Transparency Statement 2017

BDO Romania 

Introduction

(1) Member States shall ensure that statutory auditors and audit firms that carry out statutory audit(s) of public-interest entities publish on their websites in accordance with the Law 162/2017 regarding the Statutory Audit, EU Regulation nr. 537/2014 regarding the specific requests regarding the statutory audit of public interest entities, within three months of the end of each financial year, annual transparency reports that include at least the following:

A) A description of the legal structure and ownership of the audit firm;

B) Where the statutory auditor or the audit is a member of a network:

(i) a description of the network and the legal and structural arrangements in the network;

(ii) the name of each statutory auditor operating as a sole practitioner or audit firm that is a member of the network;

(iii) the countries in which each statutory auditor operating as a sole practitioner or audit firm that is a member of the network is qualified as a statutory auditor or has his, her or its registered office, central administration or principal place of business;

(iv) the total turnover achieved by the statutory auditors operating as sole practitioners and audit firms that are members of the network, resulting from the statutory audit of annual and consolidated financial statements;

C) A description of the governance structure of the audit firm;

D) A description of the internal quality control system of the statutory auditor or of the audit firm and a statement by the administrative or management body on the effectiveness of its functioning;

E) An indication of when the last quality control referred to in Article 26 was carried out;

F) A list of public interest entities for which the statutory auditor or the audit firm has carried out statutory audits during the preceding financial year;

G) A statement concerning the audit firm's independence practices which also confirms that an internal review of independence compliance has been conducted;

H) A statement on the policy followed by the statutory auditor or the audit firm concerning the continuing education of statutory auditors referred to in Article 13 of Directive 2006/43/EC;

I)  Information concerning the basis for the partners’ remuneration in audit firms;

J)  A description of the statutory auditor’s or the audit firm’s policy concerning the rotation of key audit partners and staff in accordance with Article 17(7);

K) Total turnover of the statutory auditor or the audit firm, divided into:

(i) revenues from the statutory audit of annual and consolidated financial statements of public-interest entities and entities belonging to a group of undertakings whose parent undertaking is a public- interest entity;

(ii) revenues from the statutory audit of annual and consolidated financial statements of other entities;

(iii) revenues from permitted non-audit services to entities that are audited by the statutory auditor or the audit firm;

(iv) revenues from non-audit services to other entities.

All information provided in this Statement relates to the 31^st of December 2017.