„The public repository of financial statements” – an information system that ensures transparency in the business environment’s activities.
February 6, 2024 – The Ministry of Economic Development and Digitalization hosted the launch event of the Information System „Public Depository of Financial Statements.” This system is designed for the collection, processing, storage, analysis, and publication of financial statements, management reports, and auditor reports, ensuring data protection and security.
Why is the Financial Reporting Depository important?
– transparency in business activity, by ensuring public access to data from the financial statements of entities, can benefit potential business partners, professional investors, the general public, as well as relevant authorities;
– facilitating the publication of financial statements, management report, and auditor’s report.
– consolidating financial data from economic agents’ financial statements, as well as financial reports from budgetary institutions, onto a single platform Astfel, este asigurată transparența în sectorul public.
– providing data from financial statements to third-party information systems through the interoperability platform MConnect.
– disclosure of financial statement data.
Thus, the Republic of Moldova aligns itself with the best practices of European Union countries in the field of financial reporting.
With the launch of the Depository, the National Statistics Office provides 100% digital services for public services rendered to entrepreneurs and citizens. This significant step represents a 51% digitization of public services intended for entrepreneurs. However, our commitment does not stop here. The Republic of Moldova has talent, it possesses innovation, and through the implementation of digitalization and the reduction of bureaucracy, we will transform the country into the most business-friendly., the Deputy Prime Minister, Minister of Economic Development and Digitalization, Dumitru Alaiba, stated.
„We are pleased to have contributed to the digitalization and transparency efforts of financial information, ensuring that every citizen interested in the activities, financial position, and financial performance of both corporate entities and public institutions within the budgetary system has access to this data on a single platform.” , noted the Minister of Finance, Petru Rotaru.
Director General of the National Statistics Office, Oleg Cara, reported that, „The depository represents a convenient computer solution for entrepreneurs, providing online the data related to the financial situations of business partners. This also serves as a user-friendly tool for a wide range of users in the academic and research environment, as well as in civil society, facilitating the visualization and downloading of financial statements in various formats. Additionally, it allows the generation of tables for analysis based on predefined criteria.
Galina Cicanci, Country Manager of the International Finance Corporation, a member of the World Bank Group, stated that ,,This new system represents yet another step forward in terms of digitization and transparency for both the private and public sectors. It is a step forward and aligns with the best practices of the EU.”
„For the implementation of the Information System ‘Public Depository of Financial Statements,’ the National Bureau of Statistics actively collaborated with several institutions: the Ministry of Finance, the Electronic Governance Agency, the National Bank of Moldova, the Information Technology Center in Finance (CTIF), the Information Technology and Cybersecurity Service (STISC), and the Public Services Agency, with technical assistance provided by the International Finance Corporation (a member of the World Bank Group) and supported by the Government of Sweden.
The event can be followed here.
The digitization of public services means eliminating any source of corruption, reducing bureaucracy, and improving efficiency. It is part of the commitment of the Ministry of Economic Development and Digitalization to support the business environment and facilitate access to government services in a simple and efficient manner.
MDED encourages all institutions to accelerate the digitization process to create a more efficient and transparent business environment.
Furthermore, the Ministry of Economic Development and Digitalization aims to digitize 75% of G2B (Government-to-Business) services by the end of 2024 and deliver 100% of public services (both G2B and G2C – Government-to-Citizen) in digital format by 2030, as part of the Digital Transformation Strategy.
