Romania

Transparency Report 2008 

It's an exciting time to be in our profession. Our global economy produces great challenges as well as great opportunities. That’s why our role as auditors in contributing to the integrity of the capital markets by supporting transparent, accurate financial reporting never has been more valued.

 

Transparency Report 2008


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Summary

KPMG in Romania provides its clients

with independent, quality work, earning

a reputation for independence, integrity,

ethical behaviour, and objectivity. KPMG

in Romania promulgates policies of

quality control including independence

that encompass the standards issued

by the International Federation of

Accountants (IFAC), which have also

been adopted by the Romanian

Chamber of Financial Auditors (CAFR).

Many of these policies and their

associated procedures have been

established by KPMG International to

provide reasonable assurance that its

member firms comply with relevant

professional standards and regulatory

requirements.

 

KPMG in Romania has established and

maintains quality control policies and

procedures, which encompass the

principal elements of International

Standard of Quality Control (ISQC) 1.

These are designed to meet or exceed

the expectations of audit committees

(our clients) as well as the rules and

standards issued by the Romanian

Chamber of Financial Auditors (CAFR),

the International Federation of

Accountants (IFAC) as well as the Public

Company Accounting Oversight Board

(PCAOB). KPMG in Romania’s quality

controls also monitor compliance with

the Sarbanes-Oxley Act of 2002, the

rules set by the U.S. Securities and

Exchange Commission (SEC), as well as

International Standard of Quality Control

(ISQC).

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