forward of the profits of the previous financial year has been approved, and until the payment of related tax.result carried forward, dividends, general meeting of shareholders, dividend tax

The role of financial auditor in detecting and reporting fraud and error

Responsibility for preventing and detecting fraud rest with management entities. Although the auditor is not and cannot be held responsible for preventing fraud and errors, in your work, he can have a positive role in preventing fraud and errors by deterring their occurrence. The auditor should plan and perform the audit with an attitude of professional skepticism, recognizing that condition or events may be found that indicate that fraud or error may exist. Based on the audit risk assessment, auditor should develop programs to audit procedures by which to obtain reasonable assurance that the financial statements in their entirety, all significant errors and fraud have been identified. It is expected that the auditor to implement procedures that will lead to the discovery of errors or fraud without significant impact on the financial statements can not be held responsible for undetected such irregularities. The auditor should communicate with the management of his client. He should ask the management information concerning any significant fraud or error has been detected in order to detect key problems that could lead to certain activities, the implementation of audit procedures more than usual However the auditor faces the risk inevitable that some significant errors to be detected, even if the audit is planned and done properlyfraud, error, tests, audit

OPINIONS ON ALLOCATION OF PROFIT CARRIED FORWARD TO DIVIDENDS

In our opinion, the allocation of profits carried forward to dividends complies with the legal requirements in this field, as long as these results arise from current profits of previous financial years. However, an adverse aspect for companies is relatedresult carried forward, dividends, general meeting of shareholders, dividend tax

DETECTING AND REPORTING THE FRAUDS AND ERRORS BY THE AUDITOR

Responsibility for preventing and detecting fraud rest with management entities.Although the auditor is not and cannot be held responsible for preventing fraud and errors, in yourwork, he can have a positive role in preventing fraud and errors by deterring their occurrence. Theauditor should plan and perform the audit with an attitude of professional skepticism, recognizingthat condition or events may be found that indicate that fraud or error may exist.Based on the audit risk assessment, auditor should develop programs to audit procedures by whichto obtain reasonable assurance that the financial statements in their entirety, all significant errorsand fraud have been identified. It is expected that the auditor to implement procedures that willlead to the discovery of errors or fraud without significant impact on the financial statements cannot be held responsible for undetected such irregularities.The auditor should communicate with the management of his client. He should ask the managementinformation concerning any significant fraud or error has been detected in order to detect keyproblems that could lead to certain activities, the implementation of audit procedures more thanusual However the auditor faces the risk inevitable that some significant errors to be detected, evenif the audit is planned and done properly.fraud, error, tests, audit

OFFSETTING – A METHOD OF SETTLING OBLIGATIONS OF LEGAL ENTITIES

Offsetting is a specific method of settling mutual obligations, where the same persons are at the same time creditor and debtor one to another, and by means of which obligations are settled up to the smallest value. Offsetting of mutual obligations is a common way of settling debts, especially in the economic crisis marked by lack of liquidity, among others. There are different offsetting procedures provided by Romanian legislation, according to residence, size of offset amount and state’s involvement in the transaction. The analysis of each offsetting situations encountered in the practice of Romanian legal entities, highlights a series of particularities that should be properly considered for their validation.offsetting, residents, non-residents, obligations

The influence of subsequent events on the opinion of the financial auditor

The financial auditor is responsible for formulating and expressing an opinion on the financial statements. To this end and taking the listener to plan and define the audit approach, to perform tests of controls and tests on nouns transactions, to perform analytical procedures and tests detailed accounting balances and preparing the report audit. The conclusion of this report is represented by the views of the financial auditor. The auditor is responsible to perform audit procedures finally provide audit evidence sufficient and adequate for the fact that all events occurred before the date of the audit report is requesting the adjustment of financial statements is the presentations in the explanatory notes have been identified. Therefore, subsequent events or have no influence or impact on the auditor's opinion? It is a question whose answer we try to give you the following pages.événement ultérieur, obligation contingente, preuve d’audit, opinion de l’auditeur, responsabilité

About intellectual forgery in romanian accounting law

Although it is the only criminal offence stipulated by accounting law, forgery foreseen by article 43 of Accounting Law no. 82/1991, republished, represents a special variant of the criminal offence foreseen by article 289 of the Criminal Code, and, in this context, we discuss about a text conjuncture and not about a conjuncture of criminal offences. The provisions of the Criminal Code will be mentioned only as regards the applicable penalty (6 months to 5 years). Article 43 contains an incrimination specific to the area covered by the special law, and the description of the elements of criminal offence is complete

RISK MANAGEMENT’S IMPORTANCE AND ROLE IN AUDIT

The importance of treating this theme is proved by the current situation that economy and the entities activating on the market are confronted with. Risk is present in all the actions and event of humanity. Risk is in a permanent change, it evolves in complexity, among the traditional exposures to hazard other risks are added: operational, financial, strategic, market, country, legal, human, fraud risks and its complex character can be attributed to a range of factors that are grouped by the specialized literature in macroeconomic factors, also called extern, and microeconomic factors, also called intern. In the last few years, the importance of the corporate governance involvement in risk management is more and more recognized. The organizations are under the pressure of identifying all risks that it is confronted with starting with social risks, ethical and environment risks to those financial and operational, and also to the way it manages them at an acceptable level. In the same time, using integrated risk management procedures and politics at enterprise level (ERM-Enterprise Risk Management) has extended, in this way organizations are admitting the risk management approach advantages. The internal audit, in both his roles of providing assurance and consultancy, contributes to risk management in various ways, its importance being increasing due to the current financial crisis. For the financial auditor the term of risk has other senses, meaning that risks are regarded through the mission type and objectives. But still, identifying and measuring audit risks during the mission’s planning are strong connected to the existing risk management of the entity. In this way, if the audited entity has an implemented risk management that is proved to be efficient, this will represent a starting point for the auditor in evaluating the risks connected to his engagement, meaning that the general audit risk will be lower and the assurance level will be higher. More than that, an efficient enterprise risk management determines a higher level of trust in the internal audit department’s activity.Risk, risk management, internal audit, audit risk, efficiency

L’influence des evenements ulterieurs sur l’opinion de l’auditeur financier

The financial auditor is responsible for formulating and expressing an opinion on the financial statements. To this end and taking the listener to plan and define the audit approach, to perform tests of controls and tests on nouns transactions, to perform analytical procedures and tests detailed accounting balances and preparing the report audit. The conclusion of this report is represented by the views of the financial auditor. The auditor is responsible to perform audit procedures finally provide audit evidence sufficient and adequate for the fact that all events occurred before the date of the audit report is requesting the adjustment of financial statements is the presentations in the explanatory notes have been identified. Therefore, subsequent events or have no influence or impact on the auditor's opinion? It is a question whose answer we try to give you the following pages