Why Do Moldova IT Park Residents Need an Audit?
If you're a resident of Moldova IT Park, you've probably heard that an audit is not just a formality. It’s a mandatory procedure established by law, but beyond legal compliance, it brings strategic advantages.
A financial audit helps you:
- avoid fines and claims from tax authorities,
- build trust with investors and banks,
- get expert advice on tax and process optimization.
In this article, we’ll explain who needs an audit, when it's required, how it works, what it costs, and how to avoid common mistakes. If you want to complete the audit quickly, properly, and with added value — keep reading.
What is Moldova IT Park and Why Was It Created?
Moldova IT Park is a specialized virtual IT cluster created by the Moldovan Government to support and develop the IT industry. It provides special tax incentives, simplified regulation, and administrative support for companies operating in information technology.
Main features:
- Single 7% turnover tax (includes VAT, income tax, social contributions, etc.).
- No territorial limitations — the company can be located anywhere in the world.
- Simplified reporting and interaction with authorities.
Being a part of Moldova IT Park gives IT companies access to more favorable business conditions, reducing administrative and tax burdens. However, it also comes with responsibilities — including annual audit requirements.
Who Is Required to Conduct an Audit in Moldova IT Park?
According to the legislation of the Republic of Moldova, all Moldova IT Park residents are required to perform an annual financial audit. This requirement is outlined in the Moldova IT Park Law No. 77 of 2016 and the Tax Code.
An audit is mandatory if you:
- are registered as a resident of Moldova IT Park;
- carried out financial and economic activity during the reporting year;
- must submit annual financial reports to tax authorities.
An audit is not required if:
- you joined the IT Park at the end of the reporting year and had no activity;
- you submitted a voluntary withdrawal request before the end of the reporting period (with no activity).
Important: Even if you believe you're not required to conduct an audit, it’s best to consult a legal expert to avoid potential penalties for violating the IT Park regime.
What Does the Moldova IT Park Audit Cover?
For Moldova IT Park residents, the audit is far from just a checkbox. It reviews the company’s key activities to ensure compliance with legal and fiscal requirements.
Main areas of verification:
-
Financial reporting
Verification of the accuracy of the balance sheet, profit and loss statement, and cash flow statement. -
Compliance with the tax regime
The auditor assesses the accuracy of the unified tax calculation (7%), compliance with tax obligations, and absence of undeclared or hidden payments. -
IT Park compliance
Auditors check if the company’s activity aligns with accepted CAEM codes (IT, telecom, consulting, etc.) and whether revenue from other activities is properly declared. -
Contract execution and operational transparency
Contracts with clients and contractors, payments, transfers, and internal processes are analyzed. -
Risks and internal control
Upon completion, the company receives recommendations to eliminate identified risks and improve processes.
This approach not only meets legal requirements but also provides valuable insights into the financial health of your business.
Why is an audit not just a requirement but also a benefit?
For many IT Park residents, the audit is seen purely as a legal obligation. In reality, it's a powerful tool that can improve business efficiency and strengthen its market position.
Main benefits include:
-
Increased trust from partners and investors
Independent verification of your financial reports enhances company reputation, making it easier to attract investment and loans. -
Reduced tax and legal risks
Detecting errors in accounting and reporting helps avoid fines and additional tax assessments during inspections. -
Process optimization
Auditors can point out weaknesses in internal control, document flow, and financial management systems. -
Preparation for scaling
Companies planning to grow, enter international markets, or go public need transparent and validated reporting — audit is a crucial step. -
Future savings
A well-executed audit today can prevent many issues and expenses tomorrow.
Thus, a smart audit strategy helps residents not only comply with regulations but also significantly strengthen their business.
What determines the cost of an audit for Moldova IT Park residents?
Audit pricing is one of the most common questions. There’s no single number because the cost is calculated individually based on several factors.
Key factors affecting the cost:
-
Company size and transaction volume
The more clients, transactions, and contractors — the more time-consuming the audit. -
Accounting structure and automation
Use of accounting software, clean bookkeeping, and transparent documentation reduce audit costs. -
Operational complexity
If the company has international operations, subsidiaries, or foreign payments — the audit becomes more complex and expensive. -
Urgency
Audits requested in peak periods (e.g. February–March) are usually more expensive due to high demand. -
Additional services
Report preparation, tax consulting, post-audit assistance — all billed separately.
Average price range:
- Small business (up to 2 million MDL/year) — from 7,000 to 12,000 MDL
- Medium-sized business — from 12,000 to 20,000 MDL
- Large companies — from 20,000 MDL and above
Tip: Request a personalized quote for your company based on its specifics — it's free and gives you a precise figure with no “surprises.”
How We Conduct Audits for Moldova IT Park Residents
At Intelcont, we’ve made the audit process as clear and comfortable as possible. Each step is defined, deadlines and actions are agreed upon, and the result is not just a report — but valuable recommendations.
Audit steps:
1. Initial consultation and data collection
We clarify your company’s status, turnover, accounting structure, and audit goals. We request a minimal set of documents to estimate the work volume.
2. Pre-audit: risk and accounting analysis
We conduct a quick review of your reports, identify weaknesses, and give recommendations to fix critical issues before the main audit begins.
3. Main audit
We thoroughly review documents, transactions, and the compliance of your reports with legislation and IT Park requirements. We work remotely or on-site — depending on your preference.
4. Final report and recommendations
You receive an official audit report along with a list of recommendations to improve accounting, reduce risks, and increase transparency.
5. Post-audit and support
If needed, we help with adjustments, prepare clarifications for IT Park, and offer tax consulting.
🔔 Important: We don’t just “check the numbers.” Our goal is to make the audit a useful tool for your business growth and stability.
Common Mistakes by IT Park Residents — and How to Avoid Them
Almost every second audit in Moldova IT Park reveals issues that could have been easily avoided. Here are the most common ones:
❌ Mistake #1: Mismatched business activities
Many companies declare IT-related activities but in fact perform supporting or unrelated ones. This violates residency conditions and may result in exclusion from the IT Park.
✔ Tip: regularly check if your business activities match the declared CAEM codes. If your focus has changed — update your registration data.
❌ Mistake #2: Poor accounting practices
Missed transactions, incorrect expense classifications, and manual bookkeeping make the audit harder and increase risk.
✔ Tip: use automated accounting systems and work with experienced accountants familiar with IT Park rules.
❌ Mistake #3: Late audit preparation
Starting to gather documents at the last minute is a bad idea. Auditors won’t have time for a thorough review, and you may not fix issues in time.
✔ Tip: begin preparations in December or early January. Order a pre-audit — it can save time and money.
❌ Mistake #4: Ignoring auditor recommendations
Some companies receive the audit report and shelve it until next year — only to face the same issues again.
✔ Tip: implement recommendations right after the audit. This improves efficiency and makes future audits easier.
If you want to avoid these and other issues — start early and consult with professionals.
Client Story: How an Audit Strengthened an IT Company
One of our clients — a mid-sized IT company with an annual turnover of about 3.5 million MDL — approached us for the mandatory audit as a Moldova IT Park resident.
Initial situation:
- Accounting was done manually in Excel.
- There was no proper internal control system.
- Several contracts did not meet IT Park requirements.
What the audit revealed:
- Incorrect classification of income by activity types.
- Unaccounted tax liabilities on employee bonuses.
- Non-compliance in transactions with non-residents (missing supporting documents).
Actions taken:
- The company switched to automated accounting within a week.
- We helped revise contracts to meet IT Park standards.
- All tax issues were resolved before filing the annual report.
Outcome:
- The company passed the audit with no objections.
- Avoided fines and tax authority inspections.
- Received recommendations on financial stability and cost structure.
Conclusion: The audit not only fulfilled a legal requirement but significantly improved internal management processes.
Turn Your Audit Into a Competitive Advantage
For Moldova IT Park residents, an audit is more than just ticking a box. It’s a tool for identifying risks, strengthening finances, and preparing for scaling up.
If you want your audit to be:
- fast and stress-free
- with minimal effort on your part
- backed by expert support and practical advice
Contact Intelcont today. We offer a free consultation, calculate the exact cost for your company, and provide the best solution.
🟢 Don’t delay — start preparing now and save time, money, and energy.
