Finance News by Forvis Mazars November 2025

Sun | 30.11.2025

Accounting/audit/tax

Forvis Mazars CEE insurance 2025 outlook

Forvis Mazars, in collaboration with EMIS, unveils its CEE Strategic resilience in insurance: outlook 2025, revealing that the region’s insurers have expanded non-life premiums from €18 billion in 2018 to €28.5 billion in 2024, a 58% surge that outpaces many mature Western markets.

Romania stands out as one of the region’s most dynamic yet structurally evolving insurance markets. Despite elevated claims evolution - net claims grew by 43.7% year-on-year - Romania significantly strengthened its underwriting discipline. The market combined ratio improved to 0.95, down from 1.02 in 2021, driven by operational restructuring and increased efficiency.

“Romanian insurers are entering a phase where regulatory change is no longer just about meeting deadlines - it is shaping business models. The combined pressures of DORA, Solvency II revisions and the first CSRD reporting cycle are accelerating investment in data, controls and operational resilience. Insurers that treat this as a strategic transformation rather than a compliance exercise will be the ones securing long-term competitive advantage.”, highlights Răzvan Butucaru, Partner, Financial Services & Advisory Leader, Forvis Mazars in Romania.

With 70% of business-critical data in payroll, Forvis Mazars’ study shows Europe’s leaders turning compliance and accuracy into growth levers

Forvis Mazars has released its latest study, Compliance, accuracy and visibility: the 3 non-negotiables in modern European payroll, offering an unprecedented look into the transformation of payroll across Europe.

Based on the views of more than 1,000 payroll, HR and finance leaders from 13 markets, the report reveals how payroll has evolved from a transactional necessity into a strategic pillar of organisational trust, data governance and people experience.

According to the report, 45% of HR leaders cite compensation as a major challenge, and 51% of organisations would switch providers for stronger compliance support. Payroll departments now play a critical role in ensuring accuracy, transparency and fairness.

“While compensation and compliance dominate HR agendas across the CEE region, Romanian leaders go beyond these priorities - with over half citing talent attraction and retention as their most pressing challenge”, mentions Cătălina Călinescu, Partner, HR & Payroll, Forvis Mazars in Romania. “Pay transparency plays a critical role in this context. When employees understand how pay decisions are made and see fairness embedded in the process, it strengthens trust, engagement and long-term retention. The new EU directive gives organisations the opportunity to move beyond compliance and use transparency as a lever for culture and competitiveness”.

Romania prepares to transpose the EU Pay Transparency Directive: lessons from Europe, by Forvis Mazars

The EU Pay Transparency Directive is set to reshape how organisations across Europe approach equal pay - and Romania is next in line to act.

With the transposition deadline approaching in June 2026, the Romanian government is expected to publish its draft law soon. This will mark a turning point for employers - bringing new reporting, disclosure, and compliance requirements that will redefine pay practices across industries.

“Romania now has the opportunity to demonstrate that pay equality is a core principle of remuneration systems, and that pay transparency is a natural pillar reflecting the country’s economic and social realities - thereby setting a powerful example in the region”, said Florina Andra Ilie, Senior Manager, HR & ESG Advisory, Forvis Mazars in Romania. “By learning from how other Member States have transposed the Directive, Romania can avoid common pitfalls, ensure genuine transparency at all levels, and create lasting value for both employees and employers”.

Forvis Mazars Learning Lab: Pay transparency - from compliance to competitive advantage

Pay transparency is no longer optional; it's becoming a legal requirement. With the EU Pay Transparency Directive set to be implemented in Romania by June 2026, now is the time to turn regulatory compliance into a strategic opportunity for your organisation.

In this focused one-hour webinar, Forvis Mazars will guide you through the essential steps to prepare for pay transparency requirements. You will discover how analysing pay gaps between women and men and aligning your employment policies can transform compliance from a checkbox exercise into a foundation for fairness, trust, and competitive advantage.

Forvis Mazars is hosting this webinar in both Romanian (9 December) and English (10 December) with identical content, so you can access the insights in the language you are most comfortable with. Everyone is welcome to attend either session.

Forvis Mazars Learning Lab: tax inspections and year-end closing priorities

As 2025 comes to an end, finance, tax, and HR leaders face two priorities: managing new legislative changes and ensuring accuracy and compliance for a strong start to 2026.

Join Forvis Mazars on 17 December 2025 at Noblesse Palace for an interactive event that brings together the latest legislative updates and our traditional year-end closing insights. Take this opportunity to stay ahead of regulatory changes and ensure a smooth and compliant financial year-end.

Top 10 most frequent questions employers ask about pay transparency, by Forvis Mazars

With the EU Pay Transparency Directive set to reshape how organisations approach remuneration, evaluation and internal communication, companies of all sizes are now facing new questions about what compliance will truly require.

To help clarify the essentials, Forvis Mazars has compiled answers to the ten most frequent questions it receives about pay transparency in Romania - cutting through the complexity so employers can focus on what matters most and where to direct their efforts.

The rise of transfer pricing audits and the key risks identified in practice, by Forvis Mazars

Transfer pricing audits are intensifying, and the latest data from ANAF confirms it. With more than 500 large taxpayers targeted for new audits and RON 1.79 billion in adjustments made in 2024 alone, transfer pricing has become one of the most scrutinised areas of tax compliance.

In a recent article, Forvis Mazars’ experts explore the trends shaping today’s audit landscape and the practical risks companies should prioritise.

The global minimum tax: a new challenge for multinational groups in Romania, by Forvis Mazars

Romania has implemented the OECD’s Pillar Two rules through Law 431/2023, introducing a 15% minimum effective tax rate for large multinational and domestic groups. With the first major deadline set for 30 June 2026, local entities need to start preparing now.

Forvis Mazars’ experts explain in a recent article which Romanian entities fall under Pillar Two, how the national top-up tax operates, and the role of transitional safe harbours. They also outline the key steps companies should take to prepare, including the option to file the N408 notification by 31 December 2025.

This article is provided by our Finance Partner, Forvis Mazars Romania.

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