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Audit Authority- Public External Auditor Of European Funds

Author

Listed:
  • Daniel-Petru VÂRTEIU

    (“1 Decembrie 1918” University of Alba Iulia, Romania)

Abstract

European fundsprovided to Romania as a Member State are managed and implemented by ManagementAuthorities established for each category of funds and programs, and the auditof these funds is made by Audit Authority in its quality of public externalauditor, being in accordance to the national and European legislation ineffect. The Audit Authority was constituted based on the Law no.200/2005concerning the approval OUG nr22/2005 for completing the Law no.94/1992,concerning the organizing and functioning of Court of Auditors, and it developsaudit activities in accordance, system audit, audit of operations,certification audit of accounts, audit at the end of the financing programs forproviding an opinion concerning the way of managing the European funds which itis annually reported to the European Commission. The main steps that the AuditAuthority traverses within the audit process consist in elaborating the auditstrategy, planning the audit activity, implementing the audit, reporting,monitoring and verifying the actions taken as a result of recommendations.

Suggested Citation

  • Daniel-Petru VÂRTEIU, 2018. "Audit Authority- Public External Auditor Of European Funds," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 3(3), pages 74-79.
    • Handle: RePEc:brc:brccej:v:3:y:2018:i:3:p:74-79
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    File URL: http://www.revec.ro/papers/180309.pdf
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    More about this item

    Keywords

    audit; European funds; audit authority; system audit; operation audit;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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