ECOFORUM [Volume 5, Issue 1(8), 2016] 387 Ionel BOSTAN Stefan cel Mare University of Suceava, Romania ionel_bostan@yahoo.com Elena-Doina DASCĂLU Spiru Haret University, Bucharest, Romania doina.dascalu@rcc.ro Abstract The activity to prevent embrittlement sustainability of public finances should manifest itself permanently, regardless of economic circumstances - national or European. This, more so as it was set by the Stability and Growth Pact (SGP), which introduces new rules on fiscal policy. Regulations and exercise adequate of financial control and public audit are intended to give certain guarantees on landing approach this topic (most on enhancing sustainability of public finances). Therefore, our approach aims to reveal some aspects of fiscal consolidation by means of financial law focused on exercise fiscal control and public audit. Our references aim the current regulatory of this important organization and functioning rule of law activities and results reported. Key words: financial law, tax audit, fraud control, the Fiscal Procedure Code, sound financial management, internal audit, Court of Auditors. JEL Classification: JEL Classification: E61, E62, E63, E64, E65, E66 I. ADDRESSING SUSTAINABILITY OF PUBLIC FINANCES (PFS) IN THE CONTEXT OF FINANCIAL THEORY AND TAX LAW NORMS According to literature (Blanchard, 1990), through sustainable fiscal policy we mean "those policies that do not lead to the explosive growth of indebtedness of the state, or after which no action is taken to increase taxation to curb public spending , the monetization of the budget deficit or public debt repudiation". In Romania, the legal framework applicable for fiscal budgetary responsibility when it comes to sustainability of public finances (SFP), stipulates that it (Romanian Parliament, 2010) "requires that, in the medium and long term, the Government should be able to manage risks or situations unexpected without having to make significant adjustments to expenses, income or deficit destabilizing effects of economic or social". Obviously any time SFP is the priority objective of any state, in this context the focus is on keeping public debt under control. In this regard, we record but a "rising public debt at a rate higher than economic growth" (ex.: 2706 Euro / person at the end of 2012, 3.314 Euro / person at the end of 2014, indicating a increasing by 22.4% government debt to GDP is 44.1%, tending to an effective 66 bn. Euro) (Court of Accounts, 2015); however, are below the alert threshold of 60% laid down in the Maastricht Treaty (TEU, 1992). The estimated level of gross government debt to the end of 2015 (MPF, 2015) is 38.8% of GDP and the medium term (2016-2019) will be less than 41.0% of GDP in the medium term and will not exceed 35.0% of GDP. What can be remembered is that sustainability of tax policies could be an appreciable if, as stated in some papers (Stoian, 2013) "the public debt to GDP does not grow faster than the spread between real interest rate and the actual rate growth". According to recent analyzes (Brateş, 2015), the current level of government debt is considered "sustainable, but was approached in a brisk critical level (calculated Romania as from 40 to 45% of GDP)". Exceeding 45% of GDP level may adversely affect economic growth and further borrowing capacity under suitable conditions. However, we have to show that the trend found in Romania's case is common to many countries, making amplify concerns to ensure SFP. In countries of the European Union, those concerns, resulting in the activation of public policies are based on the overall strategy of the EU, aiming at reducing public debt, increasing productivity and employment, and reforming pension systems (Court of Accounts, 2015). Hence the need for medium-term budgetary objectives by which to ensure a downward trend in public debt, applying strict budget discipline rules. Quadrant I. Regulations in fiscal policy established at EU level (MFP, 2015) Stability and Growth Pact (SGP), as regulation adopted at European Union level, introduce new rules on fiscal policy, budgetary developments in perspective regarding structural and not just in terms of nominal deficit. The preventive STRENGTHENING THE SUSTAINABILITY OF PUBLIC FINANCES BY MEANS OF FINANCIAL LAW FOCUSED ON THE CONTROL AND AUDIT EXERCISE