The risk management process is made and established by the management of the public enterprise and it is implemented by all staff. In this process is important to identify and to evaluate risks and to establish the risk tolerance that can be accepted depending on the probability of occurrence of...

It appears that generally limitations in achieving objectives are caused by the next realities: (1) leader’s judgment in making decisions is not always the best, if there are not regarded all the circumstances; (2) risks can occur because of simple error or misconduct; (3) decisions on risks...

International Financial Reporting Standards together with Public Sector Accounting Standards are based on professional reasoning by appealing to principles that can lead to several solutions for a certain problem. In this respect Romanian economic mechanisms have a high level of rigidity in the...

Bankruptcies of major credit institutions in the UK and the U.S., since late 2007, have generated a large-scale financial crisis that affected most countries of the world economy significantly. To limit the effects of the crisis and restore confidence in the banking system, states have taken...