Finance News by Mazars Romania - January 2022

Thu | 27.01.2022


Leadership in transition: business resilience, digital transformation, and employees wellbeing policies are top priorities on the board’s agenda, reveals survey from Mazars

Mazars, the international audit, tax, and advisory firm, together with Board Agenda and in association with Henley Business School, launched the ‘Board Transformation: Leadership in transition, how boards and directors are adapting to a post-pandemic reality’ study.

Organisational resilience starts from the top

Since the COVID-19 pandemic has started, the whole world has experienced a level of disruption and business risk, that no one was prepared for. While some businesses have failed, others came up with new ways of transformation and have succeeded. Business resilience has perhaps never been more important than at this very moment.

According to the survey, nearly three-quarters (72%) agree or strongly agree that the pandemic has prompted the board to increase the long-term resilience of the business. Only one in 10 (11%) disagreed with this notion, though 17% were undecided. Also, more than half of the respondents (56%) believe their boards have made substantial changes to the structure or operations of the organisation because of the pandemic.

Businesses have been forced to transform at an unprecedented speed because of the pandemic. Some transformations may have been long predicted and merely accelerated, while others have been unexpected. But all have been disruptive, both positively and negatively. A trend that is evidenced in our survey findings and has impacted local businesses as well is the growing appreciation of the evolving needs of the organisation and its people. The leaders should now be considering how to further strengthen engagement and motivation with employees to get the most out of new ways of working. The positive impact that prioritising both environmental and social issues can have on an organisation is also a key aspect to be considered by businesses and their Boards. Finding the right strategy to significantly transform and increase the pace of change while building its positive contribution to society and environment will give businesses the necessary resilience to grow further.”, mentioned Răzvan Butucaru, Partner, Financial Services and Advisory Leader, Mazars România.

Read more info HERE.


SAF-T implementation in Romania. News and challenges for 2022, by Mazars

After many requests from the business environment, as well as various statements issued by the tax authorities, ANAF digitalisation has been included on the agenda for 2022. This brings several challenges and opportunities for businesses, and it is very important to stay up to date with the latest developments.

As part of its digital transformation strategy, the Romanian tax authorities have started to implement SAF-T in Romania on 1 January 2022. The first companies required to submit their SAF-T statements are the large taxpayers, followed next year by the medium-sized taxpayers and the small taxpayers in 2023.

Mazars has developed a solution to help companies submit their statements successfully, and they are ready to support the large taxpayers through the challenges that may appear in the following year(s).

Read more info and register for the next SAF-T session HERE.


Mazars Romania announces the appointment of three new directors

Mazars Romania is consolidating its management team by promoting three Directors within the Outsourcing – Accounting, and Tax departments.

It is a great pleasure to welcome Cristina Constantin, Mariana Dragomir, and Liviu Mihai Gheorghiu to the leadership team as Directors. Because our strength lies in the people we work with, we grow stronger together when we combine our expertise, agility, and understanding in providing answers and experiences that are the right fit for our clients and society. The Mazars’ board wishes them great successes in their new role and thanks them for choosing to develop their careers within our organisation.”, mentioned Dino Ebneter, Country Managing Partner, Mazars Romania.

Cristina Constantin, appointed as Director, Outsourcing – Accounting, boasts an experience of more than 15 years in offering consultancy regarding financial accounting to clients from various industries. Cristina is an expert accountant, registered both as a member of the Romanian Chartered and Certified Accountants Body (CECCAR) and of the Romanian Chamber of Tax Consultants (CCF). Together with her team of professionals, she will continue to increase Mazars’ visibility in all areas of accounting and reporting, while at the same time contributing to the growth of her client’s businesses.

Mariana Dragomir, appointed as Director, Outsourcing – Accounting, has developed her competencies and expertise in professional advisory services related particularly to financial accounting, management accounting, and financial reporting. Having more than 16 years of experience in professional advisory services, together with her team of professionals, she has delivered tailored accounting services to international clients. With a growth mindset and a flexible approach, she has specialized in advising her clients particularly in the implementation projects of various ERP systems. Mariana is both a member of the Romanian Chartered and Certified Accountants Body (CECCAR) and of the Romanian Chamber of Tax Consultants (CCF).

Liviu Gheorghiu, appointed as Tax Director, boasts an experience of more than 13 years in the field of finance and taxation, with a focus on transfer pricing assistance and international taxation. He assisted clients with a full range of transfer pricing services, as well as assistance in preparing and submitting Advance Pricing Agreements (APA), and mutual agreement procedures to eliminate double taxation. Liviu is a member of the Romanian Chamber of Tax Consultants (CCF). Being very passionate about his profession and wanting to further grow his knowledge, Liviu is currently studying Masters of Laws - Advanced LLM in International Taxation at King’s College in London. While guiding his team of passionate consultants, Liviu will play an important role in strengthening and growing Mazars’ tax practice.

Read more info HERE.


Episode 5 of the Let’s talk luxury podcast, by Mazars

Luxury businesses have long promoted and sold pieces that are timeless, but that does not mean the way the sector operates should stay constant too. In fact, the luxury sector is at a crossroads with brands looking for ways to meet new customer demands, tap into advanced technology and form cross-sector partnerships.

To better understand this business model makeover, Mazars has launched Let’s talk luxury, a podcast series featuring global luxury experts. In each episode they share their insight on the trends shaping the luxury market today.

In episode 5, Lina Bustillo, founder of Aureum, a Latin American luxury specialist, explains the specifics of the market and the role of local luxury brands in preserving cultural heritage.

You can listen to episode 5 HERE.


This article is provided by our Finance Partner, MAZARS Romania

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