Pub Date : 2019-08-01DOI: 10.20869/auditf/2019/155/020
Stefan Cosmin Danila, I. Robu
{"title":"The Influence of Cryptocurrency Bitcoin over the Romanian Capital Market","authors":"Stefan Cosmin Danila, I. Robu","doi":"10.20869/auditf/2019/155/020","DOIUrl":"https://doi.org/10.20869/auditf/2019/155/020","url":null,"abstract":"","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48421738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-08-01DOI: 10.20869/auditf/2019/155/021
E. Nechita
Since the publication of the Brundtland Report (WCED, 1987), the literature in the field of accounting engaged in covering the need for research on sustainable development through several approaches. The paper aims to present the current context of sustainable development worldwide, as well as to conduct a qualitative analysis of the efforts made by standard-setting bodies, representatives of accounting profession and professionals in the field, based on the public reports prepared and the studies conducted by the latter on sustainable development, with the purpose of emphasizing the influence of accounting and accounting profession on sustainable development. This research paper contributes to enriching literature in the field of accounting for sustainable development, by highlighting the important role of accounting, as well as the initiatives undertaken by stakeholders in this area to meet the 2030 Agenda for a better world (UN, 2015).
{"title":"Analysis of the Relationship between Accounting and Sustainable Development. The Role of Accounting and Accounting Profession on Sustainable Development","authors":"E. Nechita","doi":"10.20869/auditf/2019/155/021","DOIUrl":"https://doi.org/10.20869/auditf/2019/155/021","url":null,"abstract":"Since the publication of the Brundtland Report (WCED, 1987), the literature in the field of accounting engaged in covering the need for research on sustainable development through several approaches. The paper aims to present the current context of sustainable development worldwide, as well as to conduct a qualitative analysis of the efforts made by standard-setting bodies, representatives of accounting profession and professionals in the field, based on the public reports prepared and the studies conducted by the latter on sustainable development, with the purpose of emphasizing the influence of accounting and accounting profession on sustainable development. This research paper contributes to enriching literature in the field of accounting for sustainable development, by highlighting the important role of accounting, as well as the initiatives undertaken by stakeholders in this area to meet the 2030 Agenda for a better world (UN, 2015).","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42919070","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-08-01DOI: 10.20869/auditf/2019/155/016
Cezar Furtuna, Adela Ciucioi
In the era of continuous transformation, the role of internal audit has steadily increased, becoming one of the strategic pillars of today’s companies. In the current context, where corporate governance, risk management and internal controls are increasingly in the hands of regulators, shareholders and the general public, internal auditors have the task of reacting proactively and responsibly to the challenges of the market. Thus, it is important to understand the way in which internal audit activity is being carried out as well as its directions of development. This study aims to provide an overview of the priorities identified by companies in the field of internal audit and to illustrate opportunities to improve the efficiency and effectiveness of the activity of internal audit departments The themes approached in this research aim to define the role of the internal audit function and to describe the way in which internal audit processes are currently being carried out. The research also aims to identify the prospects for transformation of the internal audit function from one that is focused on regulatory compliance into one that can add value to companies. Issues related to the impact of new technologies in process optimization are explored and another topic of interest is the perceived level of current staff skills and the extent to which the budgets and the size of the audit departments currently correspond to their business needs.
{"title":"Internal Audit in the Era of Continuous Transformation. Survey of Internal Auditors in Romania","authors":"Cezar Furtuna, Adela Ciucioi","doi":"10.20869/auditf/2019/155/016","DOIUrl":"https://doi.org/10.20869/auditf/2019/155/016","url":null,"abstract":"In the era of continuous transformation, the role of internal audit has steadily increased, becoming one of the strategic pillars of today’s companies. In the current context, where corporate governance, risk management and internal controls are increasingly in the hands of regulators, shareholders and the general public, internal auditors have the task of reacting proactively and responsibly to the challenges of the market. Thus, it is important to understand the way in which internal audit activity is being carried out as well as its directions of development. This study aims to provide an overview of the priorities identified by companies in the field of internal audit and to illustrate opportunities to improve the efficiency and effectiveness of the activity of internal audit departments The themes approached in this research aim to define the role of the internal audit function and to describe the way in which internal audit processes are currently being carried out. The research also aims to identify the prospects for transformation of the internal audit function from one that is focused on regulatory compliance into one that can add value to companies. Issues related to the impact of new technologies in process optimization are explored and another topic of interest is the perceived level of current staff skills and the extent to which the budgets and the size of the audit departments currently correspond to their business needs.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44559902","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-01DOI: 10.20869/auditf/2019/154/009
Victoria Stanciu, Crina Seria
In a continuous changing world, internal audit registers its own dynamic. The present paper emphasizes the priorities and trends in internal audit reflected by international surveys as well as the empirical study performed by the authors in regard with the use of IT tools by the Romanian internal auditors. Starting from these coordinates, the authors investigate means of enlarging the use of IT focusing on data analysis and IT security issues. The authors’ investigation continues on coordinates less approached in the academic field, regarding the behavior dimensions and its impact on the internal auditors’ work. The study’s conclusions could represent important benchmarks in the practitioners’ work and offer a large field for debate in the academic and research field.
{"title":"Insights on the New Coordinates in Internal Audit","authors":"Victoria Stanciu, Crina Seria","doi":"10.20869/auditf/2019/154/009","DOIUrl":"https://doi.org/10.20869/auditf/2019/154/009","url":null,"abstract":"In a continuous changing world, internal audit registers its own dynamic. The present paper emphasizes the priorities and trends in internal audit reflected by international surveys as well as the empirical study performed by the authors in regard with the use of IT tools by the Romanian internal auditors. Starting from these coordinates, the authors investigate means of enlarging the use of IT focusing on data analysis and IT security issues. The authors’ investigation continues on coordinates less approached in the academic field, regarding the behavior dimensions and its impact on the internal auditors’ work. The study’s conclusions could represent important benchmarks in the practitioners’ work and offer a large field for debate in the academic and research field.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42991918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-01DOI: 10.20869/auditf/2019/154/010
Sailendra Sailendra, E. Murwaningsari, S. Mayangsari
This study aimed to examine the effect of the free float of shares and audit quality on company performance in public manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2013-2016. The sample comprised 80 companies with 320 years-observation and the hypothesis and the relationship between variables were tested with the 3.0. version of Smart-PLS statistical program. The results show that the free float of shares has no significant impact on company performance, while audit quality has a significant positive effect. The results are relevant for regulators, shareholders and other stakeholders, especially in countries with emerging capital markets, such as Indonesia.
{"title":"The Influence of Free Float Shares and Audit Quality on Company Performance: Evidence from Indonesia","authors":"Sailendra Sailendra, E. Murwaningsari, S. Mayangsari","doi":"10.20869/auditf/2019/154/010","DOIUrl":"https://doi.org/10.20869/auditf/2019/154/010","url":null,"abstract":"This study aimed to examine the effect of the free float of shares and audit quality on company performance in public manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2013-2016. The sample comprised 80 companies with 320 years-observation and the hypothesis and the relationship between variables were tested with the 3.0. version of Smart-PLS statistical program. The results show that the free float of shares has no significant impact on company performance, while audit quality has a significant positive effect. The results are relevant for regulators, shareholders and other stakeholders, especially in countries with emerging capital markets, such as Indonesia.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47206192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-01DOI: 10.20869/auditf/2019/154/013
E. Ionașcu, M. Mironiuc, I. Anghel
The expansion of international real estate investment has also created the need for more transparency on real estate markets. In this context, the paper aims at identifying the dimensions and trends of the transparency of real estate markets in 31 states, mostly European, in correlation with their economic development. Applying the Principal Component Analysis (PCA), t-Student test and regression analysis highlighted the strong and significant associations of transparency quantified by the Global Real Estate Transparency Index with the institutional environment, macroeconomic factors, technology, innovation and the social environment. The results of the research show that the most competitive and robust countries have the most transparent and mature real estate markets. Technology, innovation, infrastructure quality and expanded business networks imply new trends in transparency in developed countries. In emerging and developing countries, the quality of governance and lack of corruption are prerequisites for transparency in real estate markets.
{"title":"Transparency of Real Estate Markets: Conceptual and Empirical Evidence","authors":"E. Ionașcu, M. Mironiuc, I. Anghel","doi":"10.20869/auditf/2019/154/013","DOIUrl":"https://doi.org/10.20869/auditf/2019/154/013","url":null,"abstract":"The expansion of international real estate investment has also created the need for more transparency on real estate markets. In this context, the paper aims at identifying the dimensions and trends of the transparency of real estate markets in 31 states, mostly European, in correlation with their economic development. Applying the Principal Component Analysis (PCA), t-Student test and regression analysis highlighted the strong and significant associations of transparency quantified by the Global Real Estate Transparency Index with the institutional environment, macroeconomic factors, technology, innovation and the social environment. The results of the research show that the most competitive and robust countries have the most transparent and mature real estate markets. Technology, innovation, infrastructure quality and expanded business networks imply new trends in transparency in developed countries. In emerging and developing countries, the quality of governance and lack of corruption are prerequisites for transparency in real estate markets.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42547846","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-01DOI: 10.20869/auditf/2019/154/008
O. Bunget, A. Tudor, Anca Diana Sumanaru
{"title":"Aspects Regarding the Auditor-Auditee Relationship in the Context of Negotiation","authors":"O. Bunget, A. Tudor, Anca Diana Sumanaru","doi":"10.20869/auditf/2019/154/008","DOIUrl":"https://doi.org/10.20869/auditf/2019/154/008","url":null,"abstract":"","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49351600","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-01DOI: 10.20869/auditf/2019/154/011
Nicoleta Farcane, R. Blidişel, O. Bunget, A. Dumitrescu
As users' needs become larger, entities need to adapt their provided information. Thus, financial reporting suffers permanent changes. One of the recent changes that occurred at entities that report in line with the International Financial Reporting Standards, applicable from 2018, highlights the IFRS 15 revenue recognition approach, which amends IAS 18 and is based rather on a related approach transfer of control than on the commonly used risk transfer and benefit approach. The areas that best reflect these changes are telecommunications, software development, real estate investment and construction. In this paper it is emphasized the impact of the new IFRS 15 standard on income recognition, highlighting various illustrative examples.
{"title":"Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by Step","authors":"Nicoleta Farcane, R. Blidişel, O. Bunget, A. Dumitrescu","doi":"10.20869/auditf/2019/154/011","DOIUrl":"https://doi.org/10.20869/auditf/2019/154/011","url":null,"abstract":"As users' needs become larger, entities need to adapt their provided information. Thus, financial reporting suffers permanent changes. One of the recent changes that occurred at entities that report in line with the International Financial Reporting Standards, applicable from 2018, highlights the IFRS 15 revenue recognition approach, which amends IAS 18 and is based rather on a related approach transfer of control than on the commonly used risk transfer and benefit approach. The areas that best reflect these changes are telecommunications, software development, real estate investment and construction. In this paper it is emphasized the impact of the new IFRS 15 standard on income recognition, highlighting various illustrative examples.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48201745","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-01DOI: 10.20869/auditf/2019/154/014
George Aevoae, I. Georgescu
The cross-border mergers and acquisitions (M&As) are powerful strategies, used by companies, usually with financial resources, to search and acquire target companies that fulfill specific needs of the acquirers. The characteristics of the target companies and of the environment where they activate compose the determinants that lead to either a domestic or a cross-border M&A, suitable to generate synergy success and efficiency gains for the shareholders of the involved companies. Considering a sample of 60 acquisitions which involved at least one Romanian company in the position of the acquirer or the target, the authors considered the financial information of both companies as predictors for the stake that the acquiring company will buy in the target. Also, they considered the level of relatedness between the activities of the companies and the accounting practice of the target as factors with significant influence in this choice. The research results will show that the deal value paid, the productivity and the relatedness of the two companies significantly influence the stake purchased in the target company, but the accounting practice lead to a significant increase in the capacity of the proposed model to predict the variance of the final stake.
{"title":"The Determinants of Cross-Border Acquisitions: Evidence from Romania","authors":"George Aevoae, I. Georgescu","doi":"10.20869/auditf/2019/154/014","DOIUrl":"https://doi.org/10.20869/auditf/2019/154/014","url":null,"abstract":"The cross-border mergers and acquisitions (M&As) are powerful strategies, used by companies, usually with financial resources, to search and acquire target companies that fulfill specific needs of the acquirers. The characteristics of the target companies and of the environment where they activate compose the determinants that lead to either a domestic or a cross-border M&A, suitable to generate synergy success and efficiency gains for the shareholders of the involved companies. Considering a sample of 60 acquisitions which involved at least one Romanian company in the position of the acquirer or the target, the authors considered the financial information of both companies as predictors for the stake that the acquiring company will buy in the target. Also, they considered the level of relatedness between the activities of the companies and the accounting practice of the target as factors with significant influence in this choice. The research results will show that the deal value paid, the productivity and the relatedness of the two companies significantly influence the stake purchased in the target company, but the accounting practice lead to a significant increase in the capacity of the proposed model to predict the variance of the final stake.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46897333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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