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New accounting law to bring informal accountants out into the open
10.05.2011, 23:59 | Finance-Banks | 1011 views
The new accounting law, modified through a government emergency ordinance, for the first time makes a clear distinction between organising and keeping the books, versus doing more advanced reporting (an accountant's job) and signing for it. The Romanian accounting system takes one more step towards deregulation, which brings it closer to the Anglo-Saxon school, says Marin Toma, chairman of the Body of Expert and Licensed Accountants of Romania (CECCAR), who has been running one of the most important and stable bodies in Romania for the last 18 years. Companies with turnover or overall assets worth under 35,000 euros, which will hire based on a contract or on a service agreement graduates of economic faculties to keep the books, risk a lot, because these graduates will be responsible not only for keeping the books, but also for putting together the accounting records and signing for them. Read more on ZF.ro
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