The supply chain has major impact on the company's business strategy directly affecting its operational costs. Supply chain performances within the organization have a significant impact on the company's ability to provide services to their customers and create added value. Internal audit of the supply chain is one of the most powerful and fastest ways to reduce operational costs and provide the company competitive advantages in the global market in times of economic crisis. The aim of this paper is to present the key areas of internal audit activities in assessing risk and analyzing the functioning of the supply chain. The aim of internal audit is to make recommendations for improving the efficiency and effectiveness of operations and to help management in achieving the projected business goals. The subject of this paper is the analysis of various fields of internal audit of the supply chain as well as evaluating the characteristics of individual elements of the chain with consideration to appropriateness and integration of those elements. Moreover, this paper will give an answer to the question to what extent the operations within the supply chain contribute to the fulfilling of the development strategy of the company.

Compensations and benefits have always been very sensitive and complex activity of HRM process in production systems. Model of compensations presents financial and non-financial rewards linked to efforts and performances of employees and executives. Since this activity is understood as very important due to two main reasons, that compensations are motivation factor for employees and operational costs are for the company, there is a demand of making rewarding process highly effective and efficient for reaching employees and shareholders satisfaction. Besides this, many frauds, risks and problems related to amounts of executive compensations in the past initiate the need of appropriate management and control of this process. One possible way of reaching the effectiveness and efficiency of compensation process in terms of appropriate governance, risk management and control is the internal audit. Internal audit can be defined as method of independent and objective validation that increases the value and improves the operation and performance of organization and also facilitates the effects of related processes to achieve organization's goals and objectives. The main objective of this paper was to explore the reasons for, the processes involved in and risks of internal audit in HRM area of compensation and benefits. In the paper a desk research method has been used. First, the authors made a review of literature available on internal audit, with significant analysis of internal audit standards. In continuation, the rewarding process and compensations and benefits structure has been analyzed according to the practices of organizations systems and literature of HRM. After theoretical analysis, the authors integrated appropriate aspects and steps of internal audit in compensation process, where they emphasized the role of internal audit in compensation and benefit structures and amount of compensation's expenditures (related to the executive compensations). Findings of this paper are that the main reason for implementing internal audit through planned system of steps (gathering information, evaluation, analysis and action planning) and approaches (mainly by surveys) is to obtain information that would be helpful for the organization as a whole in terms of improvement of business processes related to compensation and benefit. Also, internal audit of compensation and benefit package can minimize risks that are linked to HR compensation process (employment market risk, reputation risk, compliance risk, external partnership risk, operation risk, financial reporting risk, etc.) where reputation risk is one of the most common reasons for performing internal audit. Areas where internal audit can be done are human resources strategic management, workforce planning and selection; training and development; compensation and benefit system; employee and labor relations; human resources information systems, etc. As the most important areas of HR compensation internal audit there are emphasized overall plan design, cash and stock-ba...

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Corporate enterprises develop specific systems of rewarding managers for successful performances. By taking into account the need of creating shareholder value, it is necessary to implement method for measuring performance that would satisfy the objectives of shareholders and managers' interests. The optimal compensation model assumes that managers are motivated to create added value for shareholders. One method for modeling the reward system is economic value added (EVA). Economic value added represents a very attractive instrument for measuring corporate performances and its management. The subject of this paper was the analysis of the economic value added in function of creating incentive systems for managers, as well as the advantages and disadvantages of application of this method. Economic value added was presented as a concept that brings the objectivity in the system of modeling long-term incentives for managers and, thereby, reduces the risks associated with the incentive system.

Сажетак:У раду су истражене перформансе пословања сектора за пружање ревизорских услуга у Републици Србији у периоду [2009][2010][2011]. година са аспекта прегледа општих карактеристика по питању броја, величине ревизорских фирми и кретање запослености, као и са аспекта анализе приносног положаја која обухвата анализу пословног прихода, финансијског резултата и рентабилности. У наведеном периоду приметан је пораст броја предузећа за ревизију и пораст броја запослених у сектору за пружање ревизорских услуга. Просечан пословни приход, финансијски резултат и просечне стопе приноса бележе тенденцију пада у периоду 2009-2011. године. И поред тога, сектор за пружање ревизорских услуга је рентабилан, обзиром да се остварује позитиван просечан финансијски резултат, а тиме и позитиван принос на улагања. Кључне речи: ревизорска фирма, сектора за пружање ревизорских услуга, перформансе.Abstract: This paper presents the performances of the sector for the providing of audit services in the Republic of Serbia in the period 2009-2011. from the point of views of general characteristics in terms of number, size of audit firms and employment trends, as well as in terms of the analysis of operating revenues, financial results and profitability. During this period there has been an increase in the number of audit firms and increase the number of employees in the sector for the provision of audit services. Furthermore, in this period the value of average operating revenues, financial result and average rate of returns recorded a decreasing trend. Nevertheless, the sector for the providing of audit services is profitable, given that the average financial result is positive, and thus a positive return on investment.