eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2017-02-01 15 145 65 82 10.20869/AUDITF/2017/145/65 9527 article Ioana NEACSU neacsu_ioana2007@yahoo.com 55 Liliana FELEAGA liliana.feleaga@cig.ase.ro 55 Bucharest University of Economic Studies, Romania In the context of internationalization and globalization of businesses an important attention has been paid to the transfer pricing legislation. Moreover, starting with 2016 Romania has adopted new transfer pricing regulations which have a significant impact on the groups of companies. Therefore, one of the objectives of our research was to analyse the Romanian transfer pricing legislation in order to capture an evolution of it. To achieve this objective we performed a comparison between Order 222/2008 and Order 442/2016. Other objectives of the research were to capture the perception of the tax specialists about the transfer pricing subject and the Romanian related legislation, especially about the new regulations and to identify if there is necessary a change in the Romanian transfer pricing legislation. To achieve these two objectives, the main investigative tool used was a questionnaire distributed to members of the Romanian Chamber of Tax Consultants. The collection of the information based on questionnaire was conducted in the period 11 – 27 June 2016. The study’s results show that the Romanian transfer pricing legislation contains some efficient regulations, but however it needs some changes which would contribute to a better prevention of the base erosion and profit shifting between multinationals and which would avoid any misunderstandings and possible disputes between taxpayers and tax authorities. http://revista.cafr.ro/temp/Article_9527.pdf Transfer pricing legislation change Romania Order 442/2016 eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2017-02-01 15 145 83 92 10.20869/AUDITF/2017/145/83 9528 article Rares HURGHIS rares.hurghis@gmail.com 54 Babeș-Bolyai University, Cluj-Napoca, Romania In the last two decades the concept of sustainability reporting gained more importance in the companies’ annual reports, a trend which is embedded also in integrated reporting. Issuing an integrated report became a necessity, because the report explains to the investors how the organization creates value over time. The governance structure, more exactly the board of directors, decides whether or not the company will issue an integrated report. Thus, are there certain features of the board that might influence the issue of an integrated report? Do the companies which issue an integrated report have certain features of the governance structure? Looking for an answer to these questions, we seek for any possible correlations between a disclosure index and the corporate governance structure characteristics, on a sample from the companies participating at the International Integrated Reporting Council Examples Database. The results highlight that only the size of the board influences the extent to which the issued integrated report is in accordance with the International Framework. http://revista.cafr.ro/temp/Article_9528.pdf integrated reporting sustainability reporting corporate reporting corporate governance. eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2017-02-01 15 145 93 102 10.20869/AUDITF/2017/145/93 9530 article Samin KOHANSAL 52 Shoeyb ROSTAMI Sh_Rostami_Acc@yahoo.com 52 Zeynab ROSTAMI 53 Faculty of Accounting, Kooshyar Higher Education Institute, Rasht, Iran Faculty of Accounting, Raja University, Qazvin, Iran The aim of this research is to examine the impact of conditional and unconditional conservatism on the trade credit of companies listed at the Tehran Stock Exchange. In this respect, using a systematic deletion sampling, 74 companies were chosen and studied during the period 2009 to 2013. The method of testing the research hypotheses was a multivariate regression using estimated generalized least square. The results of the research indicated that conditional and unconditional conservatism are positively and significantly related to the trade credit of the companies; in other words, if a higher level of conservatism is used and types of conservatism grow, more trade credit will accrue to companies. http://revista.cafr.ro/temp/Article_9530.pdf Trade credit conditional conservatism unconditional conservatism Tehran Stock Exchange. eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2017-02-01 15 145 103 113 10.20869/AUDITF/2017/145/103 9531 article Jatinder Pal Singh jpsiitr@gmail.com, jatinder_pal2000@yahoo.com 51 Indian Institute of Technology, Roorkee, India Pronouncements of regulatory bodies on ‘hedge accounting’ are aimed at ensuring that impact of price changes of hedging relationships are accounted for concurrently. However, it sometimes happens that certain provisions of these standards result in the reporting of enhanced earnings volatility being attributed to hedging relationships which is not economically justified. It is often perceived to be the case by stakeholders that the provisions of IAS 39 on ‘hedge accounting’ do not appropriately reflect and are not aligned with the risk management strategies of entities that attempt to mitigate risk using various hedging relationships. This occasionally results in a reporting entity adopting either a suboptimal hedging strategy that gives it eligibility to account for it using ‘hedge accounting’ or vice versa. Thus entities may be faced with the tradeoff between the benefits of risk mitigation strategies and the benefits derived from adopting ‘hedge accounting’. This motivated the IASB to initiate action for the complete reformulation of the standard on ‘hedge accounting’. The revised standard was pronounced in November 2013 as IFRS 9. In this article, we attempt to evaluate the upgradations introduced by IFRS 9 over its predecessor, IAS 39, with particular reference to the reporting of risk management strategies of affected entities. http://revista.cafr.ro/temp/Article_9531.pdf IFRS 9 IAS 39 hedge accounting risk management financial derivatives eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2017-02-01 15 145 114 122 10.20869/AUDITF/2017/145/114 9532 article Marian SACARIN marian.sacarin@cig.ase.ro 50 Bucharest University of Economic Studies, Romania In January 2016, the International Accounting Standards Board (IASB) issued IFRS 16 “Leases”, which will replace the current standard IAS 17 “Leases”. IFRS 16, whose application is mandatory for annual periods beginning on or after January 2019, sets out new rules for the recognition and measurement of leases, leading to a change of value for the elements recognized in the financial statements, as well as for the financial indicators calculated based on these. The purpose of this article is to present, based on a comparative analysis of IFRS 16 and IAS 17, the main consequences that the application of IFRS 16 will arise, in respect of the financial statements and the financial indicators determined based on the information provided by these. http://revista.cafr.ro/temp/Article_9532.pdf IFRS 16 “Leases” lessee consequences financial statements financial indicators IAS 17 “Leases”.