The inspections will also verify whether the income and expenses budgets, and investment and procurement programs are in accordance with the law.
The inspectors will check whether the companies’ economic and financial targets, as set in the budget, are met, and whether the company has paid its obligations to the general consolidated budget. The companies will have to provide substantive evidence of the proper use of financing from the consolidated budget, as well as demonstrate they are prepared to repay loans, interest, commissions and other costs, in the case of beneficiaries of loans guaranteed by the state.
The Finance Ministry’s economic-financial inspection system will improve the companies’ performance and increase discipline in budgetary and financial matters, and in the use of European funds, says the decision’s explanatory note.
Economic-financial inspections are carried out according to yearly, quarterly and monthly schedules, and usually come before fiscal inspections, says the draft. The inspection department’s yearly schedule is correlated with the yearly schedule of the Romanian Court of Accounts, and then approved by the Finance Ministry.
The companies that will be subject to these inspections will be chosen according to a number of criteria, such as regional/ local importance, economic-financial situation (losses, arrears, debts) or incentives (subsidies/ transfers, foreign/ domestic loans guaranteed by the state).
A company may request a single postponement of an economic-financial inspection, on solid grounds.