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Development Of The Accounting Profession In Albania In The New Era Of Market Economy

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Author Info

  • Rezarta Shkurti

    (Faculty of Economy, Tirana University, Albania)

  • Brikena Leka

    (Faculty of Economy, Tirana University, Albania)

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    Abstract

    In this paper we give an overview of the most important developments that the accounting profession has experienced ever since Albania switched from a closed economy to an open market one. We put forth a discussion about the factors that recently seem to represent major challenges for the accountants. We identify as two of the most important and emergent challenges the technology innovations and the globalization trend in accounting and financial reporting. Since computers began to be widely used in industry the impact of technology has been strong on the way that the accounting transactions are processed and on the financial and fiscal reporting. The use of computerized accounting software is constantly rising and more and more complex packages customized for the specific need of the domestic companies are being developed in Albania. This has presented an ever increasing need for more trainings and specializations of accountants in information and communication technology. Another important development is the globalization of accounting and financial reporting. The implementation of the new National Accounting Standards in Albania in 2008 fully complying with the IAS/IFRS, presents a major change in the accounting environment in Albania. We conclude the paper with some recommendations about several actions that might be taken to smooth the effects of these latest changes and challenges that the accountants are facing.

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    File URL: http://eccsf.ulbsibiu.ro/RePEc/blg/journl/5316shkurti&leka.pdf
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    Bibliographic Info

    Article provided by Lucian Blaga University of Sibiu, Faculty of Economic Sciences in its journal Studies in Business and Economics.

    Volume (Year): 5 (2010)
    Issue (Month): 3 (December)
    Pages: 247-258

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    Handle: RePEc:blg:journl:v:5:y:2010:i:3:p:247-258

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    Postal: Lucian Blaga University of Sibiu, Faculty of Economic Sciences Dumbravii Avenue, No 17, postal code 550324, Sibiu, Romania
    Phone: 004 0269 210375
    Fax: 004 0269 210375
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    Web page: http://economice.ulbsibiu.ro/
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    Related research

    Keywords: internal audit; efficiency; effectiveness; risk audit; system audit; performance audit; regularity audit;

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