IDEAS home Printed from https://ideas.repec.org/a/cbu/jrnlec/y2016v4p115-119.html
   My bibliography  Save this article

The Importance Of Modeling The Formation And Effectiveness Of Internal Control Mechanism In Transition Countries Such As The Republic Of Serbia

Author

Listed:
  • SLOBODAN POPOVIC

    (JKP GRADSKO ZELENILO, SUTJESKA 2, 2100 NOVI SAD, SERBIA)

  • RANKO MIJIC

    (COLLEGE OF ECONOMICS AND STATISTICS PRIJEDOR, STREET MITROPOLITA PETRA ZIMONJICA BB, 79000 PRIJEDOR, BOSNA I HERCEGOVINA)

  • NIKOLA VOJVODIC

    (UNIVERZTITET PIM BANJA LUKA, DESPOTA STEFANA LAZAREVICA BB, BOSNIA AND HERCEGOVINA)

  • VESNA PETROVIC

    (BRANCH MANAGER CREDIT AGRICOLE BANK, KRALJA PETRA I/ 4, 35250 PARACIN, SERBIA)

  • SLAVICA SILJANOSKA

    (UNIVERSITY UNION NIKOLA TESLA, 11000 BELGRADE, SERBIA)

Abstract

The authors of this paper have tried to use the importance of the use of internal control in business, especially since there are a number of public and other companies that operate without the existence of internal control mechanics. It is particularly important to establish in the public sector because the same business with taxpayers' money. Thus the modeling can be a useful tool to get to the assurances regarding the importance of establishing internal controls and internal control mechanisms in the ordinary course of business. In addition, the establishment of internal controls, improve the safety of operations, and to achieve this it is necessary to devise a means of whom will be enhanced reporting management. Surely reports to management are an essential prerequisite for making valid and timely decisions to increase business performance. The authors have provided a model imbued with meaning by which will be enhanced reporting management, the authors point out that there is no universal model, and this is just one possible approach to this problem.

Suggested Citation

  • Slobodan Popovic & Ranko Mijic & Nikola Vojvodic & Vesna Petrovic & Slavica Siljanoska, 2016. "The Importance Of Modeling The Formation And Effectiveness Of Internal Control Mechanism In Transition Countries Such As The Republic Of Serbia," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 115-119, August.
    • Handle: RePEc:cbu:jrnlec:y:2016:v:4:p:115-119
    as

    Download full text from publisher

    File URL: http://www.utgjiu.ro/revista/ec/pdf/2016-04/17_Popovic,%20Mijic.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Slobodan Popović & Jelena Tošković & Aleksandar Majstorović & Sandra Brkanlić & Andrea Katić, 2015. "The Importance Of Continuous Audit Of Financial Statements Of The Company Of Countries Joining The Eu," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 0, pages 241-246, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tereshchenko Maryna, 2020. "Conducting an audit using system modeling tools in the development of deposits of flux raw materials," Technology audit and production reserves, Socionet;Technology audit and production reserves, vol. 4(4(54)), pages 4-8.
    2. Maja Jokic & Bogdan Laban & Ivan Arnautovic & Ranko Mijic & Dalibor Doncic, 2020. "Decision Of The Top Management After The Decision To Establish An Internal Audit In A Company Operating Basically In The Field Of Agricultural Activity On The Example Of The Republic Of Serbia," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 18-24, April.
    3. Ivan Arnautovic & Goran Vitomir & Veljko Samardzic & Tatjana Davidov & Sanda Nastic & Slobodan Popovic, 2021. "The Importance Of Preparation Of Financial Statements In The Process Of Making Significant Management Decisions By Top Management In Enterprises," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 97-103, August.
    4. Jelena Vitomir & Bogdan Laban & Ognjen Bakmaz & Nikola Nikolic & Mrdan Colovic, 2019. "Audit As A Possible Way To Improve Corporate Governance With An Overview Of Possible Models Of Determining The Risk Interval And Some Of The Basic Impact Factors Identified By Top Management," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 23-29, April.
    5. Jelena Vitomir & Milena Lutovac & Sonja Tomas-Miskin & Nemanja Barovic & Drazen Vrhovac & Dragana Popovic, 2020. "The Importance Of Making Important Business Decisions In Industry From The Aspect Of Growth And Development Of Industrial Enterprises In Transition Countries," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 28-34, February.
    6. Ivanka Vranic & Veljko Samardzic & Tatjana Davidov & Zeljko Grubljesic & Slobodan Popovic, 2021. "Significance Of Consideration Of Internal Control And Internal Audit In The Business Of Companies That Need To Implement The Implementation Mentioned Within The Accounting Policy Of The Company," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 37-44, June.
    7. Jelica Eremic-Dodic & Slobodan Popovic & Vera Popovic & Jelena Bosnjak & Vasilije Dodic, 2017. "The Importance Of The Implementation Of It Audits In Agricultural Enterprises Of The Republic Of Serbia In Order To Increase Safety Management And Risk Determination Interval," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 91-97, April.
    8. Slobodan Popovic & Ljubica Ivic & Dragan Duranovic & Ranko Mijic & Mladen Ivic, 2016. "The Importance Of Establishing A Financial Analysis In Serbia," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 184-188, October.
    9. Maja Jokic & Bogdan Laban & Ivan Arnautovic & Dragana Popovic & Slobodan Popovic, 2020. "Making Business Decisions In Industrial Companies In The Transition Country, By The Case Of The Republic Of Serbia," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 4-11, April.
    10. MAJA JOKIC & BOGDAN LABAN & IVAN ARNAUTOVIc & DRAGANA POPOVIc & SLOBODAN POPOVIc, 2020. "The Importance Of Preparing An Internal Audit Report In Reporting To Top Management Of A Company That Makes Key Management Decisions In Its Work," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 37-44, April.
    11. Birsena Duljevic, 2023. "Making Valid Decisions By Top Management And Modern Trends Of Tourism Offer In Small Economies, As An Example Of The Republic Of Serbia," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 120-126, October.
    12. Colovic Mrdan & Jakovljevic Sanja & Bogdan Laban, 2018. "The Importance Of The Application Of Fair Value Of The Company'S Property In Transitional Countries On The Way To The Eu," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 18-25, April.
    13. Sanda Nastic & Borislav Maric & Bogdan Laban & Vesna Petrovic & Aleksandar Majstorovic, 2019. "Managing A Business Through Valid Business Decision Making With The Goal Of Achieving Positive Results That Can Be Internationally Valued," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 14-21, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbu:jrnlec:y:2016:v:4:p:115-119. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ecobici Nicolae (email available below). General contact details of provider: https://edirc.repec.org/data/fetgjro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.