Corpul Expertilor Contabili si Contabililor Autorizati din Romania (CECCAR)

Although members of the Body of Expert and Licensed Accountants of Romania (CECCAR) do not perform statutory audits under the jurisdiction-wide public oversight system, CECCAR operates its own quality assurance (QA) arrangements for the professional services provided by its members, including accounting services, expert services, and other engagements within its competence. CECCAR’s organizational regulations state that it has the right to monitor the competence, conduct, and quality of services provided by its members, and CECCAR maintains a dedicated Audit de calitate section on its website with the relevant quality audit regulations and guidance.

CECCAR continues to support members with implementation of quality management requirements and related professional standards. It has made available Romanian-language implementation guides for International Standard on Quality Management 1 and International Standard on Quality Management 2 and, more recently, published a Romanian quality management toolkit for small and medium-sized firms to help practitioners design and implement systems of quality management. These materials are directly relevant to firms performing assurance and related services.

CECCAR also continues to embed quality control, assurance, review, compilation, and agreed-upon procedures topics in its qualification pathway. The 2025 aptitude examination syllabus includes specific coverage of ethical requirements and quality control requirements for review, compilation, agreed-upon procedures, and other assurance engagements, while CECCAR’s 2025 access examination syllabus continues to reference the International Auditing and Assurance Standards Board handbook and related professional literature.

Taken together, these activities indicate that CECCAR continues to maintain and support a QA framework for services performed by its members and to provide ongoing implementation support through regulations, practical tools, and professional education. Accordingly, SMO 1 fulfillment is assessed as Sustain.

Current Status: Sustain

As the body responsible for establishing initial professional development (IPD) and continuing professional development (CPD) requirements for expert accountants and authorized accountants in Romania, the Body of Expert and Licensed Accountants of Romania (CECCAR) continues to maintain a framework aligned with the International Education Standards (IES).

CECCAR’s qualification pathway remains structured around entry requirements, professional education, practical experience, assessment, and continuing professional development. Entry to the profession includes an access examination, a practical training period, and an aptitude examination. For expert accountants, candidates are required to hold a university degree in economics or a related field recognized by the Ministry of Education, while authorized accountants follow the separate qualification route established under the applicable regulations. CECCAR continues to publish detailed information on the access examination, trainee program, and aptitude examination on its website.

CECCAR has continued to update its education framework to align with revised IES requirements. It has translated and made publicly available the 2019 Handbook of International Education Pronouncements and subsequent revised standards, including revised International Education Standards 2, 3, 4, and 8. CECCAR also states that its education and professional development regulations are reviewed on an ongoing basis to maintain alignment with international education benchmarks.

CECCAR continues to work closely with Romanian higher education institutions and maintains cooperation agreements with accredited universities to support alignment of academic curricula with professional competency requirements. These arrangements support entry requirements and learning outcomes consistent with International Education Standard 1 and the broader IES framework.

For professional accountants in practice, CECCAR continues to oversee the national CPD program, which requires at least 120 hours of professional development over a rolling three-year period, including a minimum of 60 verifiable hours. Training is delivered through CECCAR’s nationwide branch structure and supported by technical seminars, online learning, and practical implementation sessions.

CECCAR also continues to cooperate with national and international professional accountancy organizations, including the Chamber of Financial Auditors of Romania, the Association of Chartered Certified Accountants, and the Institute of Chartered Accountants in England and Wales, to support training, professional education, and capacity-building initiatives for its members.

Based on the continued maintenance of an education framework aligned with the IES and ongoing support for implementation and professional development, SMO 2 fulfillment is assessed as Sustain.

Current Status: Sustain

The adoption and translation of International Standards on Auditing (ISA) in Romania are the legal responsibility of the Statutory Audit Public Oversight Authority (ASPAAS) under Law No. 162/2017. ASPAAS may delegate operational translation and publication activities, and this function is currently supported by the Chamber of Financial Auditors of Romania (CAFR). Accordingly, the Body of Expert and Licensed Accountants of Romania (CECCAR) has no direct responsibility for the jurisdiction-level adoption of ISA.

Notwithstanding the absence of direct responsibility, CECCAR continues to play an active and supportive role in implementation and capacity building. CECCAR has historically supported the translation of auditing and assurance pronouncements and continues to publish implementation support materials relevant to its members, including guidance on International Standard on Auditing 315 (Revised), International Standard on Related Services 4400 (Revised), and illustrative examples related to International Standard on Auditing 540. CECCAR has also made available practical implementation materials for small and medium-sized practices and other technical guidance relevant to assurance and related services.

In addition, CECCAR continues to support members’ understanding and implementation of new and revised standards through technical seminars, case-study-based training, professional publications, and collaboration with universities, audit firms, and other professional accountancy organizations.

These activities demonstrate sustained support for implementation and capacity building in line with Statement of Membership Obligations 3, notwithstanding CECCAR’s lack of direct authority over jurisdiction-level adoption.

CECCAR should continue to work closely with ASPAAS and CAFR to support efforts to reduce the lag between the issuance of new and revised International Auditing and Assurance Standards Board pronouncements and their formal adoption and application in Romania, with the objective of aligning the jurisdiction with the latest handbook in effect as of the time of the assessment.

Current Status: Sustain

Under the legal and professional framework in Romania, ethical requirements for statutory auditors are adopted under the authority of the Statutory Audit Public Oversight Authority (ASPAAS), while the Body of Expert and Licensed Accountants of Romania (CECCAR) is responsible for establishing and maintaining ethical requirements for expert accountants and authorized accountants within its professional remit.

CECCAR continues to maintain an active process for adopting, translating, and supporting the implementation of the International Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants (IESBA). CECCAR translated and made publicly available the 2018 edition of the Code and subsequently published updates related to revisions to Part 4B and revisions promoting the role and mindset expected of professional accountants.

CECCAR continues to update its national Code of Ethics for Expert and Licensed Accountants and to align it with subsequent revisions to the international Code. Publicly available information indicates that CECCAR continues to reference and support implementation of the more recent versions of the Code translated in Romania.

To support adherence to ethical requirements, CECCAR continues to organize workshops and technical sessions for members, incorporates ethics modules into its continuing professional development program, and provides advisory support to members and the public on revisions to the Code and related ethical obligations. Ethical breaches and misconduct remain subject to CECCAR’s investigative and disciplinary framework.

These activities demonstrate sustained and proactive support for the implementation of ethical requirements in line with Statement of Membership Obligations 4.

CECCAR should continue to prioritize the timely update of its national ethical framework to align fully with the latest edition of the International Code of Ethics for Professional Accountants in effect as of the time of the assessment, with the objective of reducing any remaining lag between international revisions and domestic application.

Current Status: Sustain

The Ministry of Finance (MoF) is responsible for establishing public sector accounting standards in Romania through Order No. 1917/2005 and its subsequent amendments. The jurisdiction continues to apply partial accrual national standards for public sector entities rather than International Public Sector Accounting Standards (IPSAS) as issued.

Although the Body of Expert and Licensed Accountants of Romania (CECCAR) has no direct responsibility for adopting public sector accounting standards at the jurisdiction level, it continues to use its best endeavors to support convergence with accrual-basis IPSAS and broader public sector financial reporting reform.

CECCAR has maintained a longstanding advocacy and awareness-raising role in this area. Since 2009, it has regularly translated International Public Sector Accounting Standards Board (IPSASB) handbooks and related pronouncements into Romanian to support awareness and understanding among stakeholders and practitioners. CECCAR also participates in public consultations and legislative discussions relevant to public sector accounting reform and continues to engage with key stakeholders, including the Ministry of Finance and other public authorities, to promote alignment with international good practice.

In addition, CECCAR continues to support professional capacity building through conferences, seminars, and training sessions that include dedicated public sector accounting and reporting components. These activities contribute to broader awareness of IPSAS and support the profession’s preparedness for any future reforms in the jurisdiction.

These activities demonstrate that CECCAR continues to use its best endeavors in support of Statement of Membership Obligations 5 and therefore the fulfillment rating is assessed as Sustain.

CECCAR should continue its advocacy with the Ministry of Finance and other relevant stakeholders to support the transition from partial accrual national standards toward accrual-basis IPSAS or national standards explicitly aligned with IPSAS, in line with international best practice.

Current Status: Sustain

Government Ordinance No. 65/1994 authorizes the Body of Expert and Licensed Accountants of Romania (CECCAR) to establish and operate an investigative and disciplinary (I&D) mechanism for its members, including expert accountants and authorized accountants.

CECCAR’s internal regulations continue to provide for a structured disciplinary framework comprising 42 disciplinary commissions at branch level and a Superior Disciplinary Commission at national level. The territorial disciplinary commissions are responsible for investigating misconduct and applying sanctions within their respective jurisdictions, while the Superior Disciplinary Commission is responsible for hearing appeals and addressing matters involving members of the territorial commissions.

CECCAR continues to report that its I&D system is aligned with the Statement of Membership Obligations 6 benchmark and has taken steps to strengthen the framework over time. In particular, CECCAR has established an appeals mechanism separate from the initial disciplinary commissions and has formalized procedures for the independent review of complaints and appeals.

CECCAR also maintains cooperation arrangements with relevant public authorities in cases involving serious misconduct or potential criminal matters, including anti-money laundering and anti-corruption authorities, thereby strengthening liaison with external enforcement bodies where appropriate.

To support consistent application of the framework, CECCAR continues to provide annual training to members of its disciplinary commissions and to relevant staff involved in ethics, quality control, and disciplinary functions. It also disseminates case studies and practical examples derived from disciplinary jurisprudence to support awareness and preventive compliance among members.

While data protection requirements continue to limit the public disclosure of personal information and detailed disciplinary outcomes, CECCAR has established procedures to provide information on the outcome of cases where legally permissible and upon justified request.

These activities demonstrate that CECCAR continues to maintain and operate an established and functioning I&D system and to use its best endeavors to align with SMO 6 requirements. Accordingly, fulfillment is assessed as Sustain.

CECCAR should continue to work with the Statutory Audit Public Oversight Authority, the Chamber of Financial Auditors of Romania, and other relevant stakeholders to support further alignment of the jurisdiction-level investigative and disciplinary framework with Statement of Membership Obligations 6 best practices, particularly in areas relating to public interest features, transparency, and consistent enforcement arrangements across all segments of the profession.

Current Status: Review & Improve

Accounting standards in Romania are established under Accounting Law No. 82/1991, which designates the Ministry of Finance (MoF) as the national accounting standard-setter responsible for transposing European Union requirements relating to International Financial Reporting Standards (IFRS) Accounting Standards as adopted by the European Union into national law.

Listed companies in Romania are required to apply European Union-endorsed IFRS in their consolidated financial statements, and the framework also permits certain non-listed entities to apply IFRS in consolidated financial statements.

Although the Body of Expert and Licensed Accountants of Romania (CECCAR) does not have direct responsibility for the legal adoption of IFRS at the jurisdiction level, it continues to play an active role in supporting implementation and promoting high-quality financial reporting.

CECCAR maintains an ongoing process to support the availability of Romanian-language translations of IFRS Accounting Standards and related materials and continues to support awareness of new and amended standards issued by the International Accounting Standards Board.

In addition, CECCAR continues to include IFRS topics within its national continuing professional development program and organizes roundtables, technical sessions, and professional events focused on IFRS adoption, implementation, and recent developments.

CECCAR also continues to support the international standard-setting process through participation in consultations and the review of exposure drafts issued by the International Accounting Standards Board, including the submission of comment letters where appropriate.

These activities demonstrate CECCAR’s continued use of its best endeavors to support the implementation of IFRS Accounting Standards and contribute to the international standard-setting process. Accordingly, fulfillment is assessed as Sustain.

Current Status: Sustain