ASPAAS has started sending official notifications.

ASPAAS has started sending official notifications

Starting from July 2025, ASPAAS requires companies that fall under the scope of OMFP 1802/2014 to provide proof of the implementation of the internal audit function within 10 calendar days.

The obligation to audit annual financial statements and to implement the internal audit function applies to companies that meet at least 2 of the following size criteria:

·        32,000,000 lei turnover

·        16,000,000 lei total assets

·        50 employees

Non-compliance with this obligation may result in fines between 50,000 and 100,000 lei (Law 162/2017, art. 44).

Internal audit is an essential component of corporate governance and adds value by assessing processes, managing risks, and improving operational efficiency.

To avoid the risk of penalties and to comply with current legislation, the Geseidl team is at your disposal for the implementation of the internal audit function.