The Finance Ministry is to present three ordinance drafts to the Government next week. The drafts are about internal audit and preventive financial control, profit distribution for state-run companies and enforcing accounting regulations, Maria Manolescu, state secretary within the Finance Ministry, was quoted as saying by Mediafax.
The three drafts were discussed by representatives of the ministry and of the employers associations and unions at the Ministry headquarters last Friday.
The first ordinance draft concerns stipulations in Government Ordinance 119/1999 on internal audit and preventive control that must be brought in line with the European legislation and directives.
Other stipulations to be aligned to the European norms are those in the ordinance amending Accounting Law 82/1991 republished.
“The important thing about the accounting legislation is that the companies are to be divided into categories: large companies, to use international accounting standards, and small and medium-sized enterprises that may use the simplified regulations.
Furthermore, we set the deadline for submitting balance sheets to 60 days for small companies and to 120 days for large companies,” Manolescu specified.
The Finance Ministry will also present an ordinance to set the after-tax profit distribution-related priorities for state-run companies, regies autonomes, and national companies.