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Wednesday, January 12, 2005

Banks and public institutions to account only in RON

Banks and public institutions will release their financial situations after July 1 only in the new national currency, RON, according to a draft law that was discussed yesterday by the Commission for Social Dialogue of Public Finances Ministry.

The draft law modifies legislation dealing with the denomination of the national currency. The current law stipulates that institutions should release their financial situations for the period July 1 to December 31 in both the new and old currencies.

The modification was proposed in order to simplify book-keeping for the types of institutions that release annual and quarterly financial situations.

Posted by Iulia Rasoiu : 1/12/2005 09:32:00 am