The financial audit prepared in accordance with the International Financial Auditing Standards, adopted in full by the Chamber of Financial Auditors in Romania, consists of performing a financial statement audit based on sound evidence that allows a rigorous analysis of the accounting systems and internal financial control. This determines whether the latter are suitable for use in preparing the necessary financial statements and maintaining fair accounting, while determining the extent to which there are significant risks that could affect in the future both the value, the capital and the economic result of company, as well as the safety of business continuity.

The result of the financial audit activity materializes in:

• Financial audit report on the client's financial statements.
• Confidential letter addressed to the management on the main weaknesses of the internal control system and other issues identified during the financial audit, which, in the auditor's opinion, need to be presented to the management.

Internal Audit

The internal audit implies the examination of financial and management activities and the submission of pertinent opinions on operational audits, such as regularity, compliance and effectiveness audits:

i. Regularity audit. The auditor verifies that the rules and procedures are well applied, in compliance with the organigrammes and information systems. The regularity audit aims to compare the reality with the proposed benchmarking system by identifying possible deficiencies or imbalances.

ii. Audit of effectiveness. The audit of effectiveness takes into account the organizational culture, referring to the quality of the work and the results obtained by observing the rules adopted by the entity itself and not against the background of an abstract reference system.