In order to satisfy the information needs of users from inside and outside the organizations, accounting elaborated a proper method of generalization and synthesizing of information it produces, which involved the development of some appropriate tools, known as financial statements. For users...

Classical accountancy shaped and coagulated in an informational system grafted on traditional production systems, characterized by mass productions, planning etc. The powerful concentrations and grouping, economies globalization, both as offer and as demand, the new restrictions and economical...

The Body of Expert and Licensed Accountants of Romania (CECCAR) is the institution that manages the Romanian accountancy profession. At the same time, by elaborating the professional standards for a whole range of services offered by accountants, standards that are references when it comes to...

Fiscal policy constitutes – within the state's economic policy – a system by means of which the taxes and duties owed to the country's consolidated budget are established and collected. Taking into account the role fiscal policy has been playing since Romania's admission in the European...

Review of permanent professional standards is a requirement for professional bodies of professional accountants, resulting in broader processes of globalization and harmonization. A set of revised standards on financial audit engagement was published by IFAC in April 2009. International Standard...

Economic entities around the world, regardless of their membership - public or private sector - the size, the object of activity, prepare financial statements for presentation of financial information users (investors, creditors, customers, suppliers, public institutions). The financial...

The present article has as objective the presentation of a series of external audit systems, together with some of their characteristics and models found in different countries.The purpose of the external audit performed by the Supreme Audit Institutions (SAI) is to assure the proper use of the...

The financial crisis that broke out in summer 2007 is striking in its sheer magnitude, the speed of its contagion to the global financial sphere, as well as its persistence. These factors make it on the most impressive and unprecedented events in recent financial history

After the involvement of the audit profession in several financial scandals, the international body of the profession, International Federation of Accountants – IFAC, has developed and published a conceptual framework and reviewed most of the reference standards in auditing to provide...

Subsequent events, called so because they are recorded after the closing date of financial year, must be recorded and taken into account in drawing up the financial statements. Some of them can fundamentally changing financial position of the entity or provide information to users absolutely...