SANCTIONS ISSUED BY ASPAAS

In accordance with Article 42 of Law No 162/2017 on the statutory audit of annual financial statements and consolidated annual financial statements and amending certain legal acts, ASPAAS publishes on its official website the sanctions imposed under Article 40(4) and Article 43(2), once all remedies have been exhausted or the time limit for exercising them has expired, together with information on the type and nature of the breach and the identity of the natural or legal person on whom the sanction was imposed.

Sanctions imposed by ASPAAS on statutory auditors and audit firms 2025

Sanctions imposed by ASPAAS on statutory auditors and audit firms 2024

Sanctions imposed by ASPAAS on statutory auditors and audit firms 2023

Administrative act Natural/legal person sanctioned Sanction imposed Type and nature of the breach
Order of the President of ASPAAS No 3/18.01.2022 Tigăeru Carmen Temporary prohibition from signing statutory audit reports for a period of 1 year. Breach of the provisions on ISQC 1 (and Article 8 of Regulation (EU) No 537/2014 on quality control), ISA 500 (Audit evidence), Article 62 of Law No 162/2017, ISA 230, ISA 500 and Article 11 of Regulation (EU) No 537/2014

Administrative act Natural/legal person sanctioned Sanction imposed Type and nature of the breach
Order of the President of ASPAAS No 134/15.04.2021 Paralescu Ioan Temporary prohibition from carrying out financial audits and/or signing statutory audit reports for a period of 1.5 years. Breach of Article 29(15) and (16) of Law No 162/2017 and of the principle of professional behaviour laid down in the Code of Ethics for Professional Accountants
Order of the President of ASPAAS No 657/05.11.2021 Niță Georgeta Temporary prohibition from carrying out financial audits and/or signing statutory audit reports for a period of 1 year. Breach of the provisions on quality control (ISQC 1), of the provisions on the mandatory content of the audit report (Articles 34 and 35 of Regulation (EU) No 537/2014) and of ISA 260

Administrative act Natural/legal person sanctioned Sanction imposed Type and nature of the breach
Order of the President of ASPAAS No 220/27.04.2020 Mihai Magdalena Temporary prohibition from carrying out financial audits and signing statutory audit reports for a period of 18 months Breach of the Code of Ethics for Professional Accountants, namely the principles of objectivity and integrity, and breach of Law No 162/2017

Administrative act Natural/legal person sanctioned Sanction imposed Type and nature of the breach
Order of the President of ASPAAS No 607/04.11.2019 Toma Gheorghe Temporary prohibition from carrying out financial audits and/or signing statutory audit reports for a period of 1 year. Breach of Article 32 of Law No 162/2017, paragraph 5 of ISA 200 and paragraph 8 of ISA 230, by failing to provide sufficient appropriate audit evidence to support the conclusions on which the audit opinion was issued.