The Influence of Audit Opinion on Companies’ Insolvency Risk. Evidence for Romania

Due to the increasing confidence of the population in tradable instruments and the opening of horizons towards investment policy, the Bucharest Stock Exchange (BVB) is recording a steady increase in market capitalization, similar to developed capital markets (New York, London, Paris, Tokyo etc.). The financial auditor plays an increasingly active role in the sustainable development of a company, and its opinion is able to influence to a large extent the ability of audited companies to attract capital. The goal of this research is to determine the role of the audit opinion in the sustainable development of a company listed on the Bucharest Stock Exchange and to determine its degree of insolvency using statistical procedures. The results of the research show the importance of financial audit in increasing the financial performance of a company and in the quality of financial reporting, together with determining the influence of audit opinion on the future risk of insolvency.