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Through Innovation, a High Performance Culture, Integrity and a mission of “Cutting Through Complexity”, KPMG in Romania is ready for what we face in today’s and tomorrow’s world.

Romanian IFRS Institute

The Romanian IFRS Institute is a resource dedicated to the implementation process of IFRS, providing useful information about the global financial reporting framework for CFOs, members of the Board, leaders and shareholders of companies.
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Advisory Newsflash

Welcom to KPMG in Romania Advisory newsflashes' page.

List of states which present a high risk of migration revised

This Order adds the following countries to the list of states whose nationals require an invitation procedure to be granted short-stay visas.

New amendments to public procurement legislation

GEO 35/2013 provides for measures primarily aimed at speeding up and streamlining the procurement process.

Impact of recently established Financial Supervisory Authority

The Law on the establishment, organization and operation of the Financial Supervisory Authority (“FSA”) has been published in the Official Journal of Romania.

Bidders to benefit from fixed payment periods in public procureme

One of the arguments for the adoption in the Community acquis of Directive 2011/7/EU was that public authorities are better placed than companies when entering into a business relationship.

How to better deal with complaints and disputes in public procurement and PPP matters

The competent authorities responsible for the settlement of complaints and disputes arising in the process of public procurement and public-private partnerships have to deal with a plethora of situations.

ANRMAP Report: Contracting authorities’ competences in awarding procedures found weak with relevant implications on bidders

ANRMAP evaluates the conformity of the awarding documentation for public procurement contracts with the applicable public procurement legislation.

New rules to assist companies, for combating late payment in commercial transactions

The contract term for debts payment may not exceed 60 calendar days.

Contracting authorities and undertakings to comply with new payment term in transactions

Directive 2011/7/UE on combating late payment in commercial transactions was published in the Official Journal of the European Union.

Average gross salary for 2013

Law no. 6 / 2013 approving the public social security budget for 2013 (“the Law”) has been published in the Official Journal of Romania (no. 107 / 22 February 2013).

Small claims procedure under the New Civil Procedure Code

As part of the process for the improvement of special procedures, the small claims procedure is one of the novelties introduced under the New Civil Procedure Code.

Formalities imposed by the New Civil Procedure Code

Law no. 76 of 24 May 2012 imposes new obligations on companies in terms of their corporate name.

Classification of Occupations in Romania amended

Joint Order on the amendment of the Classification of Occupations in Romania.

Payment Ordinance under the New Civil Procedure Code - a useful tool for creditors

The absolute novelty brought by the NCPC is the creditor’s right to file a petition to revoke a payment ordinance (art. 1023 par.2).

Labour Inspection Must-Knows

Did you know that in your capacity as employer, you may face labour inspections in relation to the following two areas of your business: Health and Safety and Employment Relationships?

IFRS compared to US GAAP: An overview

© 2013 KPMG Romania S.R.L., a Romanian limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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Romanian IFRS Institute

Advisory Newsflash