Analysis of auditor`s reports and bankruptcy risk in banking sector in the Republic of Serbia
This paper aims to point out the significance of external audit and auditor’s reports. The stability of banks and its operations are vital not only for efficient financial system functioning, but also for overall industry. The banking sector, both in developed and undeveloped countries, experienc...
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| Format: | Article |
| Language: | English |
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Editura ASE
2013-06-01
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| Series: | Amfiteatru Economic |
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| Online Access: | http://www.amfiteatrueconomic.ro/ArticolEN.aspx?CodArticol=1211 |
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| author | Milovan Stanisic Danka Stefanovic Nada Arezina Vule Mizdrakovic |
| author_facet | Milovan Stanisic Danka Stefanovic Nada Arezina Vule Mizdrakovic |
| author_sort | Milovan Stanisic |
| collection | DOAJ |
| description | This paper aims to point out the significance of external audit and auditor’s reports. The
stability of banks and its operations are vital not only for efficient financial system
functioning, but also for overall industry. The banking sector, both in developed and
undeveloped countries, experienced financial crisis in the last few years. Considering these
circumstances and the fact that demands of financial statements users grow in complexity,
their control is essential. We provide the empirical evidence on the banking sector auditor’s
reports in the Republic of Serbia, with particular reference to auditor’s opinions and audit
agencies that had conducted banks audits. The review of the audit legislation and
professional standards will be presented, as well as the notion of bankruptcy risk and its
relevance for baking sector. Our research results indicate that special attention should be
paid to banks which auditor’s report had some explanatory paragraphs or even
qualification. In conclusion we highlight the red flags that may damage banks operations
and emphasize the importance of keeping the high level of auditor’s independence with the
intention to provide confidence to stakeholders who form their decisions based on their
reports. |
| format | Article |
| id | doaj-art-86309b6da4814c5bae88f76eb1b8fca6 |
| institution | DOAJ |
| issn | 1582-9146 2247-9104 |
| language | English |
| publishDate | 2013-06-01 |
| publisher | Editura ASE |
| record_format | Article |
| series | Amfiteatru Economic |
| spelling | doaj-art-86309b6da4814c5bae88f76eb1b8fca62025-08-20T03:07:10ZengEditura ASEAmfiteatru Economic1582-91462247-91042013-06-011534431441Analysis of auditor`s reports and bankruptcy risk in banking sector in the Republic of SerbiaMilovan Stanisic0Danka Stefanovic1Nada Arezina2Vule Mizdrakovic 3Singidunum University, Department for Business Economics, Belgrade, SerbiaSingidunum University, Department for Business Economics, Belgrade, SerbiaSingidunum University, Department for Business Economics, Belgrade, SerbiaSingidunum University, Department for Business Economics, Belgrade, SerbiaThis paper aims to point out the significance of external audit and auditor’s reports. The stability of banks and its operations are vital not only for efficient financial system functioning, but also for overall industry. The banking sector, both in developed and undeveloped countries, experienced financial crisis in the last few years. Considering these circumstances and the fact that demands of financial statements users grow in complexity, their control is essential. We provide the empirical evidence on the banking sector auditor’s reports in the Republic of Serbia, with particular reference to auditor’s opinions and audit agencies that had conducted banks audits. The review of the audit legislation and professional standards will be presented, as well as the notion of bankruptcy risk and its relevance for baking sector. Our research results indicate that special attention should be paid to banks which auditor’s report had some explanatory paragraphs or even qualification. In conclusion we highlight the red flags that may damage banks operations and emphasize the importance of keeping the high level of auditor’s independence with the intention to provide confidence to stakeholders who form their decisions based on their reports.http://www.amfiteatrueconomic.ro/ArticolEN.aspx?CodArticol=1211auditbanksfinancial statementsinsolvencyrisk |
| spellingShingle | Milovan Stanisic Danka Stefanovic Nada Arezina Vule Mizdrakovic Analysis of auditor`s reports and bankruptcy risk in banking sector in the Republic of Serbia Amfiteatru Economic audit banks financial statements insolvency risk |
| title | Analysis of auditor`s reports and bankruptcy risk in banking sector in the Republic of Serbia |
| title_full | Analysis of auditor`s reports and bankruptcy risk in banking sector in the Republic of Serbia |
| title_fullStr | Analysis of auditor`s reports and bankruptcy risk in banking sector in the Republic of Serbia |
| title_full_unstemmed | Analysis of auditor`s reports and bankruptcy risk in banking sector in the Republic of Serbia |
| title_short | Analysis of auditor`s reports and bankruptcy risk in banking sector in the Republic of Serbia |
| title_sort | analysis of auditor s reports and bankruptcy risk in banking sector in the republic of serbia |
| topic | audit banks financial statements insolvency risk |
| url | http://www.amfiteatrueconomic.ro/ArticolEN.aspx?CodArticol=1211 |
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