Template-Type: ReDIF-Article 1.0 Author-Name: Sorin Domnisoru Author-Email:domnisorusorin@yahoo.com Author-Workplace-Name: University of Craiova Author-Name: Radu Ogarca Author-Email:rfogarca@yahoo.com Author-Workplace-Name: University of Craiova Author-Name: Isabela Dragomir Author-Email:isabela_dragomir@yahoo.com Author-Workplace-Name: University of Craiova Title: Organizational culture and internal control Abstract: The paper proposes investigating the relationship between the organizational culture and internal control. The approach is a qualitative, constructive one. There is asserted and argued the thesis according to which between the two elements there is a one-to-one relationship, going on up to an extended overlapping between the organizational culture and the internal control environment. Though, our work emphasizes also the potential differences and distortions which may appear within the organizational activity between these important elements. The identification of several factors which may enhance the synergy between the organizational culture and internal control, respectively the description of possible entities, processes and organizational relationships through which there could be made corrections and reciprocal adjustments between the two elements are the main results of the present research, with theoretical importance for the scientific and practical research for the organizational management and audit. Classification-JEL: M10, M14, M49 Keywords: Organizational culture, internal control, management, control environment Pages: 628 Volume: 15 Issue: 148 Year: 2017 Month: File-URL: http://revista.cafr.ro/temp/Article_9556.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:15:y:2017:i:148:p:628 Template-Type: ReDIF-Article 1.0 Title: Audit Financiar Journal in 2017 Abstract: The importance of financial literacy has increased due to factors such as the development of new financial products, the complexity of instruments and financial markets, political changes, and economic factors. For this reason, considerable measures have been performed recently by people and organizations with scientific competencies such as the World Bank, in respect of introducing, evaluating, and improving the people’s financial literacy. Due to the importance of this concept, this research has been performed with the goal of evaluating the role of the financial literacy training in the participation ratio of small and medium-size enterprises in financial markets. The statistical population of this research is composed of small and medium-size companies activating in the industrial city of Rasht. For the data analysis, the Structural Equation Modelling was used, by the PLS method. The results show that the financial literacy training has a positive and significant impact on the financial literacy level, and also on the market participation. Classification-JEL: C12, G1 Keywords: Financial Literacy, Financial Training, Market Participation Pages: 644 Volume: 15 Issue: 148 Year: 2017 Month: File-URL: http://revista.cafr.ro/temp/Article_9557.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:15:y:2017:i:148:p:644 Template-Type: ReDIF-Article 1.0 Author-Name: Ramona Jurubita Author-Email:rjurubita@kpmg.com Author-Workplace-Name: Bucharest University of Economic Studies Title: The digital economic chain – ICT in the loop of the OECD regulations Abstract: Taxation is today at the top of the agenda of international organizations, a reflection of governments’ intent to gather as many taxes as possible into their jurisdictions. There is an assumption that base erosion and profit shifting exists, carried out in some cases as a result of aggressive tax planning or, in other cases, as a result of the lack of coherence of the tax systems of various jurisdictions. There is an estimation that countries worldwide lose taxable income equivalent to between 4% and 10% of global revenues from corporate income tax. The Romanian ICT business is generating significant profits. This paper intends to analyze the information technology sector, in which businesses are rapidly growing, in line with technology for all sectors of activity and in line with the EU’s strategy for promoting and supporting innovation. The objective of this paper is to analyze how the ICT sector may be affected by the new approach of allocating profits to various jurisdictions and how R&D activities may also need to be reanalyzed, in terms of fees charged between multinationals. Romania can be proud of its ICT professionals and the business generating profits in the sector. The author has also analyzed how other countries may benefit from profits from international transactions carried out in the sector and how Romania can continue to support it. Classification-JEL: M41 Keywords: OECD, BEPS, ICT, R&D, transfer pricing, substance, value added, know-how, innovation, taxable profits Pages: 655 Volume: 15 Issue: 148 Year: 2017 Month: File-URL: http://revista.cafr.ro/temp/Article_9558.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:15:y:2017:i:148:p:655 Template-Type: ReDIF-Article 1.0 Author-Name: Maria – Monica Haralambie Author-Email:haralambie.monica@gmail.com Author-Workplace-Name: Bucharest University of Economic Studies Author-Name: Bogdan Stefan Ionescu Author-Workplace-Name: Bucharest University of Economic Studies Title: The economic implications of international migration – an analysis of capital remittances applied to Romania Abstract: This paper aims to assess some of the positive and negative effects of international migration on Romania. In the first part, our study aims to statistically validate based on data on the economic and social reality of Romania between 2008 and 2015, the emigration reasons of 266 Romanians living abroad. The second part of our article studies the effect of capital remittances on the well-known and applied law of Okun from two different perspectives: destination countries and origin countries. Classification-JEL: F22, F24 Keywords: International migration, emigrant, Okun’s law, economic effects of migration, migration causes, questionnaire. Pages: 667 Volume: 15 Issue: 148 Year: 2017 Month: File-URL: http://revista.cafr.ro/temp/Article_9559.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:15:y:2017:i:148:p:667 Template-Type: ReDIF-Article 1.0 Author-Name: Vasile Cosmin Nicula Author-Email:vasilecosminnicula@gmail.com Author-Workplace-Name: West University Timi?oara Title: Consulting provided by the internal public audit function Abstract: This paper tackles an important issue related to internal public audit, namely specific consulting. Thus, we conceptually approach the three types of consulting engagements, focussing on a comparison between the assurance and the consulting engagements. Then, after an analysis of good practices in planning and unfolding consulting engagements, there is a conclusion section and we close the article with proposals for the enhancement of consulting afforded by internal public audit. Classification-JEL: M21, M40 Keywords: audit engagements, typology, IIA Standards, responsibility of internal auditor, internal public auditing methodology, good practices. Pages: 677 Volume: 15 Issue: 148 Year: 2017 Month: File-URL: http://revista.cafr.ro/temp/Article_9560.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:15:y:2017:i:148:p:677 Template-Type: ReDIF-Article 1.0 Author-Name: Shujahat Haider Hashmi Author-Workplace-Name: School of Economics, Huazhong University of Science and Technology, Chia Author-Name: Munawar Hussain Author-Workplace-Name: Riphah International University Islamabad, Pakistan Author-Name: Raja Muhammad Ahsan Ilyas Author-Workplace-Name: Islamic University AJK, Pakistan Author-Name: Muhammad Asif Khan Author-Email:khanasif82@hotmail.com Author-Workplace-Name: School of Economics, Huazhong University of Science and Technology, Chia, University of Kotli Title: Sensitivity analysis for the determinants of investment appraisal Abstract: This study empirically conducts the sensitivity analysis for the determinants of investment appraisal of Pakistani non-financial firms listed at Pakistan Stock Exchange (PSX) across sectors. We employed OLS regression along with common effect and fixed effect model on panel data pertaining to 60 non-listed firms at Pakistan Stock Exchange (PSX) over the period from 2003 to 2015. Empirical results document that leverage, growth, dynamism and inflation have strong positive associations with investment appraisal, however, munificence and GDP influence the process conversely. The study provides useful framework for potential investors to evaluate all these vital factors besides conventional mechanism, prior to making investment decision. Policy makers for non-financial sectors may get benefit by apply this diagnostic model to evaluate prospective investment projects for the most optimistic outcome. Corporate finance literature reveals that there is no formal evidence of determinants of capital expenditure at different levels of economic recessions; therefore, the study is pioneer effort to identify the significant determinants of investment appraisal of Pakistani listed non-financial firms across sectors, eventually, a useful contribution in existing literature. Classification-JEL: M41, G31, G12. Keywords: Capital expenditure, investment appraisal, sensitivity analysis, munificence, HHI Pages: 686 Volume: 15 Issue: 148 Year: 2017 Month: File-URL: http://revista.cafr.ro/temp/Article_9561.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:15:y:2017:i:148:p:686 Template-Type: ReDIF-Article 1.0 Author-Name: Madalina Dumitru Author-Email:madidumitru2007@gmail.com Author-Workplace-Name: Bucharest University of Economic Studies Title: Audit Financiar Journal in 2017 Pages: 593 Volume: 15 Issue: 148 Year: 2017 Month: File-URL: http://revista.cafr.ro/temp/Article_9552.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:15:y:2017:i:148:p:593 Template-Type: ReDIF-Article 1.0 Author-Name: Ionela-Corina Chersan Author-Email:corina.chersan.macovei@gmail.com Author-Workplace-Name: Alexandru Ioan Cuza University, Ia?i Title: Accounting research in Romania: state of affairs, possible causes and deviations Abstract: The paper aims to analyze the state of the accounting research in Romania, as compared to the other countries in Eastern Europe, as well as to identify the causes of the observed situation and its possible deviations in the research activity, respectively in the field of research evaluation. The Scimago database was used to carry out the research, which allowed the analysis of Romania's position in Eastern Europe in terms of the number of published articles, average number of article quotes and self-citations. The study of the specialized literature and the direct knowledge of some aspects specific to the Romanian academic life allowed to identify possible causes of the current situation, and also some behaviors, not always normal, generated by the enforcement of certain criteria for the occupation of didactic functions without a sufficient analysis of the Romanian realities, and even without any care to restore the traditional social role of the universities. Classification-JEL: M14, M21, M40 Keywords: research evaluation, bibliometric, citations analysis, Scopus, Scimago Pages: 595 Volume: 15 Issue: 148 Year: 2017 Month: File-URL: http://revista.cafr.ro/temp/Article_9553.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:15:y:2017:i:148:p:595 Template-Type: ReDIF-Article 1.0 Author-Name: Maria-Silvia Sandulescu Author-Email:maria.sandulescu@cig.ase.ro Author-Workplace-Name: Bucharest University of Economic Studies Title: Impression management – an international perspective Abstract: The purpose of this paper is to perform a review of the international literature regarding impression management by presenting the inherent strategies and their potential impact on the users of accounting information. The concept involves creating a favorable image regarding the financial performance of the company and using it in order to manipulate the decisions of the users of accounting information. The persuasion within corporate narratives overrules the fundamental characteristic of information, namely faithful representation. Consequently, knowing the impression management strategies facilitates their identification and lowers their efficiency and negative effects. As a result, the present study analyzes the main research papers published from 2000 to 2015 in an international background that investigates the impression management concept. Finally, future research opportunities are identified. Classification-JEL: D82, M41 Keywords: Impression management, manipulation, financial performance, users of accounting information Pages: 605 Volume: 15 Issue: 148 Year: 2017 Month: File-URL: http://revista.cafr.ro/temp/Article_9554.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:15:y:2017:i:148:p:605 Template-Type: ReDIF-Article 1.0 Author-Name: Alina Bratu Author-Email:alina.bratu1605@gmail.com Author-Workplace-Name: Bucharest University of Economic Studies Title: Empirical study regarding the integrated reporting practices in Europe Abstract: Integrated reporting is a practice which seeks to communicate an organization’s value through a holistic picture integrating both financial and non-financial information. This process is in its incipient phase, with many companies unsure of how prepare a truly integrated report. With the aim of providing a better understanding on integrated reporting and its benefits, a common framework, was developed by The International Integrated Reporting Committee (IIRC). The main objective of this paper is to assess the compliance level of the integrated reports published for 2015 by the European companies which have adopted the initiative, with the IIRC Framework suggestions regarding its Guiding Principles. This research was carried out by using a content analysis and scoring based methodology. The results reveal that the companies are in different stages regarding the conformity with the IIRC requirements. Moreover, some companies analyzed in this study are in the vanguard of the initiative whereas others produce “combined” rather than “integrated” reports. This research contributes to relevant literature by analyzing the post IIRC Framework publication period, as it studies integrated or annual reports published for the 2015 fiscal year. Classification-JEL: M10, M40, O52, F60 Keywords: Integrated reporting, IIRC Framework, Guiding Principles, Content analysis, Scoring. Pages: 613 Volume: 15 Issue: 148 Year: 2017 Month: File-URL: http://revista.cafr.ro/temp/Article_9555.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:15:y:2017:i:148:p:613