Corporate governance – the set of rules governing the Romanian Federation of Automobile Sports

Abstract

Integration into the European Union forced Romania to find ways to streamline business and alignment with international regulations in various fields, primarily in order to adopt best practices and secondly to remove the inconsistencies encountered in business activity and public institutions.
Thus, besides the gradual assimilation into national legislation International Financial Reporting Standards (IAS / IFRS) in the economic entity, the audit organization won both the businesses and public institutions. Necessary beeing the transition to a new accounting system based on the European System of Accounts for public institutions and other improvements related economic and fiscal legislation.
Accession to the European Union requires the existence of strong financial management systems, and ways to control them, due to the fact that our country will use Community funds to be used to maximum efficiency. This situation called for more attention to audit activity in all its forms (financial, statutory, internal and so on).