EIRP Proceedings, Vol 4 (2009)

Abstract

One of the components of prudence measures adopted by the competent authorities with the regulation and supervision of financial markets at national and European level is mandatory consolidation of accounts. Romania as member of the European Union it harmonized national regulations with the European consolidation of accounts of companies. For the banks have been issued by the appropriate rules by the regulators authority, concerned by National Bank of Romania. In accordance with national regulations, companies are required to prepare annual consolidated financial statements may make such situations according to the regulations or accounting in accordance with Directive VII of the European Economic Community, under
International Financial Reporting Standards.