Ordinance no. 65/1994

ORDINANCE no.65 of August 1994, Republished

on the Organization of the Accounting Expertise and Licensed Accountants’ Activity

 

  • Effective since 12 May 2013 

Underlying Act

  • Government Ordinance no.65 of August 1994 republished in The Official Journal of Romania, Part I, No. 13 of January 8, 2008

Amending Acts

  • Government Ordinance no.23/2012
  • Act 187/2012
  • Act 149/2013

Chapter 1

The Qualification of Expert Accountant and Licensed Accountant

ART. 1

The expert accountant and licensed accountant professions are practised by persons endowed with this qualification, under the conditions provided for in this ordinance.

ART. 2

1. An expert accountant is the person having obtained this qualification under the terms provided for in the present ordinance and has the professional competence to organize and manage the accounting activity, to oversee the management of trading companies, to prepare the financial statements and to perform accounting expertise operations.

2. The expert accountant shall prepare a report on his/her findings, conclusions, opinions and recommendations.

3. The licensed accountant is that person having obtained this qualification under the terms provided for by the present ordinance, having the competence to provide the bookkeeping and do preliminary work prior to the preparation of the financial statements.

ART. 3

1. The access to the expert accountant and licensed accountant professions is obtained through an admission examination, at which the minimum average must be 7 and the minimum grade per subject must be 6, he/she shall also undertake a 3 year practical training period and at the end of this period, he/she shall take a professional skills certification examination.

(1^1) Upon request, graduate students of Master programs held by specialised faculties, based on the equivalence agreements for Master examination disciplines and access to the profession exams, concluded between Universities and the Body of Expert and Licensed Accountants of Romania.

2. Within 6 months from the publication of the present ordinance in the Official Journal of Romania, the Regulations on the Access to the Expert Accountant and Licensed Accountant Professions shall be approved by Government Decision**). The Regulations shall be prepared by The Body of Expert and Licensed Accountants of Romania and approved by the Ministry of Finance and by the Ministry of National Education*).

ART. 4

1. The admission examination for obtaining the qualification of expert accountant provided for in Art. 3 may be taken by any person meeting the following requirements:

a)  Is legally competent;

b)  Has an academic degree in Economics acknowledged by the Ministry of National Education, Research and Youth;

c)  Has not received any conviction which, according to the legislation in force, forbids him/her from managing or administering a company.

2. Upon request, any person bearing the titles of academician, professor and lecturer, having a PhD in Economics and the docents, with a degree in finance or accountancy have access to the profession of expert accountant on the basis of their PhDs, with observance of the provisions of Art. 1, (a) and (c) and under obligation to be interviewed regarding the organizational and operational regulations of the Body of Expert and Licensed Accountants.

3. The recognition of the expert and licensed accountant title for foreign natural persons who are members of internationally recognised certification institutes shall be awarded based on taking an interview according to the regulations issued on that matter by the Body of Expert and Licensed Accountants of Romania.

4. Upon request, persons possessing the licensed accountant title and who, further to receiving this title, meet the requirement under paragraph 1(b) have access to the expert accountant profession by means of taking an equivalence examination for the following disciplines: Accounting, Accounting expertise, Accounting Doctrine and Deontology, Financial Audit, Economic and Financial Business Appraisal. These tests shall be taken during the examination sessions held for the access to the Expert Accountant Practical Training Programme.

ART. 5

The admission examination for obtaining the qualification of licensed accountant as stated in Art. 3 can be taken by any person meeting the following requirements:

a)    Is legally competent;

b)    Has an secondary studies degree acknowledged by the Ministry of National Education, Research and Youth;

c)    Has not received any conviction which, according to the legislation in force, forbids him/her from managing or administering a company.

Chapter 2

The Expert Accountant and Licensed Accountant Profession

SECTION 1

The Expert Accountant

ART. 6

The expert accountant may provide the following services to natural and legal persons:

a) Keeps or supervises the bookkeeping and prepares or verifies and approves the financial statements;

b) Provides assistance for the accounting management and bookkeeping;

c) Performs economic and financial analyses and asset appraisals;

d) Undertakes accounting examinations required by judiciary bodies or demanded by natural or legal entities, according to legal requirements;

e) Undertakes any other work of financial, accounting, administrative or IT management nature;

f) Fulfils the tasks provided for in the company censor’s mandate, according to legal requirements;

g) Provides technical expertise for the creation and restructuring of trading companies;

h) Provides accounting-related professional services to natural or legal entities.

ART. 7*)

Natural or legal persons possessing the expert accountant title may undertake financial audit activities; provide financial consultancy and valuation services only after acquiring, subject to legal provisions, the title of financial auditor, fiscal consultant or certified appraiser and after having registered as members with the institutions coordinating the aforementioned liberal professions.

ART. 8

Expert accountants may practice their profession individually or they may organise themselves as companies, according to the provisions of the law.

ART. 9

Companies providing accounting expertise services must meet the following conditions:

a) The object of their activity must be the practise of the expert accountant profession;

b) The majority of the shareholders or associates must be expert accountants and hold the majority of stock or shares;

c) The majority of the Board of Directors within the company must be nominated from the expert accountant shareholders or associates;

d) The shares must be registered and each new associate or shareholder must be accepted by the General Assembly.

SECTION 2

The Licensed Accountant

ART. 10

The licensed accountant may provide the following services to natural and legal persons:

a) Bookkeeping for the economic and financial operations established in the contract;

b) Prepares the works necessary for drawing up financial statements.

ART. 11

Licensed accountants may practise their profession individually or within companies.

SECTION 3

Common Provisions for Expert and Licensed Accountants

ART. 12

1. Expert accountants and licensed accountants are forbidden to undertake any work for the economic entities or for the institutions where they are employed and for any other parties with whom their employer has concluded agreements or with whom his/her employer competes. At the same time, expert and licensed accountants are forbidden to undertake any work for any entity with which he/she is related, including extended family members, up to the fourth degree, or spouses of the managers.

2. Expert and licensed accountants may not undertake any work for third parties as stated in Art. 6 and 10, under circumstances certifying the existence of a conflict of interest or of an incompatibility.

3. Censorship work may be undertaken, in accordance with the provisions of the law, by expert accountants, by any person having a higher education degree in Economics acknowledged by The Ministry of Education, Research and Youth and a minimum 5 year experience in the accounting-financial area or by any company member of the Body of Expert and Licensed Accountants of Romania.

ART. 13

Expert and licensed accountants guarantee the civil accountability of the activity undertaken thereby by underwriting an insurance policy or by transferring a contribution to the guarantee fund.

ART. 14

Relations between expert accountants, licensed accountants and specialized companies and their clients shall be established by means of a written contract for services, signed by both parties.

ART. 15

The fees fixed for the accounting expertise services required during a trial, ex officio, according to Art. 116, 124 and 125 of the Criminal Procedure Code, in cases involving breaches of the Criminal Procedure Code or of special laws that have injured public property, shall be advanced from the State Budget by the Ministry of Justice, the Public Ministry or the Ministry of Domestic Affairs and Administrative Reform, as the case may be. The amounts shall be recovered from the guilty parties after the final sentence.

SECTION 4

Accountability of Expert and Licensed Accountants

ART. 16

1. In practising their profession, expert and licensed accountants are accountable from a disciplinary, administrative, civil and penal point of view, according to the law.

2. The limits of the civil accountability of expert and licensed accountants are established within contracts of services placed according to the law, given the international and internal practices of the accountancy profession.

ART. 17

1. The disciplinary sanctions inflicted on expert and licensed accountants, depending on the severity of their infringement, are the following:

a) Admonition;

b) Written warning;

c) Suspension of the right to practice the profession of expert or licensed accountant for a period extending from 3 months to 1 year;

d) Prohibition of the right to practice the profession of expert or licensed accountant.

2. The infringements generating disciplinary sanctions shall be assigned based on the organizational and operational regulations.

Chapter 3

The Organization and Operation of the Body of Expert and Licensed Accountants

SECTION 1

The Organization and Responsibilities of the Body of Expert and Licensed Accountants

ART. 18

The Body of Expert and Licensed Accountants is established as an autonomous public interest legal entity, consisting of expert accountants and licensed accountants, under the terms established by the present ordinance, having its general headquarters in the city of Bucharest.

ART. 19

The Body of Expert and Licensed Accountants shall establish branches, without legal personality, in the county municipalities and in the city of Bucharest.

ART. 20

The Body of Expert and Licensed Accountants has the following responsibilities:

a)    To organize the admission examination, the practical training and the skills examination for the access to the profession of expert accountant and licensed accountant, according to the provisions of Art. 3. The Body of Expert and Licensed Accountants shall draft the curricula for the admission examination for the profession of expert accountant and licensed accountant, the regulations for the practical training and for the skill examination with the approval of the Ministry of Economy and Finance in such a way so as to converge with the provisions of the European Directives.

b)    to organize the record of expert accountants, licensed accountants and of specialized companies within the Body Register;

c)    to ensure the normal course of expert accountants and licensed accountants’ activity;

d)    to develop and publish norms regarding the professional activity and the ethical conduct of expert and licensed accountants, as well as professional guides in the financial and accounting fields;

e)    to ensure that the expert accountants provide adequate valuation work on the basis of the International Valuation Standards;

f)     to support the professional training and improvement of expert and licensed accountants by means of adequate professional development programs;

g)    To protect the prestige and the professional independence of its members in their rapports with public authorities and specialized bodies, as well as with domestic and foreign legal and natural entities. In relation to foreign professional bodies, the Body of Expert and Licensed Accountants of Romania shall be represented by its governing structures or it can delegate certain responsibilities to other specialised entities, with or without legal personality, based on a Superior Council Decision;

h)    to co-operate with professional specialized bodies in Romania and abroad;

i)      to issue specialized publications;

j)      Any other responsibilities established by laws or regulations.

SECTION 2

Structure of the Body of Expert and Licensed Accountants

ART. 21

1. The activities stated in Art.6 and Art.10 may be undertaken by those persons having acquired the expert accountant or licensed accountant title, who are registered with the Members’ Register for Expert and Licensed Accountants of Romania, hereinafter named the Members’ Register, this title being certified by the member card, which must be validated annually. The Members’ Register is published annually in the Official Journal of Romania, Part I. The Members’ Register contains the records of all members, natural persons, expert accountants and licensed accountants by categories, as well as specialized legal persons, grouped by territorial branches.

2. The structure of the Body of Expert and Licensed Accountants of Romania consists of two divisions:

  • the expert accountants division;
  • The licensed accountants division.

3. The record of persons having passed the admission examination who are attending the practical training program shall be organized according to the Organizational and Operational Regulations of the Body of Expert and Licensed Accountants of Romania.

4. The members of the Body of Expert and Licensed Accountants of Romania are natural and legal persons who are active or inactive, from the point of view of their practise right and are separately registered under sections provided for in paragraph (2).

5. The Organizational and Operational Regulations of the Body of Expert and Licensed Accountants of Romania shall establish the organization and operation of the divisions.

6. Transferring a person from the active status to the inactive member status can be made subject to that person submitting a written solicitation that demonstrates the incompatibility condition stipulated by the special law.

7. Transferring a person from the inactive status to the active member status can be made subject to meeting all of the following conditions:

                      i.        Submitting a written solicitation to the divisional branch;

                     ii.        Submitting the criminal record;

                    iii.        Taking a 20-hour class on specific legislation.

ART. 22

1. The registration of expert and licensed accountants in the Members’ Register of the Body shall be done by the county branches and by that of the city of Bucharest, upon request, if the applicants prove that they meet the provisions of Art. 4(a) and (c) or Art.5(a) and (c), respectively.

2. The appeals against a refusal to register an applicant in the Members’ Register of the Body shall be submitted within 30 days since the date on which the notification was received and they shall be solved by the managing structures of either the expert accountants division or of the licensed accountants division, as the case may be, within 30 days since the registration date. The decisions approved by the management structures of either the expert accountants division or of the licensed accountants division may be appealed at the Superior Council of the Body, within 30 days of their receipt, and they shall be solved within 15 days since the appeal’s registration. The appeals to the Superior Council decisions can be submitted to the Contentious administrative Office attached to the Bucharest Court.

3. After having registered with the Members’ Record, expert and licensed accountants shall take a written oath.

4. The oath has the following wording:

“I hereby swear to apply correctly and with no bias the national laws; I swear to observe the provisions of the Regulations of the Body of Expert and Licensed Accountants of Romania and of the Code on professional conduct of expert and licensed accountants; I swear to keep the professional secrecy and to be committed to fulfilling the duties I am entrusted with as expert or licensed accountant.”

ART. 23

1. Members of the Body of Expert and Licensed Accountants of Romania have the obligation to pay their professional fees. Non-payment of these fees for a period of one year subsequently attracts the erasure of the respective member from the Members’ Register.

2. At the same time, the expert accountants or licensed accountants having received a conviction of the nature of those provided for in Art.4(c) or in Art.5(c), or having perpetrated severe infringements of another nature, provided for in the regulations, are also erased from the Members’ Register as well as those who did not pay to the government budget the taxes on the fees received from natural persons, in the period and in the amount provided for by the law.

ART. 24

Accounting examination companies and companies providing accounting services that are members of the Body of Expert and Licensed Accountants of Romania must communicate to its branches any amendment regarding the number or status of their associates or shareholders.

ART. 25

Advertising in connection with the practice of the expert accountant or licensed accountant professions shall be done or shall be authorized by the Body of Expert and Licensed Accountants, according to the professional interest of its members.

ART. 26

(1) Foreign natural or legal persons, who are not resident or, as the case may be, do not have their registered office in Romania, may exercise the expert accountant or licensed accountant activity, in accordance with the provisions of this ordinance, if they hold that qualification in their country, and legally exercise these activities, in the conditions prescribed by bilateral conventions concluded to this purpose by Romania with other states, and if they have taken, in accordance with the pronouncements developed in this regard by the Body of Expert and Licensed Accountants of Romania, the interview for assessing their knowledge of the national legislation regarding the organization and operation of companies, as well as of the fiscal and accounting legislation.

(2) The citizens of another Member State of the European Union or of the European Economic Area or of the Swiss Confederation and Romanian citizens who have obtained the necessary professional qualification in another Member State of the European Union or of the European Economic Area or of the Swiss Confederation may obtain the expert accountant or licensed accountant qualification in Romania, in accordance with the provisions of this ordinance, in the same conditions as Romanian citizens. The recognition of diplomas and professional qualifications obtained in another Member State of the European Union or of the European Economic Area or of the Swiss Confederation, necessary to obtain the expert accountant or licensed accountant qualification in Romania, shall be made in accordance with Law No 200/2004 regarding the recognition of diplomas and professional qualifications for the regulated professions in Romania, with its subsequent amendments and supplements.

(3) Citizens of another Member State of the European Union or of the European Economic Area or of the Swiss Confederation and Romanian citizens who have obtained the expert accountant or licensed accountant qualification in another Member State of the European Union or of the European Economic Area or of the Swiss Confederation, qualification which is certified by the recognized professional bodies in that state, may register in the Body’s Records, in order to exercise the profession in Romania, in the conditions prescribed by the law, being exempt from the procedures provided for in art. 3 paragraph (1). Based on the requests expressed by the applicant, the Body of Expert and Licensed Accountants of Romania recognizes the professional certification document issued by the competent authority in the state of origin and registers the applicant in the Body’s Records based on this document, accompanied by documents attesting the acquirement of the expert accountant or licensed accountant qualification or of the equivalent qualifications in the state of origin, as well as documents attesting compliance with the procedures provided for in art.3 paragraph (1), art.4 and 5, issued by the competent Romanian authorities or by those in the country of origin.

(4) Legal persons established in a Member State of the European Union or of the European Economic Area, where they legally exercise the activities provided for in art.6 and 10, may register in the Body’s Records, in order to exercise the profession in Romania, in the conditions prescribed by this ordinance, with their right to exercise the expert accountant and licensed accountant activity obtained in their state of origin being recognized.

(5) The citizens of another Member State of the European Union or of the European Economic Area or of the Swiss Confederation and Romanian citizens who have obtained the expert accountant or licensed accountant qualification in another Member State of the European Union or of the European Economic Area or of the Swiss Confederation, and who have a permanent right to exercise the profession in one of these states may also practice the profession in Romania on a temporary or occasional basis, being exempt from the procedure regarding the registration in the Body’s Records.

(6) Legal persons established in a Member State of the European Union or of the European Economic Area, where they legally exercise the activities provided for in art.6 and 10, may also exercise these activities in Romania on a temporary or occasional basis. In this case, legal persons are exempt from the procedure regarding the registration in the Body’s Records.

(7) If, in regards to exercising the expert accountant or licensed accountant profession on a temporary or occasional basis, the applicant provided for in paragraph (6) is at his first request in Romania or if a material change arises in his circumstances, the applicant will submit a statement to the Body of Expert and Licensed Accountants of Romania regarding the services to be performed, accompanied by the following documents:

a)  Evidence of citizenship in one of the Member States of the European Union or of the European Economic Area or of the Swiss Confederation;

b)  Certificate attesting knowledge of the Romanian language;

c)  Evidence of the professional qualification;

d)  Evidence attesting settled domicile in a Member State of the European Union or of the European Economic Area or of the Swiss Confederation and that there is no interdiction, even on a temporary basis, on practicing the profession at the time of issuance.

e)  Evidence that the applicant has performed an activity specific to the expert accountant or licensed accountant profession for at least 2 years in the last 10 years, in cases when the profession is not regulated in the state of residence.

(8) If verifying the legality of the documents submitted for obtaining authorisation is necessary, this may be performed by the Body of Expert and Licensed Accountants of Romania contacting the competent authorities of the Member State of the European Union or of the European Economic Area or of the Swiss Confederation, through the Internal Market Information System (IMI), in accordance with the legal provisions.

(9) Registration of the expert accountants or licensed accountants provided for in paragraph (3), as well as of the legal persons provided for in paragraph (4), in the Body’s Records, and enrolment by the Body of Expert and Licensed Accountants of Romania of the expert accountants and licensed accountants provided for in paragraph (5) shall be made within 30 days from the date when the applicant submitted all the documents attesting compliance with the legal provisions.

(10) The authorization procedures and formalities provided by this ordinance may be met through the electronic point of single contact, in accordance with the legal provisions.

(11) For the application of the provisions under paragraph 1 to 10, the Body of Expert and Licensed Accountants of Romania issues standards subject to the Superior Council approval.

SECTION 3

Governance of the Body of Expert and Licensed Accountants

ART. 27

1. The governing structures of the Body of Expert and Licensed Accountants are: the National Conference, the Superior Council of the Body and the Standing Bureau of the Superior Council.

2. The governing structures of the branches are: the General Assembly, the Branch Council and its Standing Bureau.

ART. 28

1. Annual financial statements of the Body are subject to statutory audits, according to the law.

2. Censors elected by General Assemblies shall control the activity of the Body branches.

ART. 29

1. The organization and operation of the Body of Expert and Licensed Accountants shall be established by means of its Regulations approved by the Ministry of Economy and Finance and of the Ministry of Justice.

2. Any amendment of and/or supplement to the regulations shall be made only within the limits of the provisions in paragraph (1).

ART. 30

1. The National Conference of expert and licensed accountants shall be constituted of the members of the Body’s Superior Council, the council members of the Body’s branches, members of the superior discipline commissions, members of the Branches’ discipline commissions, as well as 1 representative for every 100 members of each branch, designated by the general assembly.

(1^1) A representative of the Public Interest Oversight Board for the Romanian Accounting Profession shall also attend, as guest, the National Conference meeting.

2. The National Conference shall be legally constituted with the participation of the majority of members provided for in paragraph (1), and decisions shall be adopted validly with the vote of the majority of the present members.

3. The first Conference shall consist of the presidents of the Body branches and the delegates of expert and licensed accountants, under the conditions provided for in paragraph (1).

4. If, at the first convening, the necessary number of present members is not met, the National Conference shall be convened again. The latter shall be legally constituted with the participation of at least 30% of the number of members and representatives provided for in paragraph (1).

ART. 31

The National Conference shall have the following responsibilities:

a)    Sets up basic guidelines to ensure a good practice of the expert accountant and licensed accountant professions;

b)    Approves the Organizational and Operational Regulations of the Body of Expert and Licensed Accountants of Romania, as well the amendments and the supplements thereof. The approved Regulation shall be submitted for clearance to the Public Interest Oversight Board for the Romanian Accounting Profession, to the Ministry of Economy and Finance and to the Ministry of Justice;

b^1) Approves the Code of professional and ethical conduct of expert and licensed accountants, subject to the compliance of international provisions on that matter;

c)    Approves the budget of income and expense as well as the annual financial statements of the Body of Expert and Licensed Accountants of Romania;

d)    Approves the remuneration charts for the Body and the Branches governance structures as well as for their own personnel;

e)    Elects and revokes the members of the Superior Council of the Body of Expert and Licensed Accountants of Romania;

f)     Reviews the activity of the Superior Council and of the Branches Councils and sets up the necessary actions;

g)    *** Rescinded

h)    Approves the Superior Council annual action plans and those of the Branches Councils;

i)      Elects and revokes presidents and members of the Superior Discipline Commission;

j)      Fulfils any other responsibility provided for in this ordinance.

ART. 32

1. The National Conference elects the President of the Superior Council from among the members of the Body of Expert and Licensed Accountants. That person may cumulate the position only if he/she performs in the field of research or in an accountancy-related superior education structure, with a high professional and moral reputation.

2. The President of the Superior Council, the full and alternate members shall be elected by means of secret ballot for a 4 year period. For continuity purposes, the mandates of half of the elected members shall be terminated after a 2 year period. The members whose mandate is terminated are nominated by means of secret ballot. For the other members, the mandate shall be terminated after a 4-year period and they shall not be included on the candidate lists any longer. The President and the members whose mandate is terminated may be re-elected after a period equal to that of the fulfilled mandate.

3. The President of the Superior Council may hold two mandates at most.

4. The provisions in paragraphs (1), (2) and (3) regarding the election process shall also apply to the branches of the Body of Expert and Licensed Accountants.

5. The President of the Superior Council and the Presidents of territorial branches may not be involved in the executive management of the Body of Expert and Licensed Accountants of Romania.

6. The President of the Superior Council represents the Body of Expert and Licensed Accountants both before the public authorities and in the relationships with domestic and foreign natural and legal persons.

ART. 33

1. The Superior Discipline Commission is attached to the Body Superior Council and it consists of 5 full members and 5 alternate members. The members of the Superior Discipline Commission are elected by the National Conference for a 4 year period from among the expert accountants registered in the Body Members’ Record, enjoying a high professional and moral reputation.

2. *** Rescinded

3. The Superior Discipline Commission shall apply disciplinary sanctions provided for in Art. 17 and shall solve appeals against the disciplinary decisions pronounced by the branches’ discipline commissions.

4. Appeals against the decisions issued by the Superior Discipline Commission shall be submitted to the Superior Council of the Body of Expert and Licensed Accountants of Romania. Appeals against the Superior Council decisions can be submitted to the Contentious administrative Office attached to the Bucharest Court.

5. Infringements by members of the Body governing structures, of its branches and of the Superior Discipline Commission of the Body shall be investigated by the Discipline Commission of the Public Interest Oversight Board for the Romanian Accounting Profession. The decisions issued by this Discipline Commission shall be published on the Body of Expert and Licensed Accountants website.

6. Appeals against the sanctions applied by the Discipline Commission can be submitted to the Contentious administrative Office attached to the Bucharest Court.

ART. 34

1. The General Assembly of the branches consists of expert and licensed accountants with permanent residence in the respective county or in the city of Bucharest, accordingly.

2. The General Assembly of the branch shall be legally constituted with the participation of the majority of members provided for in paragraph (1), and decisions shall be adopted validly with the vote of the majority of present members.

3. If, at the first convening, the necessary number of present members is not met, the general assembly shall be convened again, within 30 days and the latter shall be legally constituted with the participation of at least 30% of the number of members provided for in paragraph (1).

ART. 35

The General Assembly of the branch has the following responsibilities:

a)    to approve the budget of income and expense of the branch and the execution thereof;

b)    to ensure the good practice of the expert accountant and licensed accountant professions at a local level;

c)    to elect and to revoke the Council members for the respective branch of the Body of Expert and Licensed Accountants and the censors thereof;

d)    to nominate, from among its members, candidates for the Superior Council of the Body of Expert and Licensed Accountants;

e)    to assess the activity of the branch’s council and the activity of the discipline commission attached to it and to decide thereon;

f)     To fulfil any other responsibility established by the law and by the regulations or decided upon by the Superior Council of the Body of Expert and Licensed Accountants.

ART. 36

1. A discipline commission is attached to the council of the branch, consisting of 5 full members and 5 alternate members: the president and 4 members elected by the General Assembly for a 4 year period from among the member expert accountants, enjoying a high professional and moral reputation

2. The alternate members are designated under the same conditions.

3. The discipline commission of the branch shall apply the disciplinary sanctions provided for under Art.17(a), (b), and (c).

ART. 37

1. The Body of Expert and Licensed Accountants and its branches shall cover their expenses by means of the following income sources:

  • the registration fee for the admission examination for the qualification of expert accountant and licensed accountant;
  • the registration fee for registration in the Database of the Body of Expert and Licensed Accountants;
  • membership fees determined by income range;
  • revenues from the sale of its own publications;
  • donations;
  • Other revenues generated by the activity of the Body of Expert and Licensed Accountants and of its branches, as established by Regulations.

2. Registration fees and membership fees per income range shall be established annually by the National Conference of Expert and Licensed Accountants.

Chapter 4

Public Oversight

ART. 38

1. The Body of Expert and Licensed Accountants of Romania acts under the supervision of the Public Interest Oversight Board for the Romanian Accounting Profession.

2. CECCAR activity is subject to the public interest oversight of this Board according to the provisions of paragraph 1 above, mainly for the purpose of the following:

a)    certifying and registering CECCAR members;

b)    adopting professional ethics and internal quality control standards for legal persons that are CECCAR members;

c)    continuous professional development for CECCAR members;

d)    quality assurance and quality assurance reviews;

e)    providing investigation and disciplinary systems;

f) approving the revocation of CECCAR members’ license;

3. Public interest oversight consists of validating the standards and the decisions issued by the Body of Expert and Licensed Accountants of Romania as well as overseeing the application thereof.

4. CECCAR activity can be subject to certain investigations carried out by the Public Interest Oversight Board for the Romanian Accounting Profession which is entitled to take any necessary actions when identifying legal infringements.

Art.39 *** Rescinded

ART. 40

1. In order for the Public Interest Oversight Board for the Romanian Accounting Profession to fulfil its responsibilities related to the oversight of the accounting profession, the Body of Expert and Licensed Accountants of Romania shall provide the Board with a copy of the resolutions and decisions taken, as well as all the materials submitted for approval of the Superior Council, of the Standing Bureau and of the National Conference; upon the Board’s request, the Body shall also provide documents underlying the resolutions and decisions thereof, within 7 days from their adoption.

2. CECCAR shall provide the Public Interest Oversight Board for the Romanian Accounting Profession with any requested materials that are deemed as necessary to fulfilling the public interest oversight role over the activity performed by CECCAR.

Art.41 *** Rescinded

Art.42 *** Rescinded

ART. 43*)

1. The undertaking of any responsibility specific to the expert or licensed accountant titles by unauthorized persons or by those who find themselves in a situation of incompatibility shall be considered an infringement and shall be sanctioned according to the provisions of criminal law.

2. Persons undertaking any responsibility specific to the expert and licensed accountant titles without being granted the annual visa shall receive a disciplinary sanction according to the provisions of CECCAR Organizational and Operational Regulations.

ART. 43

1. The undertaking of any responsibility specific to the expert or licensed accountant titles by unauthorized persons shall be considered an infringement and shall be sanctioned according to the provisions of criminal law.

ART. 44

1. General interest resolutions and decisions adopted by the Superior Council, the Standing Bureau and the National Conference shall be published in Part I of the Official Journal of Romania within 30 days since its adoption. Resolutions and decisions that do not generally concern CECCAR members shall be published on CECCAR website within 10 days since their adoption.

2. Resolutions and decisions taken by the Body regarding the activities provided for under Art.38 paragraph 2 shall be published after having been cleared with the public interest oversight board.

3. Default to publish these resolutions and decisions under the terms of paragraphs 1 and 2 shall result in them not being opposable to the Body members or to other natural and legal persons.

ART. 44^1

The provisions in this ordinance shall be completed by the Government Emergency Ordinance no.49/2009 on the free constituency of service providers and on the free service provision in Romania, approved with its subsequent amendments and supplements by Law 68/2010.

Chapter 5

Transitory and final provisions

ART. 45

Persons that have been granted the qualification of expert accountant according to the provisions of the Decree no. 79/1971 on Accounting and Technical Expertise shall retain this qualification if they meet the requirements provided for in Art.4(a) and (c).

ART. 46

The organization of the general assemblies for the establishment of branches, as well as the organization of the first national conference of expert and licensed accountants, shall be carried out by the Ministry of Economy and Finance within 90 days of the publication of the present ordinance in the Official Journal of Romania.

ART. 47

1. The responsibilities of the general directorates for public finance and state financial control of the national counties and of the city of Bucharest*), regarding the judiciary accounting and technical expertise, in connection to the registration and recommendation of experts, the follow up of the receipt of fees and the payment thereof, shall pass, according to the law, to the county courts and to the court of the city of Bucharest.

2. The general directorates for public finance and state financial control of the national counties and of the city of Bucharest shall forward to the county courts and to the court of the city of Bucharest, within 30 days from the establishment of the Body of Expert and Licensed Accountants, a record of the expert accountants and of technical accountants, the archives of the technical expertise, as well as the current accounting expertise and judiciary technical expertise works, in order to ensure that the judiciary expertise activity is carried out according to the legal regulations.

3. For the fulfilment of the responsibilities provided for in paragraphs (1) and (2), the position charts of the courts shall be supplemented each with a position of specialized inspector or referent, and those of the Court of the city of Bucharest**) shall be supplemented with three such positions.

ART. 48

1. The General directorates for public finance and state financial control of the national counties and of the city of Bucharest shall transfer in the accounts of the branches of the Body of Expert and Licensed Accountants of Romania the balance resulting from the 10% quota retained from the fees received for any accounting expertise undertaken.

2. The balance resulting from the 10% quota on the fees for any technical expertise shall be transferred to the account of the Ministry of Justice – the Central Office for Technical Expertise – opened at the Savings Bank (CEC).

ART. 49

1. The present ordinance shall become effective on the date of its publication in Part I, of the Official Journal of Romania.

2. Beginning with the date this ordinance enters into force, the provisions referring to the accounting expertise in the Decree no.79/1971 on Accounting and Technical Expertise shall be abrogated. The provisions of Decree no. 79/1971 regarding the technical expertise shall continue to be effective.


**) See Government Decision no.227/2008 on the approval of the Regulations on the Access to the Expert Accountant and Licensed Accountant Professions.

*) Currently, the attributions of the Ministry of Finance and those of the Ministry of National Education have been taken over by the Ministry of Economy and Finance, respectively by the Ministry of Education, Research and Youth

*) See the Body of Expert and Licensed Accountants Superior Council Decision no.115/2008 for the application of Art.7 of Government Decision no.65/1994 on the organization of the accounting expertise and licensed accountants’ activity

*) According to Art.47 and Art.247 of Law 187/2002 (#M2) as of the 1st of February 2014 (when Law 286/2009 on the Criminal Code became effective), paragraph 1 of Art.43 shall be amended and shall have the following wording:

*) Currently, the directorates for public finance of the national counties and the city of Bucharest function within the Ministry of Economy and Finance, in accordance to the provisions of the Government Decision No. 386/2007

**) According to the Law No. 304/2004 on the Organization of Courts, republished, “The Court of the city of Bucharest” has been replaced with “the Bucharest Court”.