​EVERGENT Investments SA, as a company registered on the stock exchange, is a subject of public interest, defined as such in accordance with the provisions of Art. 2 p. 12 of Law No. 162/2017 on mandatory audit, sends thanks and appreciation to the Financial Supervision Authority, the State Supervision Authority for Statutory Audit Activities, the Ministry of Finance, the Bucharest Stock Exchange, the members of the Association of Fund Administrators and the Romanian Association of Banks , key institutions and associations for the financial market of Romania, which participated in the amendment of ASPAAS order no. 123/2022.

EVERGENT InvestmentsPhoto: EVERGENT Investments

Thus, Order No. 123/2022 set an inappropriate deadline (December 31, 2022) for fulfilling the obligation to introduce a certified financial auditor to the Audit Committee, a committee consisting of members of the Board of Directors. This obligation could disrupt the proper functioning and corporate governance of our company and other financial and banking institutions registered on the stock exchange.

By publication in the Official Monitor of Romania, part I, no. 898 dated 13.09.2022 Order of the State Administrative Service of Ukraine No. 392/2022 entered into force changes to the above-mentioned order in the part that:

  • the range of professional skills in the field of accounting and auditing, necessary for persons who are part of the Audit Commission, has been expanded by including at least 3 years of experience in the field of mandatory audit, acquired during participation in mandatory audit missions or as part of an audit Committees formed at the level of the Board of Directors;
  • the new deadline for entities that currently do not meet the requirements of the law is no later than December 31, 2023 or, depending on the circumstances, on the date of appointment of new members of the Board of Directors.

We would like to inform investors that we will continue to participate in the legislative process of transposing any EU Directives and Regulations or changes to national legislation that are likely to permanently improve the best standards of corporate governance and the framework in which it operates as an authorized issuer and controlled by ASF exclusively for the interests of shareholders.

Claudio Doros, President, CEO