The position of an internal audit function as a “servant of two masters” (i.e. management and the audit committee) may lead to a conflict of priorities. In this setting, the tone at the top set by the Chief Audit Executive (CAE) plays a critical role in balancing the potentially competing...

The paper analyzes the ways of reporting other comprehensive income (OCI) and their relationships with three different variables, i.e. the volatility, the sign and the total amount of such accounting items. In order to investigate the reasons of such relationships, the study considers the final...

Tax uncertainty often negatively affects investment. Advance tax rulings (ATRs) are commonly used to provide tax certainty. We analyze ATRs from the taxpayers' and tax authorities' perspectives. Investors request ATRs if the fee does not exceed a certain threshold. We integrate this finding into...

Due to empirical research, tax and accounting compliance costs are a considerable burden for private businesses. However, cost estimates may be biased due to survey nonresponse and questionnaire framing effects. This paper investigates the impact of both aspects on the estimated cost burden. I...

As a result of globalization, the financial relationships have increased between countries, markets have became integrated, investors have an opportunity to make profitable investments which will bring highest return wherever they want and also internet banking and electronic banking...

Tax uncertainty often negatively affects investment. Advance tax rulings (ATRs) are commonly used as a measure to provide tax certainty. Rulings are currently controversially discussed in the context of tax planning activities of multinational firms (Luxembourg Leaks). We analyze ATRs as tax...

The audit market is divided between two main categories of auditors: Big Four auditors and Non Big Four auditors. The general accepted opinion is that the former cover most audit services. The objective of the study is to quantify the share covered by Big Four auditors at the level of Romanian...

This study aims to establish a methodology starting from certain criteria pertaining to the performance level of audited companies, according to which one may achieve a forecast of the changes in the financial audit services market, from the viewpoint of three categories of financial auditors:...

There is the possibility that the information on which basis the informational risk hasbeen identified and evaluated, not to be correct and impicitly the financial statements not to be inconformity with the represented reality, affecting in this way the objective of the ‘trustworthyimage‘....

This study aims to explore some particularities concerning the Romanian auditedentities which are oriented mainly towards contracting audit services from the largest companiesproviding auditing services (Big 4 companies). The assessment criteria taken into consideration forthe differentiation of...