Audit & Assurance
Our audit does not look for problems — it delivers certainty. We validate information, identify real risks, and support informed decisions.
Exactly where it matters.
Audit and related services
We provide reliable and independent audit services designed to enhance transparency, ensure compliance, and strengthen stakeholder confidence. Our audits are conducted in accordance with the related applicable standards and are tailored to deliver clear insights, risk awareness, and added value for your organization.
Benefits of a reliable and independent audit
- Enhances credibility and stakeholder trust
- Ensures compliance with laws and accounting standards
- Improves accuracy and reliability of financial information
- Identifies risks and strengthens internal controls
- Supports informed business and strategic decisions
Key points to remember
Medium and large entities, as well as public interest entities, prepare annual financial statements that are subject to statutory audit.
Entities that, at the balance sheet date, exceed the limits of at least two of the following three criteria are also subject to audit:
a) total assets: RON 16,000,000;
b) net turnover: RON 32,000,000;
c) average number of employees during the financial year: 50.
The audit obligation for these entities applies when they exceed the respective limits in two consecutive financial years. At the same time, the respective entities are exempted from the obligation to audit the annual financial statements if the limits of two of the three criteria mentioned are not exceeded in two consecutive financial years. Entities whose annual financial statements are subject to statutory audit by law are required to organize and ensure the exercise of internal audit activity, according to art. 65 of Law no. 162/2017, as amended and supplemented. Failure to comply with these provisions is sanctioned with an administrative penalty ranging between 50,000 lei and 100,000 lei.
The Nowium team can support you with the following services:
External audit services
- Audit of standalone or consolidated financial statements prepared under local GAAP or IFRS
- Review of standalone or consolidated financial statements prepared under local GAAP or IFRS
- Agreed-upon procedures
Internal audit services
- Full internal audit outsourcing services
- Specific internal audit assignments
Other services:
- Technical assistance in the preparation of financial statements
Why Nowium team?
We provide independent audit, assurance, and related professional services designed to enhance transparency, reliability, and confidence in financial and operational reporting. Our work is performed in accordance with applicable professional standards and regulatory requirements, with a strong focus on quality, integrity, and technical excellence.
Through a risk-based and tailored approach, we support organizations of various sizes and industries in meeting their statutory obligations, strengthening internal controls, and improving financial reporting processes.
Should you need more information or details regarding how we can support you, please reach out to any of our team members.