DISCIPLINARY COMMITTEE
(1) A Disciplinary Committee is set up and operates within ASPAAS. (2) The Disciplinary Committee consists of 4 members with legal or economic training and is composed as follows:
- a representative of the Ministry of Public Finance;
- a representative of the National Bank of Romania;
- a representative of the Financial Supervisory Authority;
- a representative of ASPAAS.
(3) The Disciplinary Committee elects a chair from among its members. (4) The administrative procedure concerning breaches of statutory audit legislation is implemented through the Disciplinary Committee. (5) The term of office of the members of the Disciplinary Committee is 3 years, renewable once on the proposal of the appointing institution. (6) The organisation and functioning of the Disciplinary Committee are laid down in its rules of procedure. (7) The Disciplinary Committee meets quarterly and when convened by its chair. (8) Meetings of the Disciplinary Committee are quorate if at least 3 of its members attend. (9) The Disciplinary Committee draws up a report proposing the sanctions provided for in Article 40(4) or Article 43(2), or a report closing the referral, as appropriate. (10) The Disciplinary Committee has jurisdiction over administrative referrals concerning statutory auditors and audit firms in Romania in any of the following situations:
- where the acts relate to the performance of statutory audit activity;
- where the provisions of the Code of Ethics referred to in Article 20(1) are breached in the performance of statutory audit activity;
- where the acts are committed by members of the CAFR Council or by other members elected to or holding office in the CAFR management structures, in connection with the tasks laid down in this Law;
- in any other situations provided for by law.
(11) On the basis of the report referred to in paragraph (9), the President of ASPAAS issues an order resolving the referrals, which is communicated to the parties. (12) Members of the Disciplinary Committee receive a quarterly allowance for attending meetings. The allowance is 25% of the President of ASPAAS’s allowance for the month of the last meeting in the quarter.
