eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-08-01 14 140 868 874 10.20869/AUDITF/2016/140/868 9491 article Maria – Monica Haralambie 21 Bogdan Ștefan Ionescu bogdan.ionescu@cig.ase.ro 21 Bucharest University of Economic Studies Until a few decades ago, the decision power to deny or grant a loan laid in the hands of a single individual: the credit analyst. Some of the bad experiences of banks losses or even failures were attributed to bad decisions made by credit analysts, who based their decision on personal knowledge, their information about the potential customer and the trust placed in the customer. After the financial crisis, two key concerns have been raised regarding banks’ activities: “too little, too late” provisioning for loan losses and “too big to fail”. The credit risk management subject became not only a compliance exercise for banks, but also a key item considered when establishing the strategy and execution path. Our intention within this paper is to discuss some of the specific issues related to credit risk management, considered by commercial banks when analysing a corporate client. The result of this research is a web application named CISS (Credit Institution Scoring System), which represents a proof of concept for a bank credit scoring system. The application was developed using HTML + MySQL + PHP solutions. http://revista.cafr.ro/temp/Article_9491.pdf Credit risk scoring multidimensional model database application corporate clients. eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-08-01 14 140 875 798 10.20869/AUDITF/2016/140/875 9492 article Iulia-Oana ȘTEFAN(BELCIC-ȘTEFAN) iulia.oana.stefan@gmail.com 20 University of Craiova This paper examines and quantifies the implications of financial indicators of performance on the share return of companies listed on Bucharest Stock Exchange. These implications are even more relevant as the Romanian capital market could benefit from increased visibility with its reclassification as an emerging capital market in the near future. The research is conducted at the level of 33 companies listed on BSE for the time frame 2011-2013, building a multiple linear regression model that quantifies the variation in price to book value depending on the evolution of nine financial indicators of performance out of a total of 38 such possible indicators. Correcting the effects of serial correlation within the model led to its respecification resorting to the generalized differences procedure. The value of the R-squared coefficient of determination for the processed model is 0.543, eight of the nine independent variables being significant at the 1% level. The 0 probability associated to the F-test as well as its value confirm that the regression equation is globally significant. Also, all the assumptions for validating the estimated model are confirmed, both general ones, characteristic to the multiple linear regression procedure, and, in particular, according to the specific set of data under processing. The applied usefulness of the regression model is valued in the next step of the research, that of testing the effectiveness of the Romanian capital market, after which it was found that the influence of financial performance indicators was already incorporated into the market price since the end of the reporting period. http://revista.cafr.ro/temp/Article_9492.pdf Financial performance stock exchange performance listed companies Bucharest Stock Exchange market efficiency multiple linear regression model. eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-08-01 14 140 897 908 10.20869/AUDITF/2016/140/897 9493 article Galina Bădicu gbadiku@mail.ru 19 Svetlana Mihăilă sv_mihaila@yahoo.com 19 Academy of Economic Studies of Moldova The responsibility for the skills of specialists in the economic field belongs to universities, which, by modernizing the curriculum, must take into account the requirements of the professional environment (employers), where the role of the economic specialist extends beyond narrow knowledge, flexibility and high capacity to address various problems. From this perspective, in order to enhance the role of the academic environment and to develop the professional skills of the graduating economists, it is necessary to correlate the competencies and the requirements about educational outcomes. With regard to the relevance of the accounting subjects in the professional training of non-accountant economic specialists, given the competing interests of universities, students and employers in the field of education, we proposed a debate with the view to design strategies of accounting education in the higher economic education of the Republic of Moldova. The article represents a study based on the documentation of the university curriculum in undergraduate programs. With the view to test and validate the necessity of studying accounting subjects in the professional training of non-accounting economic specialists, a questionnaire was developed and implemented. The general research idea refers to the need to study accounting in economic education and practice, which could have an impact over the competitiveness of the Economics graduate. http://revista.cafr.ro/temp/Article_9493.pdf Superior studies university professional training non-accountant economic specialists professional environment the relevance of accounting in the economic education and practice the Bologna process Republic of Moldova. eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-08-01 14 140 909 917 10.20869/AUDITF/2016/140/909 9494 article Elena Doina Dascălu doina.dascalu@rcc.ro 18 Spiru Haret University of Bucharest, The Romanian Court of Accounts This article proposes a solution to determine the size of the internal audit departments in public sector organisations. The conceptual model for determining the actual size of an internal audit department, as adopted by the Institute of Internal Auditors (IIA), is presented and the various factors used in dimensioning are analysed. The article also presents a computational model for the public sector, illustrated by means of a procedure which is based on the size of the organization and uses specific calculation variables and explicit (clearly defined) correction coefficients to determine the final number of internal auditors. The variables and the coefficients of the described model cover the significant factors that might influence the size of the internal audit department. At the same time, the requirements of adequacy and usefulness of the model for the various entities of the public sector are insured. The model proposed for the public sector entities constitutes also a supporting tool for the practical implementation of the legal, regulatory and normative requirements with regard to the sizing of the internal audit departments. http://revista.cafr.ro/temp/Article_9494.pdf Internal audit in the public sector sizing of the audit departments critical factors for sizing. calculation model for dimensioning eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-08-01 14 140 918 926 10.20869/AUDITF/2016/140/918 9495 article Silviu Duţulescu silviudemetrius@yahoo.com 17 Ileana Nișulescu-Ashrafzadeh 17 Bucharest University of Economic Studies Corruption is a mass phenomenon which can be almost harmless in small doses, but is able to undermine a country’s national economy once it is out of control, generating chaos and, in extreme cases, even civil wars. The phenomenon exists in all countries and all kinds of management regimes (democracy, totalitarism, etc.). In Romania, corruption is caused by the low standard of living (compared with citizens of West-European countries), but also by the general mentality of people, which prove to be quite permissive and at large with the existence of the phenomenon. This research aimed at analysing the main causes underlying corruption. Since the phenomenon is quite complex, a set of heterogeneous variables was chosen (GDP per capita, the percentage of people who have at least a high school education of the total population of each county, the share of employees in the public sector in total employment, the average time of a trial and the average jail time) that can depict the phenomenon, and especially its evolution over time. Such an analysis was conducted in all counties of Romania, Bucharest also being added for comparability reasons and due to some specific features. Finally, the whole scientific approach was organized in the form of a table that categorizes each territorial unit in an area of higher or lower risk level in terms of corruption size. http://revista.cafr.ro/temp/Article_9495.pdf Corruption county charts Romania corruption causes