Tadija Đukić’s research while affiliated with University of Nis and other places

This article explores the critical roles of forensic accounting and auditing in modern business, focusing on uncovering financial irregularities and promoting transparency. Through a meticulous literature review and analysis, the study emphasizes the significance of these practices. The purpose is to underscore their importance, methodologies, and implications. Methodologically, the article employs a comprehensive literature review and meticulous analysis of real-world applications. It investigates cases of corporate fraud, financial statement analysis, and dispute resolution. Ethical and legal considerations are highlighted, emphasizing the adherence to professional codes and standards. The study reveals that forensic practices are pivotal in detecting financial misconduct, upholding financial transparency, and ensuring accountability. Technological advances, such as data analytics and AI, enhance efficiency and accuracy. The research establishes the need for continuous development and professional education to tackle the evolving financial challenges. In summary, this article highlights the central roles of forensic accounting and auditing in modern business, their methodologies, and ethical considerations. The study underscores their importance in detecting financial fraud, promoting transparency, and fostering trust.

This paper explores the evolving landscape of forensic accounting, particularly in the context of changing financial frauds and the challenges posed by the COVID-19 pandemic. The progression of financial fraud over time, driven by technological advancements and shifting business environments, highlights the necessity for adaptive and innovative approaches to fraud detection and prevention. Advanced methodologies, including data analytics, digital forensics, and artificial intelligence, have empowered forensic accountants to confront increasingly sophisticated fraud schemes. The examination of frauds arising from the pandemic underscores the resilience of fraudsters in exploiting vulnerabilities during crises. This paper underscores the importance of forensic accounting in upholding financial integrity, ethical standards, and business resilience. It calls for continuous research, innovation, and vigilance in the field of forensic accounting to counter emerging fraud schemes and evolving business landscapes.

Ensuring a high level of audit quality is a basic prerequisite for fulfilling its purpose - increasing the credibility of information contained in financial reports and functioning in the public interest. Since the self-regulation of the audit profession has not proven to be a sufficient mechanism for ensuring the quality of audits in the last two decades the need and importance of establishing and effectively functioning public oversight over audits is especially highlighted. The aim of the authors of this paper is to assess the compliance of the institutionalization of public audit oversight in the Republic of Serbia with the relevant European Union regulations and the manner of its functioning. In order to examine the direction of further development of public oversight and, in particular, its impact on audit quality, an analysis of the practice of public oversight in the Republic of Serbia for the last four years was carried out.

The Covid-19 pandemic and the measures introduced to prevent its further spread have undoubtedly led to significant business uncertainties regarding the going concern principle. Not only has the global economy experienced negative effects of the pandemic, but a number of professions as well, including auditing. With their significant responsibility in assessing the going concern, auditors face a number of challenges. The aim of this paper is to point out the need for more extensive consideration of auditors in assessing the going concern, as well as the challenges auditors face in a pandemic and the ways in which they overcome these limitations.

The emergence and development of a unified european market imposes a need for harmonization financial reporting of business entites in the European Union. Directives and Regulations are the basic instruments for harmonization of national regulatory frameworks with aquaris, on the one hand, and for hamozication accounting practices among member countries, as well as those which are claiming membership, on the other. According to the model of financial reporting, the countries of Central and Eastern Europe belong or belonged to the mixed economy model. Our country belongs to the same model. In this paper, we will describe the reaches of certain Central and Eastern Europe economies in harmonization of financial reporting in relation to the current regulations of the European Union. Using comparative analysis, we will point out the essential features of the regulatory frameworks of certain national economises. Positive experiences of these countries in the development of accounting regulations could be applied in our country

The aim of the present study is to examine whether and to what extent internal audit affects performance of companies operating on the territory of the Republic of Serbia. More specifically, it tests differences in business performance of companies with established internal audit system and those without it, and the extent to which their performance is affected by this function. Empirical research focuses on a sample of 113 companies. Research results indicate that companies with established internal audit function achieve greater business performance over the two comparative years, compared to those companies in which the function has not been established. Also, research indicates that the achieved performance is affected by the achieved level of internal audit effectiveness.

The aim of this paper is to highlight the issue of independence and objectivity of internal auditors, which, given the place and role of internal audit in the system of corporate governance, is increasingly gaining in importance. In determining these concepts, the difference between them is pointed out, with particular emphasis their importance for internal audit effectiveness. By introducing circumstances in which internal audit functions, the paper especially emphasizes the challenges that internal auditors face in achieving independence and objectivity in their work. In this process, they receive significant support from regulatory decisions regarding the position of internal audit in companies, and especially directions to invest efforts and eliminate all factors that threaten to undermine their independence and objectivity.

eнo oдгoвoрнo пoслoвaњe прeдстaвљa кoнцeпт кojим прeдузeћa свe-снo нaдилaзe свojу oснoвну функциjу и пoзитивнo утичу нa прирoднo, друштвe-нo и рaднo oкружeњe. Tрaдициoнaлни систeм финaнсиjскoг извeштaвaњa ниje у мoгућнoсти дa у дoвoљнoj мeри oдгoвoри нa инфoрмaциoнe зaхтeвe стejкхoлдe-рa, измeђу oстaлих и oнe кojи сe тичу инфoрмaциja o друштвeнo oдгoвoрнoм пo-слoвaњу. Из тoг рaзлoгa, jaвилe су сe брojнe инициjaтивe зa дoпунoм трaдици-oнaлних финaнсиjских извeштaja, aли и oнe кoje нудe пoтпунo нoвa рeшeњa у виду нoвих извeштaja и кoнцeптуaлних oквирa. У рaду ћeмo гoвoрити o пoтрeби зa извeштaвaњeм o друштвeнo oдгoвoрнoм пoслoвaњу и прeдстaвити двe инициjaтивe кoje сe издвajajу, a иду у прaвцу пoтпуниjeг извeштaвaњa o пoслoвaњу прeдузeћa. To су: Инициjaтивa зa интe-грисaним извeштaвaњeм и Инициjaтивa зa извeштaвaњeм o oдрживoсти. При-кaзaћeмo истoриjу oвих инициjaтивa и нaчин нa кojи oне прeдлaжу унaпрeђeњe систeмa извeштaвaњa. Кључнe рeчи: финaнсиjскo извeштaвaњe, друштвeнo oдгoвoрнo пoслoвaњe, интeгрисaнo извeтшaвaњe, извeштaвaњe o oдрживoсти, стejкхoлдeри. a Рад је резултат научно-истраживачког рада у оквиру пројекта III 47023 "Косово и Метохија између националног идентитета и евроинтеграција" који финансира Министарство просвете, науке и технолошког развоја Републике Србије.

Quality of financial reporting is the precondition for the effective functioning of capital market due to the globalization of business. In the countries of Eastern and Central Europe, during the period of socialism, accounting and preparation of annual accounts was adapted for needs of planned economy. Today, it is necessary to work on harmonization national with international legislation. Also, they need to promote a culture of financial reporting, because economic entities do not understand the essential role and importance of financial reporting for business potential. In this paper, we consider Slovenia’s, Macedonia’s and Serbia’s normative framework of financial reporting system, in order to give the assessment of the current situation and pointed out the possible directions of improvement of this process. The comparative analysis of legal and professional solutions, which regulates financal reporting system in these countries, we learned some inconsistencies of their legislation in relation to international regulations, especially in the part of financial reporting for small and micro entreprises. In Serbia and Macedonia, perceived insufficient engagement of of professional organizations and bodies, which requires the reaction of the country in terms of defining and monitoring the implementation of regulations governing the conditions and responsibility for performing accounting and auditing work. This would allow business entities to access financial sources under favourable terms, raising their competitive advantages to quality financial information within financial reports, as well as further development of entrepreneurial activity, which is the generator of the most developed economies in the world.

High quality financial statements should truly and objectively reveal the financial position, business results and changes of a business entity. Satisfied users of financial statements according to which they make decisions represent the best confirmation of high quality financial reporting. The paper deals with the conceptual framework of financial reporting and with an attempt to create unified and revised conceptual framework as a joint project by FASB and IASB. Moreover, it considers novelties that the framework brings. Also, the paper points to the current state in terms of financial reporting quality in the Republic of Serbia. Furthermore, the paper points to some shortcomings of accounting regulation at the national level as a prerequisite of high quality reporting. Finally, the authors propose certain measures and activities for enhancing financial reporting quality in the current economic and political conditions in the Republic of Serbia.