Laurentiu Vasile

Introduction

I boast an experience of more than 14 years in financial auditing and business advisory services, covering financial and accounting matters, to various organizations and firms in Romania and Moldova. As well, I have strong professional experience in audit of projects and entities funded by international organizations.

I have extensive working knowledge of IFRS, Romanian accounting standards and ISA.

I have a significant experience and a good knowledge of the business environment, accumulated as a result of the numerous engagements and projects within Second-Tier Audit Firms in Romania and Moldova: Grant Thornton, Baker Tilly Klitou and BDO.

Experience

During my audit experience, I was involved in assignments in Romania and Moldova - in auditing financial statements prepared mainly in accordance with IFRS and with Romanian Accounting Standards. I worked also with various national accounting standards like Moldovan, US, UK and German GAAP.

I led audit engagements as Project Coordinator/Audit Team Leader in Public Sector: Ministries, County Council, City Hall, Public Transportation and Utilities – Water Regias and in different industries, including energy, construction and infrastructure, transport, automotive, IT, construction materials, pharmaceuticals, food & beverage, agriculture, real estate – retail and construction, chemicals and petroleum, packaging, logistics - couriers & transportation, professional services, not for profit organisations, retail trade, leasing, travel, healthcare as well as in the audit of projects (financed by: World Bank, EBRD and EU).

I also participated in special-purpose engagements such as agreed upon procedures and loan covenants compliance, due diligence projects, internal audit engagements, as well as in AQR (Asset Quality Review) of Romanian subsidiaries of European banks requested by ECB (European Central Bank) – in 2014 for Alpha Bank Romania.

Trainings held: for Globaltraining – Professional development for the internal auditors - Fraud Risk & Leadership and for Baker Tilly, Grant Thornton: ISA’s and IFRS’s.

Professional qualifications and memberships

Fellow Member of the Association of Chartered Certified Accountants of the UK (FCCA)

Member of the Romanian Chamber of Financial Auditors (CAFR)

Student, level 5 of the Institute of Sales Management (ISM) – former Institute of Sales & Marketing Management (ISMM)

Capabilities

Audit

Audit on statutory financial statements (RAS FS) Audits on FS prepared in accordance with various standards (IFRS, German GAAP, US GAAP etc.), Audits on FS or reporting packages prepared for group consolidation purposes in accordance with Group Reporting Policies (GRP) Audit on Project Accounts and Loan Accounts

CFO Function

Management reporting and analysis Internal controls, Budgeting and planning Enhancing Finance and Controlling, analysis of variances
Cash flow planning, advise on areas which can be improved
Preparation of management reports highlighting the key performance indicators, ensure quality information to those charged with governance

IFRS reporting

Assistance for conversion of statutory financial statements into IFRS Methodological Assistance in preparation of FS Compilation of financial statements

Other services

Agreed upon procedures Review and compilation of FS Internal control evaluation Cash flow projection Profit planning and budgeting IFRS training

Advisory

Deal advisory: buying, selling, partnering, funding, fixing (turnaround, financial restructuring, solvency strategy) Consulting (performance management, finance transformation) more specifically: Merger & Acquisition, Due Diligence, Restructuring, Divestiture & Spin-Off

Accounting and Reporting

Preparation of financial statements under local GAAP/ IFRS Financial statements support Technical accounting advice Accounting changes and quick scan Assessment and optimisation of the existing finance function Advice in preparation of accounting policies
Review the correctness of the records posted in the accounting system

One-Stop Shop

I can provide together with the associated offices of my friends all the other range of services as One Stop Shop:

Web design & digital services

We’re a web design agency based in Bucharest, Romania. Other than obviously calling ourselves creative geniuses and digital natives, we are genuine and sincere. Always looking for the best solution that fits the client and always ready to introduce your company to the whole world (wide web).
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Timeline

Head of the Representative

From April to September 2015 I was the Head of the Representative of Laveco Limited for Romania.

Senior Audit Manager

From July 2011 to September 2013 I was Senior Manager with Grant Thornton Romania.

Senior Audit Manager

From January 2009 I was the Senior Manager with Baker Tilly Klitou of the Assurance Departments of Romania and Moldova Offices.
In October 2005 I joined Baker Tilly Klitou Romania as the Manager of the Assurance Department.

Senior Auditor

I started my audit career with BDO Romania in July 2001

Responsabilities

Senior Audit Manager

GRANT THORNTON ROMANIA
July 2011 – September 2013

Baker Tilly Klitou Romania & Moldova
January 2009 – October 2010

Coordinating the Audit Department in Romania / Romania and Moldova
Preparation of the planning of the audit departments Romania in Moldova
Administration of the audit departments
In charge of 14/20 managers, assistant managers, supervisors, seniors, semi-seniors and associate auditors
Do the planning and the budgeting of the audit assignments, due diligences, internal audits
Audit of financial statements prepared in accordance with IFRS, Romanian Reporting Standards, Moldovan GAAP, US GAAP, UK GAAP and with German GAAP
Attend with the partner at cold reviews/meetings
Due Diligences, Internal Audits, Agreed-upon procedures
Review of the Audit File and of the Financial Statements, Due Diligences or Internal Audit Reports
Review the updates of the Permanent File
Review staff requirements and timetable at various stages
Appraisal of the audit staff twice per year
Second reviewer for all assignments of other managers

Core values, Education and other skills

Education

I obtained a Bachelor degree in 2000 and Master degree in 2002, both in Accounting, from the Academy of Economic Studies (ASE) Bucharest.

Additional strenghts

Excellent computer skills (MS Office, etc.);
Good interpersonal and leading skills, excellent communications and presentation skills;
I speak fluently English and Romanian (mother tongue);

Core values

Integrity;
Technical Excellence;
Commitment&Respect;
Responsibility&Accountability;
Teamwork;
Stewardship&Perspective.

CONTACT