According to the national legislation in force, the auditors are obliged to carry out continuous professional training courses annually in order to remain informed of legislative amendments and supplements and the professional performance methodologies. Seminars, lectures, etc., are carried out in order to train and develop the skills necessary for the performance of audit activities.
The purpose of auditors’ certification is to examine the professional capacity and practical experience of persons applying for audit professional practice.
The Qualification Examination is organised by the Ministry of Finance and carried out by the Certification Commission of the Ministry of Finance.
The members of the Commission are highly qualified specialists from the Ministry of Finance and other central public administration specialised bodies and relevant academia representatives.
The Council is set up as an advisory body for the examination of specific situations in the financial statements audit and drafts of relevant normative acts, as well as the presentation of recommendations and appropriate proposals
An audit is the independent review of the annual financial statements, including consolidated statements of the audited entity, in order to express a professional opinion of the auditor as to whether the financial statements are prepared in all material respects under the applicable financial reporting framework.
The Council is an advisory body for examining draft accounting regulatory acts, including draft standards, the general chart of accounts, rules, instructions, methodological guidelines, rules and comments, accounting and financial reporting issues, in order to train qualified specialists within research institutions, higher education institutions, ministries, other central administrative authorities, as well as private entities.
Accounting is the science and art of business management and is a complex system for collecting, identifying, grouping, processing, recording, generalizing accounting and financial reporting.
One of the core functions of the Ministry of Finance is the regulation of accounting and audit in the corporate sector. Thus, the Ministry of Finance is responsible for policy development in these areas, in order to establish a legal framework of single requirements of the accounting and financial reporting regulation mechanism, of the legal framework for the performance of audit work by audit firms and auditors performing activities as individual entrepreneurs and of regulations related to the performance of audit activities.
