The Effect of Public Finance Control on the Improvement of Work of Internal Auditors in Enterprises Founded by the Local Self-government Units on the Example of the Republic of Serbia

2021 ◽  
Vol 19 (2) ◽  
pp. 245-261
Author(s):  
Jelena Vitomir ◽  
Milan Radović ◽  
Slobodan Popović
Keyword(s):  
Public Finance ◽  
Internal Audit ◽  
Public Utility ◽  
Strong Impact ◽  
Public Enterprises ◽  
Internal Auditors ◽  
Before And After ◽  
The Republic ◽  
Finance Control ◽  
Set Up

This study shows the importance of introducing control over the work of internal auditors in public enterprises. The aim of the study is to indicate possible benefits in the operations of public enterprises following the control conducted over the work of internal audit by public finance bodies. To reach their aim, the authors conducted a research and determined the existence of differences in the efficiency of operations in public utility enterprises with internal audit in place before and after the control conducted by public finance bodies. The obtained results show there is a strong impact of the control performed by the public finance bodies set up to supervise the work of internal auditors in public enterprises on the operating results expressed as total revenues of public enterprises.

External Auditors' Involvement in the Internal Audit Function's Work Plan and Subsequent Reliance Before and After a Negative Audit Discovery

2016 ◽  
Vol 35 (4) ◽  
pp. 159-173 ◽  
Author(s):  
Byron J. Pike ◽  
Lawrence Chui ◽  
Kasey A. Martin ◽  
Renee M. Olvera
Keyword(s):  
Internal Control ◽  
Internal Audit ◽  
Internal Controls ◽  
Professional Standards ◽  
Data Availability ◽  
Internal Auditors ◽  
External Auditors ◽  
Internal Audit Function ◽  
Anchoring Bias ◽  
Before And After

SUMMARY To reduce redundancies and increase efficiency in the evaluation of internal controls (PCAOB 2007, 402–403), professional standards encourage coordination between external auditors and their clients' internal audit function (IAF). Recent surveys of internal auditors find that a component of this coordination is external auditors' involvement in developing the IAF's audit plans. Nevertheless, it is not known how such involvement affects external auditors' reliance on the internal control test work of the IAF, either before or after a negative audit discovery. Based on an experiment with 107 experienced auditors, we find that external auditors involved in the development of the IAF's audit plan perceive the IAF as more objective and that both objectivity and involvement contribute to these auditors' placing more reliance on the IAF as compared to external auditors with no involvement. This initial reliance results in the involved auditors' proposing reductions to the audit budget and re-performing less of the IAF's work. Consistent with an anchoring bias, we find that involvement leads to external auditors' continuing to place greater reliance on the IAF's work, even after they become aware of a negative audit discovery that should not have occurred had the client's controls been effective. Data Availability: Data are available from the authors on request.

scholarly journals The Role of Internal Audit as a Starting Point for the Discovery of Irregularities in the Financial Statements of Public Companies in Kosovo

2017 ◽  
Vol 7 (1) ◽  
pp. 153 ◽  
Author(s):  
Hysen Ismajli ◽  
Muhamet Aliu ◽  
Arben Sahiti ◽  
Lumbardha Lutolli
Keyword(s):  
Internal Audit ◽  
Financial Statements ◽  
Likert Scale ◽  
Public Enterprises ◽  
Financial Reports ◽  
Public Companies ◽  
Starting Point ◽  
Spss Software ◽  
The Republic

The main purpose of this paper is to verify whether the internal audit affects the detection of anomalies and fraud in the financial statements of public companies in Kosovo. To achieve this purpose, we have prepared a questionnaire and distributed to public enterprises in the Republic of Kosovo. The questionnaire includes open and closed questions in the form of Likert scale established to asess proposition and oposition of the participants. Responses were analyzed through SPSS software, and hypotheses were tested by analyzing the correlation. Based on results we can conclude that the role of internal audit can serve as a starting point in finding fraud and errors in financial reports.

scholarly journals PROBLEMS AND PROSPECTS FOR THE DEVELOPMENT OF THE INTERNAL STATE AUDIT IN UKRAINE

2020 ◽  
Vol 1(13) ◽  
pp. 212-221
Author(s):  
Yuliia Slobodianyk ◽  
◽  
Olha Halas ◽  
Keyword(s):  
Public Finance ◽  
Systematic Approach ◽  
Internal State ◽  
Internal Audit ◽  
External Control ◽  
Financial Control ◽  
Intensive Training ◽  
Tier System ◽  
State Audit ◽  
Finance Control

As a result of the reforms carried out in previous years, a two-tier system of public finance control was created in Ukraine, consisting of an external independent audit and state internal financial control. Recent changes in the current legislation and the announced plan for further transformations in the field of public finance control require analysis of the effectiveness of previous reforms and the appropriateness of changing the development vector of the relevant state institutions. The aim of the article is a retrospective analysis of the effectiveness of the implementation of the internal state audit function in Ukraine, the identification of problems and prospects for its development based on a systematic approach. The analysis of regulatory acts in the field of public finance control proves that the subsystem of state internal financial control is developing much more actively than the subsystem of external control. In the absence of a single concept for the development of these subsystems, a certain inconsistency of their functioning has been observed. The main achievements in the implementation of reforms in the government sector, carried out with the support of various international organizations, have been characterized. It has been determined that despite a long period of development of organizational and methodological support for the functioning of internal audit units in the public sector, as well as intensive training of employees, the State Audit Service of Ukraine continues to record financial irregularities, the list and amount of which remain unchanged from year to year. It has been substantiated that the described situation bears signs of inconsistency of the efforts made with the actual results of the reform in the internal state audit sphere. The main reasons are the following: low salaries of employees of internal audit units that do not meet the necessary professional competencies and experience; widespread violation of the independence principle of internal state auditors, negatively affecting their ability to perform significant tasks; lack of accessible training and advanced training combining theoretical knowledge and practical cases. The practical significance of the study is to determine the prospects for the further development of the internal state audit function, to ensure the effectiveness of which a systematic approach should be applied. Серія Економіка. Випуск 1(13) 221 Keywords: internal state audit, external state audit, public finance control system, reforms, efficiency, Accounts Chamber, Office of Financial Control.

Evaluation of Freezing Methods by Low Temperature X-Ray Diffraction

1977 ◽  
Vol 35 ◽  
pp. 330-333
Author(s):  
T. Gulik-Krzywicki ◽  
M.J. Costello
Keyword(s):  
Biological Materials ◽  
Molecular Organization ◽  
X Ray Diffraction ◽  
Glass Capillary ◽  
X Ray ◽  
Rate Dependent ◽  
Before And After ◽  
Freeze Etching ◽  
Diffraction Patterns ◽  
Set Up

Freeze-etching electron microscopy is currently one of the best methods for studying molecular organization of biological materials. Its application, however, is still limited by our imprecise knowledge about the perturbations of the original organization which may occur during quenching and fracturing of the samples and during the replication of fractured surfaces. Although it is well known that the preservation of the molecular organization of biological materials is critically dependent on the rate of freezing of the samples, little information is presently available concerning the nature and the extent of freezing-rate dependent perturbations of the original organizations. In order to obtain this information, we have developed a method based on the comparison of x-ray diffraction patterns of samples before and after freezing, prior to fracturing and replication.Our experimental set-up is shown in Fig. 1. The sample to be quenched is placed on its holder which is then mounted on a small metal holder (O) fixed on a glass capillary (p), whose position is controlled by a micromanipulator.

Does Incentive-Based Compensation for Chief Internal Auditors Impact Objectivity? An External Audit Risk Perspective

2016 ◽  
Vol 36 (2) ◽  
pp. 21-43 ◽  
Author(s):  
Lucy Huajing Chen ◽  
Hyeesoo H. (Sally) Chung ◽  
Gary F. Peters ◽  
Jinyoung P. (Jeannie) Wynn
Keyword(s):  
Financial Reporting ◽  
Internal Audit ◽  
Positive Association ◽  
Audit Fees ◽  
Data Availability ◽  
Company Performance ◽  
Potential Threat ◽  
External Audit ◽  
Internal Auditors ◽  
Survey Responses

SUMMARY This paper considers the potential impact of internal audit incentive-based compensation (IBC) linked to company performance on the external auditor's assessment of internal audit objectivity. We posit that external auditors will view IBC as a potential threat to internal audit objectivity, thus reducing the extent of reliance on the work of internal auditors and increasing the assessment of control risk. The increase in risk and external auditor effort should result in higher audit fees. We hypothesize that the form of incentive-based compensation, namely stock-based versus cash bonuses, moderates the association between IBC and external audit fee. Finally, we consider whether underlying financial reporting risk mitigates the external auditor's potential sensitivity to IBC. We find a positive association between external audit fees and internal audit compensation based upon company performance. The association is acute to IBC paid in stock or stock options as opposed to cash bonuses. We also find evidence consistent with the IBC associations being mitigated by the company's financial reporting risks. Data Availability: Individual survey responses are confidential. All other data are derived from publicly available sources.

scholarly journals Effect of Integrated Neuromuscular Exercise in Physical Education Class on Health-Related Fitness in Female Children

Healthcare ◽  
2021 ◽  
Vol 9 (3) ◽  
pp. 312
Author(s):  
Marijana Sinđić ◽  
Draženka Mačak ◽  
Nikola Todorović ◽  
Bianka Purda ◽  
Maja Batez
Keyword(s):  
Physical Education ◽  
Muscular Fitness ◽  
Female Children ◽  
Before And After ◽  
Health Related ◽  
The Republic ◽  
Almost All ◽  
And Control ◽  
Cardiorespiratory Endurance ◽  
Health Related Fitness

Integrated neuromuscular training (INT) showed benefits for improving fundamental movement skills (FMS). However, the INT health-related fitness (HRF) effects are lacking. The current study aimed to determine the effects of INT implemented during physical education (PE) in a primary school in the Republic of Serbia on HRF in female children. The sample consisted of 72 healthy girls who were divided into the intervention (EG: n = 37; mean ± SD: age = 8.17 ± 0.31) and control (CG: n = 35; age = 8.11 ± 0.31) groups. The EG and CG performed the INT program and traditional PE activities two times per week within the first ~15 min of PE class, respectively. The Fitnessgram battery tests assessed the HRF (body composition, cardiorespiratory endurance, muscular fitness, and flexibility) before and after the program. After eight weeks, the EG significantly reduced all fat measures, while the CG decreased only triceps skinfold but to a smaller extent (F = 5.92, p < 0.02, ŋ2 = 0.09). Both groups significantly improved the performance of almost all muscular fitness tests (curl-ups, trunk lift, push-ups); however, the EG increased the push-ups more than the CG (F = 9.01, p < 0.01, ŋ2 = 0.14). The EG additionally improved the modified pull-ups (F = 14.09, p < 0.01, ŋ2 = 0.19) and flexed arm hang (F = 28.82, p < 0.01, ŋ2 = 0.33) tests. The flexibility and cardiorespiratory endurance of both groups did not significantly change after eight weeks. This approach of exercise showed positive acceptance and relatively good results after only eight weeks.

Research on pull-type multi-AGV system dynamic path optimization based on time window

2021 ◽  
pp. 095440702098271
Author(s):  
Hongying Shan ◽  
Chuang Wang ◽  
Cungang Zou ◽  
Mengyao Qin
Keyword(s):  
Path Planning ◽  
Time Window ◽  
Planning Problem ◽  
Dijkstra Algorithm ◽  
Before And After ◽  
Common Planning ◽  
Planning Algorithm ◽  
Dynamic Path ◽  
Set Up ◽  
Path Planning Algorithm

This paper is a study of the dynamic path planning problem of the pull-type multiple Automated Guided Vehicle (multi-AGV) complex system. First, based on research status at home and abroad, the conflict types, common planning algorithms, and task scheduling methods of different AGV complex systems are compared and analyzed. After comparing the different algorithms, the Dijkstra algorithm was selected as the path planning algorithm. Secondly, a mathematical model is set up for the shortest path of the total driving path, and a general algorithm for multi-AGV collision-free path planning based on a time window is proposed. After a thorough study of the shortcomings of traditional single-car planning and conflict resolution algorithms, a time window improvement algorithm for the planning path and the solution of the path conflict covariance is established. Experiments on VC++ software showed that the improved algorithm reduces the time of path planning and improves the punctual delivery rate of tasks. Finally, the algorithm is applied to material distribution in the OSIS workshop of a C enterprise company. It can be determined that the method is feasible in the actual production and has a certain application value by the improvement of the data before and after the comparison.

scholarly journals Wear and Friction Characteristics of 65Mn Steel for Spike-Tooth Harrow

Coatings ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. 319
Author(s):  
Zhiguo Lu ◽  
Chuanyu Du ◽  
Qingcai Chen ◽  
Tianying Niu ◽  
Na Wang ◽  
...  
Keyword(s):  
Friction And Wear ◽  
Working Environment ◽  
Manganese Steel ◽  
Wear Loss ◽  
Variable Parameters ◽  
Wear Characteristics ◽  
Before And After ◽  
Set Up ◽  
Worn Surface ◽  
Friction And Wear Characteristics

The friction and wear characteristics of spike-tooth material (65Mn steel) of Spike-Tooth Harrow in a two-stage peanut harvester were studied in this paper. The friction and wear tests of pin and disc on 65 manganese steel were carried out on the tribometer, then the wear loss and the friction coefficient were studied. The wear loss of the pin was acquired by calculating the mass of the pin before and after the experiment using an electronic balance. According to the actual working environment of peanut spring-finger, four variable parameters are set up: load, speed, soil moisture and soil type. The friction and wear characteristics of pins were studied under different loads, speeds and different soil environments. After wearing, the worn surface of the material was observed by scanning microscope and the wear mechanism was studied. The experimental results show that the wear of the pin increases with the increase of load and decreases with the increase of rotational speed in the same rotation number. Especially in the case of the sandy soil with 20% in moisture, a maximum wear loss of the pin is achieved.

scholarly journals Innovative passive reinforcements for the gradual stabilization of a landslide according with the observational method

Landslides ◽  
2021 ◽  
Author(s):  
Lorenzo Brezzi ◽  
Alberto Bisson ◽  
Davide Pasa ◽  
Simonetta Cola
Keyword(s):  
Monitoring System ◽  
Low Cost ◽  
Economic Losses ◽  
Fe Model ◽  
Site Conditions ◽  
Observational Method ◽  
Rainy Period ◽  
Sustainable Solutions ◽  
Before And After ◽  
Set Up

AbstractA large number of landslides occur in North-Eastern Italy during every rainy period due to the particular hydrogeological conditions of this area. Even if there are no casualties, the economic losses are often significant, and municipalities frequently do not have sufficient financial resources to repair the damage and stabilize all the unstable slopes. In this regard, the research for more economically sustainable solutions is a crucial challenge. Floating composite anchors are an innovative and low-cost technique set up for slope stabilization: it consists in the use of passive sub-horizontal reinforcements, obtained by coupling a traditional self-drilling bar with some tendons cemented inside it. This work concerns the application of this technique according to the observational method described within the Italian and European technical codes and mainly recommended for the design of geotechnical works, especially when performed in highly uncertain site conditions. The observational method prescribes designing an intervention and, at the same time, using a monitoring system in order to correct and adapt the project during realization of the works on the basis of new data acquired while on site. The case study is the landslide of Cischele, a medium landslide which occurred in 2010 after an exceptional heavy rainy period. In 2015, some floating composite anchors were installed to slow down the movement, even if, due to a limited budget, they were not enough to ensure the complete stabilization of the slope. Thanks to a monitoring system installed in the meantime, it is now possible to have a comparison between the site conditions before and after the intervention. This allows the evaluation of benefits achieved with the reinforcements and, at the same time, the assessment of additional improvements. Two stabilization scenarios are studied through an FE model: the first includes the stabilization system built in 2015, while the second evaluates a new solution proposed to further increase the slope stability.

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