The Moldovan government has approved amendments and additions to the Law on the Audit of Financial Statements
As noted by the Ministry of Finance, the changes were made at the suggestion of the head of the department Victoria Belous, and they are necessary to consolidate the legislative framework in the field of audit, bring national practice in line with European standards, thereby contributing to the preparation of Moldova for accession to the European Union. Among the main approved changes is the limitation of civil liability of auditors and audit entities. The provisions allow for the conclusion of an agreement between auditors and audited entities on the limitation of civil liability in the event of damages, with the exception of situations of intent or issuance of an improper audit opinion that lead to material distortions. The draft law also provides for additional rules for the report sent to the audit committee. Thus, mandatory signing and dating of the auditor's report is introduced, as well as an explanation of possible differences of opinion when several audit entities participate in the audit of the same management period. // 18.12.2024 — InfoMarket.
