Regulated entities are required to file their financial statements with the appropriate regulator. Banks are required to: (i) file their full financial statements with the NBM by April 30 following each year-end; (ii) make available copies of their annual report to the public free of charge and (iii) publish their balance sheet and audit opinion in both national newspapers as well as in local newspapers wherever the bank has a branch also by April 30 following each year-end. It is worth noting that such partial publication is inadequate in scope as it may be misleading for users in that an audit report should be read as a whole. The following table summarizes the corporate reporting requirements in Moldova: Table 4. Corporate Financial Reporting Requirements in Moldova Public Entities Accounting Standards Audit Requirement Disclosure PIEs IFRS Required. Required. Limited NAS or IFRS on voluntary Not required. Required. liability basis companies Joint stock NAS or IFRS on voluntary Required for JSC meeting Required.33 companies basis the criteria set in Article 2 34 (excluding of the Law on JSCs. PIEs) State Owned NAS or IFRS Not required for state Required. 33 Enterprises enterprises; for JSCs, the 34 same rule as above. Savings and NAS 63 Presentation of Required for SCAs with Required. 33 Credit financial statements by the license C and SCAs with 34 Associations SCA and by other similar license B exceeding a (SCAs) entities certain asset value. NAS and Norms approved Not required. Required.34 by the Ministry of Finance entities Micro entities NAS 62 Accounting based Not applicable. Not on simply accounting applicable. system. No requirements to prepare financial statements.
Regulated entities are required to file their financial statements with the appropriate regulator. Banks are required to: (i) file their full financial statements with the NBM by April 30 following each year-end; (ii) make available copies of their annual report to the public free of charge and (iii) publish their balance sheet and audit opinion in both national newspapers as well as in local newspapers wherever the bank has a branch also by April 30 following each year-end. It is worth noting that such partial publication is inadequate in scope as it may be misleading for users in that an audit report should be read as a whole. The following table summarizes the corporate reporting requirements in Moldova: Table 4. Corporate Financial Reporting Requirements in Moldova Entities Accounting Standards Audit Requirement Public Disclosure PIEs IFRS Required. Required. Limited liability companies NAS or IFRS on voluntary basis Not required. Required. Joint stock companies (excluding PIEs) NAS or IFRS on voluntary basis Required for JSC meeting the criteria set in Article 2 of the Law on JSCs. Required.33 34 State Owned Enterprises NAS or IFRS Not required for state enterprises; for JSCs, the same rule as above. Required. 33 34 Savings and Credit Associations (SCAs) NAS 63 Presentation of financial statements by the SCA and by other similar entities Required for SCAs with license C and SCAs with license B exceeding a certain asset value. Required. 33 34 entities NAS and Norms approved by the Ministry of Finance Not required. Required.34 Micro entities NAS 62 Accounting based on simply accounting system. No requirements to prepare financial statements. Not applicable. Not applicable.
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