2025 Statutory Audit — Preparation, Deadlines, and Requirements for 2026

Who needs a statutory audit in 2026?

Statutory audit of annual financial statements is mandatory for entities exceeding two of three criteria: net turnover over 36 million lei, total assets over 18 million lei, or over 50 employees. Thresholds were updated through OMFP 85/2025.

Additionally, auditing is mandatory for public interest entities, BVB-listed companies, financial institutions, insurance companies, and pension funds, regardless of size.

Audit calendar for fiscal year 2025

1. January-February 2026 — Engagement planning and risk assessment
2. March 2026 — Main substantive procedures and testing
3. April 2026 — Audit completion, subsequent events review
4. May 2026 — Auditor's report issuance (before AGM and financial statement filing)

Documents required for audit

For smooth audit execution, prepare in advance:

• Analytical trial balance as of December 31, 2025
• Draft financial statements
• Accounting registers: journal, inventory, general ledger
• Asset inventory file
• Significant contracts and addenda
• AGM minutes and shareholder/partner decisions
• ANAF correspondence (tax assessment decisions, audit reports)
• Bank, customer, and supplier balance confirmations

New audit standards for 2026

International Standards on Auditing (ISA) applied in Romania have undergone significant revisions:

• ISA 315 (Revised 2019) — New risk assessment requirements, including IT risk
• ISA 220 (Revised) — Strengthened audit partner responsibilities
• ISA 600 (Revised) — Group audits, including use of component auditors
• ESG reporting — Auditor must verify non-financial reporting consistency with financial statements

How a quality audit helps your business

Beyond legal obligation, statutory audit provides concrete benefits: early identification of financial risks, validation of internal control procedures, increased credibility with business partners and financial institutions, and optimization of accounting processes.

Need financial audit services? The Geseidl Consulting Group team, CECCAR Prahova leader for 18 consecutive years, is ready to help. Discover our services or contact us for a free consultation.