ORDER OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF MOLDOVA

of June 5, 2007 No. 60

About approval and enforcement of the Provision on audit practice

In pursuance of Article 7 (5) the Law of the Republic of Moldova "About auditor activities" I ORDER to N729-XIII of February 15, 1996:

1. Approve the Provision on Audit Practice (PAP) 1013 "Electronic trading - action on financial records audit".

2. The Section "Provisions on audit practice of HCA 120 "Conceptual bases of national audit standards" to add PPAP 1013 "Electronic trading - action on financial records audit".

3. Enact in the territory of the Republic of Moldova the Provision on Audit Practice (PAP) 1013 "Electronic trading - action on financial records audit" for financial records audit, covering the periods since January 1, 2008.

Provision on audit practice 1013

"Electronic trading - action on financial records audit"

Introduction

1. This provision on audit practice is developed on the basis of World situation on audit practice 1013 "Electronic trading - action on financial records audit" (  IAPS 1013 |Electronic commerce -       effect on the audit of financial statements"), 2002 accepted by the International federation of accountants (IFAC) in edition.

Purpose

2. The purpose of this provision consists in submission of recommendations to auditors when carrying out financial records audit in case business entities participate in business activity which is performed by means of computer public network, such as the Internet (electronic trading (1)). Managements of this provision are especially relevant for application of HCA 300 "Planning", HCA 310 "Knowledge of business" and HCA 330 "The audit procedures relating to estimative risks".

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