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Category: Banks & Finance
Forvis Mazars Group, one of the world’s top ten audit firms, enters the Moldovan market through integration with the Moldovan Taxaco Group.
There are ten banks left in Moldova. Few people remember now, but during the dawn of banking activity, 17 commercial banks were operating in the country at the same time. That’s at the same time. In reality, there were much more. But even today, as well as 35 years ago, many experts, especially foreign ones, believe that three to five banks would be enough for such a small country as Moldova. There is another opinion: every market participant has its own client, even in such a financially capacious sector as banking – even if the loan portfolio of a commercial bank (CB) is smaller than that of a non-banking credit organization (NCO). Still, the requirements for CBs are more stringent than for NCOs, and one must comply with them. It is not always necessary for NCOs to become banks.
The revenues of audit companies in Moldova in 2023 amounted to 286,304 million lei. This is by 14.8% or 36,908 thousand lei more as compared to 2022. Among other things, there was an increase in revenue from the realization of audit of financial statements, which increased by 9% (9,097 million lei). The market representatives explain this growth by the efforts and growth of audit companies, as well as by the growth of reporting. Plus the adjustment for inflation.
The European Payments Council (EPC) on March 6 adopted a positive decision on the accession of Moldova and North Macedonia to the Single Euro Payments Area (SEPA). The European Commission’s statement on this occasion emphasized that this was a notable step towards the European integration of these countries.
In February 2025, 730 tax audits were conducted by the method of operational control, the press service of the State Tax Service reports. In 514 cases, violations of legislation were established, resulting in sanctions against violators.
