DELEGATION OF TASKS
- The delegation of tasks and the conditions for delegating tasks are governed by Article 52 of Law No 162/2017.
- ASPAAS oversees the performance of the delegated tasks through effective and continuous monitoring.
- In exercising its powers, ASPAAS has the right to request from CAFR any information necessary to achieve the objectives pursued in relation to the delegated or supervised activities.
- One or more tasks may be delegated provided that CAFR complies with at least the following conditions:
a) reporting annually, or whenever ASPAAS considers it necessary, on the manner in which the delegated task or tasks are performed;
b) ensuring working conditions for ASPAAS staff who oversee and monitor the performance of the delegated task or tasks, including access to information and communication with CAFR employees;
c) applying the regulations in the delegated field;
d) cooperating with ASPAAS on an ongoing basis;
e) implementing the recommendations of ASPAAS;
f) meeting the specific delegation conditions laid down in the delegation order issued by ASPAAS, depending on the tasks delegated.
- Where tasks are delegated, ASPAAS retains ultimate responsibility for the performance of the delegated tasks, namely:
a) the authorisation and registration of statutory auditors and audit firms;
b) the adoption of auditing standards, professional ethics standards and internal quality control standards for statutory auditors and audit firms;
c) continuing professional education;
d) quality assurance systems;
e) investigation and disciplinary systems.
