LAW OF THE REPUBLIC OF MOLDOVA

of March 16, 2018 No. 39

About modification and amendments in the Law on the state and municipal companies No. 246/2017

The Parliament adopts this organic law.

Art. I. - In the Law on the state and municipal companies No. 246/2017 (Official monitor of the Republic of Moldova, 2017, Art. No. 441-450, 750), to make the following changes and additions:

1. In part (1) Article 11 of the word of "average, large subjects and subjects of public interest" shall be replaced with words "average subjects, large subjects or subjects of public interest".

2. In Article 19:

part (to add 1) with the text: ", and part provisions (1) Article 11 in the part belonging to the categories of the subjects which are subject to statutory audit of financial situations which become effective along with enforcement of the Law on financial accounting and the financial reporting No. 287/2017.";

add Article with part (1-1) following contents:

"(1-1) Before enforcement of provisions of part (1) Article 11:

a) financial statements for 2017 are subject to statutory audit in case of the state companies which during the prior two consecutive accounting periods exceed limits of two of the following criteria:

- the authorized capital - 500000 lei;

- comprehensive income - 10000000 lei;

- the average number of workers in the accounting period - 100;

b) financial statements for 2018 are subject to statutory audit in case of the state/municipal companies which for December 31, 2017 exceed limits of two of the following criteria:

- in total assets - 63600000 lei;

- sales returns - 127200000 lei;

- the average number of workers for the accounting period - 50.".

Art. II. - To the government and bodies of local public authority to take necessary measures for ensuring implementation by the state and municipal companies of statutory audit of financial statements according to this law.

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