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Modern Risk Management Strategies for the Romanian State Treasury

Author

Listed:
  • Cosma, Dorin
  • Cosma, Octavian

Abstract

This paper is exploring the introduction and modernization of corporative governance in public institutions, specifically in the Romanian State Treasury, by standardizing the risk evaluation in audit (RBIA). The authors are considering that achieving results in the country's progress is impossible by only implementing imported external solutions - for optimal results adjustments to internal and external historical characteristics and local interests are required. This requirement is reinforced by analyzing the economical devlopments that have taken place during the last 20 years (since migrating the economy from a centralized state to free markets), which also supports the authors' premise that further significant development is possible if the proper methods are put in place.

Suggested Citation

  • Cosma, Dorin & Cosma, Octavian, 2009. "Modern Risk Management Strategies for the Romanian State Treasury," MPRA Paper 20425, University Library of Munich, Germany, revised 23 Nov 2009.
    • Handle: RePEc:pra:mprapa:20425
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    File URL: https://mpra.ub.uni-muenchen.de/20425/1/MPRA_paper_20425.pdf
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    More about this item

    Keywords

    governance; risk; evaluation; management; audit; analysis;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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