Following the bankruptcy of large firms (Enron, Parmalat, WorldCom) due to incompetence and failure of procedures is necessary to improve the audit work, paying special attention to risk management and taking into account the recommendations of the auditors. This paper presents a detailed...

The main role of corporate governance is to restore market confidence and in this process plays an important role the audit committee. The purpose of this case study is to analyze the correlations between the Audit Committee and profitability indicators. Considering the achievement of the...

Local communities in Romania and around the world, faced with extensive decentralization of public services have turned into real management units which must meet the needs of increasingly diverse individuals, the insurance fund with limited resources. This has led to the identification of...

Given Romania's integration into the European Union we consider it appropriate to clarify some terms used in auditing activities of both public funds and European funds. International practice requires a clear separation of internal audit activities from other management control concepts and...

Accounting scandals exploded at the beginning of 2000s and the collapse of Arthur Andersen highlighted the importance of implementing engagement risk management strategies in audit firms. Engagement risk refers the overall risk associated with an audit engagement and it consists of three...

Information technology can contribute significantly to business efficiency, including also enterprise governance, through appropriate and effective use. In most cases, it is difficult to determine which technologies are relevant to business needs and the use of appropriate options is not always...

Management plans, organizes, and directs the performance of sufficient actions to provide reasonable assurance that objectives and goals will be achieved. Management periodically reviews its objectives and goals and modifies its processes to accommodate changes in internal and external...

The article intends to identify best practices regarding the organization and functioning of audit committees in the corporate governance codes, listing requirements of stock exchanges and views of practitioners. The first section is dedicated to the establishment of audit committees, covering...

The article reviews the evolution of external audit in some European countries and considers how this is likely to affect auditing in the future. The analysis shows how the European Commission has recently concentrated its harmonization focus on the consolidated accounts of listed companies and...

Control covers debts and liabilities, outstanding liabilities and purchases and expenses in the profit and loss and long-term liabilities, provisions and funding costs. The validation tests applied to cover all, claims liabilities in the financial statements but with less emphasis on testing for...