Audit and Financial Services News

You will find here our latest Audit and Financial Services issued by Mazars.

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Regulatory Watch July 2018

A roundup of recent banking regulatory matters including a look at what’s on the current regulatory radar, the revision of the Internal Rating Based (IRB) Approach, the operational risk from a cyber-security perspective and data management – the implementation of BCBS 239.

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Regulatory Alert 01 - Penalties between 50,000 and 100,000 lei for failure to organize and perform internal audit activities

Law 162/2017 of 06 July 2017 sets out penalties for failure to comply with internal audit and audit committee requirements, namely for:
- Failure to organize and perform the internal audit activity by entities whose financial statements are subject to statutory audit;
- Lack of an audit committee within public-interest entities.

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