TITLE

CURRENT ISSUES AND THEIR CHALLENGES IN AUDITING THE PRIVATE PENSSION FUNDS IN ROMANIA

AUTHOR(S)
Simona, Matei
PUB. DATE
November 2012
SOURCE
International Conference on Economics & Administration Proceedin;Nov2012, p317
SOURCE TYPE
Conference Proceeding
DOC. TYPE
Article
ABSTRACT
The present paper has the purpose to introduce the readers in the pension funds industry and to raise the awareness on the importance of financial external audit of pension funds. Nowadays, the Romanian accounting legislation is continuously updating and changing, being closer and closer to International Financial Reporting Standards. Therefore, the auditors have the professional responsibility and due care to be continuously informed and to align their audit procedures to changes in the industry. The research objectives are to evidence the challenges of an external auditor in performing the testing procedures for investments, in both the planning and substantive phase of an audit fieldwork. In Romania, the novelty and complexity of this field is still in its regulatory status, both in terms of the Supervisory Commission and the Private Pensions Supervisory Commission (CSSPP), and the CAFR. In Romania, at present, there is no work paper to have done the unification of the two areas, audit and private pension funds. I want the current work paper to be the first study about the role and importance of the external audit of a private pension funds.
ACCESSION #
85278256

 

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