The role of the extrajudicial accounting survey in reviewing and certifying financial statements. A case study

• Author: Busuioceanu, S.
• Position: Dept. of Finances, Accounting and Economics, Transilvania University of Brasov
• Pages: 147-152

Bulletin of the Transilvania University of Braşov • Vol. 6 (55) •No. 2 - 2013

Series V: Economic Sciences

THE ROLE OF

THE EXTRAJUDICIAL ACCOUNTING

SURVEY IN REVIEWING AND

CERTIFYING FINANCIAL STATEMENTS.

A CASE STUDY

Steliana BUSUIOCEANU

1

Abstract: As our society develops, tra nsactions between companies become

increasing ly complex. The amount of data involved is bigger and bigger, while

decision makers ar e more and more likely to receive incorrect information. In

order to improve the relia bility and r elevancy of the information they use,

decision makers resort to assura nce services which can be performed by

financial auditor s, chartered accounta nts or other specialists. The

contribution o f the accou nting survey to the prevention of da mage, the

preservation of the integrity of the cultural assets a nd the compliance with the

law a re efficient not only given their use as evidence in court, but also as a

means to ground decisions or to guara ntee the fact that the accounting balance

sheet offers a true, clear and co mplete view over the assets, financial

statements, the profit (loss) for the period. These finan cial a nd accounting

ana lyses and certifications of the assets a nd the possibility of the economic

agent to make profit and, consequently, to be financially efficient, represents a

proof of reliability for the other economic agents when establishing sound

economic rappor ts.

Key words: certification, an nual accounts, repor t, fiscal year.

1. Introduction

Throughout their activity, economic

agents undergo accounting and fiscal audits

performed by bodies or people such as

financial and fiscal institutions, censors,

economic and financial control public

institutions. On the other hand, considering

the case of small and medium-sized

enterprises, shareholders and their

associates quite often face the need to be

assured and even receive guarantees that the

balance sheet gives a true, clear and

complete view of the assets, financial

1 Dept. of Finances, Accounting and Economics, Transilvania University of Braov.

statements and profit (loss) for the period.

With this aim in mind, professional

accountants accomplish the mission of

reviewing the accounts, which ends with the

issuing of a document entitled Certification

or Report. By means of this document, the

chartered accountant states he complied

with the provisions of professional

regulations with respect to the mission of

reviewing accounts, the drawing up and

presentation of financial statements,

specifying that his/ her mission is not a

statutory audit one. The chartered