eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-12-01 14 144 1325 1334 10.20869/AUDITF/2016/144/1325 9515 article Alain BURLAUD alain.burlaud@cnam.fr 13 Maria NICULESCU maria.niculescu@auf.org 14 Conservatoire national des arts et métiers (Cnam), Paris Ecole Supérieure de la Francophonie pour l’Administration et le Management (ESFAM), Sofia The international accounting standards (IFRSs and ISAs) rely increasingly more on the “professional judgment”. What is the situation in France and in Romania? After the conceptual clarifications, the article places the evolution of the professional judgment in the general movement of the law, which goes from “modernism” to “post-modernism” to become a law of specialists able to have a qualified opinion on highly technical subjects. In order to observe, in a scientific manner, this evolution of the accounting standards, we conducted a content analysis of principal legislative accounting texts, international and national (France and Romania), supplemented by a lexicometric analysis. These analyses allowed us to conclude that the importance of professional judgment in accounting standards is lower at the national level than it is at the international level. However, we highlight a number of dangers related to an increased use of professional judgment: loss of comparability and transparency, increased risks for accounting professionals including auditors, and significant discrepancies in the use of professional judgment in individual or consolidated accounts http://revista.cafr.ro/temp/Article_9515.pdf Professional judgment accounting standards accounting law modern law postmodern law. eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-12-01 14 144 1335 1348 10.20869/AUDITF/2016/144/1335 9517 article Ioana SOFIAN ioana.sofian@yahoo.com 12 Bucharest University of Economic Studies This paper aims to identify a company with Romanian capital that has potential to implement the integrated reporting principles, with real benefits in attracting investors and/or building an international reputation. To achieve this goal, we performed a study on companies listed at the Bucharest Stock Exchange that operate in different sectors. We analysed the investment opportunity, the reports published currently by the companies and their compliance with the International Integrated Reporting Framework in the view of preparing an integrated report. The case study revealed a high potential for the implementation of integrated reporting within Antibiotice Iași S.A. As compared to all the selected companies, this company’s reporting practices are currently the most similar to the integrated reporting. However, for the other companies, the option to publish an integrated report is viable under certain conditions, particularly in order to build a business card that is internationally recognized and universally comparable. http://revista.cafr.ro/temp/Article_9517.pdf Integrated reporting Romania value creation listed companies eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-12-01 14 144 1349 1358 10.20869/AUDITF/2016/144/1349 9518 article Alina-Teodora CIUHUREANU alinaciuhureanu@yahoo.com 11 “Nicolae Bălcescu” Land Forces Academy, Sibiu It is well known that not only in Romania, internal control and auditing are subject to legal regulations. Often, the two forms of ensuring the quality of accounting information are particularly perceived as mandatory requirement instead of as a necessity for certifying the information travelling between producer and user. The paper addresses issues which aim to highlight the need to organize the internal control and auditing of the accounting information from the perspective of the need to certify the accounting information for a responsible reporting. Moreover, through a study conducted on a sample of 301 companies in the Central Region of Romania, we also captured the managers’/directors’ opinion regarding the internal control and audit in terms of confidence, ensuring opportunities to valorise the accounting information and its usefulness for management. http://revista.cafr.ro/temp/Article_9518.pdf Control audit accounting information certification management eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-12-01 14 144 1368 1377 10.20869/AUDITF/2016/144/1368 9519 article Adelina DUMITRESCU – PECULEA adelina.peculea@snspa.ro 9 Yuanyuan SUI suiyuanyuan1994@163.com 10 National University of Political Studies and Public Administration, Romania Ocean University of China Mergers and acquisitions are basic channels for modern companies’ growth. With globalization speeding up, multinational companies increasingly take on M_A activities to strengthen global market positions and raise competitiveness. In recent years, M_A activities have played an important role in Chinese companies. Financial risk is inherent to M_A processes in cross-border companies. Also, more than 50% of Chinese companies did not achieve their M_A goals. Therefore, recognizing and controlling financial risk is essential. This paper analyses the financial risk from different perspectives and then provides suggestions by analysing a typical M_A case: Bohai Leasing merger with Seaco Company. Complete due diligence and clear M_A strategies, combination of various financing instrument, strategic paying methods and finance integration are some ways for controlling and decreasing finance risk. http://revista.cafr.ro/temp/Article_9519.pdf Financial risk cross-border M_A Dupont method mechanisms of financial management. eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-12-01 14 144 1359 1367 10.20869/AUDITF/2016/144/1359 9526 article Flavius-Andrei GUINEA flavius.guinea@cig.ase.ro 7 Bucharest University of Economic Studies The objective of the study to investigate the less clear aspects of the cultural influences on the objectives-setting process and on the procedures for the adoption and implementation of a management accounting system. To achieve this objective, the study uses a research methodology which is mainly qualitative, with insertions of field research findings generated by the author. Cultural factors and the environment in which an entity operates affect the strategic objectives of management accounting systems. The key contribution of the study is that it identifies significant evidence that an entity’s the strategic objectives of may vary depending on national and cultural characteristics. It is stated that there are numerous factors that may explain these variations, but all of them are governed by the cultural dimension. Inevitably, Romanian entities are placed in a specific cultural context. The study identifies the specific cultural dimensions and how they influence the process of defining goals within management accounting systems. National management accounting systems currently lie in relatively conflictual area generated by the permanent confrontation of local values and mentality with the effect of international convergence. The reflections presented in the study are a starting point for identifying, analysing and reconciling all the factors that crystallized or erode a modern and efficient system of management accounting. http://revista.cafr.ro/temp/Article_9526.pdf Managerial accounting culture national differences setting objectives.