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 purpose of the audit is to verify the financial statements of an internal (for the management of the audited entity) and external, third party information (shareholders, investors, government institutions, clients, suppliers, creditors, etc.) to ensure the credibility of this information.

The mission of the Ministry of Finance in this regard is to elaborate, promote and achieve the objectives of normative acts in line with the provisions of the international standards in the field, to ensure the reformation and continuous development of the accounting and auditing of the financial statements in the corporate sector according to the EU Directives.

Audit entities perform the audit of the financial statements in accordance with the International Standards on Auditing issued by the International  Auditing and Assurance Standards Board , which become valid in the Republic of Moldova upon their acceptance by the Government of the Republic of Moldova, applying the principles of professional ethics provided by the Code of Ethics of professional accountants and prepare the auditor's report for submission to audited entities.