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Internal Control - Crucial Factor in Ensuring the Quality of Financial Information

Author

Listed:
  • Cornel IONESCU

    () (SpiruHaret University, Ion Ghica, no. 13, Bucharest, 030045, Romania, Tel: +40214551000, Fax: +40213143900)

  • Cicilia IONESCU

    () (SpiruHaret University, Ion Ghica, no. 13, Bucharest, 030045, Romania, Tel: +40214551000, Fax: +40213143900)

Abstract

The trends of internationalization of the economies, of increased competition and of national and international competitiveness, bring Romanian companies in the need for credibility and transparency regarding their reporting. Inevitably , in this current context, rises the need for a management and control system in the service of a good governance, the development and implementation of accounting policies and procedures tailored to every company, the establishment of clear requirements for presenting the information in the accounting reports. Special importance is given to internal control and audit, as a preamble to the certification of annual accounts by independent auditors.

Suggested Citation

  • Cornel IONESCU & Cicilia IONESCU, 2015. "Internal Control - Crucial Factor in Ensuring the Quality of Financial Information," International Conference on Economic Sciences and Business Administration, Spiru Haret University, vol. 2(1), pages 163-171, December.
  • Handle: RePEc:icb:wpaper:v:2:y:2015:i:1:163-171
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    File URL: http://icesba.eu/RePEc/icb/wpaper/ICESBA2015_20Ionescu_p163-171.pdf
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    Citations

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    Cited by:

    1. Luminita Ionescu, 2016. "The Role of Accounting and Internal Control in Reducing Bureaucracy in the Public Sector," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 5(4), pages 46-51, December.
    2. Cicilia Ionescu & Cornel Ionescu, 2016. "Basics and Alternatives Concerning the Measurement of Company Performances," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 5(2), pages 15-22, June.

    More about this item

    Keywords

    internal control; accounting information; decision making; utility noncompliance; credibility; accounting principles.;

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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