Case study over the employee’s benefits and pension plan accounting

The study indicates in its introduction IAS 19’s and IAS 26’s objectives continued by a detailed presentation of the employee’s benefits and pension plans. The essay represents a study over the benefit-determined pension plans, emphasizing, as a result of a comparing analysis, the main differences between the two major pension plans categories. At the end of the essay one can observe the conclusions that have been drawn as a result of the conducted study regarding the obtained results.benefit-determined pension plans, contribution-determined pension plans, short-term employee benefits, long-term employee benefits, benefit-determined obligation’s actualized value.

THE "CREDIBILITY CRISIS" OF AUDITING PROFFESION: AN EMPIRICAL STUDY IN ROMANIA

For decades the accountancy profession has responded to the "credibility crisis" by coining, reciting and hiding behind the phrase "audit expectation gap" - a phrase which denotes the differences between the public's and Auditors' perceptions of the role of an audit function. This paper reports the findings of a questionnaire survey on the audit expectation gap conducted in Romania. The aims of the study are to examine whether an expectation gap exists in Romania among the auditors, auditees and audit beneficiaries in relation to the auditors' duties The results proved the existence of an audit expectation gap in Romania. The study shows that the auditees and audit beneficiaries placed much higher expectations on the auditors' duties when compared with what auditors have perceived their duties to be. The analysis of the expectation gap indicated the existence of unreasonable expectations of the part of users.audit, audit expectation gap

Integrated Approach Model of Risk, Control and Auditing of Accounting Information Systems

The use of IT in the financial and accounting processes is growing fast and this leads to an increase in the research and professional concerns about the risks, control and audit of Ac-counting Information Systems (AIS). In this context, the risk and control of AIS approach is a central component of processes for IT audit, financial audit and IT Governance. Recent studies in the literature on the concepts of risk, control and auditing of AIS outline two approaches: (1) a professional approach in which we can fit ISA, COBIT, IT Risk, COSO and SOX, and (2) a research oriented approach in which we emphasize research on continuous auditing and fraud using information technology. Starting from the limits of existing approaches, our study is aimed to developing and testing an Integrated Approach Model of Risk, Control and Auditing of AIS on three cycles of business processes: purchases cycle, sales cycle and cash cycle in order to improve the efficiency of IT Governance, as well as ensuring integrity, reality, accuracy and availability of financial statements

FRAUD AND ERROR. AUDITORS' RESPONSIBILITY LEVELS

Are auditors responsible for detecting fraud in the companies they inspect? Most ofthe public thinks they are. Auditors often demur. The auditors' duties for the prevention, detectionand reporting of fraud, other illegal acts and errors is one of the most controversial issues inauditing. This paper reports the findings of a survey that explores the financial report users’perceptions on the extent of fraud in Romania and their perceptions of auditors’ responsibilities indetecting fraud and the related audit procedures. This study also finds that there is a widely heldmisperception of the objective of an audit. This is because, among respondents, a much higherexpectation has been placed on the auditors' duties in detecting and reporting fraud than statute oraudit standards require. The results of the study show unquestionably the existence, with respect todetection of fraud, of a gap between the perception of the respondents and the present statutoryrequirements of auditors.fraud; auditors’ responsibilities; audit expectation gap

THE CREDIBILITY CRISIS OF AUDITING PROFFESION: AN EMPIRICAL STUDY IN ROMANIA

For decades the accountancy profession has responded to the credibility crisis by coining, reciting and hiding behind the phrase audit expectation gap a phrase which denotes the differences between the publics and Auditors perceptions of the role of an audit function. This paper reports the findings of a questionnaire survey on the audit expectation gap conducted in Romania. The aims of the study are to examine whether an expectation gap exists in Romania among the auditors, auditees and audit beneficiaries in relation to the auditors duties The results proved the existence of an audit expectation gap in Romania. The study shows that the auditees and audit beneficiaries placed much higher expectations on the auditors duties when compared with what auditors have perceived their duties to be. The analysis of the expectation gap indicated the existence of unreasonable expectations of the part of users