The methodological indications concerning the implementation by audit companies and individual auditors of the measures to prevent and combat money laundering and terrorism financing will be adjusted to those of the law that was adopted last yearend, IPN reports, with reference to the amendments and supplements proposed by the Ministry of Finance to the Order made on August 10, 2009.

The proposed amendments and supplements contain provisions stipulating that the executive body of the audit company or of the individual entrepreneurial auditor should nominate persons responsible for the implementation of the law on the prevention and combating of money laundering and terrorism financing of December 22, 2017.

The audit entities will keep records of the measures taken to identify the effective beneficiaries in the case of each audited client so as to present these to the Service for the Prevention and Combating of Money Laundering or the Council for the Surveillance of Audit Activity on request.

The law obliges the reporting entries to notify the Service for the Prevention and Combating of Money Laundering of all the transactions to the value of over 300,000 lei, if these are performed by one or several operations related between them and when there is a suspicion of money laundering or terrorism financing.

Among the reporting entities are the financial institutions, currency exchange facilities outside banks, register and investment societies, organizers of gambling games, real estate agents, audit entities and other entities and private individuals.