No abstract

Abstract:In recent times, corruption in public sector has been considered one of the biggest problems, that directly affects the stability of public finances and the functioning of the public sector in general, and therefore the economic stability of the country as a whole. Standard mechanisms of prevention of systematic corruption, among other things, represent different types of monitoring and control in the public sector, which are directed towards the facilitation of efficient and effective management of public funds. In recent years, special emphasis in the fight against corruption has been placed on the role of police, and investigative and prosecutorial authorities as bodies primarily aimed at repression and strengthening of cooperation between these bodies and the authorities which are primarily focused on prevention in the system. This paper attempts to answer the question whether, in our circumstances it would be appropriate to establish an entirely new public function -forensic accounting, which would deal with people with specific skills without which it is clearly not possible to make a good connection between prevention and repression.

The Annual Business Report is an obligatory component in the external reporting process played by business entities, usually those who are considered to have public accountability (quoting companies, public companies, banks, insurance companies, investment funds, etc.). Although in accordance with the relevant international accounting regulations they do not form an integral part of the Annual Financial Report (general purpose), bonds of its preparation are mainly presented exactly by information that, by their very nature, belongs to the financial statement, including notes ti financial statements. This paper is devoted to the analysis of the usual reporting practice through the Annual Business Report in the area of the former Yugoslavia. The aim is to point out possible improvements to the existing legal and reporting practices so that, especially external users of information on the operations of publicly-accountable reporting entities, get the highest quality information they need to make various business decisions.