The audit firm employs an accountant
udit activity comprises several basic notions that need to be explained to better understand its role and which are it’s main components .
Below you will find the explanation of basic notions relating to the audit activity :
Audit activity – entrepreneurial activity consisting in providing professional services performed on a contract basis for expressing an opinion on the veracity of financial statements in accordance with the present Law and the relevant legislation;
Audit – independent review of annual financial statements , consolidated annual financial reports and other information relating thereto, of the audited entity for the auditor to express a professional opinion on their compliance, in all significant aspects, to the requirements set out in these reports
Auditor – an individual who holds a certificate of qualification of the auditor ;
Association of auditors – voluntary formation, independent, freestanding , self-management, created by the free will of auditors , audit firms and individual entrepreneurs auditors , associated on the bases of a community of professional interests to exercise joint civil rights , economic and social , and is not intended for profit ;
Auditor Qualification Certificate – document issued in the manner established by present Law , confirming the professional qualification of auditor ;
Code of Ethics – Code of Ethics for Professional Accountants issued by the Board of International Auditing Standards and Insurance ;
Audited entity – entity, including its subdivisions , whose annual financial reports , annual consolidated financial statements and / or other related information are audited ;
