CORRELATIONS BETWEEN FINANCIAL AUDIT AND ROMANIAN TAXATION
CORRELATIONS BETWEEN FINANCIAL AUDIT AND ROMANIAN TAXATION
Ioan Dan MORAR, Ioan Călin MORAR
¹ Department of Finance and Accounting, Faculty of Economic Sciences, University of Oradea, Oradea, Romania
² Master’s degree in Organizational Sciences, Finance – Audit and Financial Advisory, Université Paris Dauphine-PSL, Paris, France
morar_id@yahoo.com;
cimorar21@gmail.com
Abstract: This paper examines the correlations between financial audit and the Romanian tax system, from both an institutional and an applied perspective. The financial auditor does not replace the tax inspector; the auditor certifies the accuracy of financial reporting and, implicitly, the correctness of the computation and recognition of tax liabilities in the financial statements. Starting from the national regulatory framework – the Fiscal Code, the Fiscal Procedure Code, the Accounting Law and the legislation on statutory audit – the paper analyses the complementary roles of ANAF and ASPAAS and identifies the tax indicators with the highest relevance in planning and performing the statutory audit: the degree of timely settlement of tax liabilities, outstanding tax obligations, the ratio between corporate income tax and accounting profit, the share of value added tax in turnover, adjustments resulting from tax inspections and the frequency of changes in the tax policies applied. The analysis is placed in the context of Romania’s fiscal position in 2025-2026: the highest budget deficit in the European Union, rising public debt and one of the lowest tax-to-GDP ratios among Member States. The results support the conclusion that the systematic monitoring of tax indicators strengthens audit risk assessment and increases the credibility of financial statements.
Keywords: financial audit; taxation; tax compliance; fiscal risk; budget deficit; Romania.
JEL Classification: H20; H62; H83; M42.
