ROMANIAN ACCOUNTING AND AUDIT REFORM IN THE WAY OF ACCESSION INTO THE EUROPEAN UNION

Abstract: The aim of the research is to establish the specific phases of the Romanian accounting and auditing regulations harmonization with aquis communautaire with them inherent problems. The first section sets out some of the main steps of global convergence activities and related research as well as the recent regulatory developments following the convergence attempts to the global set of financial accounting standards. A separate section is dedicated to a brief history of accounting and the current accounting system in Romania. In this section we emphasize variations from and similarities with the IFRS/IAS. The paper concludes with a discussion of the effects of convergence on the financial reporting and accounting systems in Romanian and the expectations of the users of financial information. The research was carried out on the basis of the available sources (more of them are electronic sources, via internet) and research methods like historical analyses, comparisons. We conduct also an empirical research based on questionnaires and interviews with chefs of accounting departments from companies with different size and type of business, publicly traded. A very important role in writing the papers played our experience in IAS implementing procedures, based on our experience like practitioners. Key words: implementing IAS/IFRS, national standards, Romanian experience