eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2019-08-01 17 155 441 451 10.20869/AUDITF/2019/155/441 9615 article Information comparability can be ensured by consistently applying the same financial reporting framework or similar financial reporting frameworks. The comparability of financial information can be measured both between firms and from one period to another. In the study there has been evaluated the comparability of accounting information over time, from one financial exercise to another, and in space, between firms, with panel data analysis using models with fixed-effects. The study was conducted on a sample of 63 BSE Romanian listed companies, during the period 2007-2016, and to obtain the research results, panel data analysis was performed. The main results have revealed that the move to IFRS has led to increased comparability of financial information, based on the estimates of time and cross fixed effects. http://revista.cafr.ro/temp/Article_9615.pdf accounting information accounting quality comparability IFRS panel data analysis eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2019-08-01 17 155 452 472 10.20869/AUDITF/2019/155/452 9616 article In the era of continuous transformation, the role of internal audit has steadily increased, becoming one of the strategic pillars of today’s companies. In the current context, where corporate governance, risk management and internal controls are increasingly in the hands of regulators, shareholders and the general public, internal auditors have the task of reacting proactively and responsibly to the challenges of the market. Thus, it is important to understand the way in which internal audit activity is being carried out as well as its directions of development. This study aims to provide an overview of the priorities identified by companies in the field of internal audit and to illustrate opportunities to improve the efficiency and effectiveness of the activity of internal audit departments The themes approached in this research aim to define the role of the internal audit function and to describe the way in which internal audit processes are currently being carried out. The research also aims to identify the prospects for transformation of the internal audit function from one that is focused on regulatory compliance into one that can add value to companies. Issues related to the impact of new technologies in process optimization are explored and another topic of interest is the perceived level of current staff skills and the extent to which the budgets and the size of the audit departments currently correspond to their business needs. http://revista.cafr.ro/temp/Article_9616.pdf internal audit risk management compliance cyber security new technologies staff skills eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2019-08-01 17 155 473 485 10.20869/AUDITF/2019/155/473 9617 article The audit process has progressed and improved with the economic and political development of each country as response to the challenges of society and politics in each country and as result of the global changes` effect. The purpose of this study is to analyze the development of the audit concept and to study the main factors influencing the internal audit legislation in Albania and Romania. The research aimed to highlight some aspects of theory about how the internal audit has emerged in Albania and Romania, and to provide an overview of the differences and similarities of the two legislations on public internal audit. A detailed comparative study of the laws of both countries has concluded that Albania`s legislation needs to be revised, as there are some issues that are not fully covered by the law. Efforts to improve the internal audit activity are numerous, but much remains to be done. Although Romania has a more comprehensive and detailed internal audit law, both countries need to strengthen the enforcement of legislation. For a reasonable use of public funds, the authors advocate the imposition of "restrictive"/"blocking" mechanisms or procedures for entities that do not comply with the legal provisions on internal audit. http://revista.cafr.ro/temp/Article_9617.pdf internal audit control legal framework public entities eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2019-08-01 17 155 486 495 10.20869/AUDITF/2019/155/486 9618 article The time when the auditors of the public interest entities have been issuing a standardized audit report, without describing the most significant risk identified throughout the audit process, has ended. In the new reporting framework, the audit reports provide more information and transparency to stakeholders, in particular on the significant matters discussed by the auditors with those charged with the entities’ governance. The purpose of the research is to identify and analyze the key audit matters reported by the financial auditors for a sample of public interest entities in Romania. The results highlighted that most auditors complied with ISA’s requirements on the presentation of key audit matters, respectively that auditors have different approaches in terms of the average number of key audit matters reported, nature of the key audit matters and disclosure of the materiality used in the audit process. http://revista.cafr.ro/temp/Article_9618.pdf audit report public interest entities key audit matters stakeholders eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2019-08-01 17 155 496 506 10.20869/AUDITF/2019/155/496 9619 article The aim of this study is to find out whether the board of commissioners, board of independent commissioners, audit committee, managerial ownership, institutional ownership, or auditor type has an influence on company’s financial performance. The method used is double regression analysis. The studied population is involving real estate companies which are registered in BEI (Indonesian Stock Exchange). Then, the sample itself is purposive sampling and the data type used is financial report data. The result shows that the board of commissioners and institutional ownership has significant positive influence toward financial performance; meanwhile, board of independent commissioners, audit committee, managerial ownership, and auditor type has no significant influence on financial performance. http://revista.cafr.ro/temp/Article_9619.pdf board of commissioners managerial ownership institutional ownership eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2019-08-01 17 155 507 519 10.20869/AUDITF/2019/155/507 9620 article Within the decision-making process, investors are interested in finding the most effective solutions that will allow them to obtain short-term benefits. Current economic environment is characterized by the emergence of new financial instruments that can assist investors to diversify their investment portfolio. Crypto-currencies represents a category of financial assets that can be used by investors to reduce risk and achieve significant returns. Therefore, the study intends to analyze the financial behavior of investors in the moment of publishing the financial statements. Financial statements could have a positive or negative influence on the investment portfolio and structure. The issue analyzed by this study is represented by the ability of the cryptocurrency Bitcoin to be considered as an alternative investment asset. The study is divided into two parts. In the first part, the study presents the review of literature about value-relevance, cryptocurrency term and speculative bubble. The second part presents the research methodology and results. The results of the study validate the hypothesis of this study, cryptocurrency Bitcoin being a financial asset that can be used as an alternative investment asset for diversification of investment portfolio. http://revista.cafr.ro/temp/Article_9620.pdf capital market crypto-currency Bitcoin financial information value relevance conservatism accounting eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2019-08-01 17 155 520 536 10.20869/AUDITF/2019/155/520 9621 article Since the publication of the Brundtland Report (WCED, 1987), the literature in the field of accounting engaged in covering the need for research on sustainable development through several approaches. The paper aims to present the current context of sustainable development worldwide, as well as to conduct a qualitative analysis of the efforts made by standard-setting bodies, representatives of accounting profession and professionals in the field, based on the public reports prepared and the studies conducted by the latter on sustainable development, with the purpose of emphasizing the influence of accounting and accounting profession on sustainable development. This research paper contributes to enriching literature in the field of accounting for sustainable development, by highlighting the important role of accounting, as well as the initiatives undertaken by stakeholders in this area to meet the 2030 Agenda for a better world (UN, 2015). http://revista.cafr.ro/temp/Article_9621.pdf sustainable development accounting Sustainable Development Goals (SDG) accounting profession non-financial reporting