Audit of Fiscal Obligations at Economic Entities from Romania

• Main Author: Daniel Marius Moscu
• Format: Article
• Language: English
• Published: Danubius University 2020-10-01
• Series: Journal of Danubian Studies and Research
• Subjects: shareholders; bankruptcy; taxation; obligations; stability
• Online Access: https://dj.univ-danubius.ro/index.php/JDSR/article/view/497/557

The audit of fiscal obligations, or the fiscal audit, as it is also called in the specialized literature, can be considered both as an integral part of the financial audit of the annual financial statements, and as an independent audit. Fiscal obligations are obligations that all economic entities in Romania have and that have a special characteristic, respectively they bear interest and penalties for delay or non-declaration. These fiscal obligations are part of the budget revenues and represent the support of the expenses that the state administers. From another point of view, the level of these fiscal obligations and the way in which they are declared and paid, constitute reference points for the partners of the respective entities - state authorities, shareholders, banks, creditors, suppliers, customers, employees, and others. An entity that has up-to-date tax obligations, proves financial stability and security for all individuals and legal entities with which it interacts. even more so because of financial instability or even imminent bankruptcy.