Analysis of the investment’s opportunity in the frame of the decisional process

In a dynamic competitive economy the investment option supposes the selection of the investment projects upon different criteria. The investments’ typology directly determines the investment decision and, implicitly, these option criteria.investments, criteria, decision, productivity, efficiency

INTERNAL CONTROL MECHANISMS IN THE CONTEXT OF THE CHALENGE FINANCIAL CRISIS

Prevention and earlier detection of fraudulent financial reporting must start with the entity that prepares financial reports. Thus the first focus of the Sarbannes-Oxley Actâ€(tm)s recommendations is the public company. These recommendations, taken together, will improve a company's overall financial reporting process and increase the likelihood of preventing fraudulent financial reporting and detecting it earlier when it occurs. For some companies, implementing these recommendations will require little or even no change from current practices; for other companies, it will mean adding or improving a recommended practice. Whether it means adding or improving a practice, the benefits justify the costs. The Sarbanes-Oxley Act is a direct response to the recent scandals in the US corporate world. Governance, compliance, risks and internal controls are mounting concerns for almost all organizations. As the numbers of rules, regulations and contractual obligations steadily rise, management is growing more and more concerned about their exposure on day-to-day operational decisions!fraud, internal control, COSO, risks based audit

LE LIVRE DES RISQUES – INSTRUMENT EFFICACE DANS L’APPLICATION DE LA STRATEGIE D’AUDIT INTERNE FONDE SUR LES RISQUES (RISK BASED AUDITING)

Risk occurrence is inherent in all the economic activities performed by an enterprise. Risk quantification is primordial when taking an economic decision until the completion thereof. Risk management responsibility or control in an organization, quality

LE LIVRE DES RISQUES – INSTRUMENT EFFICACE DANS L’APPLICATION DE LA STRATEGIE D’AUDIT INTERNE FONDE SUR LES RISQUES (RISK BASED AUDITING)

Risk occurrence is inherent in all the economic activities performed by an enterprise. Risk quantification is primordial when taking an economic decision until the completion thereof. Risk management responsibility or control in an organization, quality drelevance des risques, l’audit interne, le livre de risques, plan d’audit

Approach Regarding a Framework for Risk Reporting in Order to Enhance the Related Good Practices

The nowadays accounting information user profile became more sophisticated and the financial reports face new challenges in accomplishing process to meet users’ needs. The purpose of financial reports is to provide useful information to users. According to International Accounting Standards Board, the utility of information is defined through the qualitative characteristics (fundamental and enhancing). The financial crisis emphasized the limits of financial reporting who has been unable to prevent investors about the risks they were facing. Some managers expressed reservations about the quality and relevance of corporate reporting, stating that the annual report is no longer a useful tool. Due to the current changes in business environment, managers have been highly motivated to rethink and improve the risk governance philosophy, processes and methodologies. The lack of quality, timely data and adequate systems to capture, report and measure the right information across the organization is a fundamental challenge to implementing and sustaining all aspects of effective risk management. Starting from 80s, the investors became more interested in narratives (Notes to financial statements), than in primary reports (financial position and performance). Our research suggests a framework for risk reporting with the main goal of improving the good practice in risk management field. Also, we will debate the relation between the qualitative characteristics of accounting information, transparency and risk, and explore the possibility of developing some good practices in risk reporting

INDICATORI SPECIFICI DE EFICIENŢĂ ECONOMICĂ A INVESTIŢIILOR ÎN AGRICULTURĂ

Worldwide, the beginning of the millennium has been marked by an economic crisis of major proportions, with impacts in all areas of activity, comparable to that of 1929-1933 (some economists believe that the current crisis was much stronger than that of the previous century and only the ability to respond promptly minimizes the devastating effects). In this context, one of the main modality for an economic revitalization is to increase business efficiency and rational use of resources, particularly in those fields which were not directly related to the global economic crisis. Of these, the crucial place is occupied by agriculture, considered as one of the most important vectors of welfare and economic development. In the context of increasingly limited resources and constantly multiplication and diversification of the requests, efficiency evaluation issues in agriculture, especially for investment processes, is vital to overcome the current situation. The paper aims to analyze the efficiency of agriculture activities, focusing on the investment process. The authors present general indicators to assess the efficiency in agriculture, and specific indicators of investment. Finally, there is a concrete case study of the specific indicators implementation.Pe plan mondial, inceputul de mileniu a fost marcat de o criză economică de mari proporţii, cu efecte în toate domeniile de activitate, comparabilă ca efecte cu cea din 1929-1933 (unii economişti consideră că actuala criză a fost mult mai puternică decât cea din secolul trecut şi numai capacitatea de răspuns prompt a minimizat efectele devastatoare). În acest context, una dintre principalele modalităţi de revitalizare economică o reprezintă creşterea eficienţei activităţii economice şi utilizarea raţională a resurselor, cu precădere în acele domenii de activitate care nu au avut o legătură directă cu criza economică mondială. Dintre acestea, locul determinant este ocupat de agricultură, considerată ca fiind unul din cei mai importanţi vectori ai bunăstării şi dezvoltării economice. În contextul unor resurse din ce în ce mai limitate şi al unor nevoi într-o continuă multiplicare şi diversificare, problematica evaluării eficienţei în agricultură, în special pentru procesele investiţionale din acest domeniu, este vitală pentru depăşirea situaţiei actuale. Lucrarea îşi propune să analizeze problematica eficienţei activităţilor din domeniul agriculturii, cu accent pe procesul investiţional. Autorii prezintă indicatori cu caracter general de evaluare a eficienţei în agricultură, dar şi indicatori specifici procesului investiţional. În final, este prezentat un studiu de caz concret de aplicare în practică a indicatorilor

INTERNAL CONTROL MECHANISMS IN THE CONTEXT OF THE CHALENGE FINANCIAL CRISIS

Prevention and earlier detection of fraudulent financial reporting must start with the entity that prepares financial reports. Thus the first focus of the Sarbannes-Oxley Act’s recommendations is the public company. These recommendations, taken together, will improve a company's overall financial reporting process and increase the likelihood of preventing fraudulent financial reporting and detecting it earlier when it occurs. For some companies, implementing these recommendations will require little or even no change from current practices; for other companies, it will mean adding or improving a recommended practice. Whether it means adding or improving a practice, the benefits justify the costs. The Sarbanes-Oxley Act is a direct response to the recent scandals in the US corporate world. Governance, compliance, risks and internal controls are mounting concerns for almost all organizations. As the numbers of rules, regulations and contractual obligations steadily rise, management is growing more and more concerned about their exposure on day-to-day operational decisions