THE ROLE OF THE ACCOUNTANT PROFESSIONAL IN THE CONTEXT OF THE CORPORATE GOVERNANCE AND THE EXTERNALISATION OF THE ACCOUNTING FUNCTION

According to the Organization for Economic Cooperation and Development - OECD, corporate governance is the system by means of which companies are managed and controlled. In 1999, were published the OECD Principles of Corporate Governance, these being currently recognized as one of the 12 pillars of international financial stability. The OECD principles served as a reference point for compiling a collection of national corporate governance codes. They focus mainly on the companies listed on regulated markets, although they also cover issues related to companies that have a big number of shareholders but are not listed. These principles refer to: the rights of shareholders and their protection, the equitable treatment of all shareholders, including the minority and foreign shareholders, the role and rights of stakeholders, the transparency of information and its prompt dissemination, the responsibilities of the Board of Directors and of the executive management.: corporate governance, the accounting financial information, users of financial accounting information

Risk Management in the Decisional Process

The achievements of individuals have generated an attitude change toward risk, and the passion for gambling and bets has channeled itself toward economic growth, enhancing the life quality and technological progress. The capacity of defining something that will happen in the future and to choose between more than one alternative represents a central principle of today’s society. Managing risk helps us to orient in a large spectrum of decisional processes, ranging from investing capital to making a family, from insurance premiums market to whether wear a seatbelt. Long time ago, means of production, business administration, and communication were simple. Failures were often, but they could be solved without calling on a computer technician, accountant of investment adviser. Presently, the means we use are much more complex and failures can be catastrophic, with a devastating impact. We must constantly be aware of the failures’ probability and errors

CONSIDERATIONS ON THE PROSPECTS OF THE INTEGRATION OF THE EUROPEAN FINANCIAL MARKETS IN THE CONTEXT OF THE GLOBAL CRISIS

In recent years, as the efforts linked to the elimination of the capital movements control between countries have intensified, the preoccupations concerning the explanation of the financial integration concept have multiplied, in their turn. An integrated financial market is necessary particularly to the distribution of liquidity between the institutions in the euro zone, and, implicitly, for the enforcement of a common monetary policy. Thus, the problem of the integration of the financial market, respectively of the monetary one, appears as a premise for a homogenous transmission of the financial policy impulses all throughout the euro zone. The financial integration is defined in conformity with the law of a single price. According to this definition, in case the markets are integrated, the financial assets bearing identical characteristics should have the same price, regardless of their geographic origin.: financial market, financial stability, euro zone, single currency

RESEARCH REGARDING THE ROLE OF CONTINUOUS FORMATION OF THE EMPLOYEES IN ORDER TO INCREASE THE COMPETITIVENESS OF ORGANISATIONS IN SUCEAVA COUNTY

Defence mechanism, competitiveness is seen as a means of ensuring the survival of organizations. Are companies and even countries that speak of competitiveness in order to survive to the onslaught of globalization, new entrants and low profit margins. The studies are showing that all organisation are recognising the role and importance of human resources in ensuring its competitiveness. The present paper will try to analyse the role of employees' formation and to establish their importance in increasing the competitiveness, based on information offered by the companies from Suceava County.human resources, continuous formation, training programs, competitiveness

OBJECTIVES AND PARTICULARITIES OF DECISIONS IN THE CONTEXT OF CORPORATE GOVERNANCE

Corporate governance means the overall driving of the entire organization byaccepting all internal components, which work together, which eventually will be integrated in themanagement, and implemented to the risk management within the organization and financialmanagement system and internal control, including internal audit. At this time of globalization andharmonization, the accounting profession acts for the image that it deserves, fulfilling a criticalrole. Harmonization, convergence of accounting systems in service, currently must be made by themost trained professionals, under conditions of total transparency. Presently, the global economy,the influx of investment and cross-border operations in particular of the large enterprise groupsexert a strong influence on the accounting profession.accounting systems, decision processes, corporate governance, financial information.

THE POLICY OF PRICES AN IMPORTANT ELEMENT IN SUBSTANTIATION OF PENETRATION STRATEGY IN NEW MARKET SEGMENTS

Pricing policy aims to determine the price of goods and services sold by the organization. These figures have an impact over the turnover that must be higher to the total expenses for the enterprise to make profits. Therefore, it is important to know thecorporate strategy, accounting information, the need of information, users of accountancy’s products

Implications of the Budget Deficit on the Labour Market in Romania

The budget deficit has now become a common phenomenon in many countries, amid a surge in public spending. In Romania, as well as in other developing or developed countries, this topic is one of the most difficult issues facing economic policy. Under the current circumstances of economic activity, where financial needs are more advanced than available funds, budgeting at all levels is one of the primary issues, in particular by maintaining the principle of budgetary balance. Structure and Content of the Article – the article is structured as it follows : introduction, main chapters and the last part which presents the final conclusions concerning the suggested topic (the consequences of budget deficit over the labour market in Romania). The means used to finance the budget deficit, e.g. the increase in fiscality, the decrease in public spending, or the increase of public debt, leave their mark on the evolution of the labour market on both short and long term, as mentioned in the article

The Role of Internal Audit in Corporate Governance to Substantiate the Decision

Apart from the available research in the field, which is mainly based on quantitative data, the present study uses a wide range of qualitative data in order to detect certain more profound attitudes in the relationship between internal auditing and stakeholders. Investors may wish to provide assurance about the objectives and consultancy on risks and supervision. The success of efficient and effective functioning of corporate governance mechanisms requires integrity, ethical values and professional skills in the active participation of professionals. The research is focused on the relationship between business decision-making and governance. The issues upon which the research is focused relate to the degree of involvement of various stakeholders in corporate governance, especially risk management and internal audit

MANAGEMENT CONTROL SYSTEMS: A REVIEW OF THEIR COMPONENTS AND THEIR UNDERLYING INDEPENDENCE

Apart from governance and risk management, internal control is a third major component of corporate governance. Proper corporate governance relies upon risk management in order to identify the problems faced by the organization and on internal control in order to achieve its objectives. Internal auditors, apart from supporting the organization and enabling it to identify and monitor the risks lying ahead, must also understand and monitor the functioning of the internal control system which is the key to implementing the corporate governance principles. Internal control is a process implemented by the management of the public organization and directed at providing reasonable assurance in terms of meeting the organizational goals, which are grouped in the following categories: operating effectiveness and efficiency; reliability of financial reporting; compliance with the laws and regulations. The design of the control system is highly significant when the system is used, and the part it plays in the management of the business entity is fundamental. For instance, budget control is a measure of performance. A supervisor can use this variation with difficulty or with ease. Used differently, the same measuring system may convey different benefits. The organization of the internal control system in a manner that is divergent with the principles of planned economy has led managers to believe that control activities are discretionary, and the subsequent lack of management responsibility has weakened the efficiency of internal control systems during the first years after 1989

Tax Havens - The "Black Hole" of the International Finance

Tax evasion is a high interest topic, frequently approached both now and in the past because itis a very common phenomenon in all countries (either developed or emerging) and is particularlyimportant. Tax evasion determines the occurrenceof aset of creative accounting practices used inthe context of what is considered to be right and what goes beyond the ethical limits. The article presents, in general, tax evasion both theoretically and practically, examines thevarious ways in which evasion is interpreted by the laws and regulations adopted in the fiscalfield,the ways that lead businessmen to perform and fraudulently register operations. Also, we aimat characterising thestates that help the economic operators and the individuals, by means of taxhavens and implicitly offshore companies, in order to avoid the payment of certain taxes that arehigher than in the home country