Public Disclosure of Banking Audit Reports: Evidence from Romania
Public Disclosure of Banking Audit Reports: Evidence from Romania

Summary/Abstract: Informational banking asymmetry and banks’ tempting to manipulate or hide information affect the banking transparency and do not permit that banking disclosure process to be adequate for the users of public banking information. Based on these assumptions, this study explores the issue of public disclosure of audit reports at the level of Romanian banking system. Empirical study case focuses on analyzing of the way in which the banking societies Romanian legal persons that activate in Romania disclose information regarding the audit opinion on the financial statements. We studied the Internet as a medium used by banks to disclose public information and found evidence of unequal, irregular and unforeseeable behavior of banks that publish auditor’s report, taking into account that 31% from the analyzed banks did not disclose their auditors’ reports on financial statements during 2000-2011.

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