The Association of Professional Accountants and Auditors of Moldova requested postponing the implementation of the National Accounting Standards, which are to come into force on January 1, 2014, by a year. Experts say the standards proposed by Ministry of Finance were not well thought out. In the difficult economic situation faced by Moldova, these standards will complicate the situation even more.

Contacted by IPN, Tatiana Grinic, a member of the Association’s Board of Directors, said a number of requests to delay the implementation were made, but the officials in charge of the Ministry of Finance didn’t respond to them.

Tatiana Grinic underlined that the implementation of the National Accounting Standards will lead to the worsening of the financial situation of companies. They will be obliged to invest large sums of money in purchasing new accounting programs. In the process of implementing the standards, all the bookkeeping accounts will be changed and this will make the accounts’ work more difficult. “We are in favor of reformation in the accounting sector, but the reform should be a good one,” she stated.

Cristina Nicolau, senior specialist of the Ministry of Finance’s Communication with the Mass Media Service, said that a number of working groups formulated the National Accounting Standards. They included members of the Association of Professional Accountants and Auditors. All the auditors were informed about the implementation of new standards and their content. The Ministry will provide support to all the entities that will encounter difficulties in bookkeeping and financial reporting when switching over to the new standards.