RESPONSIBILITIES

(1) The main responsibilities of ASPAAS, as the competent authority under Directive 2006/43/EC, as amended, are as follows:

• the authorisation of statutory auditors and audit firms and the withdrawal of their authorisation;
• the registration of statutory auditors and audit firms in the Public Electronic Register;
• the continuing education of statutory auditors and the training of trainees in statutory audit;
• carrying out quality assurance inspections of statutory audit;
• carrying out inspections of statutory auditors and audit firms in the exercise of statutory audit activity;
• adopting the measures and applying the sanctions provided for by this Law;
• overseeing and monitoring the manner in which CAFR exercises the tasks delegated to it under Article 52;
• cooperating with other competent authorities in Romania and in other Member States, as well as with other national and international bodies involved in drafting and implementing regulations specific to statutory audit;
• providing information and responses, at the request of the European Commission, regarding the statutory audit profession and the national public oversight of statutory audit activity;
• issuing its own regulations on the basis of, and for the application of, the provisions of this Law.

(2) ASPAAS also performs the following tasks necessary for the exercise of its powers:

• implementing the strategy for the public oversight of statutory audit activity;
• adopting the Code of Ethics issued by IFAC;
• overseeing the translation, and the revision of the translation, of the International Standards on Auditing and of the Code of Ethics issued by IFAC;
• any other tasks specific to its field of activity, as laid down by this Law or by other national and European Union regulations.

ASPAAS’s right to request information:

(1) In exercising its right to request information from statutory auditors, audit firms or CAFR, ASPAAS uses instruments such as reports, questionnaires, interviews or other means, depending on the objective pursued.
(2) ASPAAS has the right to verify the information received from statutory auditors, audit firms or CAFR in order to establish whether it is accurate and lawful.
(3) ASPAAS has the right to request from any institution and/or authority with regulatory or supervisory responsibilities over public-interest entities the information it considers necessary for the performance of its tasks. The institutions concerned must respond promptly to ASPAAS requests.