engleski

The Audit Profession in the Balkans

Most of the Balkans’ countries were under the communist regime until the 90’s and therefore had no need for auditors as the economy was in most cases a centralized one. The auditing profession birth came naturally as a requirement of the new processes undertaken after the 90’s. Therefore, we have decided to analyze the development and the characteristics of the audit profession in some of the countries in the Balkans, namely Albania, Bulgaria, Croatia, Macedonia, Romania and Serbia. The development of audit profession in the Balkans was very dynamic during the observed period, and still has many opportunities for its improvement. Namely, while in the formal sense, the profession is up to date with contemporary EU legislation it still lacks more effective monitoring and enforcement actions. The major improvement should also be made in education and cooperation between all participants of the financial reporting process in order to enhance the quality of accounting and auditing practice in the Balkans. The purpose of the present study was to identify the main similarities and differences between the evolution the audit profession in different countries in the Balkans. This can offer other researchers the background for detailed analyses of specific audit problems that can have a major impact on the economic life in this special geographic area.

Audit; ethics; quality of audit missions; professional organisms

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