The Body of Expert and Licensed Accountants of Romania (CECCAR) will celebrate the 20th edition of the National Day of the Romanian Accountant on July 13, 2024. This important event highlights the crucial role of accounting in driving business success and national economic growth, building on centuries of accounting tradition in Romania.

This year’s celebrations, themed “Smart Accounting Era: From A to AI,” will take place on Monday, July 15, at the Novotel Bucharest City Centre, starting at 10:00 AM. Under the slogan “Tradition for the Future. We Evolve Together!”, the event will explore how artificial intelligence can transform the accounting profession by enhancing efficiency, accuracy, and the value added by accountants.

Institutional partners, regulatory authorities, business leaders, and educational experts will open the event with their messages, leading to a panel discussion on how AI and smart solutions are reshaping the accounting industry. This focus is particularly relevant as technology continues to redefine professional landscapes, necessitating agility and forward-thinking in the accounting sector to meet evolving business needs.

The National Day of the Romanian Accountant also serves to publicly recognize the achievements of expert and licensed accountants. The CECCAR Top Members Awards will honor outstanding performance among accounting firms and individual professionals, acknowledging their contributions to the profession and the broader business community.

Accounting in Romania has evolved over centuries as a distinct scientific discipline within economic sciences, supported by national and international legislation through various historical periods. From the foundational accounting writings of the 18th and 19th centuries, such as the Codicele Vistieriei Moldovei, to the establishment of public accounting regulations through the Regulamentul Organic, accounting practices have been vital for economic management and transparency.

Significant milestones include the founding of accounting schools in Galați and Bucharest in 1864 and the introduction of accounting education in higher education by Professor Ion Ionescu de la Brad in 1870. The interwar period saw the formal establishment of the Body of Authorized and Expert Accountants of Romania in 1921, marking a crucial step in the profession’s development.

The communist regime significantly impacted the profession, centralizing economic control and dissolving the independent body of accountants. However, the post-communist era saw a resurgence with the re-establishment of CECCAR in 1992 and its reinforcement in 1994, positioning it as a vital public utility organization for managing the profession and preparing accounting professionals.

CECCAR’s adherence to international accounting standards and its membership in the International Federation of Accountants (IFAC) and the Federation of European Accountants (FEE) underscore its commitment to maintaining high professional standards. With over 40,000 members, CECCAR plays a pivotal role in Romania’s economic landscape, ensuring that the accounting profession meets both national regulatory requirements and international best practices.

Today, accounting in Romania intersects with various economic disciplines, such as taxation, statistics, and macroeconomics, as well as legal sciences, particularly in terms of creditor liabilities. The profession’s framework has been continually refined through legislative measures, including the significant Accounting Law no. 82 of 1991 and subsequent alignment with European Directives and International Financial Reporting Standards (IFRS).

As CECCAR celebrates the 20th edition of the National Day of the Romanian Accountant, it underscores the profession’s crucial role in driving transparency, efficiency, and growth in Romania’s economy. The advancements in smart accounting and AI herald a new era of opportunities and challenges, with Romanian accountants at the forefront of this transformation.

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