Audit is a systematic process of objective gathering and assessment of evidence related to company's management statements regarding economic activities and events recorded during the reporting period. The purpose of financial statements audit is to build trust of potential users in published financial statements. This is achieved by obtaining auditor's opinion on the compliance of the key elements of financial statements with the relevant financial reporting framework and professional standard. The purpose of this article is to highlight the importance of amandatory audit, especially for public companies. The research based on a sample of 434 companies listed on the Belgrade Stock Exchange shows that national audit firms perform mandatory audits for nearly 63% of publiclytraded companies, while the remaining number of companies are audited by international audit firms (including the Big 4).

Cilj ovog rada je ukazivanje na problem manjka poverenja potrošača u Republici Srbiji kada je u pitanju kupovina preko interneta. Iako je onlajn kupovina popularna u razvijenim zemljama i predstavlja jedan od najefikasnijih načina obavljanja transakcije između prodavca i kupca posredstvom interneta, u Republici Srbiji je značajno drugačija situacija. Istraživanje sprovedeno 2015. godine pokazuje da je samo 35% građana Republike Srbije koristilo e-commerce sistem trgovanja. Jedan od načina prevazilaženja suzdržanosti kupaca prema elektronskoj trgovini jeste pomoću oznake poverenja E-trustmark, uvedene od strane projekta Razvoj elektronskog poslovanja, koja predstavlja garanciju bezbedne trgovine. U ovom radu posebnu pažnju ćemo usmeriti ka novom konceptu poverenja koji će se u budućnosti koristiti kao merilo bezbednosti i kvaliteta B2C modela poslovanja. Zaključak istraživanja ukazuje na potencijalno otklanjanje prepreka koje se tiču poverenja potrošača pomoću oznake poverenja, kao i načine da se prevaziđu barijere između prodavaca i kupaca u elektronskoj trgovini.

This paper analyses the lag of audit reports for companies included on Belgrade Stock Exchange (BELEX). Its purpose is to define which of listed variables have an influence on the length of time between the end of the financial reporting period and the date the audit report is made public. The research sample includes 400 firm year observations for 2017, representing approximately 70% of the total number of public companies on the BELEX. The results are interpreted through descriptive analysis, correlation analysis between the given variables, and linear regression. Based on these results, the authors created a model which highlights critical factors in estimating Audit Report Lag (ARL). Research results have shown that the level of market capitalization represents a statistically significant variable for predicting ARL. Companies with higher market capitalization can expect reports more quickly than other companies. Research results may assist prospective and existing investors when analysing investment risks related to the accuracy and reliability of information presented in financial statements. Regarding its contribution, this paper is considered original as it is the first paper that analyses the factors affecting ARL in the Republic of Serbia.

Cilj rada je bio utvrđivanje strukture finansiranjarazvojnih projekata jedinice lokalne samouprave grada Bijeljina.Razvoj jedinice lokalne samouprave sprovodi se uz pomoć planaimplementacije strategija razvoja koje se postavljaju za određenivremenski period. Najznačajniji instrument za finansiranjelokalnog razvoja, implementaciju i upravljanje razvojnimprojektima predstavlja finansijski plan. U okviru njega definišuse, pored budžetskih sredstava i drugi oblici izvora finansiranja.S obzirom na to da budžetska sredstva često nisu dovoljna zafinansiranje plana strategije razvoja jedinica lokalnesamouprave, neophodno je obezbediti sredstva putemzaduživanja, donacija, fondova, javno – privatnog partnerstva idrugih. Rezultati istraživanja pokazali su da se razvojni projektiu gradu Bijeljina najvećim delom finansiraju iz ostalih izvoru(85%), dok se iz budžeta jedinica lokalne samouprave izdvajasvega 15% za finansiranje planiranih razvojnih projekata.

The purpose of this paper is to analyse profitability indicators of business entities listed on Belgrade Stock Exchange and correlation with disclosed amount of asset impairment. Namely, entities that have negative financial result or lower financial performance might be motivated to use some of the methods of earnings management. Impairment of a company's assets is sometimes used to manipulate the amount of disclosed result, especially when the observed entity outperforms or under-performs considerably. The research sample includes 400 public companies and their financial statements for 2017 reporting period. The results of this research might be useful for potential investors, as well as other stakeholders, such as financial institutions and tax administration.