The procedure establishes the steps and conditions under which the Authority for the Oversight of Statutory Audit Activity (ASPAAS), as the competent authority, withdraws the authorization of financial auditors authorized and registered in the Electronic Public Register of financial auditors and audit firms in accordance with the provisions of Law no. 162/2017 on statutory audit of annual financial statements and consolidated annual financial statements and for amending certain normative acts and the Order of the ASPAAS president no. 87/2018 for the approval of the Rules regarding the authorization of financial auditors and audit firms in Romania, the recognition of audit firms from other member states, the withdrawal and reinstatement of authorization.

ASPAAS withdraws the authorization of a financial auditor by order of the ASPAAS president:

I. In case the good reputation of the financial auditor has been seriously compromised, as follows:

a) the financial auditor is convicted by a final decision for criminal acts related to the performance of financial audit activity or is given the complementary penalty of prohibiting the right to carry out such activity or a safety measure is taken regarding the exercise of this activity;

b) has committed administrative violations and has been subjected to the administrative sanction provided for in art. 40 par. (4) letter e) of Law no. 162/2017;

c) in the event that one of the criteria regarding good reputation is no longer met and, thus, the good reputation is seriously compromised, in accordance with the provisions of art. 6 par. (3) of Law no. 162/2017 and ASPAAS regulations on good reputation.

The obligations of the financial auditor in one of the situations presented above can be analyzed by accessing the links:

https://www.aspaas.gov.ro/wp-content/uploads/2018/08/Ordin-nr.87-din-10.08.2018.pdf

https://www.aspaas.gov.ro/wp-content/uploads/2018/03/LEGE-Nr-162-din-2017-2.pdf

II. At the written request of the financial auditor, addressed to ASPAAS, signed, dated, accompanied by the order issued by the ASPAAS president of authorization, in original, which will be added to the authorization file existing at the ASPAAS level, together with the supporting documents.

The request for withdrawal of authorization is accompanied by a self-declaration of the financial auditor from which it is clear that they are not in any of the following situations:

a) the financial auditor is subject to a disciplinary/administrative procedure, according to the law, which is still being resolved;

b) the existence of a situation concerning the serious compromise of good reputation, according to ASPAAS regulations regarding good reputation;

c) the existence of one of the situations provided in art. 11 par. (2) letter a).

The resolution of the request for withdrawal of authorization is postponed until the final resolution of the disciplinary/administrative situations/causes.

If the solution is the withdrawal of authorization, this takes precedence in case of concurrence with the situation of withdrawal of authorization, at the request of the financial auditor.

During the procedure it may be necessary to notify the petitioner regarding the communication of valid documents or conditions whose compliance/fulfillment is not confirmed by the submitted documents.

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