Until now, in Romania, there has been no legal structure to carry out audits on the way funds received as sponsorship are spent by beneficiaries in compliance with Law no. 32/1994 on sponsorship. Under a recent Government Ordinance, the Ministry of Public Finance has been made the auditing body by means of its economic and financial inspectorate.
Government Ordinance no. 18/2018 on the regulation of certain measures in the field of economic and financial inspection carried out by the Ministry of Public Finance and on the amendment of certain legislation, has been published in the Official Journal of Romania (no. 755 of 31 August 2018).
The new regulations clarify the way audits may be carried out on the use of money and material assets received by NGOs, associations and foundations through sponsorship. These audits have been assigned to Ministry of Public Finance and ANAF inspectors.
The Ordinance amends Law no. 32/1994 on sponsorship, Government Ordinance no. 26/2000 on associations and foundations as well as Law no. 227/2015 on the Fiscal Code.