IDEAS home Printed from https://ideas.repec.org/a/sja/journl/v1y2012i1p280-289.html
   My bibliography  Save this article

Considerations On The Romanian Regulations Of „Censors”, An Institution Between Tradition And Actuality

Author

Listed:
  • Mirela Georgiana Sabau

    (Faculty of Law, Spiru Haret Bucharest University, Romania)

Abstract

This essay analyzes the institution of "censors", as company body of internal control, aiming to determine whether this institution corresponds or not to a real need of some companies or it is just maintained in the virtue of the tradition of Romanian law system regulations regarding the internal control. Analyzing the evolution of company control and the institution of censors and especially the large attributions, rights and obligations the censors have, that are more extended than those of the auditors I came to the conclusion that the censors by their permanent and general activity corresponds to real needs of some companies. Therefore I consider that there are real grounds for which the institution of censors, part of the traditional system of internal control provided in the course of time by the Romanian law system, continues to exist. In the final part after analyzing the existing legal provision I suggested some amendments of the law such as : to request expertise of the persons nominated as censors in order to avoid a formal and inefficient control, to extend the secret vote for censors election as provided for companies by shares to all companies, to eliminate the obligation of the limited company by shares having more than 15 shareholders to nominate censors if such company enter into contract with auditors, as well as some suggestions regarding the correlation of the terminology.

Suggested Citation

  • Mirela Georgiana Sabau, 2012. "Considerations On The Romanian Regulations Of „Censors”, An Institution Between Tradition And Actuality," Perspectives of Law and Public Administration, Societatea de Stiinte Juridice si Administrative (Society of Juridical and Administrative Sciences), vol. 1(1), pages 280-289, December.
    • Handle: RePEc:sja:journl:v:1:y:2012:i:1:p:280-289
    as

    Download full text from publisher

    File URL: http://www.businesslawconference.ro/revista/articole/an1nr1/31%20Sabau%20Mirela%20Eng.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    company law; control of company management; censors; auditors; internal control of companies;
    All these keywords.

    JEL classification:

    • K20 - Law and Economics - - Regulation and Business Law - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sja:journl:v:1:y:2012:i:1:p:280-289. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catalin-Silviu Sararu (email available below). General contact details of provider: https://edirc.repec.org/data/ssjarea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.