We would like to remind you of the legal obligation to perform the inventory of the patrimony on 31.12.2018*.
The inventory of the items such as assets, liabilities and equity is the totality of the transactions though which is found the existence of all said items, on a quantitative-value or value only level, as the case may be, on the date when it is performed, in order to compare it with the records in the accounting.
The main purpose of the inventory is to establish the real situation of all the items such as assets, liabilities and equity of each entity, as well as of the goods and valuables held under any title, belonging to other legal or natural entities, in order to prepare the annual financial statements that must provide a true and fair view of the financial position and of the performance of the entity for said financial year.
This obligation is stipulated in Accounting Law no. 82/1991, as republished, with the subsequent amendments and completions, in art. 8 and is applicable to trading companies, national companies/corporations, autonomous companies, public institutions, joint ventures and other legal entities with and without a property purpose, as well as to the natural entities carrying out revenue-producing activities.
The liability for the proper organisation of the inventory works lies with the director, the authorising officer or with another person who is in charge for the management of the entity. The failure to comply with the regulations regarding the inventory is an offence and shall be sanctioned by a fine between RON 400 to RON 5,000.
FiNEXPERT can assist with the inventory using the customer’s own employees, in accordance with its own inventory procedure, by providing assurance that all stages are completed and all documents related to the inventory process are drawn up in accordance with the Rules on organising and taking an inventory of the items such as assets, liabilities and equity, approved by Order no. 2861/2009.
Also, our team participates in the inventory committee based on a service agreement as a legal entity with proper training.
*If the financial year is the same as the calendar year. If the financial year is different from the calendar year, the inventory shall be made on the date of closure of the financial year.
The inventory of the items such as assets, liabilities and equity is the totality of the transactions though which is found the existence of all said items, on a quantitative-value or value only level, as the case may be, on the date when it is performed, in order to compare it with the records in the accounting.
The main purpose of the inventory is to establish the real situation of all the items such as assets, liabilities and equity of each entity, as well as of the goods and valuables held under any title, belonging to other legal or natural entities, in order to prepare the annual financial statements that must provide a true and fair view of the financial position and of the performance of the entity for said financial year.
This obligation is stipulated in Accounting Law no. 82/1991, as republished, with the subsequent amendments and completions, in art. 8 and is applicable to trading companies, national companies/corporations, autonomous companies, public institutions, joint ventures and other legal entities with and without a property purpose, as well as to the natural entities carrying out revenue-producing activities.
The liability for the proper organisation of the inventory works lies with the director, the authorising officer or with another person who is in charge for the management of the entity. The failure to comply with the regulations regarding the inventory is an offence and shall be sanctioned by a fine between RON 400 to RON 5,000.
FiNEXPERT can assist with the inventory using the customer’s own employees, in accordance with its own inventory procedure, by providing assurance that all stages are completed and all documents related to the inventory process are drawn up in accordance with the Rules on organising and taking an inventory of the items such as assets, liabilities and equity, approved by Order no. 2861/2009.
Also, our team participates in the inventory committee based on a service agreement as a legal entity with proper training.
*If the financial year is the same as the calendar year. If the financial year is different from the calendar year, the inventory shall be made on the date of closure of the financial year.
Any presented information is general and is not meant to address the specific conditions of a particular individual or legal person. Although we try to provide accurate and up-to-date information, there is no warranty that such information is accurate at the time of its receipt or that it continues to be accurate. No action should be taken based on this information without relevant professional assistance following a careful examination of the circumstances that are typical of a particular state of affairs.
