LEGE no. 82 82 of 24 December 1991 (** republished) (* updated *) of accounting ((updated until 11 December 2015 *)
ISSUER
PARLIAMENT
---------- ** **) Republicated pursuant to art. II of Government Emergency Ordinance no. 102/2007 to amend and supplement Accounting Law no. 82/1991 , published in the Official Gazette of Romania, Part I, no. 689 of 10 October 2007, approved with amendments Law no. 86/2008 , published in the Official Gazette of Romania, Part I, no. 292 of 15 April 2008, giving the texts a new numbering. Accounting Law no. 82/1991 was also republished in the Official Gazette of Romania, Part I, no. 48 48 of 14 January 2005 and subsequently amended by Law no. 259/2007 to amend and supplement Accounting Law no. 82/1991 , published in the Official Gazette of Romania, Part I, no. 506 506 of 27 July 2007. Note ... ---------- According art. II of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011, throughout the whole Accounting Law no. 82/1991 , republished, the words "financial auditor" and "financial audit" are replaced by the words "statutory auditor" and "statutory audit". ---------- + Chapter I General provisions + Article 1 (1) Companies, companies/national companies, autonomous regions, national research and development institutes, cooperative societies and other legal entities have the obligation to organize and conduct financial accounting, according to this law ... (2) Public institutions, associations and other legal entities with and without patrimonial purpose have the obligation to organize and conduct financial accounting. ... (3) Subunits without legal personality, based abroad, belonging to the persons referred to in par. (1) and (2), based in Romania, as well as subunits without legal personality in Romania belonging to legal entities based abroad have the obligation to organize and conduct their own accounting, according to this law. ... ((4) Collective investment undertakings which are not constituted by articles of association, as provided for in the capital market legislation, voluntary pension funds, privately managed pension funds and other entities organised on the basis of The civil code is required to organize and conduct financial accounting. ... (5) Individuals who carry out income-producing activities, defined by the Fiscal Code, and whose incomes are determined in real system have the obligation to conduct accounting records based on the rules of accounting in the simple game or, at their option, based on the rules of accounting in the double game, according to the accounting regulations issued in this regard, unless otherwise provided for in the tax legislation. ... ---------- Alin. ((5) art. 1 1 has been amended by section 1 1 al. I of LAW no. 121 121 of 29 May 2015 , published in MONITORUL OFFICIAL no. 382 382 of 2 June 2015, amending section 1 1 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. (6) Persons referred to in par. (1)-(4) organize and lead, as the case may be, the management accounting, according to the regulations elaborated in this regard. ... ------------ Article 1 has been amended by section 1. 1 1 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 2 ((1) Accounting is an activity specialized in the measurement, evaluation, knowledge, management and control of assets, debts and equity, as well as the results obtained from the activity of the persons referred to in art. 1. To this end, the accounting must ensure chronological and systematic registration, processing, publication and retention of information on the financial position, financial performance and other information relating to the activity carried out, both for their internal requirements and in relations with present and potential investors, financial and commercial creditors, customers, public institutions and other users. ... ------------ Alin. ((1) of art. 2 2 has been amended by section 2 2 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (. Public accounting shall include: ... a) the accounting of budget revenues and expenditures, reflecting the collection of revenues and the payment of expenses related to the budget year; ... b) accounting of the State Treasury; ... c) the general accounting based on the principle of the finding of rights and obligations, reflecting the evolution of the financial and patrimonial situation, as well as of the surplus or the patrimonial deficit; ... d) repealed. ... ------------ Lit. d) a par. ((2) of art. 2 2 has been repealed by section 6.6. 3 3 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (3) The accounting of public institutions shall provide information to authorising officers on the implementation of revenue and expenditure budgets, assets under management, and for the preparation of the annual general budget execution account state, the annual execution account of the state social insurance budget, special funds, as well as the annual execution accounts of local budgets. ... + Article 3 ((1) The accounting shall be held in Romanian and in national currency. ... (2) The accounting of operations carried out in foreign currency is held both in national currency and in foreign currency, according to the regulations elaborated in this regard. ... ((3) Abrogat. ... ------------ Alin. ((3) of art. 3 3 has been repealed by section 6.6. 4 4 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 4 (1) The Ministry of Public Finance shall develop and issue rules and regulations in the field of accounting, the general accounts plan, the models of financial statements, registers and common forms on financial and accounting activity, the rules methodological for their preparation and use *). ... Note ... ---------- * *) See: - Order no. 1.917 1.917 of 12 December 2005 for the approval of the Methodological Norms on the organization and management of the accounting of public institutions, the Accounts Plan for public institutions and its instructions for its application, published in the Official Gazette 1.186 1.186 of 29 December 2005; - Order no. 1.802 1.802 of 29 December 2014 for the approval of the Accounting Regulations on individual annual financial statements and consolidated annual financial statements, published in the Official Gazette no. 963 963 of 30 December 2014. ---------- (2) The Ministry of Public Finance shall develop and issue rules on accounting in simple game. ... (3) The rules and accounting regulations specific to certain fields of activity shall be elaborated and issued by the institutions responsible for this purpose, with the opinion of the Ministry of Public Finance, as follows: ... a) by the National Bank of Romania, for credit institutions, non-banking financial institutions, defined according to the legal regulations, entered in the General Register, payment institutions and electronic money institutions, defined according to the law, which grants credits related to payment services and whose activity is limited to the provision of payment services, namely electronic money issuance and payment service provision, and for the Guarantee Fund deposits in the banking system *); ... b) by the Financial Supervisory Authority, for authorized entities, regulated and supervised by this institution *). ... ---------- Alin. ((3) of art. 4 4 has been amended by section 2 2 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. Note ... ---------- * *) See: - NBR Order no. 27 27 of 16 December 2010 for the approval of the Accounting Regulations in accordance with the International Financial Reporting Standards, applicable to credit institutions published in the Official Gazette no. 890 890 of 30 December 2010; - NBR Order no. 6 6 of 17 July 2015 for the approval of accounting regulations in accordance with the European Directives published in the Official Gazette no. 540 540 of 20 July 2015; - ASF Rule no. 10 10 of 5 August 2015 for the implementation of the Accounting Reporting System on June 30, 2015 of insurance companies published in the Official Gazette no. 606 606 of 11 August 2015; - ASF Rule no. 14 14 of 5 August 2015 on accounting regulations in accordance with the European Directives applicable to the private pension system published in the Official Gazette no. 706 706 of 21 September 2015; - ASF Rule no. 36 36 of 23 December 2015 for the approval of the Accounting Regulations on individual annual financial statements and consolidated annual financial statements applicable to insurance and/or reinsurance brokers, published in the Official Gazette no. 976 976 of 29 December 2015; - ASF Rule no. 39 39 of 28 December 2015 for the approval of accounting regulations in accordance with International Financial Reporting Standards, applicable to authorised entities regulated and supervised by the Financial Supervisory Authority of the Instruments Sector and financial investments published in the Official Gazette no. 982 982 of 30 December 2015; - ASF Rule no. 40 40 of 28 December 2015 for the approval of accounting regulations on annual financial statements and consolidated annual financial statements, applicable to authorized entities, regulated and supervised by the Financial Supervisory Authority-Sector financial instruments and investments published in the Official Gazette no. 980 980 of 30 December 2015; - ASF Rule no. 41 41 of 30 December 2015 for the approval of the Accounting Regulations on the individual annual financial statements and the consolidated annual financial statements of the entities carrying out insurance and/or reinsurance activity published in the Official Gazette no. 2 2 of 4 January 2016; - CNVM Order no. 70 70 of 3 August 2006 for approval Instruction no. 5/2006 on the semi-annual accounting reporting system of authorized entities, regulated and supervised by the National Securities Commission published in the Official Gazette no. 693 693 of 14 August 2006. ---------- (4) Development of the regulations provided in par. ((1), (2) and (3) shall be done in consultation with the relevant professional bodies. ... + Article 5 (1) Persons referred to in art. 1 1 para. ((1)-(4) have the obligation to lead the accounting in the double game and to draw up annual financial statements, according to the applicable accounting regulations. Subunits opened in Romania by companies resident in states belonging to the European Economic Area have the obligation to organize and conduct their own accounting, according to this law, without drawing up annual financial statements for their own activity. ... ------------ Alin. ((1) of art. 5 5 has been amended by section 6 6 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. ((1 ^ 1) Abrogat. ---------- Alin. ((1 ^ 1) of art. 5 5 has been repealed by section 6.6. 3 3 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. ((1 ^ 2) Abrogat. ---------- Alin. ((1 ^ 2) of art. 5 5 has been repealed by section 6.6. 3 3 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. ((1 ^ 3) Abrogat. ---------- Alin. ((1 ^ 3) of art. 5 5 has been repealed by section 6.6. 3 3 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. ((1 ^ 4) Abrogat. ---------- Alin. ((1 ^ 4) of art. 5 5 has been repealed by section 6.6. 3 3 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. (2) The categories of persons who can keep the accounting in the simple game shall be established by order of the Minister of Public Finance. ... (3) For employers ' and trade union organizations, as well as for other categories of organizations without patrimonial purpose, which do not carry out economic activities, the Ministry of Public Finance approves a simplified financial reporting system, having the view and requirements of the relevant European bodies ... + Article 6 (1) Any economic and financial operation carried out shall be recorded at the time of its performance in a document underlying the records in accounting, thus acquiring the quality of the justifying document. ... (2) The supporting documents underlying the records in accounting employ the responsibility of the persons who have drawn up, targeted and approved, as well as those who have registered them in accounting, as the case may be. ... + Article 7 (1) Persons referred to in art. 1 1 have the obligation to carry out the general inventory of the assets, liabilities and equity held at the beginning of the activity, at least once during the financial year, as well as in the case of merger, division or liquidation and in other situations provided by law. ... ------------ Alin. ((1) of art. 7 7 has been amended by section 8 8 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (2) The Ministry of Public Finance may approve exceptions to the rule of annual inventory for some special assets under the administration of public institutions, on the proposal of the principal authorising officers. ... ((2 ^ 1) If during the period of inventory made at the end of the year special situations consisting of changes of the premises and/or storage facilities of the assets in the patrimony, including the administration of the institutions public, authorising officers may approve that, for the goods existing in the premises and/or in the respective storage facilities, the value of the inventoried factual stocks and entered in the inventory lists of the inventories shall be included in the inventory register. the previous year, updated with the entries and exits of goods until the end of the period reporting. ------------ Alin. (2 ^ 1) of art. 7 7 was introduced by art. 23 of EMERGENCY ORDINANCE no. 57 57 of 9 December 2015 , published in MONITORUL OFFICIAL no. 923 923 of 11 December 2015. (2 ^ 2) Provisions of para. (2 ^ 1) does not apply to reorganizations of public institutions, according to the law. The authorising officers will include in the balance sheet analysis report accompanying the annual financial statements information on the reasons that generated the inventory under the conditions of par. ((2 ^ 1). ------------ Alin. (2 ^ 2) of art. 7 7 was introduced by art. 23 of EMERGENCY ORDINANCE no. 57 57 of 9 December 2015 , published in MONITORUL OFFICIAL no. 923 923 of 11 December 2015. (3) The inventory result shall be recorded in accounting according to the applicable accounting regulations. ... + Article 8 ((1) The assessment of the items held during the inventory and their presentation in the annual financial statements shall be made according to the applicable accounting regulations. ... (2) Revaluation of tangible assets shall be made at fair value, in accordance with the provisions of the applicable accounting regulations. ... ------------ Alin. ((2) of art. 8 8 has been amended by section 9 9 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (3) The assessment of monetary items in foreign currency and those expressed in lei, the settlement of which is based on the rate of a currency, shall be made according to the applicable accounting regulations. ... ------------ Alin. ((3) of art. 8 8 has been amended by section 9 9 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (4) The value of assets and debts, on the occasion of reorganizations made according to the law, shall be determined, as a rule, by assessors authorized according to the legal regulations ... + Article 9 (1) Official documents for the presentation of the economic and financial activity of persons referred to in art. 1 1 para. (1)-(4) are the annual financial statements, drawn up according to the applicable accounting regulations and which must provide a faithful image of the financial position, financial performance and other information, under the law, relating to work done. ... ------------ Alin. ((1) of art. 9 9 has been amended by section 10 10 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (2) For public institutions the official document presenting the situation of the patrimony in the administration of the state and the administrative-territorial units and the execution of the revenue and expenditure budget is the quarterly financial situation and annual. ... (3) The parent companies, thus defined in the accounting regulations applicable to groups of companies, shall also draw up consolidated annual financial statements, under the conditions provided by the applicable accounting regulations. ... ---------- Alin. ((3) of art. 9 9 has been amended by section 4 4 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. + Chapter II Organization and management of accounting + Article 10 (1) The liability for the organization and management of accounting in the persons referred to in art. 1 1 para. ((1)-(4) lies with the administrator, the authorising officer or another person who has the obligation to manage that entity. ... ------------ Alin. ((1) of art. 10 10 has been amended by section 11 11 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. ((2) The accounting shall be organized and governed, as a rule, in distinct compartments, led by the economic director, the chief accounting officer or other person empowered to perform this function. These people must have higher economic studies. By the person empowered to perform the position of economic director or chief accountant, a person employed according to the law, who has higher economic studies and who has powers regarding the management of the entity's accounting, is understood. ... ---------- Alin. ((2) art. 10 10 has been amended by section 2 2 al. I of LAW no. 121 121 of 29 May 2015 , published in MONITORUL OFFICIAL no. 382 382 of 2 June 2015, amending section 5 5 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. ((3) Accounting may be organized and conducted on the basis of contracts for the provision of services in the field of accounting, concluded with natural or legal persons, authorized according to the law, members of the Body of Chartered Accountants and Accountants Authorized from Romania. ... ((3 ^ 1) Abrogat. ---------- Alin. (3 ^ 1) of art. 10 10 has been repealed by section 6.6. 6 6 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. ((4) The liability for the improper application of the accounting regulations lies with the economic director, chief accountant or other person empowered to perform this function, together with the subordinate staff. If the accounting is conducted on the basis of service contract, concluded with natural or legal persons, authorized according to the law, members of the Body of Chartered Accountants and Authorized Accountants of Romania, liability for accounting management returns to them, according to the law and contractual provisions. ... (4 ^ 1) In the case of persons provided in art. 1 1 para. (5), liability for the organization of accounting returns to them. The management of the accounting can be carried out by these persons, in which case the liability for the accounting management lies with them. If the accounting is led according to the provisions of art. 10 10 para. (2) and (3) or on the basis of civil contracts/conventions concluded according to the Civil Code with individuals who have higher economic studies, the liability for the management of accounting lies with these persons, according to the law and the provisions contract. ------------ Alin. (4 ^ 1) of art. 10 10 has been introduced by section 13 13 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (5) Public institutions to which the accounting is not organized in separate compartments or which do not have persons with an individual employment contract or appointed to a public office, according to the law, may conclude contracts of services, for the management of accounting and preparation of quarterly and annual financial statements, with natural or legal persons, authorized according to the law, members of the Body of Chartered Accountants and Authorized Accountants in Romania. The conclusion of contracts is done in compliance with regulations on public procurement of goods and services. The payment of these services is made from public funds with this destination. ... ------------ Alin. ((5) of art. 10 10 has been amended by section 11 11 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 11 The holding, with any title, of elements of the nature of assets and debts, as well as carrying out economic-financial operations, without being registered in the accounting, are prohibited. ------------ Article 11 has been amended by section 1. 14 14 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 12 (1) The accounting of fixed assets shall be kept by category and on each item of evidence. ... (2) The accounting of stocks is held in quantity and value or only value, under the conditions established by the legal regulations. ... + Article 13 The recording, evaluation and presentation of assets, liabilities and equity shall be made according to the applicable accounting regulations. ------------ Article 13 has been amended by section 1. 15 15 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 14 Repealed. ------------ Article 14 has been repealed by point (a). 16 16 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 15 The value of the shares issued or other securities, as well as the points made in the subscribed capital account shall be reflected distinctly in accounting. + Article 16 The accounting of customers and suppliers, of the other claims and obligations shall be held by category, as well as on each individual or legal person. + Article 17 ((. The accounting of expenditure shall be kept by means of expenditure, by nature or their destination, as appropriate. ... (2) The accounting of income shall be kept by means of revenue, by nature or source, as the case may be. ... ((3) The accounting of revenue and expenditure of the consolidated general budget shall be held on the subdivisions of the budget classification ... + Article 18 The accounting of public institutions ensures the registration of the rights found, revenues collected, budgetary commitments, legal commitments, house payments and actual expenses, on the subdivisions of the budget classification, according to approved budget and methodological norms developed by the Ministry of Public Finance. + Article 19 (. In accounting, profit or loss shall be determined cumulatively from the beginning of the financial year. The closure of the revenue and expenditure accounts shall usually be made at the end of the financial year. ... (. The final result of the financial year shall be determined at its closing. ... ((3) The distribution of profits shall be recorded in the accounts by destination, after approval of the annual financial statements. ... (4) The retained accounting loss shall be covered by the profit of the financial year and that carried forward, from reserves, capital premiums and social capital, according to the decision of the general meeting of shareholders or associates. ... (5) At public institutions the result of the budget execution shall be established annually, according to the accounting regulations elaborated in this regard *) ... ------------ Alin. ((5) of art. 19 19 has been amended by section 17 17 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. Note ... ---------- * *) See also Order no. 4.075 4.075 of 18 December 2015 , for the approval of the Methodological Norms on the conclusion of the budget year of 2015 published in the Official 950 950 of 22 December 2015. ---------- (6) The surplus or the patrimonial deficit shall be determined by the public institutions, in accordance with the methodological norms elaborated by the Ministry of Public Finance *). ... Note ... ---------- * *) See also Order no. 1.917 1.917 of 12 December 2005 for the approval of the Methodological Norms on the organization and management of the accounting of public institutions, the Accounts Plan for public institutions and its instructions for its application, published in the Official Gazette 1.186 1.186 of 29 December 2005. ---------- + Chapter III Accounting records + Article 20 The mandatory accounting books are: Register-journal, Register-inventory and the Large Book. The preparation, editing and keeping of accounting records shall be carried out according to the norms developed by the Ministry of Public Finance *) Note ... ---------- * *) See Order no. 2.634 2.634 of 5 November 2015 on financial-accounting documents, published in the Official Gazette no. 910 910 of 9 December 2015. ---------- + Article 21 The accounting records shall be used in strict accordance with their destination and shall be presented in an orderly manner and so completed as to enable, at any time, the identification and control of the accounting operations carried out. + Article 22 For the verification of the correct recording in accounting of the operations carried out, the balance of verification shall be drawn up, at least at the end of the financial year, at the deadlines for the preparation of financial statements, accounting reports, and at the end of the period for which the entity must draw up the statement on the profit/income tax, according to the law ------------ Article 22 has been amended by section 18 18 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 23 (1) Persons referred to in art. 1 which uses computer systems for automatic data processing are required to ensure the processing of data recorded in accounting in accordance with the applicable accounting regulations, their control and retention on technical supports for 10 years. ... (2) Persons referred to in par. (1) have the obligation to provide tax authorities with access to data kept on technical supports. ... ------------ Article 23 has been amended by section 6.6. 19 19 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 24 Registration in accounting of operations determined by the merger, division or termination, according to the law, of the activity of the persons provided in art. 1 shall be based on the corresponding documents drawn up in such situations. + Article 25 (1) The mandatory accounting records and the supporting documents underlying the records in financial accounting shall be kept in the archive of the persons referred to in art. 1 for 10 years, starting from the date of the end of the financial year during which they were drawn up, with the exception of the states of salaries, which are kept for 50 years. ... (2) By exception to the provisions of par. ((1) can be established, justifiably, by order of the Minister of Public Finance, the accounting books and the supporting documents that are kept for 5 years *). ... Note ... ---------- * *) See Order no. 2.634 2.634 of 5 November 2015 on financial-accounting documents, published in the Official Gazette no. 910 910 of 9 December 2015. ---------- + Article 25 ^ 1 In case of reorganization of legal entities, they will take measures to preserve and archive, according to the law, supporting documents and accounting records. ------------ Article 25 ^ 1 has been introduced by item 20 20 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 26 In case of loss, evading or destruction of financial-accounting documents, measures will be taken to reconstruct them, according to the regulations issued in this regard, within a maximum of 30 days from the finding, and in case of force majeure, in days after the termination of the termination. ------------ Article 26 has been amended by section 6.6. 21 21 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. CAP IV Financial statements + Article 27 (. The financial year shall be the period for which the annual financial statements must be drawn up and, as a rule, coincide with the calendar year ... (. The duration of the financial year shall be 12 months. ... (3) The financial year may be different from the calendar year for branches based in Romania, belonging to a legal person based abroad, as well as for legal entities based in Romania. ... (4) The provisions of par. (3) shall not apply: credit institutions, non-bank financial institutions, defined according to the law, entered in the General Register, payment institutions and electronic money institutions, defined according to the law, which grant credits related to payment services and whose activity is limited to the provision of payment services, namely electronic money issuance and payment service provision, to authorized entities, regulated and supervised by the Financial supervision. ... (5) Newborn persons, who fall under the category of those referred to in par. ((3), may opt for a financial year different from the calendar year from the date of their establishment. ... (6) Persons who opt for a financial year different from the calendar year, according to par. ((3) and (5), have the following obligations: ... a) to draw up and submit annual accounting reports to the territorial units of the Ministry of Public Finance, under the conditions provided in art. 37 37; ... b) to notify in writing the territorial unit of the Ministry of Public Finance about the chosen financial year, at least 30 calendar days before the beginning of the chosen financial year. The newly established persons shall submit that notification within 30 calendar days from the date of establishment. ... ((7) Except in cases where the foreign legal person or the foreign parent company changes the reporting date or reorganization operations take place, according to the law, the date chosen for the preparation of annual financial statements under the conditions provided in par. ((3) may not be amended from one financial year to another. ... (8) The financial year of the start-up units begins on the date of establishment, according to the law. ... ((. The financial year of a legal person who shall be liquidated shall commence on the day following the end of the previous financial year and shall end on the day preceding the date of the liquidation. The liquidation period is considered a separate financial year from the previous one, regardless of its duration. ... (10) The financial year for public institutions is the budget year. ... ---------- Article 27 has been amended by section 6.6. 7 7 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. + Article 28 (1) Persons referred to in art. 1 1 para. ((1)-(4) have the obligation to draw up annual financial statements. ... ---------- Alin. ((1) of art. 28 28 has been amended by section 8 8 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. (1 ^ 1) Provisions of para. ((1) shall also apply in the case of merger, division or liquidation, under the law, in which case the financial statements have the same components with the annual financial statements. ---------- Alin. ((1 ^ 1) of art. 28 28 has been introduced by section 9 9 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. (2) The Ministry of Public Finance may establish the preparation and submission to the territorial units of the Ministry of Public Finance of financial statements or accounting reports and at periods other than annually, within the financial year. ... (3) For legal entities applying International Financial Reporting Standards (IFRS), financial statements have the components provided by these standards. ... (4) Legal persons applying the accounting regulations in accordance with the European Directives shall draw up annual financial statements, which have the components provided for by the applicable accounting regulations. ... ((5) Abrogat. ... ------------ Alin. ((5) of art. 28 28 has been repealed by section 6.6. 25 25 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (6) Legal entities without patrimonial purpose shall draw up annual financial statements, which shall be composed of the balance sheet and the account of the result of the ... ------------ Alin. ((6) of art. 28 28 has been amended by section 24 24 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (. The annual financial statements shall constitute a whole unit and shall be accompanied by the report of the administrators. ... ((8) The conditions for the preparation, auditing and publication of annual financial statements by the Romanian branches of credit institutions and other financial institutions established abroad shall be established by the institutions responsible for regulation provided for in art. 4 4 para. ((3). Those institutions shall also lay down the requirements for the information on the own business of the branches, to be published by those branches, where they are not obliged to draw up and publish annual financial statements relating to its own activity. ... ------------ Alin. ((8) of art. 28 28 has been amended by section 24 24 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (9) Public institutions shall draw up quarterly and annual financial statements, according to the norms developed by the Ministry of Public Finance *). ... Note ... ---------- * *) See also Order no. 82 82 of 18 January 2016 for the approval of the Methodological Norms on the preparation and submission of financial statements of public institutions as of December 31, 2015, for the modification and completion of the Methodological Norms public institutions, the Plan of Accounts for public institutions and the instructions for its application, approved by Order of the Minister of Public Finance 1.917/2005 , as well as for the modification and completion of other methodological norms in the field of public accounting, published in the Official Gazette no. 57 57 of 26 January 2016. ---------- (10) The annual financial statements and accounting reports shall be signed by the economic director, the chief accounting officer or other person empowered to perform this function. ... ------------ Alin. ((10) of art. 28 28 has been introduced by section 26 26 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (11) The annual financial statements and accounting reports can be drawn up and signed by natural or legal persons, authorized according to the law, members of the Body of Chartered Accountants and Authorized Accountants in Romania. ... ------------ Alin. (11) of art. 28 28 has been introduced by section 26 26 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. ((12) Abrogat. ... ---------- Alin. ((12) of art. 28 28 has been repealed by section 6.6. 10 10 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. (13) The annual financial statements and accounting reports shall also be signed by the administrator or person who has the obligation to manage the entity. ... ------------ Alin. ((13) of art. 28 28 has been introduced by section 26 26 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (14) The quarterly and annual financial statements of the public institutions shall be signed by the authorising officer and the head of the financial-accounting department or by another person empowered to perform this function. ... If public institutions do not have persons with an individual employment contract or appointed to a public office, according to the law, the quarterly and annual financial statements are signed by the authorising officer and individuals or legal, authorized according to the law, members of the Body of Chartered Accountants and Authorized Accountants in Romania. ------------ Alin. ((14) of art. 28 28 has been introduced by section 26 26 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 29 (1) The annual financial statements shall be accompanied by the report of the administrators, the audit report or the report of the censor committee, as the case may be, and the proposal for the distribution of profit or coverage of the accounting loss. ... (2) A parent company must draw up both annual financial statements for its own activity and consolidated annual financial statements, under the conditions laid down in the applicable accounting regulations. ... (3) If the parent company's annual financial statements are presented for approval with the consolidated annual financial statements, the parent company may submit a single audit report on the annual financial statements filed, in the case in which the parent company has an obligation to audit. ... ---------- Alin. ((3) art. 29 29 has been amended by section 3 3 al. I of LAW no. 121 121 of 29 May 2015 , published in MONITORUL OFFICIAL no. 382 382 of 2 June 2015, amending section 11 11 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. + Article 30 The annual financial statements will be accompanied by a written declaration of the persons referred to in art. 10 10 para. ((1) assuming responsibility for the preparation of the annual financial statements and confirms that: a) the accounting policies used to prepare the annual financial statements are in accordance with the applicable accounting regulations; ... b) the annual financial statements provide a true and fair view of the financial position, financial performance and other information relating to the work carried out; ... c) the legal entity operates under conditions of continuity. ... + Article 31 The consolidated annual financial statements shall be accompanied by a written declaration of the manager of the parent undertaking responsible for the preparation of the consolidated annual financial statements and shall confirm that: a) the accounting policies used to prepare the consolidated annual financial statements are in accordance with the applicable accounting regulations; ... b) the consolidated annual financial statements give a true and fair view of the financial position, financial performance and other information relating to the activity of the group. ... + Article 32 (1) Members of the administrative, management and supervisory bodies of legal persons are required to ensure that the annual financial statements, the management report and the report on payments to governments, when there is an obligation its preparation according to the applicable accounting regulations, to be drawn up and published in accordance with national law. ... ((2) Members of the management, management and supervisory bodies of the parent company are required to ensure that the consolidated annual financial statements, the consolidated management report and the consolidated report on payments to governments, where there is an obligation to prepare it according to the applicable accounting regulations, to be drawn up and published in accordance with national law. ... ---------- Article 32 has been amended by section 4.2. 12 12 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. + Article 33 (1) The objective of the consolidated annual financial statements is to provide a true picture of the financial position, financial performance and other information relating to the activity of the group, according to the applicable accounting regulations. ... (. The consolidated annual financial statements shall constitute a whole unit and shall have the components provided for by the applicable accounting regulations. ... ---------- Alin. ((2) of art. 33 33 has been amended by section 13 13 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. (3) When the parent company has the obligation to draw up and submit consolidated annual financial statements, the management report may be submitted in the form of a single report. ... ---------- Alin. ((3) art. 33 33 has been amended by section 4 4 al. I of LAW no. 121 121 of 29 May 2015 , published in MONITORUL OFFICIAL no. 382 382 of 2 June 2015, amending section 14 14 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. + Article 34 (1) The annual financial statements of legal persons of public interest shall be subject to statutory audit, which shall be carried out by statutory auditors, authorized natural or legal persons, under the law. ... -------------- Alin. ((1) of art. 34 34 has been amended by art. II of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 of 22 April 2011, by replacing the phrase "financial auditor" with the phrase "statutory auditor" and the phrase "financial audit" with the phrase "statutory audit". (2) For the purposes of this law, legal persons of public interest shall be understood: companies whose securities are admitted to trading on a regulated market; credit institutions; non-banking financial institutions, defined according to the legal regulations, entered in the General Register; payment institutions and electronic money institutions, defined according to the law, which grant credits related to payment services and whose activity is limited to the provision of payment services, namely electronic money issuance and service provision payment; insurance, reinsurance and reinsurance undertakings; privately managed pension funds, voluntary pension funds and their managers; financial investment services companies, companies investment management, collective investment undertakings, central depositories, clearing houses, central counterparties and market operators/authorizations/approved by the Financial Supervisory Authority; national companies/companies; companies with full or majority state capital; autonomous regions. ... ---------- Alin. ((2) of art. 34 34 has been amended by section 15 15 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. (2 ^ 1) Provisions of para. ((1) shall also apply to subunits without legal personality in Romania, belonging to legal entities based abroad, except for the subunits opened by companies resident in states belonging to the European Economic Area, as well as parent companies that are required to draw up consolidated annual financial statements, according to the applicable accounting regulations. ------------ Alin. (2 ^ 1) of art. 34 34 has been introduced by section 28 28 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (3) The financial statements drawn up by the entities having this obligation under their specific legislation shall be audited. ... (4) They shall also be subject to the statutory audit of the annual financial statements drawn up in order to carry out merger, division or liquidation operations, if those persons have the obligation to audit the annual financial statements. ... ------------ Alin. ((4) of art. 34 34 has been amended by section 27 27 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (5) By order of the Minister of Public Finance may be established other cases in which the annual financial statements are subject to statutory audit *). ... -------------- Alin. ((5) of art. 34 34 has been amended by art. II of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 of 22 April 2011, by replacing the phrase "financial audit" with the phrase "statutory audit". Note ... ---------- * *) See Order 1.286 of October 1, 2012 for the approval of Accounting Regulations in accordance with International Financial Reporting Standards, applicable to companies whose securities are admitted to trading on a regulated market, published in the Official Gazette no. 687 687 of 4 October 2012. ---------- + Article 35 (1) The annual financial statements and, where applicable, the consolidated annual financial statements shall be submitted to the territorial units of the Ministry of Public Finance, in accordance with the legal provisions in force. ... ------------ Alin. ((1) of art. 35 35 has been amended by section 29 29 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (2) The shareholders and employees of a company have the right to inform themselves about the annual financial statements at the registered office of the company or the parent company, without any discrimination. ... (. The annual financial statements shall be kept for 10 years. ... (4) In case of termination of the activity of persons referred to in art. 1, the annual financial statements, as well as the books and other documents referred to in art. 25 surrender to the archives of the state, in accordance with the legal provisions in the matter. ... + Article 36 (1) Persons referred to in art. 1 1 para. ((1)-(3) shall submit a copy of the annual financial statements to the territorial units of the Ministry of Public Finance, as follows: ... a) companies, companies/national companies, autonomous regions, national research and development institutes, subunits without legal personality in Romania belonging to legal entities based abroad, except subunits opened in Romania by companies resident in states belonging to the European Economic Area, within 150 days of the end of the financial year; ... b) the other legal entities, within 120 days from the end of the financial year. ... (2) The legal entities from the establishment have not carried out the activity, as well as the subunits without legal personality in Romania belonging to legal entities based abroad, which since the establishment have not carried out activity, submit a declaration in this regard, within 60 days from the end of the financial year, at the territorial units of the Ministry of Public Finance. ... (3) During the liquidation period, the legal entities in liquidation, according to the law, shall submit, within 90 days from the end of each calendar year, to the territorial units of the Ministry of Public Finance an annual accounting reporting, the the content is established by order of the Minister of Public Finance *). ... Note ... ---------- * *) See: - Order no. 123 123 of 28 January 2016 on the main issues related to the preparation and submission of annual financial statements and annual accounting reports of economic operators to the territorial units of the Ministry of Public Finance, published in the Official Gazette no. 81 81 of 4 February 2016. ---------- (4) The annual financial statements prepared for the merger, division or liquidation of the persons concerned shall be deposited with the territorial units of the Ministry of Public Finance under the conditions laid down by the regulations accounting issued in this regard. ... (5) The Board of Directors, respectively the directorate of the parent company, defined by the applicable accounting regulations, is obliged to submit to the territorial units of the Ministry of Public Finance the consolidated annual financial statements, according to the legal provisions in force, within 15 days of their approval, but not later than 8 months after the end of the financial year of the parent company. ... ---------- Alin. ((5) of art. 36 36 has been amended by section 16 16 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. (6) Public institutions whose leaders have the status of authorising officers, as well as the general directions of the county public finances and the city of Bucharest shall submit a copy of the quarterly and annual financial statements to higher hierarchical institutions at the deadlines provided in par. ((7)-(10). ... (7) Public authorities, ministries and other specialized bodies of central public administration, public institutions fully funded by their own income, whose leaders are the principal authorising officers, and the general directions of the county public finances and the city of Bucharest, for the financial statements centralized on the entire county and Bucharest municipality regarding the execution of the budgets provided for art. 1 1 para. ((2) of Law no. 273/2006 ... on local public finances, with subsequent amendments and completions, shall submit to the Ministry of Public Finance a copy of the quarterly and annual financial statements, according to the norms issued by it, at the following deadlines: a) within 50 days of the end of the financial year; ... b) within 40 days from the end of the reference quarter. ... (8) Public institutions of central subordination whose leaders have the status of secondary authorising officers shall submit to the higher hierarchical institutions a copy of the quarterly and annual financial statements, according to the rules issued by Ministry of Public Finance at the following deadlines: ... a) within 40 days of the end of the financial year; ... b) within 30 days from the end of the reference quarter. ... (9) Public institutions of central subordination whose leaders have the status of tertiary authorising officers shall submit to the higher hierarchical institutions a copy of the quarterly and annual financial statements, according to the rules issued by Ministry of Public Finance at the following deadlines: ... a) within 30 days of the end of the financial year; ... b) within 20 days from the end of the reference quarter. ... (10) The local subordination institutions whose leaders are the principal authorising officers shall submit a copy of the quarterly and annual financial statements to the general directorates of the county public finances and of the municipality Bucharest, according to the norms issued by the Ministry of Public Finance, ... a) within 40 days of the end of the financial year; ... b) within 30 days from the end of the reference quarter. ... ------------ Article 36 has been amended by section 6.6. 30 30 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 36 ^ 1 It is prohibited to submit to the territorial units of the Ministry of Public Finance several sets of annual financial statements for the same financial year. ---------- Art. 36 ^ 1 was introduced by item 17 17 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. + Article 36 ^ 2 The errors found after the submission of the annual financial statements shall be corrected at the date of their finding, according to the accounting regulations issued by the institutions provided 4 4 para. ((1) and (3), as applicable. ---------- Art. 36 ^ 2 was introduced by item 17 17 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. + Article 37 In order to ensure information intended for the institutional system of the state, the Ministry of Public Finance may request the persons 1 1 para. ((1)-(4) to submit, within 150 days from the end of the financial year, respectively of the calendar year, to the territorial units of the Ministry of Public Finance an annual accounting reporting, the content of which is established by order of the Minister of Public Finance *) ------------ Article 37 has been amended by section 6.6. 31 31 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. Note ... ---------- * *) See: - Order no. 864 864 of 29 March 2010 on certain aspects related to the preparation of annual reports and annual financial statements, published in the Official Gazette no. 229 229 of 12 April 2010. - Order no. 123 123 of 28 January 2016 on the main issues related to the preparation and submission of annual financial statements and annual accounting reports of economic operators to the territorial units of the Ministry of Public Finance, published in the Official Gazette no. 81 81 of 4 February 2016. ---------- + Chapter V Accounting of State Treasury and Public Institutions + Article 38 (1) The accounting of the State Treasury shall be organized and operated on the principle of house execution and shall ensure the registration of receipts and payments in revenue and expenditure accounts opened on budgets, authorising officers and subdivisions of the budgetary classification established by the Ministry of Public Finance. ... (2) In the accounts of the State Treasury shall be opened, on account of authorising officers, separate accounts for loans opened and distributed and for expenses incurred from the state budget, state social insurance budget, budget The single national health insurance fund, the unemployment insurance budget, the local budgets, as well as availability accounts from which payments can be made. ... (3) The accounting of the State Treasury shall provide information on the implementation of the budgetary execution under financial balance conditions, approved annually by law for each budget, as well as within the limits of availability in the accounts. ... (4) The organization of the accounting of the operations carried out through the budget of the State Treasury and of the expenses made from the budget of the Ministry of Public Finance-General actions, at the level of the 18. ... ------------ Alin. ((4) of art. 38 38 has been amended by section 32 32 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (5) The accounting of the State Treasury shall be organized within the Ministry of Public Finance and its subordinate units and shall include the operations regarding the execution of the state budget, the state social security budget, the budget Single national health insurance fund, unemployment insurance budget and local budgets, internal and external public debt management, as well as other financial operations carried out on behalf of public administration bodies central and local. ... (6) The organization and management of the accounting of the State Treasury shall be carried out according to the norms issued by the Ministry ... Note ... ---------- * *) See also Order no. 1.917 1.917 of 12 December 2005 for the approval of the Methodological Norms on the organization and management of the accounting of public institutions, the Accounts Plan for public institutions and its instructions for its application, published in the Official Gazette 1.186 1.186 of 29 December 2005. ---------- + Article 39 (1) At the end of the financial year, in the accounting of the State Treasury, the budget execution shall be concluded according to the methodological norms issued by the Ministry of Public Finance, as follows: ... a) the completion of the execution of the state budget shall be carried out by the territorial units of the ... b) the conclusion of the execution of the state social insurance budget shall be carried out by the units of the Ministry of Labour, Family, Social Protection and Elderly; ... c) the conclusion of the execution of local budgets is carried out by the main authorising officers of the local budgets. ... (2) The Ministry of Public Finance shall draw up quarterly and annually the general balance sheet of the State Treasury, in the structure established by it, which is approved under the law. ... + Article 40 (1) The Ministry of Public Finance shall draw up the balance sheet annually. ... (2) The annual review of public institutions, in the structure established by the Ministry of Public Finance, shall be submitted to the Government for adoption with the annual general account of execution of the state budget. ... + Chapter VI Contraventions and offences + Article 41 The following facts are contrary: 1. holding, with any title, elements of the nature of assets and debts, as well as carrying out economic-financial operations, without being registered in accounting; 2. non-compliance with the regulations issued by the Ministry of Public Finance, respectively by the institutions with regulatory powers in the field of accounting provided in 4 4 para. ((3), as regards: a) approval of the accounting policies and procedures provided by the legislation ... b) the use and maintenance of accounting records; ... c) the preparation and use of supporting and accounting documents for all the operations carried out, the recording in their accounting during the period to which they relate, their preservation and archiving, as well as the reconstruction of documents lost, stolen or destroyed; ... d) making inventory; ... e) preparation, signing and filing within the legal term at the territorial units of the Ministry of Public Finance of the annual financial statements and, as the case may be, of the consolidated annual financial statements, as well as the accounting ... f) preparation, signing and submission to the Ministry of Public Finance and its territorial units, as well as to the higher hierarchical public institutions of the quarterly and annual financial statements of public institutions, according to the law; ... g) submission of the declaration showing that the persons referred to in art. 1 1 para. (1)-(3) did not carry out the activity, respectively of the notice provided in art. 27 27 para. ((6) lit. b); ... ---------- Lit. g) 2 2 of art. 41 41 has been amended by section 4.2 18 18 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. 3. presentation of financial statements containing erroneous or uncorrelated data, including on the identification of the reporting person; 4. non-compliance with the provisions regarding the preparation of the declarations 30 30 and 31; 5. non-compliance with the provisions on the obligation of the members of the administrative, management and supervisory bodies to prepare and publish the annual financial statements; 6. non-compliance with the provisions regarding the obligation of the members of the administrative, management and supervisory bodies of the parent company to draw up and publish the consolidated annual financial statements; 7. non-compliance with the obligation to audit, according to the law, the annual financial statements and consolidated annual financial statements; 8. failure to submit, according to the present law, the annual financial statements, the consolidated annual financial statements, as well as the accounting reports; 9. non-compliance with 10 10 and 36 ^ 1. ---------- Item 9 of art. 41 41 has been amended by section 18 18 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. ------------ Article 41 has been amended by section 6.6. 33 33 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. + Article 42 (1) Contraventions provided in art. 41 is sanctioned with a fine, as follows: ... --those referred to in point 1 and 9, with a fine of 1,000 lei to 10,000 lei; --those referred to in point 2 lit. a), b) and c), with a fine of 300 lei to 4,000 lei; --those referred to in point 2 lit. f), with a fine of 1,000 lei to 3,000 lei; --those referred to in point 2 lit. g), with a fine of 100 lei to 200 lei; --that referred to in point 3, with a fine of 200 lei per 1,000 lei; --those referred to in point 2 lit. d), item 4 and 5, with a fine of 400 lei to 5,000 lei; --that referred to in point 6, with a fine of 10,000 lei to 30,000 lei; --that referred to in point 7, with a fine of 30,000 lei to 40,000 lei; --that referred to in point 8, with a fine of 2,000 lei to 5,000 lei; --those referred to in point 2 lit. e), as follows: those regarding the preparation and signing, with a fine of 2,000 lei to 3,000 lei; the one regarding the filing within the legal term, with a fine of 300 lei to 1,000 lei, if the delay period is between 1 and 15 working days, with a fine of 1,000 lei to 3,000 lei, if the delay period is between 16 and 30 working days, and with a fine of 1,500 lei to 4,500 lei, if the delay period exceeds 30 working days. ------------ Alin. ((1) of art. 42 42 has been amended by section 34 34 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. ((2) Abrogat. ... ------------ Alin. ((2) of art. 42 42 has been repealed by section 6.6. 35 35 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (3) The Government, at the proposal of the Ministry of Public Finance, may modify the level of fines provided in (1) according to the rate of inflation. ... (4) The finding of contraventions and the application of fines shall be made by persons with duties of fiscal inspection and financial control, as well as by the staff of other directions within the Ministry of Public Finance, established by order of the Minister public finances. ... ------------ Alin. ((4) of art. 42 42 has been amended by section 34 34 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (5) The finding of contraventions and the application of fines in the case of owners ' associations shall be made by the persons with control powers of the local councils of the municipalities, towns, communes and sectors of Bucharest and other persons empowered by the county councils, respectively by the General Council of Bucharest Municipality. ... (6) The contravention fines provided in par. ((1) and (2) shall be borne by the guilty persons. ... ((7) Contraventions provided for in art. 41 the provisions of Government Ordinance no. 2/2001 on the legal regime of contraventions, approved with amendments and additions by Law no. 180/2002 , with subsequent amendments and completions. ... (8) If within 3 working days from the application of the fine provided by law, the financial statements provided for in art. 36 36 para. (7)-(10), the Ministry of Public Finance will take the following measures: ... a) blocking the openings of budget credits for the main authorising officers of the state budget, the state social insurance budget, the unemployment insurance budget, the budget of the Single National Health Insurance Fund and the local budgets; ... b) blocking of open availability accounts at State Treasury units in the name of public authorities and institutions fully or partially financed by their own income. ... ------------ Alin. ((8) of art. 42 42 has been amended by section 34 34 of art. I of EMERGENCY ORDINANCE no. 37 37 of 13 April 2011 , published in MONITORUL OFFICIAL no. 285 285 of 22 April 2011. (9) It is exempted from the provisions of par. (8) the following operations: ... a) payments from non-reimbursable external funds or financing received from institutions or international organizations for the development of programs and projects, as well as the related co-financing and pre-financing funds; ... b) payment of salary rights and related contributions, as well as of insurance and social assistance rights; ... c) refunds of internal and external credits, commissions and other related costs; ... d) contributions and contributions to international organizations; ... e) payments from the Budget Reserve Fund at the disposal of the Government and from the Intervention Fund at the Government's disposal, according to ... + Article 43 Repealed. ------------- Article 43 was repealed by art. 41, Title II of LAW no. 187 187 of 24 October 2012 , published in MONITORUL OFFICIAL no. 757 757 of 12 November 2012. + Chapter VII Transitional and final provisions + Article 44 Ministry of Public Finance and institutions provided in art. 4 4 para. (3) of this law will develop and permanently update the accounting regulations applicable to the persons referred to in art. 1. + Article 45 The Ministry of Public Finance exercises control over how the provisions of this law apply. + Article 46 This Law shall enter into force on 1 January 1992 *). Note ... ---------- *) See also the dates of entry into force of the amending normative acts. ---------- + Article 47 The provisions of this law also apply to subunits without legal personality, based abroad, belonging to the persons referred to in art. 1, with its domicile in Romania, as well as subunits based in Romania, belonging to legal or physical persons with headquarters or domicile abroad. + Article 48 Repealed. ------------- Article 48 has been repealed by point (a). 19 19 of art. I of EMERGENCY ORDINANCE no. 79 79 of 10 December 2014 , published in MONITORUL OFFICIAL no. 902 902 of 11 December 2014. + Article 49 The date of entry into force of this Law shall be repealed: - Decree no. 375/1956 on the reconstitution of documents, documents and records with lost financial content, stolen or destroyed, published in the Official Bulletin no. 22 22 of 4 August 1956; - Judgment no. 1.885 1.885 of 28 December 1970 on the organization and management of the accounting, duties and responsibilities of the head of the financial-accounting department, published in the Official Bulletin no. 156 156 of 29 December 1970; - Judgment no. 1.533/1973 on special regime forms, published in the Official Bulletin no. 189 189 of 2 December 1973; - Judgment no. 1.116/1975 on improving the analysis on the basis of balance sheet, increasing the operativeness and quality of information on the economic and financial results of the socialist state units, published in the Official Bulletin no. 127 127 of 5 December 1975; - Government Decision no. 252/1996 on the regime of foreign exchange rate differences related to the share capital in estimates and other applicable operations starting with the accounting balance with the filing deadline until April 15, 1996, published in the Official Gazette of Romania, Part I, no. 75 of 11 April 1996, as amended; - Government Decision no. 483/1996 on the provision of services in the field of accounting, verification and certification of the balance sheet Accounting Law no. 82/1991 , published in the Official Gazette of Romania, Part I, no. 137 of 2 July 1996, as amended; - Government Decision no. 22/1998 on certain measures for the reflection in the accounting of economic agents of economic and financial operations, published in the Official Gazette of Romania, Part I, no. 34 34 of 29 January 1998; -any other provisions contrary to the provisions of this law. Note ... ---------- NOTE: We reproduce below the provisions art. II and III of Law no. 259/2007 to amend and supplement Accounting Law no. 82/1991 ,, which are not incorporated into the republished form of Accounting Law no. 82/1991 and which continue to apply as own provisions of the Law no. 259/2007 : "" Art. II. -(1) Application of art. 2 2 para. ((2) lit. d) and ale art. 27 27 para. ((3) of the Accounting Law no. 82/1991 , republished, with the amendments and completions brought by this law, shall be suspended until January 1, 2009. (2) The commercial companies will submit a copy of the financial statements related to the financial years 2007 and 2008 to the territorial units of the Ministry of Economy and Finance, within 150 days from the end of the exercises that financial. The companies that from the establishment have not carried out the activity, as well as those in liquidation, according to the law, will submit a declaration in this regard, within 60 days from the end of the financial year. ... Art. III. -The date of entry into force of this Law shall be repealed: a) para. ((1) of art. 27 27 and Annex no. 3 3 of the Implementing Rules of the Law no. 142/1998 on the granting of meal tickets, approved by Government Decision no. 5/1999 , published in the Official Gazette of Romania, Part I, no. 26 26 of 25 January 1999; ... b) lit. D and E of Annex no. 3 to the Methodological Norms on the registration in accounting of goods that make up the public domain of the state and administrative-territorial units, approved Government Decision no. 1.031/1999 , published in the Official Gazette of Romania, Part I, no. 620 620 of 17 December 1999. ' ... ---------- -----
