Audit Financiar最新文献

{"title":"From Non-Financial Disclosure to Sustainability Reporting: New Challenge for Financial Analysts and Auditors","authors":"Maria Niculescu, A. Burlaud","doi":"10.20869/auditf/2023/172/022","DOIUrl":"https://doi.org/10.20869/auditf/2023/172/022","url":null,"abstract":"In the context of recurrent ecological and societal crises, the European institutions are committed to fostering sustainable development that meets the needs of present and future generations, while providing new opportunities for employment, investment and economic growth. These commitments are the guiding principle of European policies and strategies in terms of financing sustainable growth, green transition, and building an economy at the service of citizens. They have been gradually transposed into a large number of European regulations, including those related to sustainability disclosure by certain categories of economic and financial actors. The significance of the paradigm shift fuels the reflection on the relationship between these new regulations and the social reality, in which and upon which they must act. The new regulations referring to are especially: Regulation (EU) 2019/2088 of the European Parliament and of the Council on sustainability‐related disclosures in the financial services; Regulation (EU) 2020/852 of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (Taxonomy Regulation); Directive (EU) 2022/2464 of the European Parliament and of the Council amending Regulation (EU) No 537/2014, Directive 2004/109/EC, Directive 2006/43/EC and Directive 2013/34/EU, as regards corporate sustainability reporting. As part of the European and international sustainability concerns, this article is a reflection paper on the developments, notably conceptual, axiological and substantive, generated by the Directive (EU) 2022/2464, and their translation into legal and practical innovations. Based on an extensive review of the relevant literature and European legislation, as well as on content analysis and secondary analysis of numerous scientific studies in the field, authors’ contribution focuses on the meaning and implications of the switch from 'non-financial information' to 'sustainability information', as well as on the new relationship between the law and the social reality created by Directive (EU) 2022/2464. The authors assume that such clarifications are a prerequisite for the successful transformation of certain professions significantly affected by this Directive, including those of financial analysts and auditors. This requires, at the same time, upstream changes of university curricula and continuing education in this area, as well as in research programs.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":"33 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139244785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate Reporting Quality in Light of the New Sustainability Standards. Content Analysis Based on Environmental, Social, and Governance Factors","authors":"Paul-Gheorghe Băhnean, O. Bunget, A. Dumitrescu","doi":"10.20869/auditf/2023/172/024","DOIUrl":"https://doi.org/10.20869/auditf/2023/172/024","url":null,"abstract":"In recent decades, more and more researchers and practitioners have expressed their interest in sustainable development and sustainability. Since it was introduced in 1987, the concept of sustainable development has been treated by the United Nations in various ways, which are of reference not only to countries but also to companies. However, a clear understanding of how organizations should address sustainability is still missing, despite all efforts to encourage companies to improve their triple balance sheet. Today, sustainability reporting has become a common practice among the world’s leading companies as individuals are increasingly taking environmental, social, and governance (ESG) factors into account in their investment decisions. Nevertheless, adapting to a business environment where responsible investment becomes the rule poses several challenges to organizations. Even though transparency and non-financial reporting are gradually gaining ground and receiving more and more attention in Europe, there is still considerable emphasis on financial reporting in the eastern part of the continent. Consequently, in this paper, the authors are looking to identify how several selected companies listed on BVB (Bucharest Stock Exchange) (from different industries) take into account ESG values. They achieved their goal by conducting a content benchmark analysis, which emphasized the similarities and differences between the reports of the companies included in the analysis, issued over different periods. Last but not least, there were highlighted the standards and the non-financial reporting tools considered in the analysis carried out.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":"38 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139243115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Sustainability of Business Models in Case of BSE Listed Firms","authors":"O. Bunget, A. Dumitrescu, Valentin Burca, Oana Bogdan","doi":"10.20869/auditf/2023/171/021","DOIUrl":"https://doi.org/10.20869/auditf/2023/171/021","url":null,"abstract":"The depletion of natural resources and increased pollution represent an important problem that can greatly influence both the well-being of society and the security of its future. In this context, the concept of long-term and sustainable development is given even greater importance, through regulations that include in their scope more and more companies in which to implement and develop sustainable business models. The objective of this research is to illustrate the current practice regarding sustainability reporting, from the perspective of the most frequently approached themes regarding sustainable corporate growth. In the second plan, it is desired to outline an overview of the set of key words representative for the description of the sustainability aspects presented by the analyzed companies, which will thus contribute to increasing the degree of understanding of the concept, from the perspective of the many fundamental aspects captured. The analysis undertaken in the study is carried out at the level of a sample of companies listed on the Bucharest Stock Exchange (BSE) that are part of the BSE-NG index, specific to the energy and utilities sector. The basis of the research consists of 32 sustainability reports, analyzed between 2016-2022. The results of the undertaken study highlight the need for a more coherent and robust framework of non-financial reporting because in the analyzed reports a variety of topics are addressed, but presented unclearly, without making an exact delimitation between the main topics covered, considering the low level of the exclusivity indicator. The main reason is the way the content of the reports is structured, which addresses common issues in sections designed to approach specific topics. Also, the results highlight the fact that sustainability reports focus most of the time on the environmental aspects of the sustainable growth model, followed by the aspects regarding the alignment with the trends related to the innovative development, through the development and implementation of innovative solutions regarding the supply chain management.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48515266","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Aspects Regarding the Influence of Recent Crises on the Performance of Tourism Companies - Empirical Evidence","authors":"M. Neacsu, Diana E. David","doi":"10.20869/auditf/2023/171/018","DOIUrl":"https://doi.org/10.20869/auditf/2023/171/018","url":null,"abstract":"The COVID-19 pandemic has triggered an economic crisis with a global impact, affecting entities from many fields of activity, but particularly those from the production, transport, tourism, technological services sectors (Donthu & Gustafsson, 2020). Most countries have responded to this pandemic with travel bans, restrictions, and a series of health regulations aimed at managing the pandemic situation (Jones & Nguyen, 2021). The study aims to explore how and to what extent the capital structure and other financial characteristics of tourism organizations (one of the most affected sectors) influenced their financial performance during the 2007- 2008 global financial crisis and the COVID-19 pandemic. In this sense, a sample represented by 15 organizations in the field of tourism, listed on the Bucharest Stock Exchange (BSE), was subjected to analysis, the analysis period being 2007-2021. Ten independent variables were included in the study (cash ratio, current ratio, financial stability coefficient, debt-to-assets ratio, degree of coverage, total assets turnover, current assets turnover, accounts receivables turnover, cost to income ratio, and gross profit margin) from 2007-2021, for the evaluation of the capital structure and other financial characteristics of tourism organizations. After processing the data, it was found that the financial performance of organizations in the field of tourism is significantly influenced by the indicators of total asset turnover, debt-to-assets ratio, cash ratio, and financial stability coefficient.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48458618","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Implications of Integrating SAF-T into an ERP System","authors":"Casiana Maria Darie, B. Ionescu, Viorica Braga","doi":"10.20869/auditf/2023/171/017","DOIUrl":"https://doi.org/10.20869/auditf/2023/171/017","url":null,"abstract":"The integration of SAF-T (Standard Audit File for Tax) into an ERP system helps companies improve their tax operations by simplifying tax reporting, increasing operational efficiency, legal compliance and data quality. In addition, SAF-T integration can help companies optimize their processes and correct their workflow, leading to greater efficiency and better data visibility. It is important for all companies to ensure that the accounting system they use is compatible with the SAF-T format and that the implementation is done correctly. Therefore, the long-term benefits may outweigh the costs and risks involved, as evidenced by the data collected using the questionnaire. The purpose of this research is to provide a good understanding of the implications associated with the integration of SAF-T into an ERP system, so that companies can make informed decisions about the implementation of this solution. The questionnaire conducted on a number of significant respondents led to the achievement of the set objective. Concurrently, the advantages and disadvantages observed for all involved parties were pursued: companies, suppliers, and tax administrations, thus outlining a clear picture of the requirements to which taxpayers must respond from the beginning of year 2022.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41922612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impact of Company Size Indicators on the Audit Fee","authors":"O. Bunget, C. Lungu","doi":"10.20869/auditf/2023/171/015","DOIUrl":"https://doi.org/10.20869/auditf/2023/171/015","url":null,"abstract":"Audit fees are among some of the most important concerns of audit firms, financial/statutory audit regulators and academia. The objective of this paper is to analyze and evaluate the impact of company size indicators on the formation of audit fees. Based on the data available in the “Audit Analytics” database, a sample of 27 companies listed on the Bucharest Stock Exchange was selected, for which 524 observations were reported, representing the indicators “Audit Fee”, “Total Assets” and “Turnover” during 2017-2021. From the research carried out, it emerged that the turnover and total assets size indicators have a significant and positive influence on the financial audit fee. In addition, the findings indicate that “the market capitalization” indicator is not a predictive and causal variable of the value of the financial audit service.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43929087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Quantitative Analysis on the Impact of Artificial Intelligence Solutions in Accounting and Audit","authors":"M. Mihai","doi":"10.20869/auditf/2023/171/016","DOIUrl":"https://doi.org/10.20869/auditf/2023/171/016","url":null,"abstract":"The purpose of this article is to highlight the role of technological, organizational and environmental contexts in the case of the implementation of Artificial Intelligence in the financial sector. As a methodology, the author used statistical tests applied to primary data collected by means of a questionnaire in the form of an online survey with firms that have accounting, financial audit and tax consulting activities. For the study, based on the analysis of specialized literature, seven corresponding hypotheses were developed for three research questions based for the purpose to find out if the implementation of solutions based on Artificial Intelligence is influenced by the technological, organizational and environmental context (TOE Framework, for short). The TOE Framework elements used in this paper are: technological readiness, IT infrastructure, relative advantage, organizational readiness, top management support, industry characteristics, and government regulations. The result of the study shows that artificial intelligence in the field of financial services is significantly influenced by: IT infrastructure, top management support, industrial characteristics, government regulations. The primary data used were collected from large accounting companies and Romanian SMEs.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48235165","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Embedding the Sustainability Development Goals in Universities","authors":"L. Dumitraşcu","doi":"10.20869/auditf/2023/171/020","DOIUrl":"https://doi.org/10.20869/auditf/2023/171/020","url":null,"abstract":"Universities are playing an important role in achieving a sustainable future. Issues related to sustainable development and the implementation of the United Nations Sustainable Development Goals (UN SDGs) by 2030 are very important for universities now, receiving significant importance and attention in practice. Within the current research paper a qualitative methodology was used to explore the way universities integrate SDGs into their activity. The paper presents also the findings from international research and practices on how to achieve and implement the United Nations Sustainable Development Goals (UN SDGs) into the university curriculum. The results reveal that many actions are taken for acquiring the comprehensive understanding of the Sustainable Development Goals (SDGs) in a university context. This research is useful for professors, students, and businesses. The research contributes to the business education by exploring how Sustainable Development Goals (SDGs) could be implemented in universities in a modality that ensures students’ engagement and motivation in addressing social, economic, and environmental concerns.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44162790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Cryptoassets – Perspectives of Accountancy Recognition in the Technological Era","authors":"O. Bunget, G. Trifa","doi":"10.20869/auditf/2023/171/019","DOIUrl":"https://doi.org/10.20869/auditf/2023/171/019","url":null,"abstract":"The growth of the cryptoassets phenomena, along with the lack of applicable accounting rules, offers difficult issues for financial reporting specialists in Romania. Therefore, handling the accounting of cryptoassets requires a detailed understanding of both cryptoassets technology and operation, as well as key accounting concepts. In the absence of steps made to control this sort of transactions through accounting standards, holders of cryptoassets are unable to apply the proper accounting treatment for the activity in which they are involved. The regulatory international framework for cryptoassets needs to be consistent and standards should be developed to safeguard holders. The European Economic and Social Committee believes it is important to treat non-financial products based on blockchain technology as physical assets, and not as financial instruments, following the principle of \"same activity, same risk, same rules\". Others, argue that digital currencies should be recorded as: cash equivalents or cash, inventories, financial or intangible assets. As a result, the purpose of this article is to overview the accounting treatment perspectives given by the IFRS in comparison with the Order of the minister of public finance no.1802/2014 regarding the possible treatments of cryptoassets. Furthermore, the authors believe this article can contribute to accounting research by providing a direction to accounting regulators. Based on the review of specialised literature, existing standards and legislation, the paper indicates that the relevant accounting approaches to cryptoassets are as intangible assets, stock or fixed assets held for sale. However, they could also be seen as means of payment, like foreign currency, even if they do not meet the characteristics of cash. The perspectives on the taxation of cryptoassets are provided by analysing the types of taxes and the VAT regime applicable to cryptoassets, according to the Romanian Fiscal Code, the existing ANAF rules and the VAT Directive at European level. At the same time, the authors analysed and presented certain statistical data, such as the market capitalisation of cryptoassets, the degree of acceptance and the usage degree of cryptocurrencies worldwide, which show that there is a tendency to increase their use.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47778683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Assessing the Importance of an ERP in the Budgetary Process and Achieving Performance – Bibliometric Analysis","authors":"Casiana Maria Darie","doi":"10.20869/auditf/2023/170/009","DOIUrl":"https://doi.org/10.20869/auditf/2023/170/009","url":null,"abstract":"The purpose of this research is to emphasize that ERP systems are relevant tools in the budgetary process and lead to improved performance of organizations. To achieve it, a bibliometric analysis of the articles published in the period 2018-2022 in the Scopus database was made based on the terms: budget, performance, management, ERP. Achieving performance in the activity of a company involves setting goals. Budgets, by translating these objectives into figures related to resource consumption and achieving results, become tools for measuring performance. The creation of an efficient budgetary system in close connection with the forecasts of the organizations for the medium and long term represents the key to a profitable economic activity through which the right path towards the achievement of the proposed objectives can be followed and the possible deviations can be detected in time. A special role in all stages of the budgetary process is played by the ERP system used in that entity.","PeriodicalId":30958,"journal":{"name":"Audit Financiar","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45406692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}