THE SCHOOL FINANCIAL AUDIT IN ROMANIA

This paper aims to find out what is the school financial audit about, the role of the audits, the accountability offered by audit systems, especially in school administration, how to develop a school's financial audit model. The need for such a study stems from the desire to provide security to all stakeholders that the funding of school education is adequate and efficient and the school account is meant to be audited. This study reveals a lack of: tehnical competence of employees, responsability assumption and ambiguous legislation. Also, the finding confirms that the school financial audit model consists of general audit standard and reporting standard. In order to avoid that the level of allocated resources directly affects the performance of the audit in schools, we recommend a regular training of accountants and auditors and to ensure a functional decentralization at the school level. An effective management system should also include internal reviews and a yearly basis–and on an as-needed basis audits to ensure accuracy and prevent fraud.