POSITION STATEMENT –  provision of services/carrying out statutory audit activity under Law No 162/2017, as updated, in conjunction with certain provisions of Government Emergency Ordinance No 109/2011  and with other accounting regulations

Position statement on the provision of services/carrying out statutory audit activity under Law No 162/2017, as updated, in conjunction with certain provisions of Government Emergency Ordinance No 109/2011 on the corporate governance of public enterprises and with the accounting regulations approved by Order of the Minister of Public Finance No 1802/2014 and Order of the Minister of Public Finance No 2844/2016, as amended and supplemented

ASPAAS is the competent authority for public-interest oversight of statutory audit and exercises its powers under Law No 162/2017 on the statutory audit of annual financial statements and consolidated annual financial statements and amending certain legal acts, as amended and supplemented.

Law No 162/2017, as amended and supplemented, sets and limits the competence of ASPAAS to regulating statutory audit activity and overseeing statutory auditors and audit firms, by ensuring the application, implementation and monitoring of compliance with legal acts adopted at European Union level, whether transposed into national law or directly applicable.

Accordingly, the legislation in force does not authorise ASPAAS to issue interpretations or position statements on the application of other legal acts, nor to resolve cases faced by various public/private law entities; the specific manner of meeting legal obligations is the responsibility of each entity.