Financial Audit – A Factor Stimulating Business Environment

In Romania there are several tens of billions lei in tangible assets in various stages of implementation and that are more or less subject to funding according to random criteria usually strictly related to political and electoral reasons. The big number of financial fixed assets generates considerable damage to the business environment which in such a critical period of the economic crisis has been its own cause – lack of cash. Certainly, the process may be difficult and in needs of professional solutions with regard to the complex and precise identification, the present value of these assets, the analysis of the opportunity to maintain or propose valuation, the resources that could be made circulate in the economic environment. Business can be stimulated by supporting robust investments and can be challenged by sale, lease or rental of in progress tangible assets that if completed, they would produce added value and would lead to a real value of public patrimony.

Domestic and international economic conditions are conducive to such an approach while the Government and local authorities are required to carry out, in a concerted effort, a financial audit of all the intangible fixed assets and, on the basis of its findings, to adopt the most appropriate measures. Public investment resources within the existing budgetary constraints will hardly be available, but the return to the potential internal resources, available even in the State or local authority patrimony, could generate the necessary additional resources. The audit could support the use of these resources obtained once in investment areas of paramount importance for Romania and would supplement the existing resources. Moreover, it would successfully abridge the periods of execution and implicitly, the budget would benefit from multiplied investments.