Supervision of financial reporting through the prism of the regulatory framework and practice in the Republic of Serbia

Suncica Milutinovic, Ivana Medved
2017 Industrija  
The paper presents the research in the field of internal supervision in financial reporting in the private sector of the Republic of Serbia. In the first part of the paper, legal regulations and current international regulations are compared. The aim of this study was to evaluate the achieved level of harmonization between the national and international regulatory framework in the field of financial reporting. The second part of the paper presents the analysis of the effect of the internal
more » ... f the internal supervision in financial reporting on comparability of financial statements in terms of consistent application of the regulatory framework. The study aimed at examining whether internal supervision affects the comparability of financial statements. The methodology of the research that was used in the processing of data obtained through the questionnaire consisted of One-Factor Analysis of Variance, Pearson's correlation coefficient, and Spearman's and Kendall's rank correlation coefficient. The sample included 297 employees working on accounting and/or audit positions of the private sector of the Republic of Serbia. The results showed a (partial) non-compliance of domicile regulations with EU regulations, i.e. that the national regulatory framework is not harmonized with international regulatory framework. In addition, the results indicated that the internal supervision, defined both in domicile and EU regulations, contributes to the comparability of financial statements in terms of consistent application of the regulatory framework. Apstrakt: U radu je izvršeno istraživanje iz oblasti internog nadzora u finansijskom izveštavanju u privatnom sektoru R. Srbije. U prvom delu rada izvršena je komparacija zakonske sa aktuelnom međunarodnom regulativom. Cilj istraživanja je bio da se proceni dostignut nivo harmonizacije nacionalnog sa međunarodnim regulatornim okvirom u oblasti finansijskog izveštavanja. U drugom delu rada istražen je uticaj internog nadzora u finansijskom izveštavanju na uporedivost finansijskih izveštaja u uslovima dosledne primene regulatornog okvira. Cilj istraživanja je bio da se ispita da li interni nadzor utiče na uporedivost finansijskih izveštaja. Metodologija istraživanja koja je korišćena pri obradi podataka dobijenih putem upitnika obuhvatala je jednofaktorsku analizu varijanse, Pirsonov koeficijent linearne korelacije, te Spirmanov i Kendalov koeficijent korelacije ranga. Uzorak je obuhvatao 297 zaposlenih na pozicijama računovodstva i/ili revizije u privatnom sektoru R. Srbije. Rezultati su pokazali da postoji (delimična) neusklađenost domicilne regulative sa regulativom EU, odnosno da nacionalni regulatorni okvir nije harmonizovan sa međunarodnim regulatornim okvirom. Takođe, rezultati su pokazali da interni nadzor, definisan kako u domicilnoj, tako i u regulativi EU, doprinosi uporedivosti finansijskih izveštaja u uslovima dosledne primene regulatornog okvira.
doi:10.5937/industrija45-11653 fatcat:xjo3thbey5fphp57nbushuaphy