New government authority to tackle financial abuses
According to financial daily Napi Gazdaság, the government is to establish a new authority to prevent brokerage and banking scandals, and to avoid tax evasion more efficiently, hirado.hu reported.
The new authority would monitor accountants, tax advisors, tax specialists, and audit firms. Furthermore, the investigating body would also be responsible for structuring education requirements, issuing operating licences, reviewing the service providers, and – in case of deficiencies – imposing sanctions.
The government shall ensure that those companies that purchase services from tax advisors, tax specialists, and audit firms, get reliable and good quality work in return, Deputy State Secretary for Taxation and Accounting Zoltán Pankucsi told Napi Gazdaság.
He also emphasized that the implementation of government assistance in surveillance activities could be one of the most significant steps in tackling black economy.
Earlier, talking about the same issue, he stressed: “It is high time for the entire European Union to draw the right conclusions and adopt a hard line against incompetent auditors.”
based on the article of hirado.hu translated by Gábor Hajnal