The aim of the research is to examine relationship between earnings management (EM) and internal control system (ICS) in state-owned companies Republic Serbia. On a sample 64 founded by local self-government (11.92% total population Serbia), for period 2018-2021, we examined achieved level implementation EM practices those entities, ICS, as well efficiency effectiveness ICS deterring from manipulations through management. basis our analysis financial reports audited State Audit Institution...

Abstract This article explores the critical roles of forensic accounting and auditing in modern business, focusing on uncovering financial irregularities promoting transparency. Through a meticulous literature review analysis, study emphasizes significance these practices. The purpose is to underscore their importance, methodologies, implications. Methodologically, employs comprehensive analysis real-world applications. It investigates cases corporate fraud, statement dispute resolution....

Abstract The Covid-19 pandemic and the measures introduced to prevent its further spread have undoubtedly led significant business uncertainties regarding going concern principle. Not only has global economy experienced negative effects of pandemic, but a number professions as well, including auditing. With their responsibility in assessing concern, auditors face challenges. aim this paper is point out need for more extensive consideration well challenges ways which they overcome these limitations.

The aim of this paper is to highlight the issue independence and objectivity internal auditors, which, given place role audit in system corporate governance, increasingly gaining importance. In determining these concepts, difference between them pointed out, with particular emphasis their importance for effectiveness. By introducing circumstances which functions, especially emphasizes challenges that auditors face achieving work. process, they receive significant support from regulatory...

Abstract High quality financial statements should truly and objectively reveal the position, business results changes of a entity. Satisfied users according to which they make decisions represent best confirmation high reporting. The paper deals with conceptual framework reporting an attempt create unified revised as joint project by FASB IASB. Moreover, it considers novelties that brings. Also, points current state in terms Republic Serbia. Furthermore, some shortcomings accounting...

Abstract Small and medium-sized entities represent a special group of in the economy country terms organization structure financial reporting primarily for external users. The publication International Financial Reporting Standards Medium-sized Entities reveals that are not aligned with capabilities small entities, they basis second level reporting. main task goal IFRS SMEs is to simplify existing accounting regulations this segment company. They have identified specific needs information...

Abstract Quality of financial reporting is the precondition for effective functioning capital market due to globalization business. In countries Eastern and Central Europe, during period socialism, accounting preparation annual accounts was adapted needs planned economy. Today, it necessary work on harmonization national with international legislation. Also, they need promote a culture reporting, because economic entities do not understand essential role importance business potential. this...

The authors are dealing with the problem of evaluation investment projects effectiveness. Special attentions, when we talking about methodology evaluations is given to that financed by EU founds, having in mind this shown paper used for project going be from EU. This particularly important Serbia which candidate status and offer opportunities using funds financing. For territory Kosovo Metohija its projects, has special funds. emphasize very difficult evaluate some one method it find...

This paper explores the evolving landscape of forensic accounting, particularly in context changing financial frauds and challenges posed by COVID-19 pandemic. The progression fraud over time, driven technological advancements shifting business environments, highlights necessity for adaptive innovative approaches to detection prevention. Advanced methodologies, including data analytics, digital forensics, artificial intelligence, have empowered accountants confront increasingly sophisticated...

Financial statements should realistically show financial position, performance, and cash flows of a company. Creative reporting represents deliberate manipulation information in order to create misperceptions on company operations. are primarily intended for investors, encourage them purchase shares thus increase its market value. Creativity compiling flow lies presentation operating activities as investing financing activities, vice versa.

Errors ares not rare in financial accounting process. These errors can be random but also intentional. Intentional are deliberately misleading the users of information because image business enterprises displays different than what it actually is. For this reason there is a need developing instruments that detect these and possible fraud force subject reporting on basis to draw redesigned report will adapt real situation. In paper we discuss about reasons for compiling statements provide...

The balance sheet and income statement, as the traditional financial statements, cannot be enough to meet requirements of users for evaluation analysis all relevant aspects business. For this reason there is a need Cash flow which makes it possible follow movement funds. Analysis statement can give significant information its users, such company's ability generate cash, liquidity etc. In paper we present cash flows tobacco industry in Republic Serbia, carried out their analysis. our country...

The emergence and development of a unified european market imposes need for harmonization financial reporting business entites in the European Union. Directives Regulations are basic instruments national regulatory frameworks with aquaris, on one hand, hamozication accounting practices among member countries, as well those which claiming membership, other. According to model reporting, countries Central Eastern Europe belong or belonged mixed economy model. Our country belongs same In this...

The aim of this paper is to determine the position internal audit in corporate governance system Republic Serbia. In regard, it analyzes achieved level establishment companies, with special focus on different factors affecting it, provide a clearer view current situation. Given fact that determined by scope and role function, study also covers these issues. Empirical research focuses sample 113 companies from private sector. Research results indicate Serbia at satisfactory level, as...

Ensuring a high level of audit quality is basic prerequisite for fulfilling its purpose - increasing the credibility information contained in financial reports and functioning public interest. Since self-regulation profession has not proven to be sufficient mechanism ensuring audits last two decades need importance establishing effectively oversight over especially highlighted. The aim authors this paper assess compliance institutionalization Republic Serbia with relevant European Union...