Internal audit mandatory for the entities subject to statutory audit

Law 162/2017 regarding the statutory audit of the annual standalone and consolidated financial statements and amending some normative acts provides that “the entities whose annual financial statements are subject, according to the law” to the statutory audit (respectively the public interest entities defined according to pct. 12, art. 2 from Law 162/2017 and the entities that meet the size criteria for audit) are obliged to organize and to ensure the exercise of the internal audit activity”.