Law related to the audit restrictions applied to joint-stock companies approved

  • 01.04.2022

On Friday, April 1, the law was approved regarding the initiative of a group of members of the Parliament, led by Mr. Dumitru Alaiba, related to the audit restrictions applied to joint-stock companies, following the notification of AmCham Moldova and ACAP RM addressed to Parliament regarding the applied restrictions to the audit services contracted by joint-stock companies.

The law militates for the exclusion of additional restrictions from those provided by Law 271/2017, the existence of which directly affects the activity of auditors, but also of joint-stock companies that benefit from these services because the auditor is prohibited from providing audit services that, typically, they are allowed to be provided by the auditor by Law no. 271/2017, International Code of Ethics for Professional Accountants, issued by IESBA, but also by regional and international practice, in this case, the EU Directives to which national audit legislation was harmonized.

The Position Paper can be accessed here
The text of the Initiative can be accessed here

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