CONVERGENCE AND DIVERGENCE BETWEEN THE EUROPEAN
   DIRECTIVES AND EUROPEAN COUNTRIES` FINANCIAL AUDIT
   LEGISLATION: EVIDENCE FROM ROMANIA AND REPUBLIC OF
                        MOLDOVA


                                        Tatiana Dănescu
                                      Maria-Alexandra Popa
                                        Mariana Vasileva



        ABSTRACT: Financial audit, by its object, is a mean of helping to stabilize the economy
at national and international level, and a special concern is given to professional bodies,
national and European authorities in developing regulations to improve, facilitate and, in at the
same time, to standardize financial audit procedures. Each European country adopts laws,
codes, ordinances, and practices that aim to comply with European standards. Drawing from
this consideration, we conducted research on the basis of analyzing and comparing the financial
audit legislation of two countries in the European geographical area, one member of the
European Union (Romania) and one outside the EU area (Republic of Moldova), but with
aspirations for integration in the European Union. The objective of this research is to identify
and to analyze the convergences and divergences between the norms found in the two states in
accordance with European directives.

        Keywords: External Audit, Regulation, European Directives, International Standards Of Audit,
Auditing, Government Policy and Regulation

       JEL Classification: K220, M420, M480