LawThe Council for the Public Oversight of the Accountancy Profession (CSIPPC) represents the main operational structure within the national public oversight system of statutory audit activity with the role of ensuring the improvement of the audit activity and, therefore, contribute significantly to increasing the credibility of the audited financial statements.

CSIPPC was set up in 2008 by transposing Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts (May 17th, 2006) into the national legislation through Government Emergency Ordinance no. 90 on statutory audits of annual financial statements and consolidated annual financial statements (June 24th, 2008) – published in the Official Gazette no. 481 (June 30th, 2008).