Documente Academic
Documente Profesional
Documente Cultură
122 - 2/2015
2/2015
Incursiune n
cercetarea de audit
i contabilitate
Incursion in the
Audit and Accounting
Research
l Reflections on Accounting
contabil
l Managementul rezultatului
i calitatea raportrii
l Prezena femeilor
n comitetele de audit
l Situaii financiare
consolidate
Measure
l Earnings Management and the
Quality of Reporting
l The Women Presence into the
Audit Committees
l Consolidated Financial
Statements
Sumar / Content
Alain BURLAUD, Claude SIMON
Elena NECHITA
Carmen-Alexandra BALTARIU
Director tiinific:
prof. univ. dr. Pavel NSTASE
Director editorial:
dr. Corneliu CRLAN
Redactor ef:
Cristiana RUS
Secretar de redacie:
Cristina RADU
Prezentare grafic i tehnoredactare:
Nicolae LOGIN
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Audit financiar,
XIII, Nr.msurarea
2(122)/2015, 3-9contabil: prioritatea bilanului sau a contului de rezultate?
Reflecii
privind
ISSN: 1583-5812; ISSN on-line: 1844-8801
Reflecii
privind
msurarea
contabil:
prioritatea
bilanului sau
a contului de
rezultate ?
Rezumat
Contabilitatea se bazeaz n special pe dou tiine:
metrologia - tiina msurri i taxonomia - tiina
clasificrii i reduce complexitatea unei entiti la cteva
cifre. Acest articol constituie un demers spre punerea n
discuie a conceptului de msurare i a modului n care
este utilizat acesta n contabilitate.
Trecerea de la costul istoric la valoarea de pia sau
controversa referitoare la prioritatea acordat stocului
sau fluxurilor sunt, n opinia autorilor, evenimente legate
de modul de guvernan al organizaiilor, care
genereaz comportamente, drepturi i obligaii ce
afecteaz ansamblul societii. De aceea, societatea nu
poate ignora n ce msur funcia principal a
contabilitii - reprezentarea fidel - este sau nu
ndeplinit.
Cuvinte-cheie: contabilitate, msurare, cost, valoare,
stocuri, fluxuri
Clasificare JEL: M41
ESCP Europe
Nr. 2(122)/2015
Introducere
Frenezia cuantificrii reprezint patologia care const n
dorina de a exprima totul n cifre. Neologismul a fost
imaginat de ctre sociologul Pitrim Alexandrovitch
SOROKIN n prima jumtate a secolului al XX-lea. Da,
lumea noastr este cuantofren. De ce? Nu exist
tiin fr msurare, respectiv fr cifre. Ori, n dou
secole, progresele tiinei au fost nu numai incontestabile,
ci inimaginabile. Chiar Jules Verne nu le-ar fi putut
imagina! De unde caracterul cvasi-divin al cifrelor utilizate
care a avut prioritate. Astfel, cifra a devenit argumentul
inevitabil al oricrui om politic n lips de credibilitate.
Totui, este cunoscut faptul c statisticile ministerului de
interne asupra delincvenei sunt rafinate prin intermediul
directivelor comisariatelor prin care curbele omajului sunt
degresate etc. Dar, din cauza faptului c ndoiala este o
stare mental dezagreabil, ne place s credem c cifra
exprim o certitudine. ntr-o lume cuprins de frenezia
cuantificrii, contabilitatea a descoperit un ecosistem prin
care poate prospera. Aceasta nu constituie numai o
afacere a comercianilor, ci se refer la tot ceea ce are
legtur cu toate organizaiile sau entitile: asociaii,
colectiviti publice (teritoriale, stat, persoane morale de
drept public internaional etc.), partide politice, conturi ale
diverselor campanii electorale, sindicate, ordine religioase
etc. Ea cerceteaz i colectiviti fr personalitate
moral, aadar fr patrimoniu propriu, similar naiunilor
care aplic o contabilitate naional.
Contabilitatea se sprijin pe numeroase tiine: drept,
economie, management etc. Dar nregistrarea contabil
se bazeaz mult mai precis pe dou dintre acestea:
tiina msurrii (metrologia) i tiina clasificrii
(taxonomia). ntr-adevr, contabilitatea unei operaii
presupune cunoaterea msurrii acesteia, atribuindu-i
o valoare exprimat n uniti monetare i ordonnd-o n
mai multe categorii (activ sau cheltuial? pasiv sau
venit?). Evident, aceasta nu explic importana rolului pe
care societile actuale l acord conturilor.
Din cea mai veche antichitate, oamenii au numrat
pentru a controla. Era necesar o msurare verificabil
a numrului de animale care compuneau o turm
ncredinat unui pstor. Mai trziu, comercianii trebuiau
s poat verifica situaia trezoreriei, creanelor i
datoriilor lor. Aceast funcie a contabilitii este
ntotdeauna de actualitate i, dac ar fi singura funcie,
contabilitatea ar rmne o afacere privat. Astfel, fiecare
gospodrie este liber s-i in sau nu conturile
conform metodei pentru care opteaz.
4
Nr. 2(122)/2015
Nr. 2(122)/2015
Concluzie
Pentru ce msurarea contabil ar fi ea nsi o miz a
societii? Ea creeaz (1) comportamente i (2) drepturi
care (3) afecteaz publicul nsui, chiar dac nu a avut
relaie contractual cu entitatea respectiv (externaliti).
Msurarea contabil produce semne care genereaz
comportamente. Aceste semne sunt elemente ale
guvernanei organizaiilor. Astfel, spre exemplu, atunci
cnd conductorul salariat al unei ntreprinderi risc s
nu ndeplineasc obiectivul de rentabilitate a capitalurilor
proprii, el va fi tentat:
BIBLIOGRAFIE
Burlaud, A., Simon, C. (1999), Controlul de gestiune,
Bucureti, Editura CNI Coresi
Burlaud, A. et al. (2004), Contrle de gestion, Paris,
Vuibert
Desrosires, A. (2008), Pour une sociologie historique
de la quantification, Paris, Mines ParisTech
Desrosires, A. (2008), Gouverner par les nombres,
Paris, Mines ParisTech
Guedj, D. (2010), Le mtre des Lumires, premire
Nr. 2(122)/2015
Managementul
rezultatului i
calitatea
raportrii
financiare:
O analiz comparativ
pre-post aplicare IFRS
pentru societile
cotate la Bursa de
Valori Bucureti
Rezumat
Cercetarea urmrete analiza fenomenului de
management al rezultatului n condiiile implementrii
Standardelor Internaionale de Raportare Financiar
(IFRS) pentru situaiile financiare individuale ntocmite
de ctre companiile listate la Bursa de Valori Bucureti
(BVB), ca o cerin de reglementare ncepnd cu
exerciiul financiar 2012. Debutnd cu descrierea
cadrului legislativ de raportare financiar din Romnia,
cercetarea dezvluie prin intermediul unei analize
comparative pre-post IFRS n ce msur exist dovezi
ale practicilor de netezire a rezultatului pentru
companiile listate la BVB dup adoptarea IFRS, precum
i dac valorile contabile ale acestor firme prezint o mai
mare relevan din punct de vedere al evoluiei preului
aciunilor odat cu trecerea la IFRS. Cercetarea
contribuie la mbogirea literaturii de specialitate prin
punctarea implicaiilor adoptrii IFRS la nivelul
economiilor emergente.
Cuvinte-cheie: managementul rezultatului, calitatea
raportrii financiare, Standardele Internaionale de
Raportare Financiar, societi cotate, Bursa de Valori
Bucureti
Clasificare JEL: M41
10
Introducere
La nivel mondial are loc un proces de internaionalizare a
ntreprinderilor, n special prin extinderea aplicrii
Standardelor Internaionale de Raportare Financiar
(International Financial Reporting Standards IFRS,
engl.), proces determinat de schimburile de capitaluri i
informaii care depesc graniele pieelor locale i care
conduc la constituirea grupurilor de interese. Cercetri
anterioare au evideniat c, pentru cea mai mare parte a
companiilor, valoarea capitalului deinut de proprietari
calculat conform IFRS este sau se ateapt s fie mai
mare dect cea a capitalului calculat prin aplicarea
normelor contabile naionale (Jermakowicz et al., 2006),
iar aseriunea unanim este aceea c trecerea la IFRS
reprezint un proces att costisitor, ct i complex.
Studiind influena adoptrii obligatorii a IFRS, Christensen
et al. (2013) au artat c la nivelul tuturor rilor analizate,
dintre care 20 membre ale Uniunii Europene, 2 ri
membre ale Zonei Economice Europene, precum i alte
11 state din afara UE, raportarea obligatorie n conformitate cu IFRS are un impact sczut asupra lichiditilor i
nu genereaz niciun beneficiu cu privire la piaa de capital
ca urmare a implementrii acestor standarde.
Alte cercetri dezvoltate pe analiza managementului
rezultatului dup implementarea IFRS ndeosebi de
ctre economiile emergente au condus la obinerea unor
rezultate variate, n anumite cazuri acestea fiind chiar
contrare (Karampinis i Hevas, 2013; Lin i Wu, 2014).
Pe de o parte, Karampinis i Hevas (2013),n studiul
efectuat la nivelul societilor din Grecia, sugereaz c
reducerea interferenei fiscalitii n contabilitate inerent
adoptrii IFRS limiteaz influena unui important
determinant al practicilor manageriale oportuniste i, n
consecin, conduce la reducerea managementului
rezultatului. Pe de alt parte, Lin i Wu (2014), n
cercetarea condus la nivelul societilor din Taiwan,
furnizeaz rezultate conform crora managerii din
statele emergente au o motivaie mai puternic n ceea
ce privete manipularea rezultatelor prin alterarea
valorilor contabile. O posibil explicaie pentru
rezultatele contrastante ale studiilor efectuate la nivel de
ar este oferit de Albu et al. (2013) i se refer la
faptul c au fost trecute cu vederea particularitile
contextelor individuale sau maniera n care aceste
caracteristici influeneaz aplicarea IFRS, respectivele
studii rezumndu-se doar la evidenierea dificultilor
ntmpinate la aplicarea IFRS sau a nivelului sczut de
conformitate.
Nr. 2(122)/2015
Metodologia cercetrii
Cercetarea propune analiza existenei practicilor de
netezire a rezultatului, precum i analiza relevanei
valorilor contabile la nivelul societilor cotate la Bursa
de Valori Bucureti, n condiiile implementrii IFRS
pentru situaiile financiare individuale, ca o cerin de
raportare financiar ncepnd cu exerciiul financiar
2012.
11
Elena NECHITA
Frecven
Procent
2
1
1
1
1
1
28
1
3
39
5,1
2,6
2,6
2,6
2,6
2,6
71,8
2,6
7,7
100,0
Procent cumulat
5,1
7,7
10,3
12,8
15,4
17,9
89,7
92,3
100,0
Clasificarea industriilor conform International Standard Industrial Classification of All Economic Activities, Rev.4
i) variaia rezultatului net raportat la total active (NI) interpretnd o variaie mai mic a indicatorului ca reprezentnd
un indiciu de netezire a rezultatului:
NI it= 0+ 1SIZEit+ 2GROWTHit+ 3EISSUEit+ 4LEV it+ 5DISSUEit+ 6TURNit+ 7CF it+ 8AUDit+ it,
(1)
unde:
SIZE = logaritm natural din valoarea de pia a capitalului;
GROWTH = variaia vnzrilor;
EISSUE = variaia numrului de aciuni;
LEV = datorii totale raportat la total capitaluri proprii;
DISSUE = variaia datoriilor totale;
TURN = vnzri raportate la total active;
CF = fluxuri nete de trezorerie raportat la total active;
AUD = indicator care este 1 dac auditorul este din cadrul Big 4 (PwC, KPMG, E&Ysau D&T) i 0 n caz contrar.
ii) variaia fluxurilor nete de trezorerie (CF), raportat la variaia rezultatului net (NI), pstrndu-se variabilele din
ecuaia (1) societile cu un cash flow volatil sunt caracterizate i de un rezultat net volatil; dac firmele folosesc
tehnici de manipulare a rezultatului, atunci variaia rezultatului net ar trebui s fie mai mic dect variaia fluxurilor de
trezorerie:
CF it= 0+ 1SIZEit+ 2GROWTHit+ 3EISSUEit+ 4LEV it+ 5DISSUEit+ 6TURNit+ 7CF it+ 8AUDit+ it
(2)
iii) corelaia Spearman dintre fluxurile nete de trezorerie (CF) i alte elemente care nu au impact asupra lichiditilor
(ACC - accruals, engl.), acestea din urm fiind calculate ca diferen ntre NI i CF. O legtur mai puternic ntre
cele dou elemente reprezint un indiciu c nu sunt utilizate practici de netezire a rezultatelor prin intermediul
contabilitii de angajamente. n acest sens sunt comparate valorile reziduale obinute n urma aplicrii regresiilor pe
baza ecuaiilor de mai jos (din modelul de regresie se exclude variabila CF):
CF it= 0+ 1SIZEit+ 2GROWTHit+ 3EISSUEit+ 4LEV it+ 5DISSUEit+ 6TURNit+ 7AUDit+ it;
(3)
ACC it= 0+ 1SIZEit+ 2GROWTHit+ 3EISSUEit+ 4LEV it+ 5DISSUEit+ 6TURNit+ 7AUDit+ it
(4)
Nr. 2(122)/2015
13
Elena NECHITA
(5)
unde:
P = valoarea aciunii;
BVEPS = capital propriu/aciune;
NIPS = rezultat net/aciune;
Mergnd pe urmele cercetrilor anterioare (Barth et al.,
2008 i Lang et al., 2006), n vederea asigurrii faptului
c informaia contabil a fost fcut public, preurile
aciunilor au fost evaluate la trei luni de la data nchiderii
exerciiului financiar. Aplicnd modelul de regresie dat
de ecuaia (5), analizm valoarea R2 obinut, interpretnd un rezultat mai mare ca reprezentnd un indiciu
al unei relevane a valorii contabile mai ridicate pentru
societile cotate la BVB, explicat de o corelaie mai
puternic ntre preurile aciunilor i valorile contabile.
Rezultatele cercetrii
n vederea efecturii analizei de tipul pre-post aplicare
IFRS, metodologia cercetrii, aa cum a fost expus
anterior, a fost aplicat secvenial asupra celor 39 de
societi ce formeaz eantionul, nti pentru perioada
de timp 2010-2013 cu aplicare IFRS, iar apoi pentru
perioada de timp 2005-2010 cu aplicare a
reglementrilor naionale. Se formeaz astfel dou subeantioane, primul care aplic IFRS cuprinznd un
numr de 117 observaii firm-an aferente celor 3
intervale de timp din perioada 2010-2013, respectiv al
doilea, care aplic reglementrile naionale, format dintrun numr de 195 observaii firm-an aferente celor 5
intervale de timp cuprinse n perioada 2005-2010. Dup
cum s-a menionat i anterior, exerciiul financiar 2010
este primul din seria de timp pentru care societile au
prezentat n situaiile financiare individuale informaii
14
NI
CF
CF
ACC
P
BVEPS
SIZE
GROWTH
EISSUE
LEV
DISSUE
TURN
AUD
N
Post-IFRS 2010-2013
Abatere
Variabile
Medie Median
medie
ptratic
Variabile de test
Variaia rezultat net/total active
-0.1971 -0.1376
1.3618
Variaia flux net de trezorerie/total active
0.1444 -0.0636
1.0768
Flux net de trezorerie/total active
0.0698 0.0263
0.0888
Accruals (NI - CF)/total active
-0.0629 -0.0479
0.1037
Pre aciune
0.5935 0.4143
0.6007
Capital propriu/nr. aciuni
0.9308 0.4849
1.7011
Variabile de control
LN(Capitalizare bursier)
17.8524 17.6314
1.9937
Variaia CA (%)
0.0265 0.0408
0.2155
Variaia nr. Aciuni(%)
0.0153 0,0000
0.0936
Datorii totale/Capitaluri proprii
0.1861 0.3555
6.4998
Variaia datorii totale (%)
0.1780 0.0365
0.9328
CA/total active
0.6917 0.6488
0.3775
Auditor Big 4 = 1/alii= 0
0.2927 0.0000
0.4578
Nr. observaii
82
82
82
Pre-IFRS 2005-2010
Abatere
Medie
Median
medie
ptratic
-0.0685
0.2482
0.0561
-0.0515
0.7556
0.0012
-0.2654
-0.0055
0.0262
-0.0169
0.4010
0.0004
1.1738
1.1174
0.0729
0.0997
0.9565
0.0024
18.0341
0.0251
0.2899
1.0231
0.1693
0.7092
0.2366
131
17.8922
0.0269
0,0000
0.4912
0.1130
0.6644
0.0000
131
1.8737
0.2772
2.5450
7.4319
0.4610
0.3492
0.4267
131
Nr. 2(122)/2015
Post-IFRS 2010-2013
R2
F
Sig.
0,1283
1,3430
0,2360
0,1169
1,2082
0,3060
DW
1,9722
2,1910
N
131
131
Pre-IFRS 2005-2010
R2
F
Sig.
0,0243
0,3803
0,9290
0,1235
2,1497
0,036**
DW
2,0837
2,0796
15
Elena NECHITA
Post-IFRS 2010-2013
Abaterea
Media
medie
Variana
ptratic
0,0000
1,2715
1,6166
0,0000
1,0119
1,0240
Pre-IFRS 2005-2010
Abaterea
Media
medie
Variana
ptratic
0,0000
1,1594
1,3443
0,0000
1,0461
1,0943
Diferen n
varian (%)
+20,26%
-6,42%
1,5787
1,2285
+28,50%
82
131
CF*
ACC*
Correlation Coefficient
Sig. (2-tailed)
N
Correlation Coefficient
Sig. (2-tailed)
N
Post-IFRS 2010-2013
Pre-IFRS 2005-2010
CF*
CF*
1,0000
1,0000
82
-0,6520***
0,0000
82
ACC*
-0,6520***
0,0000
82
1,0000
82
131
-0,4590***
0,0000
131
ACC*
-0,4590***
0,0000
131
1,0000
131
Post-IFRS 2010-2013
Pre-IFRS 2005-2010
0,3602
22,2402
19,4831
0,0000
2,3209
0,7790***
0,4420***
82
0,3446
33,6435
19,4879
0,0000
2,0341
0,5220***
0,4020***
131
Nr. 2(122)/2015
17
Elena NECHITA
Ipoteza
Post-IFRS 2010-2013
Pre-IFRS 2005-2010
82 de observaii
131 de observaii
1,6166
1,5787
-0,6520
1,3443
1,2285
-0,4590
0,3602
0,3446
18
BIBLIOGRAFIE
Albu C.N., Albu N., Alexander D. (2013), When global
accounting standards meet the local context -Insights
from an emerging economy, Critical Perspectives on
Accounting disponibil la <http://dx.doi.org/10.1016/
j.cpa.2013.03.005>, accesat 14 martie 2014
Barth M., Landsman W., Lang M. (2008), International
Accounting Standards and accounting quality,
Journal of Accounting Research, nr. 3, pp. 467-498
Cai L., Rahman A., Courtenay S. (2014), The effect of
IFRS adoption conditional upon the level of preadoption divergence, The International Journal of
Accounting, nr, 49, pp. 147-178
Christensen H.B., Hail L., Leuz C. (2013), Mandatory
IFRS reporting and changes in enforcement, Journal
of Accounting and Economics, nr. 56, pp. 147-177
Dechow P., Sloan R., Sweeny A. (1995), Detecting
earnings management, The Accounting Review, pp.
193-225
Hodgson A., Nechita E. (2013), Calculul rezultatului
global n conformitate cu IFRS: Risc ridicat de audit
Nr. 2(122)/2015
Elena NECHITA
20
***OMFP nr. 1802/2014 pentru aprobarea reglementrilor contabile privind situaiile financiare anuale
individuale i situaiile financiare anuale consolidate,
publicat n Monitorul Oficial al Romniei nr. 963,
Partea I, din 30 decembrie 2014
***OMFP nr. 3055/2009 pentru aprobarea reglementrilor contabile conforme cu directivele europene,
publicat n Monitorul Oficial al Romniei, Partea I, nr.
766/10.11.2009, disponibil la<http://static.anaf.ro/
static/10/Anaf/legislatie/OMFP_3055_2009.pdf>,
accesat 24 aprilie 2012
*** OMFP nr. 1752/2005 pentru aprobarea reglementrilor
contabile conforme cu directivele europene, publicat n
Monitorul Oficial al Romniei, nr. 1080/30.11.2005,
disponibil la <http://www.legex.ro/ Ordin-1752-200554422.aspx >, accesat 25 aprilie 2012
***OECD, World Bank and USAID (2001), South East
Europe Corporate Governance Roundtable Corporate Governance Program for Romania,
disponibil la <http://www.oecd.org/daf/ca/corporategovernance principles/2390809.pdf>, accesat 15
iunie 2013
Informaiile
financiare i
non-financiare
ntre raportare
sustenabil i
raportare
integrat
Rezumat
Ca urmare a presiunilor exercitate de o larg gam de
utilizatori ai informaiilor financiare i non-financiare, n
ultimii ani concepte precum raportarea sustenabil i
raportarea integrat au nceput s ctige teren n
defavoarea raportrii financiare tradiionale. O serie de
organisme naionale i internaionale reclam la ora
actual poziia de lider n elaborarea de ghiduri,
standarde i reglementri privind raportarea nonfinanciar ca o modalitate complementar de a furniza
informaii ctre categoriile interesate de utilizatori.
Rolul acestui articol este de a clarifica conceptele de
raportare sustenabil i raportare integrat care
influeneaz de o manier semnificativ evoluiile
viitoare ale raportrii externe de informaii de ctre
marile companii care activeaz la nivel transnaional. n
acest context sunt analizai i principalii juctori n lupta
pentru stabilirea unor standarde unitare pentru
furnizarea de informaii non-financiare, precum i
impactul pe care deciziile luate de aceste organisme l-ar
putea avea asupra profesiei de auditor.
Cuvinte cheie: raportare integrat, raportarea
sustenabilitii, profesia de auditor, asigurare
Nr. 2(122)/2015
21
1. Introducere
ntr-o lume n continu schimbare este dificil de evaluat
progresul spre un viitor mai sustenabil. Mai mult dect
att, obiectivele pe termen lung ale raportrii sustenabilitii, ale unui mediu durabil i ale responsabilitii
sociale pot reprezenta uneori interesele unor eforturi
concurente deoarece, aa cum Norgaard (1988)
observ, "Dezvoltarea sustenabil va impune ca
utilizarea de energie i substane chimice s fie
subordonate ntreinerii ecosistemului" (p. 606).
Atingerea performanei economice prin demonstrarea
unei reale responsabiliti sociale corporative i de
protejare a mediului nconjurtor ar putea fi cea mai
mare provocare creia ar trebui s i fac fa omenirea.
Ca i concept exhaustiv, raportarea sustenabilitii i
propune s asiste organizaiile n stabilirea obiectivelor
i msurarea performanei lor, contribuind n acelai
timp la o economie sustenabil. Fcnd referire la
relevana subiectului, putem aprecia c literatura de
specialitate este destul de bogat. Hahn & Kuhnen
(2013) efectueaz pentru perioada 1999-2011 o
revizuire a 178 de articole tematice publicate n reviste
de afaceri, de management i de contabilitate. Ei
observ c nu sunt suficiente studii ale celor mai recente
evoluii i c exist unele lacune de cercetare n
reglementri, guvernare, calitatea raportrilor i
percepia prilor interesate.
Adams & Frost (2008) abordeaz modul n care
indicatorii cheie de performan referitori la
sustenabilitate sunt integrai n procesul de luare a
deciziilor, n planificarea i managementul performanei,
bazat pe anumite interviuri cu persoane britanice i
australiene. Ei au gsit dovezi pentru integrarea, n
cazul acestor societi, a indicatorilor de mediu i sociali.
Cu toate acestea, n ciuda unor presiuni globale asupra
companiilor, cu scopul de a se raporta ntr-un mod mai
clar, concis i elocvent justificarea performanei
companiei i impactul acesteia asupra societii i
mediului, se observ c nu prea multe companii au
inserat i aspecte ale problemelor legate de
sustenabilitate i rezultate din modelul lor de afaceri i
strategia acestora, precum i din procesele acestora.
Moneva et al. (2006) observ c "unele organizaii care
se eticheteaz ca raportori ai Iniiativei de Raportare
Global (Global Reporting Initiative-GRI) nu se comport
ntr-un mod responsabil n ceea ce privete publicarea
legat de sustenabilitate, cum ar fi cele privitoare la
emisiile de gaze, echitatea social sau drepturile omului"
22
Nr. 2(122)/2015
2. Metodologia de cercetare
Din punct de vedere metodologic, utilizm instrumentele
cercetrii calitative, deoarece acest tip de analiz este
cel mai n msur s conduc la nelegerea n
profunzime a conceptelor i a instituiilor implicate. n
plus, acest tip de cercetare intenioneaz s identifice
tendine, conexiuni, precum i asemnri / deosebiri n
scopul evalurii progresului realizat pn acum n
atingerea obiectivului final al dezvoltrii sustenabile i de
a delimita rolul jucat de raportarea corporativ n acest
sens. Printre metodele de cercetare privind tiinele
socio-umane care ar putea fi considerate
complementare n aceast lucrare sunt, n principal:
analiza documentelor; metoda comparativ; observaia
neparticipativ; tehnica arhivistic. n plus, sursele de
informare cuprind: lucrri de cercetare, ghiduri i cadre
conceptuale, comunicate de pres, website-uri, opinii
23
Juctorii mondiali
Pentru a atinge obiectivul unei economii sustenabile la
nivel mondial, exist organizaii care aloc mult timp i
consum multe resurse n abordarea unor probleme
precum: emisiile de gaze cu efect de ser, o mai bun
utilizare a apei i a energiei, protecia biodiversitii etc.,
dar i a unor aspecte legate de furnizarea acestor
informaii de ctre companiile care opereaz pe pieele
internaionale. De fapt, pe pieele de capital se observ
o tendin de promovare a responsabilitii sociale a
companiilor i a investiiilor responsabile n rndul
investitorilor, companiilor cotate la burs i autoritilor
de reglementare. London Stock Exchange Group, NYSE
Euronext, Nasdaq i Bursa din Varovia s-au alturat
deja Iniiativei privind Piaa Bursier Sustenabil
(Sustainable Stock Exchange Initiative), contnd pe
faptul c "o mai bun informare va crete utilitatea i
comparabilitatea informaiilor raportate pe fiecare pia,
permind investitorilor instituionali o mai bun
gestionare a riscurilor i un mai bine fundamentat proces
decizional."1
Cu toate acestea, n ultimii ani a fost o adevrat
provocare convingerea consiliilor de administraie i a
directorilor executivi ai companiilor de faptul c
raportarea de informaii conexe dezvoltrii durabile i
furnizarea unei asigurri externe a acestora are beneficii
reale, cu att mai mult cu ct "doar 3 la sut dintre cele
1
http://www.sseinitiative.org/home-slider/london-stockexchange-partners-with-united-nations-sustainable-stockexchanges-initiative/
24
http://www.sseinitiative.org/home-slider/london-stockexchange-partners-with-united-nations-sustainable-stockexchanges-initiative/
Nr. 2(122)/2015
25
https://www.globalreporting.org/information/news-and-presscenter/Pages/REPORTING-AROUND-THE-GLOBE.aspx
Nr. 2(122)/2015
27
Audit
este efectuat de un auditor, care este independent
de entitate
exprim o opinie asupra situaiilor financiare sau
asupra altor aspecte specificate
1 CPA,
28
Asigurare
este efectuat de ctre un profesionist extern, care este
independent de entitate
exprim o concluzie cu privire la zonele pe care le evalueaz i
recomandri destinate pentru a crete ncrederea utilizatorilor
ntr-un subiect dat sau n anumite informaii
bazat pe trecut, prezent i informaii orientate spre viitor
ia n considerare informaii financiare, precum i non-financiare
care ar putea fi: msurtori sau evaluri cuantificate, descrieri de
naraiuni factuale, descrieri ale softurilor, estimri cantitative,
estimri calitative i diagrame
asigurarea este aplicabil ntr-o gam larg i extins de
domenii nu doar n cazul situaiilor financiare, astfel1:
- Conformitate cu reglementrile
- Rapoarte de sustenabilitate
- Situaii privind emisiile de gaze
- Prospectri
- Auditul de performan
Asigurare limitat
(IFAC, 2014)
Fr asigurare
Hibrid sau mix de
asigurri
Proceduri convenite
Obiective
O certificare a faptului c
situaia (raportul) este n
ntregime corect
o reducere a riscului
misiunii de asigurare pn
la un nivel minim acceptat
n circumstanele misiunii
o reducere a riscului
misiunii de asigurare pn
la un nivel minim acceptat,
n circumstanele misiunii,
dar la care riscul este mai
mare dect pentru o
asigurare rezonabil
elaborarea
situaiilor
financiare i a altor rapoarte
un mix de asigurri, care
difer ca nivel de detaliere
Efectuarea de proceduri de
audit agreate de
profesionist, organizaia
auditat i alte pri
interesate
Probe cutate/
proceduri
n totalitate
(audit pentru fiecare
tranzacie)
probe semnificative
teste detaliate
probe necesare
proceduri mai puin
detaliate
fr proceduri
Concluzii date
Exemple
Irealizabil
O garanie a situaiilor
financiare
nivel ridicat al
asigurrii
concluzie pozitiv
nivel moderat al
asigurrii
concluzie
negativ
fr asigurare
proceduri adecvate
proceduri agreate
Nu se exprim o
asigurare
IFAC, (2014): Manual de Reglementri Internaionale de Control al Calitii, Audit, Revizuire, Alte Servicii de Asigurare i Servicii
Conexe, Vol. 1, editat de CAFR
Nr. 2(122)/2015
29
Nr. 2(122)/2015
Concluzii
ntr-o lume cu resurse limitate, conceptul de
sustenabilitate a ctigat teren n ultimul deceniu. n
acest context, lucrarea de fa dezbate legtura dintre
conceptele de raportare a sustenabilitii i de raportare
integrat, evideniaz principalii juctori globali care
promoveaz astfel de raportri i subliniaz provocarea
reprezentat de asigurarea extern a raportrii integrate.
Astfel, considerm c, datorit existenei mai multor
organizaii interesate n punerea n aplicare, pe scar
larg, a propriilor standarde, ghiduri de aplicare i cadre
conceptuale privind raportarea corporativ sustenabil,
este esenial o coordonare clar a activitilor i
responsabilitilor acestor organizaii.
Muli ar putea aprecia c impactul pe care aceste
organizaii l pot avea asupra companiilor romneti este
limitat, din cauza mrimii relative i amplitudinii
operaiunilor acestora. Totui, includerea cerinelor
privind publicarea de informaii non-financiare n
legislaia naional ar putea avea loc mai devreme dect
credeam, deoarece la 29 septembrie 2014, Uniunea
European a adoptat noi reguli de transparen n ceea
ce privete divulgarea de informaii non-financiare de
ctre companiile mari (care urmeaz s fie integrate n
directiva 34/2013).
Aceste norme vor impune "anumitor companii mari din
UE s elaboreze, pe o baz anual, o declaraie sau
raport cu privire la aspecte legate de mediul
nconjurtor, probleme sociale i legate de angajai,
respectarea drepturilor omului, anticorupie i probleme
de luare de mit"1. Astfel, pentru a consolida
transparena unei companii i responsabilitatea fa de
societate i mediu, unele cerine ar putea afecta n viitor
entitile necotate i asigurarea extern a unui atare
raport va fi necesar pentru a spori credibilitatea i
calitatea informaiilor furnizate. Mai mult chiar,
implementarea principiilor raportrii integrate de ctre
companii la nivel global ar putea conduce la formarea de
echipe mixte cu expertize diferite n cadrul furnizorilor de
asigurare extern.
Pentru companiile care doresc s pun n aplicare
principiile raportrii sustenabilitii sau a celei integrate,
este imperativ o analiz a costurilor i beneficiilor reale
n termeni de resurse financiare i umane, de timp, de
1
http://www.consilium.europa.eu/uedocs/cms_data/docs/
pressdata/en/intm/144945.pdf
31
BIBLIOGRAFIE
Adams, C.A., Frost, G.R., (2008), Integrating
sustainability reporting into management practices,
Accounting Forum, 32(4): 288302.
Adams, C.A., (2014), The International Integrated
Reporting Council: A call to action, Critical
Perspectives on Accounting, http://drcaroladams.
net/the-international-integrated-reporting-council-acall-to-action/, 17 iulie.
Bonilla-Priego, M.J., Font, X., del Rosario PachecoOlivares, M., (2014), Corporate sustainability
reporting index and baseline data for the cruise
industry, Tourism Management, 44: 149160.
Daub, C.-H., (2007), Assessing the quality of
sustainability
reporting:
an
alternative
methodological approach, Journal of Cleaner
Production, 15(1): 7585.
Dragu, I., Tiron-Tudor, A. (2013), New corporate
reporting trends. Analysis on the evolution of
integrated reporting, Annals of the University of
Oradea Economic Science Series, 1(129):12211229
Dumitru, M., Glvan, M.E., Gorgan, C., Dumitru, V.F.
(2013), International integrated reporting framework:
a case study in the software industry, Annales
Universitatis Apulensis Series Oeconomica, 15(1) :
24-39
Eccles, R.G., Krzus, M. P., Watson, L. A., (2012),
Integrated Reporting Requires Integrated Assurance
n Effective Auditing for Corporates: Key
Developments in Practice and Procedures, edited by
Joe Oringel, 161178. London: Bloomsbury
Information Ltd.
Flower, J., (2014), The International Integrated
Reporting Council: A story of failure, Critical
Perspectives on Accounting, http://www.science
direct.com/science/article/pii/S1045235414000744
Fras-Aceituno, J.V., Rodrguez-Ariza, L., Garca-Snchez,
I.M., (2013), Is integrated reporting determined by a
country's legal system? An exploratory study, Journal
of Cleaner Production, 44: 4555.
Garcia-Sanchez, I.-M., Rodriguez-Ariza, L., FrasAceituno, J.-V., (2013), The cultural system and
32
ontentDeliveryServlet/CanEng/Documents/Financial
%20Reporting/Transparency/IntegratedReporting_B
etterView.pdf
Ernst and Young, (2013), EYs Excellence in Integrated
Reporting Awards: A survey of integrated reports
from South Africas top 100 JSE listed companies
and top 10 state owned companies, http://www.
ey.com/Publication/vwLUAssets/EYs_Excellence_in
_Integrated_Reporting_Awards_2013/$FILE/EY%2
0Excellence%20in%20Integrated%20Reporting.pdf
European Parlament and the Council (2013), Directive
2013/34/EU on the annual financial statements,
consolidated financial statements and related
reports of certain types of undertakings,available
online at http://eur-lex.europa.eu/LexUriServ/LexUri
Serv.do?uri=OJ:L:2013:182:0019:0076:EN:PDF
Global Reporting Initiative - GRI, (2013a), The
sustainability content of integrated reports - a
survey of pioneers, available online at https://www.
globalreporting.org/resourcelibrary/GRI-IR.pdf
accessed on 1.10.2014.
Global Reporting Initiative - GRI (2013b), The external
assurance of sustainability reports, https://www.
globalreporting.org/reporting/reportservices/external-assurance/Pages/default.aspx
Global Reporting Initiative - GRI, (2013c), GRI Guidelines,
https://www.globalreporting.org/reporting/g4/Pages/
default.aspx
Global Reporting Initiative - GRI (2014), Trends in
External Assurance of Sustainability Reports,
https://www.globalreporting.org/resourcelibrary/GRI
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_Trends-in-External-Assurance-of-SustainabilityReports_July-2014.pdf
International Accounting and Auditing Standard Board IAASB, (2013), International Standard on
Assurance Engagements (ISAE) 3000, https://www.
ifac.org/sites/default/files/publications/files/ISAE%20
3000%20Revised%20-%20for%20IAASB.pdf
Institute of Directors in Southern Africa - IDSA, (2009),
The King III Report on Corporate Governance for
South Africa, http://c.ymcdn.com/sites/www.iodsa.
co.za/resource/collection/94445006-4F18-4335B7FB-7F5A8B23FB3F/King_Code_of_Governance
_for_SA_2009_Updated_June_2012.pdf
International Federation of Accountants - IFAC, (2014),
Manual de Reglementri Internaionale de Control
al Calitii, Audit, Revizuire, Alte Servicii de Asigurare i Servicii Conexe, Vol. 1, editat de CAFR
International Integrated Reporting Council - IIRC,
(2013), The International <IR> Framework, http://
www.theiirc.org/wp-content/uploads/2013/12/13-1208-THE-INTERNATIONAL-IR-FRAMEWORK-21.pdf
International Integrated Reporting Council - IIRC,
(2014), Assurance on IR an exploration of issues,
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07/Assurance-on-IR-an-exploration-of-issues.pdf
KPMG, (2012), Integrated Reporting Performance
Insight through Better Business Reporting, issue 2,
http://www.kpmg.com/global/en/issuesandinsights/a
rticlespublications/integrated-reporting/pages/
default.aspx
33
financiar,NEDELCU
XIII, Nr. 2(122)/2015,
34-42
Eugeniu URLEA,Audit
Mariana
(BUNEA)
Studiu privind
prezena
femeilor n
componena
consiliilor de
administraie
i a comitetelor de audit
la nivelul sistemului
bancar din Romnia
Rezumat
Diversitatea de gen (egalitatea ntre sexe) n
componena consiliilor de administraie i, n general n
cadrul organizaiilor, a nregistrat din ce n ce mai mult
un interes considerabil n dezbaterile publice, n
cercetarea academic i, nu n ultimul rnd, n cadrul
strategiilor corporative.
Scopul acestui articol este de a oferi o imagine de
ansamblu asupra cercetrii i practicilor la nivel
internaional legate de prezena femeilor n componena
consiliilor de administraie i a comitetelor de audit.
Totodat, acest articol i propune s evalueze gradul de
implicare al reprezentantelor de sex feminin n structurile
de conducere, precum i n comitetele de audit ale celor
mai importani actori ai scenei sistemului bancar din
Romnia.
Metodologia cercetrii s-a bazat n esen pe observaii
asupra documentelor publicate pe site-urile societilor
bancare analizate, concluzii eseniale privind nivelul de
implicare al femeilor n structurile de conducere ale
sistemului bancar din Romnia fiind formulate n finalul
prezentrii.
Cuvinte-cheie: guvernan corporativ, sistem bancar,
consiliu de administraie, comitet de audit, supraveghere
Clasificare JEL: M48 , G21, G34
34
1. Introducere:
Considerat pn nu demult ca fiind o problem social,
diversitatea de gen (egalitatea ntre sexe) n cadrul
consiliilor de administraie este tot mai mult perceput ca
o value-driver (conductoare de valoare) n contextul
strategiei organizaionale i al guvernanei corporative,
n baza unor variate argumente (Terjesen, Sealy and
Singh, 2009).
n primul rnd, acest subiect devine treptat o
component a practicilor investiionale, investitorii
instituionali lund n considerare din ce n ce mai mult
problematica diversitii componenei board-ului (Carter,
Simkins and Simpson, 2003).
n al doilea rnd, diversitatea de gen (egalitatea ntre
sexe) este impus de ctre prile interesate importante,
cum ar fi clieni sau angajai. Luarea n considerare a
preferinelor, preocuprilor i aspiraiilor prilor
interesate ar putea fi benefic pentru companii prin
mbuntirea gradului de loialitate al clienilor i
motivarea angajailor (Powell, 1999).
n cel de al treilea rnd, legislaia recent i diversitatea
iniiativelor la nivel mondial au subliniat importana
reprezentrii femeilor la nivelul consiliilor de
administraie. De exemplu, guvernul norvegian impune
companiilor s numeasc femei n componena
consiliilor de administraie n proporie de cel puin 40%
din totalul membrilor lor. Spania i Frana vor
implementa aceleai deziderate pn n 2015 i,
respectiv, 2017 (Terjen et al., 2009).
n cel de al patrulea rnd, aspectele legate de
componena consiliului au fost, de asemenea, dezbtute
de cele mai bune practici n materie de guvernan
corporativ. De exemplu, Legea Sarbanes Oxley din
2002 (n Statele Unite ale Americii) sau revizuirea
legislaiei n Marea Britanie ncurajeaz o mai mare
diversitate la nivelul componenei consiliilor de
administraie (Adam i Ferreira, 2009; Dalton i Dalton,
2008).
Nu n ultimul rnd, diversitatea de gen (egalitatea ntre
sexe) este, n prezent, pe ordinea de zi a companiilor,
din moment ce tot mai multe femei sunt n poziii de top
management. Astfel, ponderea femeilor care s dein
calitatea de membre ale consiliilor de administraie sau
care s ocupe poziii de preedinte (CEO) se ateapt
s nregistreze un trend ascendent n perioada
urmtoare (Helfat, Harris i Wolfson, 2006).
Nr. 2(122)/2015
3. Prezena femeilor n
componena structurilor de
conducere i a comitetelor de
audit la nivelul sistemului
bancar din Romnia
Nr. 2(122)/2015
BCR
BRD
UNICR
RAIFF
TRANS
CARP
CEC
EXIMBANK
0
7
0
9
0
10
1 (20,00%)
5
0
7
1 (20,00%)
5
2 (18,18%)
11
1 (16,67%)
6
BCR
BRD
UNICR
RAIFF
VOLKS
TRANS
0
6
0
7
3 (42,85%)
7
0
7
0
4
2
6
CARP
CEC
EXIM
BANK
1 (20,00%) 2 (40,00%) 1 (33,33%)
5
5
3
38
1La
http://www.arb.ro/wp-content/uploads/Raport-studiuevaluare-FPC-sector-bancar-DEFIN.pdf
Nr. 2(122)/2015
39
BCR
BRD
UNICR
RAIFF
VOLKS
TRANS
CARP
CEC
EXIM
BANK
Poziii ocupate de
femei (%)
0%
0%
0%
33%
33%
33%
33%
33%
0%
40
4. Concluzii
n demersul nostru privind analiza prezenei
reprezentantelor de sex feminin la nivelul structurilor de
conducere i al comitetelor de audit din cadrul sistemului
bancar din Romnia, am remarcat faptul c acestea
dein nc o pondere relativ sczut n componena
acestora.
La nivel european, i nu numai, o serie de bnci
au luat iniiativa de a crete numrul locurilor deinute de
ctre femei n cadrul structurilor de conducere ale
acestora. Astfel, Grupul bancar Lloyds urmeaz s fac
o micare strategic legat de diversitatea angajailor
si, avnd n vedere c 40% din poziiile de
management vor fi ocupate de femei n urmtorii ani,
pn n anul 20201.
Totodat, n Japonia, n cursul anului 2014, pentru prima
oar a fost desemnat o femeie la conducerea unei
bnci a grupului financiar Nomura Holdings. n acelai
timp, o alt reprezentant a sexului feminin a fost
desemnat pentru a intra n consiliul de administraie al
Daiwa.2
n acest context internaional i avnd n vedere
promovarea n ultimii ani a diversitii de gen (a egalitii
ntre sexe) la nivelul consiliilor de administraie,
considerm c este necesar ca n componena
structurilor de conducere a sistemului bancar din
Romnia s se nregistreze o evoluie ascendent a
ponderii reprezentantelor de sex feminin n perioada
urmtoare.
ntr-o lume ideal, afacerile ar fi trebuit s fie
caracterizate prin egalitatea de gen. n realitate, ns,
comitetele de conducere ale companiilor din UE sunt
dominate de brbai.
Tocmai de aceea, la nivelul Parlamentului European, n
aceast perioad, se promoveaz o directiv prin care
se vor introduce reguli care s impun ca cel puin 40%
din membrii comitetelor companiilor UE s fie femei.
Introducerea cotelor pentru femei ar trebui s ajute la
http://news.sky.com/story/1204659/lloyds-sets-target-forwomen-executives
2 http://ziare.com
Recunoatere
Aceast lucrare a fost cofinanat din Fondul Social
European, prin Programul Operaional Sectorial
Dezvoltarea Resurselor Umane 2007-2013, proiect
POSDRU/159/1.5/S/134197 Performan i excelen
n cercetarea doctoral i postdoctoral n domeniul
tiinelor economice din Romnia.
Nr. 2(122)/2015
http://www.europarl.europa.eu/news
41
BIBLIOGRAFIE
Adams, R.B. and Ferreira, D. (2009), Women in the
boardroom and their impact on governance and
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291-309
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Gender Diversity in Risk Taking: A Meta-Analysis,
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Carter, D.A., Simkins, B.J. and Simpson, W.G. (2003)
Corporate Governance, Board Diversity and Firm
Value, Financial Review, 38, 33-53
Dalton, D.R. and Dalton, C.M. (2008), On the Progress
of Corporate Women: Less a Glass Ceiling Than a
Bottleneck?, in S. Vinnicombe, V. Singh, D.J. Burke,
D. Bilimoria and M.Huse (ed.), Women on
Corporate Boards of Directors (Cheltenham:
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Helfat, C.E., Harris, D. and Wolfson, P.J. (2006) The
Pipeline to the Top:Women and Men in the Top
Executive Ranks of US Corporations, Academy of
Management Perspectives, 20, 42-64.
Hillman, A.J., Shropshire, C. and Cannella, A.A. (2007)
Organizational Predictors of Women on Corporate
Boards, Academy of Management Journal, 50, 941952
Kesner, I.F. (1988) Directors Characteristics and
Committee Membership: An Investigation of Type,
42
Audit financiar,
XIII, Nr. 2(122)/2015,
43-51
Situaii
financiare
consolidate
Situaii
financiare
consolidate:
excurs n
literatura de
specialitate a
ultimilor
doisprezece
ani
Rezumat
Scopul acestei lucrri este de a trece n revist literatura
tiinific aferent ariei de cercetare a situaiilor
financiare consolidate, publicate pe o perioad de
doisprezece ani ncepnd din 2002. Metodologia de
cercetare utilizat n cadrul lucrrii const n perspectiva
teoretic (conceptual) concretizat prin analiza
calitativ transversal i longitudinal a literaturii
academice. Analiza calitativ prezint un caracter
deductiv, concluziile referitoare la caracteristicile ariei de
cercetare a situaiilor financiare consolidate fiind
fundamentate pe principalele rezultate i contribuii
tiinifice identificate n cadrul literaturii de specialitate
analizate.
Cuvinte-cheie: situaii financiare consolidate, IFRS,
literatura de specialitate, analiza calitativ
Clasificare JEL: M40; M41; M48
Nr. 2(122)/2015
43
Carmen-Alexandra BALTARIU
1. Introducere
Apariia grupului ca nou structur economic,
constnd ntr-un numr de filiale i companii afiliate
aflate sub controlul unei societi-mam, a generat
nevoia unui alt tip de raportare financiar, care s
furnizeze informaii relevante cu privire la poziia i
performana acestei structuri economice. Evoluia
raportrii contabile a grupurilor a condus la o alt
modalitate de a structura i prezenta informaiile
financiare aferente acestora, respectiv situaiile financiare consolidate. Atenia acordat situaiilor financiare consolidate n cadrul cercetrii contabile se
datoreaz, pe de o parte, importanei structurilor de
grup n cadrul economiilor naionale, regionale i
globale i, pe de alt parte, preocuprilor autoritilor
de reglementare internaionale cu privire la Standardele Internaionale de Raportare Financiar - IFRS.
Scopul acestei lucrri este de a efectua o incursiune
n literatura de specialitate referitoare la situaiile
financiare consolidate pe o perioad de doisprezece
ani, ncepnd cu 2002. n urma analizei vom evidenia
principalele caracteristici ale ariei de cercetare de
interes observate ntre 2002 i 2014. De aceeai
manier, precum i Feleag, Feleag & Dragomir au
remarcat n lucrarea lor (2009, p. 10), observm c
analiza literaturii tiinifice publicate ntr-un anumit
domeniu de cercetare de interes poate conduce la
atingerea unor obiective cheie, respectiv accesarea
teoriilor existente, nelegerea metodelor de cercetare
utilizate, evaluarea progresului realizat n ceea ce
privete cunoaterea n cadrul respectivului domeniu
de cercetare i nu n ultimul rnd identificarea
oportunitilor viitoare de cercetare. Aceast lucrare
reprezint o analiz descriptiv a stadiului actual al
cunoaterii, mai precis a principalelor rezultate i
contribuii din domeniul cercetrii contabile aferente
situaiilor financiare consolidate. Temele de interes
pentru cercettori, precum i rezultatele publicate n
aceast arie de cercetare se regsesc sub directa
influen a modificrilor care au avut loc n domeniul
de reglementare a raportrilor situaiilor financiare
consolidate. Din aceste considerente, n cele ce
urmeaz vom oferi o scurt trecere n revist a celor
mai importante evenimente referitoare la
reglementarea situaiilor financiare consolidate, care
au avut loc ntre anii 2002 i 2014.
44
2. Metodologia de cercetare
Similar cu alte lucrri de specialitate n cadrul crora
regsim o analiz a literaturii de specialitate aferente
ariei de cercetare a situaiilor financiare consolidate
(Mller, 2010, p. 22-37), perspectiva acestei lucrri
este una teoretic (conceptual), iar metodologia de
cercetare const ntr-o analiz calitativ transversal
i longitudinal a studiilor de specialitate. Analiza
calitativ efectuat prezint un caracter deductiv,
concluziile noastre cu privire la caracteristicile
generale ale domeniului de cercetare a situaiilor
financiare consolidate se bazeaz pe principalele
rezultate i contribuii tiinifice identificate n cadrul
ariei de cercetare. Printre metodele de cercetare
utilizate menionm analiza documentelor, metoda
comparativ i metoda interpretativ. Metoda analizei
documentelor face referire la lucrrile tiinifice
publicate ntre anii 2002 i 2014 pe care le-am
identificat n cadrul literaturii academice. Metoda
comparativ a fost utilizat n conjuncie cu metoda
interpretativ, n scopul de a efectua analiza diferitelor
rezultate n literatura de specialitate.
n vederea realizrii analizei calitative a literaturii de
specialitate aferente situaiilor financiare consolidate
am investigat, n mod detaliat, literatura academic n
scopul de a descoperi ct mai multe articole publicate
n reviste recunoscute la nivel naional sau
internaional, ori cri relevante pentru tema de
interes. Cutarea noastr a fost efectuat, n cea mai
mare parte, n jurnale tiinifice publicate online de
ctre American Accounting Association, Camera
Auditorilor Financiari din Romnia, editurile Emerald
Group, Franklin Publishing Company, Heckner,
Inderscience, John Wiley & Sons (Wiley-Blackwell),
JSTOR, Oxford University Press, Palgrave Mcmillan,
Questia, SAGE Publication, Springer, Reed Elsevier
i Taylor & Francis, dup cuvinte sau expresii de tipul:
situaii financiare consolidate; raportri financiare
consolidate; consolidarea conturilor; standarde
internaionale de raportare financiar-consolidate.
Nr. 2(122)/2015
Carmen-Alexandra BALTARIU
Nr. 2(122)/2015
Carmen-Alexandra BALTARIU
Nr. 2(122)/2015
Carmen-Alexandra BALTARIU
Recunoatere
Aceast lucrare a fost co-finanat de Facultatea de
tiine Economice i Gestiunea Afacerilor,
Universitatea Babe-Bolyai din Cluj-Napoca,
BIBLIOGRAFIE
Aceituno, F., Valeriano, J., Bolivar, R. & Pedro, M. (2006),
The conceptual framework concept and the allocation
of incomes in the consolidation entity: its impact on
financial ratios, International Journal of Commerce &
Management, Vol. 16, No. 2: 95-115;
Bauman, M. P., (2007), Proportionate consolidation versus
the equity method: additional evidence on the
association with bond ratings, International Review of
Financial Analysis, Vol. 16, No. 5: 496-507, DOI:
10.1016/J.irfa.2007.06.005;
Beuselinck, C. & Deloof, M. (2014), Earnings management
in business groups: tax incentives or expropriation
concealment?, The International Journal of
Accounting, Vol. 49: 27-52, DOI:
10.1016/J.intacc.2014.01.008;
Borenstein, M., Hedges, L. V., Higgins, J. P. T. & Rothstein,
H. R. (2009), Introduction to meta-analysis, Chichester,
United Kingdom: John Wiley & Sons Publication;
Botosan, C. A., Hirst, D. E., Venkatachalam, M., Maines, L.
A., Bartov, E., Beatty, A. L., Fairfield, P. M., Iannaconi,
T. E. & Mallett, R. (2003), Comments on the FASBs
proposals on consolidating special-purpose entities
and related standard-setting issues, Accounting
Horizons, Vol. 17, No. 2 (June): 161-173;
Bradbury, M., Dean, G. & Clarke, F. L. (2009), Incentives
for non-disclosure by corporate groups, Abacus, Vol.
45, No. 4: 429-454, DOI: 10.1111/j.14676281.2009.00298.x;
Bdy-Rzsa, I. (2012), New trends in consolidation
challenging the changes of new IFRS rules, Periodica
Polytechnica, Social and Management Sciences, Vol.
20, No. 1, DOI: 10.3311/pp.so.2012-1.02;
Churyk, N. T. (2005), Reporting goodwill: are the new
accounting standards consistent with market
valutions?, Journal of Business Research, Vol. 58:
1353-1361, DOI: 10.1016/j.jbusres.2004.05.006;
Ding, Y., Stolowy, H. & Tenenhaus, M. (2003), Shopping
around for accounting practices: the financial
statement presentation of French groups, Abacus, Vol.
39, No. 1: 42-64;
Ding, Y., Richard, J. & Stolowy, H. (2008), Towards an
understanding of the phases of goodwill accounting in
four Western capitalist countries: from stakeholder
50
Nr. 2(122)/2015
51
Audit financiar,Marilena
XIII, Nr. 2(122)/2015,
52-64
Ionela-Corina CHERSAN,
MIRONIUC
Incursiune n
cercetarea de
audit i
contabilitate
pe orizontul
unui deceniu.
Analiz intuitiv
asupra articolelor
publicate n revista
Audit Financiar
Rezumat
Lucrarea este rezultatul unui studiu longitudinal
descriptiv-explicativ realizat asupra articolelor publicate
n revista Audit Financiar de-a lungul unui deceniu,
pentru a oferi, n mod intuitiv, o prim imagine asupra
structurii produciei tiinifice din aceast publica ie,
prin prisma ariilor de cercetare identificate n domeniile
auditului i contabilitii.
Structura tematicii publicaiilor, dinamica publicaiilor n
funcie de statutul i afilierea instituional a autorilor,
gradul de colaborare n cercetare/publicare, numrul
citrilor articolelor revistei au reprezentat variabile
observate pentru a caracteriza structura cunoaterii n
domeniile auditului i contabilitii, concentrarea
publicaiilor pe instituiile de apartenen ale autorilor
sau impactul acestora asupra dezvoltrii cercetrii n
domeniu. Studiul s-a realizat pe o populaie alctuit din
720 de articole extrase din cele 112 numere ale revistei
Audit Financiar, publicate n perioada 2003-2013.
Pentru caracterizarea produciei tiinifice din revista
Audit Financiar i pentru extragerea inferenelor n
urma analizei intuitive, prin observare direct i prin
analiza comparativ a coninutului bazei de date, s-a
recurs la demersul specific analizei de coninut.
52
1. Introducere
Publicarea n reviste de specialitate a fost dintotdeauna
o provocare, dar i o obligaie profesional pentru
profesori i cercettori. Modificrile aduse legislaiei
privind construirea carierei universitare, precum i
exigenele crescnde reflectate n dinamica criteriilor de
evaluare a activitii de cercetare, n ultimii ani, au
determinat creterea dorinei i nevoii de a publica, ceea
ce a generat, pe de o parte, creterea numrului de
reviste de specialitate cotate/indexate i, pe de alt
parte, creterea numrului i calitii articolelor
publicate.
Dezvoltarea nivelului cunoaterii n toate domeniile
tiinei se bazeaz, cu precdere, pe diseminarea ideilor
i cunotinelor explicite ale cercettorilor prin
intermediul publicaiilor n reviste, jurnale, cri de
specialitate (Chtioui, T., Soulerot, M., 2006, p. 8). Se
remarc, n ultimii ani, tendina spre specializare a
studiilor universitare, respectiv creterea frecvenei
cercettorilor specializai, care public n reviste cu o
identitate bine conturat, ce au dobndit prestigiu i
vizibilitate n cadrul unei comuniti tiinifice
hiperspecializate.
Cercetarea n domeniile auditului i contabilitii
depinde, la rndul su, calitativ de difuzarea informaiilor
prin publicarea articolelor cercettorilor specializai n
domeniu, fapt pentru care cunoaterea tabloului
preocuprilor de cercetare din domeniile menionate, pe
orizontul 2003-2013, i prin raportare la tendinele
internaionale, prezint o utilitate cert.
La nivel internaional pot fi identificate, pentru domeniile
contabilitii i auditului, numeroase cercetri care
utilizeaz analiza bibliometric, asupra articolelor
publicate n reviste de specialitate reprezentative sau
asupra referinelor citate, pentru a identifica structura
cunoaterii i factorii care influeneaz cunotinele
mobilizate n publicaii sau pentru a msura gradul de
concentrare a publicaiilor.
Prima parte a prezentei lucrri, consacrat trecerii n
revist a literaturii de specialitate relativ la studiile
bibliometrice efectuate asupra cercetrilor din domeniile
contabilitii i auditului, este urmat de partea care
rezum metodologia utilizat pentru colectarea datelor i
analiza rezultatelor evalurii structurii articolelor
tiinifice publicate n revista Audit Financiar, innd
cont de criteriile de analiz selectate. De asemenea, o
analiz a citrilor i autocitrilor articolelor cuprinse n
Nr. 2(122)/2015
2. Msurarea activitii de
cercetare prin analiza
bibliometric. Puncte de vedere
n literatura de specialitate
n tiin, obiectivul trebuie s-l constituie promovarea
rezultatelor cercetrii n cadrul comunitii tiinifice, mai
ales dac acceptm ca adevrat afirmaia potrivit
creia cunoaterea rezult nu din nsumarea
paratactic a contribuiilor individuale, ci din raportarea
succesiv a tuturor la fiecare - prin urmare, n
elaborarea cunoaterii elementele decisive sunt
evaluarea critic, preluarea critic, transmiterea
creatoare (Patapievici, H.-R., 2007, p. 44).
Este general acceptat faptul c a publica n reviste de
calitate este o parte important a vieii academice. Cine
lucreaz n mediul universitar sau n cercetare cunoate
bine alternativa: publici sau mori? (publish or
perish?). Cercettorii analizeaz ntotdeauna care este
nivelul i impactul revistelor n care doresc s publice,
cu att mai mult cu ct acest fapt poate avea inciden
asupra status-ului lor sau al instituiei de apartenen,
asupra alocrii resurselor, asupra obinerii unor forme de
recunoatere a meritelor sau asupra avansrii n carier.
De asemenea, ntr-o perioad n care crete exponenial
redundana informativ (Dubini, P., Giglia, E., 2008, p.
9), procesul de certificare a calitii articolelor tiinifice
realizat de experi/refereni tiinifici, cel mai adesea prin
sistemul peer review, confer elaboratelor tiinifice
credibilitatea necesar pentru a putea fi citate,
garantnd, astfel, contribuia acestora la dezvoltarea
cunoaterii.
Analiza bibliometric este considerat, n lumea
academic, o metod de msurare ex-post a activitii
de cercetare dintr-un domeniu oarecare al cunoaterii, la
un moment dat sau n dinamic, utiliznd tehnici
cantitative i calitative pentru identificarea, selectarea,
colectarea, clasarea i sintetizarea unui volum important
de informaii textuale i determinarea unor indicatori
specifici (Immediacy Index, Cited Half Life, Rate of Cites
Index, Citation Impact, Impact Factor etc.), n
majoritatea lor propui de Institute for Scientific
Information (ISI). Semnificativ dezvoltat ca urmare a
53
3. Metodologia cercetrii
Aceast lucrare se poate constitui ntr-un
studiu de productivitate tiinific, elaborat pe o baz de
date alctuit din ansamblul articolelor publicate n
numerele revistei Audit Financiar, n perioada 20032013. S-a ncercat, n acest mod, s se evalueze
influena revistei asupra cunoaterii din domeniile
auditului i contabilitii, n urma analizei structurii ariilor
tematice abordate de autorii cu statut i afiliere
instituional diferite, a identificrii gradului de
colaborare n cercetare/publicare, a cuantificrii
numrului anual de citri ale articolelor revistei i a
gradului su de internaionalizare.
Pentru a construi un corpus de date fiabile, a fost
angajat un proces minuios de explorare a 112 numere
ale revistei, publicate n perioada 2003-2013, i de
colectare manual a 720 de articole, de pe site-ul
revistei Audit Financiar sau din baza de date ProQuest,
n care aceasta este indexat. Au fost excluse din baza
de date astfel constituit articolele care rezumau:
dezbateri profesionale, seminarii, studii, conferine i
congrese. Articolele rmase n baza de date au fost
clasate n funcie de apartenena lor la cele dou
domenii de cercetare, contabilitate i audit, apoi, n
cadrul fiecrui domeniu, pe arii tematice (Tabelul 1).
Articolele care, n mod interdisciplinar, atingeau mai
multe arii tematice au fost ncadrate n funcie de aria
cea mai pregnant identificat n articol. Potrivit
metodologiei specifice analizei de coninut, pentru a
rspunde nevoii de a realiza un studiu aprofundat,
organizarea bazei de date a implicat conceperea unei
liste de variabile-criteriu, relevante pentru scopul
cercetrii, i a unor tabele interdependente care rezum
informaii relative la: anul i numrul apariiei articolelor,
Nr. 2(122)/2015
4. Rezultatele cercetrii
n urma examinrii fluxului anual de articole ale revistei
Audit Financiar publicate n perioada analizat
(Tabelul 1), se constat superioritatea evident a
articolelor specifice domeniului Audit (55,5% din total
populaie, cu o medie a perioadei analizate egal cu
36,3 articole pe an), n raport cu cele care aparin
domeniului Contabilitate (44,5% din numrul total de 720
articole, media perioadei fiind de 29,2 articole anual).
Excepie face anul 2004, n care articolele din domeniul
Contabilitate depesc att ca numr (10), ct i ca
pondere (62,5% din numrul anual al articolelor
publicate) pe cele care abordeaz tematici specifice
domeniului Audit (6 articole care reprezint 37,5% din
articolele publicate, n 2004, n revista analizat)
(Tabelul 2). n urmtorii ani ai perioadei analizate se
constat o tendin continu de atenuare a diferenei
dintre numrul articolelor publicate, din cele dou
domenii, pentru ca n 2012 articolele pe domeniul
Contabilitate (43 articole, respectiv 53,7% din numrul
articolelor publicate n acel an) s le depeasc pe cele
de Audit (37 articole, reprezentnd 46,3% din numrul
anual al articolelor publicate), ajungndu-se la egalitate
n 2013.
55
Tabel 1. Caracterizarea dinamicii articolelor publicate n revista Audit Financiar pe domenii i arii tematice
n perioada 2003-2013
Finane/Analiz
financiar
Total Domeniu
Contabilitate
9
2
2
19
34
22
16
21
28
20
27
200
7
2
3
5
14
14
10
14
8
6
6
89
8
2
20
6
10
12
9
1
8
5
81
2
2
4
5
1
2
4
5
1
3
29
26
6
11
49
55
48
42
49
38
37
38
399
5
3
2
27
24
18
14
20
24
21
15
173
4
5
3
7
4
4
5
6
1
4
1
44
1
2
1
2
13
7
18
9
11
18
22
104
10
10
6
36
41
29
37
35
36
43
38
321
36
16
17
85
96
77
79
84
74
80
76
720
18,2
8,0
7,4
2,7
36,3
15,7
4,0
9,5
29,2
65,5
27,8
12,4
11,3
4,0
55,5
24,0
6,0
14,4
44,5
100
IV
VII
II
VI
III
II
Total general
Standarde profesionale
i etice/Deontologia
profesiei
Auditul sistemelor
informaionale/
Tehnologii pentru audit
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Total (nr. art.)
Media perioadei
(nr. art./an)
Total/Total
general (%)
Clasamentul ariilor
tematice
Audit intern
Perioada
analizat
56
Tabel 2. Numrul i structura articolelor publicate n revista Audit Financiar pe domenii i arii tematice n
perioada 2003-2013
2007
2008
2009
2010
2011
2012
2013
2
5,6
2
12,5
4
23,4
5
5,9
1
1,0
2
2,6
4
5,0
5
5,9
1
1,4
3
3,8
-
26
72,2
6
37,5
11
64,7
49
57,7
55
57,3
48
62,4
42
53,2
49
58,3
38
51,4
37
46,3
38
50,1
5
13,9
3
18,7
2
11,8
27
31,7
24
25,0
18
23,3
14
17,7
20
23,8
24
32,4
21
26,3
15
19,7
4
11,1
5
31,3
3
17,6
7
8,2
4
4,2
4
5,2
5
6,3
6
7,1
1
1,4
4
5
1
1,3
1
2,8
2
12,5
1
5,9
2
2,4
13
13,5
7
9,1
18
22,8
9
10,8
11
14,8
18
22,4
22
28,9
10
27,8
10
62,5
6
35,3
36
42,3
41
42,7
29
37,6
37
46,8
35
41,7
36
48,6
43
53,7
38
49,1
Total general
Auditul sistemelor
informaionale/
Tehnologii pentru audit
Standarde profesionale
i etice/Deontologia
profesiei
8
22,2
2
11,8
20
23,5
6
6,3
10
13,0
12
15,2
9
10,8
1
1,4
8
10,0
5
6,6
Total Domeniu
Contabilitate
2006
7
19,4
2
12,5
3
17,7
5
5,9
14
14,6
14
18,2
10
12,7
14
16,6
8
10,8
6
7,5
6
7,9
Finane/Analiz
financiar
2005
9
25,0
2
12,5
2
11,8
19
22,4
34
35,4
22
28,6
16
20,3
21
25,0
28
37,8
20
25,0
27
35,6
2004
Nr.
%
Nr.
%
Nr.
%
Nr.
%
Nr.
%
Nr.
%
Nr.
%
Nr.
%
Nr.
%
Nr.
%
Nr.
%
2003
Audit intern
Perioada
analizat
36
100
16
100
17
100
85
100
96
100
77
100
79
100
84
100
74
100
80
100
76
100
Nr. 2(122)/2015
Tabel 3. Arii tematice identificate n cercetarea din domeniul contabilitii n Frana, n perioada 2004-2013
Tematic
IFRS
Audit
Informaii
financiare
Managementul
rezultatului
Control de
gestiune i
costuri
Obiect de studiu
Tranziie, studii de impact, coninutul IFRS
Normalizarea la nivel internaional
Norme specifice (IFRS 2, IAS 32/39, IAS 38, IFRS 3, IAS 36, IFRS 8)
Determinani i factori de influen a calitii auditului
Auditul intern n sectoarele bancar i public
Deontologia profesiei: etic, independen, competenele auditorului
Piaa auditului, alegerea auditorului, comitetele de audit, onorarii
Raportri financiare, calitatea raportrii,
Value relevance, coninutul, credibilitatea raportrii i randamentele bursiere
Managementul rezultatului n situaii speciale: fuziune, luarea n control, diversificare, schimbarea
managerului, retragerea cotei
Manipulri contabile, fraude
Legtura ntre controlul de gestiune, strategie, managementul valorii, metoda ABC
Sistemul de pilotaj: analiza performanelor manageriale, sisteme de msurare a performanelor (tabloul de
bord, BSC), legtura responsabilitate social-strategie
Gestiune previzional i bugetar
Sursa: Prelucrare dup Tort, E., Quelques lments concernant la recherche comptable en France, Revue Franaise de
Comptabilit, nr. 472, ian 2014, p. 20
58
Figura 1. Structura articolelor revistei Audit Financiar dup numrul de autori pe articol
n perioada 2003-2013
Nr. 2(122)/2015
Figura 2. Structura articolelor revistei Audit Financiar n funcie de statutul autorilor n perioada 2003-2013
Figura 3. Structura articolelor revistei Audit Financiar dup afilierea instituional a autorilor
n perioada 2003-2013
60
Nr. 2(122)/2015
61
Figura 5. Numrul articolelor publicate de autorii membri ai Colegiului Editorial tiinific al revistei Audit
Financiar n perioada 2003-2013
Figura 6. Numrul anual al citrilor articolelor revistei Audit Financiar n perioada 2006-2013
62
Nr. 2(122)/2015
Concluzii
Revista Audit Financiar este o publicaie de strict
specialitate pentru domeniile auditului i contabilitii.
Articolele publicate n aceast revist se ncadreaz,
prin tematica abordat, n tendinele pieei ideilor la nivel
internaional.
Revista are, ns, un grad de internaionalizare redus,
apreciat att n funcie de numrul puin semnificativ de
autori strini care public n revista Audit Financiar, ct
i n raport cu numrul cvasi-inexistent de citri ale
articolelor din cuprinsul acesteia n publicaiile de
specialitate din strintate. Gradul sczut de
internaionalizare se explic, pe de o parte, prin faptul
c, pn n 2015, revista a fost publicat doar n limba
romn i, pe de alt parte, prin faptul c nu putea fi
consultat direct, n sistem Open Access, ea fiind
indexat, pn n 2014, n baze de date care permiteau,
ntre anumite limite, accesul la aceast publicaie, pentru
diseminare tiinific deschis.
Revista Audit Financiar este una din publicaiile n care
intenia de publicare constituie i o rezultant a faptului
c este indexat n bazele de date recunoscute de
Consiliul Naional de Atestare a Titlurilor, Diplomelor i
Certificatelor Universitare, fiind recunoscut n procesul
de evaluare a candidailor care se prezint la
concursurile pentru ocuparea posturilor didactice i de
cercetare, respectiv, pentru evaluarea personalului
didactic i de cercetare.
n pofida influenei, la prima vedere modest dac
apreciem prin prisma numrului articolelor citate i a
gradului redus de internaionalizare, pe care o determin
asupra cercetrii din domeniile auditului i contabilitii,
revista Audit Financiar este o publicaie care, graie
politicii sale editoriale, se afl ntr-un proces de continu
cretere a nivelului tiinific, a vizibilitii sale la nivel
naional i internaional. Revista concentreaz
deopotriv contribuii ale cercettorilor care, n special
sub aspect teoretic, sunt continuu conectai la trendul
ideilor la nivel internaional, dar i abordri pragmatice
proprii profesionitilor care, la rndul lor, ofer soluii sau
gsesc rspuns la provocrile lumii afacerilor. Astfel,
revista mijlocete transferul n ambele sensuri a fluxului
de cunotine, dezbateri profesionale i experiene
specifice auditului i contabilitii.
63
BIBLIOGRAFIE
Baccini, A., Valutare la ricerca scientifica. Uso e abuso
degli indicatori bibliometrici, Il Mulino, Bologna, 2010
Babbie, E., Practica cercetrii sociale, Ed. Polirom, Iai,
2010
Brown, L.D., Influential Accounting Articles, Individuals,
PhD Granting Institutions and Faculties: A Citational
Analisys, Accounting, Organizations and Society,
Vol. 21. No 7/8, 1996, pp.923-754
Chan, K.C., Chan, K.C., Seow, G.S., Tam, K. (2009),
Ranking accounting journals using dissertation
citation analysis: A research note, Accountig,
Organizations and Society, Volume 34, Issues 67,
August-October 2009, pp. 875-885
Chtioui T., Soulerot M., Quelle structure des
connaissances dans la recherche franaise en
comptabilit, contrle et audit ? Une tude
bibliomtrique de la revue CCA sur la priode 19952004, Comptabilit, Contrle et Audit, Tome 12, mai
2006, Volume 1, pp. 7-25
De Robbio, A., Analisi citazionale e indicatori
bibliometrici nel modello Open Access, Bollettino
AIB, Vol. 47, nr. 3, 2007, pp. 257-288
Dubini, P., Giglia, E., La sostenibilit economica dei
modelli di Open Access, 2008, disponibil la
http://eprints.rclis.org/13216/1/Dubini_Giglia.pdf,
accesat la 5.12.2014
64
Mihai CARP
66
Reflections
Accounting
Measure: Priority of Balance Sheet or Income Statement?
ISSN: 1583-5812;on
ISSN
on-line: 1844-8801
Reflections on
Accounting
Measure:
Priority of
Balance Sheet
or Income
Statement?
Abstract
Accounting is mainly based on two sciences: metrology the science of measurement and taxonomy - the science
of classification and reduce the complexity of an entity to
a few numbers. This article is an attempt to call into
question the concept of measurement and how it is used
in accounting.
The shift from historical cost to the market value or the
controversy regarding the primacy of stocks or flows
are, in the opinion of the authors, events related to the
governance in organizations that generate behaviors,
rights and obligations affecting society as a whole.
Therefore, the society cannot ignore the extent to which
the main function of accounting - faithful representation is met or not.
Keywords: accounting, measurement, cost, value,
stocks, flows
JEL Classification: M 41
ESCP Europe
Nr. 2(122)/2015
67
Introduction
Quantophrenia. Pathology consisting in the desire to
express everything in numbers. Neologism imagined by a
sociologist, Pitrim Alexandrovich SOROKIN, in the middle
of the XXth century. Yes, our world is quantophrenic.
Why? Theres no science without measure in other words
without numbers. Or, in two centuries, scientific
progresses have been not only incontestable, but
unimaginable. Even Jules Verne couldnt have imagined
it! From where the almost divine character of numbers
that all use trying to rely on them. Thus, numbers have
become the inevitable argument of any politician in lack of
credibility. Even so, it is well known for example that
statistics of the Interior Ministry on delinquency are
refined thanks to instructions given to the police stations,
that unemployment curves are degreased etc. But,
because doubt is an unpleasant state of mind, we are
pleased to believe that the figure expresses a certainty. In
a quantophrenic world, accounting has found an
ecosystem where it can prosper. Accounting is no longer
just an affair of merchants, but it affects all organizations
or entities: associations, public authorities (local, state,
legal entities of public international law etc.), political
parties, campaign accounts of various elections, unions,
religious congregations, etc. It also relates to communities
with no legal personality and thus without an own
patrimony like nations that keep national income
accounts.
Accounting relies on many sciences: law, economics,
management, etc. But accounting is based more
precisely on two sciences: the science of measurement
(metrology) and science of classification (taxonomy).
Indeed, booking a transaction implies knowing the value
expressed in monetary units and classifying it in one or
more categories (asset or expense? liabilities or
revenue?). Obviously, this doesnt explain the important
role that current societies grant to accounts.
From the earliest antiquity, men counted in order to
control. There was a need for a verifiable measure of the
number of animals in a flock entrusted to a shepherd.
Later, traders had to be able to verify the state of their
cash, receivables and debts. This function of accounting
is still relevant today and, if it would be its only function,
accounting would have remained a private business.
Thus, each household is free to keep its accounts
according to the method of their choice or not to keep
accounts at all.
68
1
2
Nr. 2(122)/2015
70
3. Measurement of stocks or
flows?
Quantum mechanics, according to Heisenbergs
uncertainty relation, shows that there is an
insurmountable theoretical barrier between the accurate
simultaneous measurement of the spatial coordinates of
a particle (its position) - q - and its movement (speed) - p
Nr. 2(122)/2015
72
Conclusion
What would make accounting measure a social issue? It
produces behaviours and rights which affect
the public itself even if it has no contractual relationship
with the entity (externalities).
The accounting measure produces signs that induce
behaviours. These signs are elements of the
governance in organizations. For example, if the CEO of
a company may fail to meet his target of return on
equity, he will be tempted to:
REFERENCES
Burlaud, A. et Simon, C. (1999), Controlul de
gestiune,Bucharest, Editura CNI Coresi
Burlaud, A. et al. (2004), Contrle de gestion, Paris,
Vuibert
Desrosires, A. (2008), Pour une sociologie historique
de la quantification, Paris, Mines ParisTech
Desrosires, A. (2008), Gouverner par les nombres,
Paris, Mines ParisTech
Guedj, D. (2010), Le mtre des Lumires, premire
Nr. 2(122)/2015
73
Earnings
Management
and Quality of
Financial
Reporting:
A Pre-Post IFRS
Adoption Comparative
Analysis for
Companies Listed on
the Bucharest Stock
Exchange
Elena NECHITA
Abstract
This research aims to analyse the phenomenon of
earnings management as a result of implementing the
International Financial Reporting Standards (IFRS) in
the individual financial statements prepared by the
companies listed on the Bucharest Stock Exchange
(BSE) as a regulatory requirement from the financial
year 2012. Beginning with a description of the legal
framework for financial reporting in Romania, this
research reveals through a pre-post IFRS adoption
comparative analysis to what extent there is evidence of
income smoothing practices for companies listed on the
BSE after the adoption of IFRS, and whether the
carrying amounts of these companies have greater
value relevance in terms of share price evolution with
the transition to IFRS. The research contributes to
literature enhancement by pointing the implications of
IFRS adoption in the emerging economies.
Keywords: earnings management, quality of financial
reporting, International Financial Reporting Standards,
listed companies, Bucharest Stock Exchange
JEL Classification: M41
74
Introduction
Nr. 2(122)/2015
Research Methodology
This research proposes an analysis of the existence of
income smoothing practices and the value relevance of
book values in the companies listed on the Bucharest
Stock Exchange, following the implementation of IFRS
for individual financial statements, as a financial
reporting requirement from the financial year 2012.
Elena NECHITA
Frequency
Percentage
2
1
1
1
1
1
28
1
3
39
Cumulative
Percentage
5.1
2.6
2.6
2.6
2.6
2.6
71.8
2.6
7.7
100.0
5.1
7.7
10.3
12.8
15.4
17.9
89.7
92.3
100.0
according to the International Standard Industrial Classification of All Economic Activities Industrial Classification, Rev.4
i) variability of the change in net income scaled by total assets (NI) - interpreting a smaller variation of the indicator as
an earnings smoothing indication:
NI it= 0+ 1SIZEit+ 2GROWTHit+ 3EISSUEit+ 4LEV it+ 5DISSUEit+ 6TURNit+ 7CF it+ 8AUDit+ it,
(1)
where:
SIZE = the natural logarithm of end of year market value of equity;
GROWTH = percentage change in sales;
EISSUE = percentage change in common stock;
LEV = end of year total liabilities divided by end of year equity book value;
DISSUE = percentage change in total liabilities;
TURN = sales divided by end of year total assets;
CF = annual net cash flow divided by end of year total assets;
AUD = an indicator variable that equals 1 if the firms auditor is within Big 4 (PwC, KPMG, E&Y or D&T) and 0
otherwise.
ii) mean ratio of the variability of the change in net income(NI) to the variability of the change in cash flows(CF),
keeping the variables in equation (1) - companies with a volatile cash flow are characterized by a volatile net result; if
companies use techniques for earnings handling, the variability in the net result should be less than the variability in
cash flows:
CF it= 0+ 1SIZEit+ 2GROWTHit+ 3EISSUEit+ 4LEV it+ 5DISSUEit+ 6TURNit+ 7CF it+ 8AUDit+ it
(2)
iii) Spearman correlation between net cash flow (CF) and accruals (ACC), the latter being calculated as the difference
between NI and CF. A stronger link between the two elements is an indication that earning smoothing practices are
not used through accrual accounting. In this respect, the residual values obtained by applying the regression
equations below are compared (the CF variable is excluded from the regression model):
CF it= 0+ 1SIZEit+ 2GROWTHit+ 3EISSUEit+ 4LEV it+ 5DISSUEit+ 6TURNit+ 7AUDit+ it;
(3)
ACC it= 0+ 1SIZEit+ 2GROWTHit+ 3EISSUEit+ 4LEV it+ 5DISSUEit+ 6TURNit+ 7AUDit+ it
(4)
Nr. 2(122)/2015
77
Elena NECHITA
(5)
where:
P = share value;
BVEPS = book value equity/share;
NIPS = net income/share;
Following the previous research (Barth et al., 2008 and
Lang et al., 2006), in order to ensure that the accounting
information has been made public, share prices were
assessed at three months after the year-end. Applying
the regression model given by equation (5), R2 value
obtained is analysed, interpreting a higher result as an
indication of higher book value relevance for companies
listed on the BSE, explained by a stronger correlation
between share prices and accounting values.
Research results
In order to perform an analysis of the pre-post IFRS
adoption, research methodology, as set out above, was
applied sequentially on the 39 companies forming the
sample, first for 2010-2013 with IFRS application and
then for the period 2005-2010 with the application of
national rules. Thus, two sub-samples are formed, the
first applying IFRS, comprising a number of 117 firmyear observations for the 3 time intervals of the 20102013 period, and the second one, applying the national
regulations, consisting of a total of 195 firm-year
observations for the 5 time intervals of the 2005-2010
period. As mentioned previously, the year 2010 is the
first in the time series for which the companies
presented comparative information in the individual
financial statements prepared in accordance with IFRS.
Following verification of data on the existence of outliers
likely to significantly influence the regression results,
additional refining was necessary to provide data
heterogeneity. After this procedure, the number of
78
Variables
NI
CF
CF
ACC
P
BVEPS
SIZE
GROWTH
EISSUE
LEV
DISSUE
TURN
AUD
N
Test Variables
-0.1971 -0.1376
0.1444 -0.0636
0.0698 0.0263
-0.0629 -0.0479
0.5935 0.4143
0.9308 0.4849
Control Variables
17.8524 17.6314
0.0265 0.0408
0.0153 0,0000
0.1861 0.3555
0.1780 0.0365
0.6917 0.6488
0.2927 0.0000
82
82
Pre-IFRS 2005-2010
Mean
value
Median
value
Standard
deviation
1.3618
1.0768
0.0888
0.1037
0.6007
1.7011
-0.0685
0.2482
0.0561
-0.0515
0.7556
0.0012
-0.2654
-0.0055
0.0262
-0.0169
0.4010
0.0004
1.1738
1.1174
0.0729
0.0997
0.9565
0.0024
1.9937
0.2155
0.0936
6.4998
0.9328
0.3775
0.4578
82
18.0341
0.0251
0.2899
1.0231
0.1693
0.7092
0.2366
131
17.8922
0.0269
0,0000
0.4912
0.1130
0.6644
0.0000
131
1.8737
0.2772
2.5450
7.4319
0.4610
0.3492
0.4267
131
Post-IFRS 2010-2013
N
82
82
R2
0.1283
0.1169
F
1.3430
1.2082
Pre-IFRS 2005-2010
Sig.
0.2360
0.3060
DW
1.9722
2.1910
N
131
131
R2
0.0243
0.1235
F
0.3803
2.1497
Sig.
0.9290
0.036**
DW
2.0837
2.0796
at a level of 5%
Nr. 2(122)/2015
Elena NECHITA
Table 4. Variance of the residual values of the net income regression compared to the variance of the
residual values of the cash flows regression
Post-IFRS 2010-2013
Indicator
Variability of NI*
Variability of CF*
Variability of NI* reported
to the variability of CF*
No. of observations
* Residual
Mean
value
0.0000
0.0000
Standard
deviation
1.2715
1.0119
82
Pre-IFRS 2005-2010
1.6166
1.0240
Mean
value
0,0000
0,0000
Standard
deviation
1.1594
1.0461
1.5787
131
Variance
Difference
in variance
(%)
Variance
1.3443
1.0943
+ 20.26%
-6.42%
1.2285
+ 28.50%
80
CF*
ACC*
* Residual
***
Correlation Coefficient
Sig. (2-tailed)
N
Correlation Coefficient
Sig. (2-tailed)
N
Post-IFRS 2010-2013
Pre-IFRS 2005-2010
CF*
CF *
1.0000
1.0000
82
-0.6520***
0.0000
82
ACC *
-0.6520***
0.0000
82
1.0000
82
131
-0.4590***
0.0000
131
ACC *
-0.4590***
0.0000
131
1.0000
131
Post-IFRS 2010-2013
R2
F
F critical
Sig.
DW
Spearman BVEPS/P*
Spearman NIPS/P *
N
* Residual
Pre-IFRS 2005-2010
0.3602
22.2402
19.4831
0.0000
2.3209
0.7790 ***
0.4420 ***
82
0.3446
33.6435
19.4879
0.0000
2.0341
0.5220 ***
0.4020 ***
131
*** Significant
at a level of 1%
Nr. 2(122)/2015
Elena NECHITA
Hypothesis
Post-IFRS 2010-2013
82 observations
Models based on the analysis of the existence of earnings smoothing practices
Variability of NI*
Post> Pre
1.6166
Variability of NI* reported to the variability of
CF*
Post> Pre
1.5787
Correlation between CF* and ACC*
Post> Pre
-0.6520
Model based on the analysis of the value relevance of accounting amounts
R2 for the P* regression
Post> Pre
0.3602
*Residual
Pre-IFRS 2005-2010
131 observations
1.3443
1.2285
-0.4590
0.3446
82
REFERENCES
Albu C.N., Albu N., Alexander D. (2013), When global
accounting standards meet the local context -Insights
from an emerging economy, Critical Perspectives on
Accounting
available
at
<http://dx.doi.org/10.1016/j.cpa.2013.03.005>,
accessed March 14, 2014
Barth M., Landsman W., Lang M. (2008), International
Accounting Standards and accounting quality,
Journal of Accounting Research, nr. 3, pp. 467-498
Cai L., Rahman A., Courtenay S. (2014), The effect of
IFRS adoption conditional upon the level of preadoption divergence, The International Journal of
Accounting, nr, 49, pp. 147-178
Christensen H.B., Hail L., Leuz C. (2013), Mandatory
IFRS reporting and changes in enforcement, Journal
of Accounting and Economics, nr. 56, pp. 147-177
Dechow P., Sloan R., Sweeny A. (1995), Detecting
earnings management, The Accounting Review, pp.
193-225
Hodgson A., Nechita E. (2013), The calculation of
comprehensive income under IFRS: High risk of audit
for the Romanian auditors, "Audit Financiar" journal,
No. 9, pp. 28-36
Jermakowicz E.K., Gornik-Tomaszewski S. (2006),
Implementing IFRS from the perspective of EU publicly
traded companies, Journal of International Accounting,
Auditing and Taxation, nr. 15, pp. 170-196
Jones J. (1991), Earnings management during import
relief investigations, Journal of Accounting Research,
pp. 193-228
Nr. 2(122)/2015
Elena NECHITA
84
static/10/Anaf/legislatie/OMFP_3055_2009.pdf>,
accessed on 24 April 2012
*** OMFP no. 1752/2005 approving the accounting regulations compliant with European directives, published in
the Official Gazette of Romania, no. 1080/30.11.2005,
available at <http://www.legex.ro/ Ordin-1752-200554422.aspx >, accessed on 25 April 2012
***OECD, World Bank and USAID (2001), South East
Europe Corporate Governance Roundtable -Corporate
Governance Program for Romania, available at
<http://www.oecd.org/daf/ca/corporategovernanceprinc
iples/2390809.pdf>, accessed on 15 June 2013
Financial
andISSN
Non-Financial
Information
ISSN: 1583-5812;
on-line: 1844-8801
Financial and
Non-Financial
Information in
the Framework
of
Sustainability
and Integrated
Reporting
Abstract
As a consequence of the recent pressures from
a wide range of users of financial and non-financial
information, the concepts of sustainability and
integrated reporting reporting began to gain ground at
the expense of traditional financial reporting.
Several national and international bodies currently
claim the lead in developing guidelines, standards and
regulations on non-financial reporting as a way to
provide additional information to interested
stakeholders. The purpose of this article is to clarify the
concepts of sustainability and integrated reporting, which
influence greatly the future developments in external
reporting of transnational corporations. In this context it
is discussed the role of the main players in setting
uniform standards for the provision of non-financial
information, as well as the impact of those bodies
decisions might have on the audit profession.
Keywords: integrated reporting, sustainability reporting,
audit, assurance
JEL Classification: M41, M42, Q01, Q56
Senior Researcher
tefana Maria DIMA, Ph.D.,
Nr. 2(122)/2015
85
1. Introduction
In a world in constant change, the progress towards a
more sustainable future is difficult to evaluate. Moreover,
the long-term goals of sustainability reporting sustainable environment, profitability and social
responsibility may sometimes constitute competing
endeavors, since as Norgaard (1988) observes
sustainable development will require that the use of
energy and chemicals be subservient to ecosystem
maintenance (p.606). Achieving economic performance
while demonstrating real corporate social responsibility
and protecting the environment is maybe the greatest
challenge that mankind has to face.
An exhaustive concept, sustainability reporting aims to
assist organizations in setting goals and measuring their
performance while contributing to a sustainable
economy. Due to the relevance of the topic, the literature
is rich enough. Hahn & Khnen (2013) provides, for the
period 1999-2011, a review of 178 topic-related articles
published in business, management, and accounting
journals. They observe that there are no major reviews
of the most recent developments and some research
gaps exist in regulation, governance, quality of reporting,
and stakeholders perception.
Adams & Frost (2008) addresses how sustainability key
performance indicators are integrated in decisionmaking, planning and performance management, based
on interviews with British and Australian personnel. They
find evidence for the integration, in the case of those
companies, of environmental and social indicators.
However, despite the global pressure for companies to
report in a more clear, concise and graphic manner the
story of the companys performance and its impact on
the society and environment, not many companies have
included sustainability related issues in their business
model and strategy as well as in their processes.
Moneva et al. (2006) observes that some organizations
that label themselves as reporters of the Global
Reporting Initiative (GRI) do not behave in a responsible
way concerning sustainability question, like gas
emissions, social equity or human rights (p.121).
Moreover, Daub (2007), while performing an analysis of
corporate sustainability reporting in Switzerland, has
interviewed 25 Swiss managers and observes that:
companies are reaching their limits due to increasing
demands for ever more detailed and more frequently
published reports(p.84); in spite of companies
86
Nr. 2(122)/2015
2. Research methodology
From the methodological point of view, we employ
qualitative research methods since this type of analysis
is best suited for the in-depth understanding of the
concepts and institutions involved. In addition, this type
of research intends to reveal trends, connections and
similarities/differences in order to assess the progress
towards sustainable development and delimitate the role
played by corporate reporting in this.
Among the methods of social and human sciences,
those that are complementary in this paper are mainly:
document analysis; comparative method; nonparticipatory observation and archival technique. In
addition, the sources of information include: research
papers, guidelines and frameworks, press releases,
websites, professional opinions, and several studies on
this topic.
3. Sustainability or integrated
reporting: towards a
controversial future
The purpose of the present chapter is to discuss the role
of the organizations involved in providing a new twist to
corporate reporting and improve transparency on
sustainability aspects usually on three directions:
environmental, social, and governance (ESG), as well as
to provide a discussion on the differences between
sustainability and integrated reporting.
88
Nr. 2(122)/2015
https://www.globalreporting.org/information/news-and-presscenter/Pages/REPORTING-AROUND-THE-GLOBE.aspx
90
External
Audit
Assurance
is undertaken by an auditor who is independent from the is undertaken by an external professional who is
entity
independent from the entity
it express an opinion on the financial statements or other it express a conclusion on the areas they assessed and
specified accountability matter
recommendations that is intended to increase the users
confidence in a given subject matter or information
based on historical information
based on past, present and future oriented information
focus on financial information
take into consideration financial as well non-financial
information that could be: quantified measurements, factual
narrative, soft narrative, quantified estimates, qualitative
estimates, and diagrams
audit is generally applicable on the financial statements assurance is applicable in a wide and expanding range of
other areas aside from financial statements, such as1:
or other accountability issues
compliance with regulations, sustainability reports,
greenhouse gas emission statements, prospectuses,
performance audits
CPA, A guide to understanding auditing and assurance: listed companies, October 2014: p. 2
Nr. 2(122)/2015
91
Limited
assurance
(IFAC, 2014)
No
assurance
Hybrid or mix
of different
levels of
assurance
Agreed upon
procedures
Objective
a certification that a
statement is completely
correct
a reduction in assurance
engagement risk to an
acceptably low level in the
circumstances of the
engagement
a reduction in assurance
engagement risk to a level
that is acceptable in the
circumstances of the
engagement, but where
that risk is greater than for
a reasonable assurance
preparing financial
or other reports
a mix of assurance levels,
which might vary on a
disclosure by disclosure
basis
perform procedures of an
audit nature agreed by
practitioner, organization
and the third parties
Evidence
sought/
procedures
entire
(audit every
transaction)
significant
evidence
Conclusion
given
Examples
Unattainable
a high level of
assurance
detailed
testing
procedures
necessary
evidence
positive
conclusion
a moderate level
of assurance
less detailed
procedures
negative
conclusion
no procedure
no assurance
appropriate
procedures
a high or a
moderate level of
assurance
agreed
procedures
no assurance is
expressed
The International Federation of Accountants, (2014), Handbook of International Quality Control, Auditing, Review, Other
Assurance, and Related Services Pronouncements, Volume 1. (IFAC, 2014: 13-14)
92
Nr. 2(122)/2015
Conclusions
In a world with limited resources, the concept of
sustainability gained a lot of interest and support in the
94
http://www.consilium.europa.eu/uedocs/cms_data/docs/
pressdata/en/intm/144945.pdf
REFERENCES
Adams, C.A., Frost, G.R., (2008), Integrating
sustainability reporting into management practices,
Accounting Forum, 32(4): 288302.
Adams, C.A., (2014), The International Integrated
Reporting Council: A call to action, Critical
Perspectives on Accounting, http://drcaroladams.
net/the-international-integrated-reporting-council-acall-to-action/, 17 iulie.
Bonilla-Priego, M.J., Font, X., del Rosario PachecoOlivares, M., (2014), Corporate sustainability
reporting index and baseline data for the cruise
industry, Tourism Management, 44: 149160.
Daub, C.-H., (2007), Assessing the quality of
sustainability
reporting:
an
alternative
methodological approach, Journal of Cleaner
Production, 15(1): 7585.
Dragu, I., Tiron-Tudor, A. (2013), New corporate reporting
trends. Analysis on the evolution of integrated
reporting, Annals of the University of Oradea
Economic Science Series, 1(129):1221-1229
Dumitru, M., Glvan, M.E., Gorgan, C., Dumitru, V.F.
(2013), International integrated reporting framework: a
case study in the software industry, Annales Universitatis Apulensis Series Oeconomica, 15(1) : 24-39
Eccles, R.G., Krzus, M. P., Watson, L. A., (2012), Integrated Reporting Requires Integrated Assurance n
Effective Auditing for Corporates: Key Developments
in Practice and Procedures, edited by Joe Oringel,
161178. London: Bloomsbury Information Ltd.
Flower, J., (2014), The International Integrated
Reporting Council: A story of failure, Critical
Perspectives on Accounting, http://www.science
direct.com/science/article/pii/S1045235414000744
Fras-Aceituno, J.V., Rodrguez-Ariza, L., GarcaSnchez, I.M., (2013), Is integrated reporting
determined by a country's legal system? An
exploratory study, Journal of Cleaner Production,
44: 4555.
Garcia-Sanchez, I.-M., Rodriguez-Ariza, L., FrasAceituno, J.-V., (2013), The cultural system and
integrated reporting, International Business Review,
22: 828838.
Hahn, R., Khnen, M., (2013), Determinants of
sustainability reporting: a review of results, trends,
theory, and opportunities in an expanding field of
research, Journal of Cleaner Production, 59: 5-21.
Nr. 2(122)/2015
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96
ifac.org/sites/default/files/publications/files/ISAE%20
3000%20Revised%20-%20for%20IAASB.pdf
Institute of Directors in Southern Africa - IDSA, (2009),
The King III Report on Corporate Governance for
South Africa, http://c.ymcdn.com/sites/www.iodsa. co.
za/resource/collection/94445006-4F18-4335-B7FB7F5A8B23FB3F/King_Code_of_Governance_for_SA
_2009_Updated_June_2012.pdf
International Federation of Accountants - IFAC, (2014),
Handbook of International Quality Control, Auditing,
Review, Other Assurance, and Related Services
Pronouncements, Vol. 1.
International Integrated Reporting Council - IIRC, (2013),
The International <IR> Framework, http://www.
theiirc.org/wp-content/uploads/2013/12/13-12-08THE-INTERNATIONAL-IR-FRAMEWORK-2-1.pdf
International Integrated Reporting Council - IIRC, (2014),
Assurance on IR an exploration of issues,
http://www.theiirc.org/wpcontent/uploads/2014/07/Assurance-on-IR-anexploration-of-issues.pdf
KPMG, (2012), Integrated Reporting Performance
Insight through Better Business Reporting, issue 2,
http://www.kpmg.com/global/en/issuesandinsights/a
rticlespublications/integratedreporting/pages/default.aspx
Women
Presence
into the
Board Directors and Audit Committees
ISSN: 1583-5812;
ISSN on-line:
1844-8801
Study of the
Women
Presence into
the Board
Directors and
Audit
Committees
Level of
Romanian
Banks
Abstract
Gender diversity (gender equality) in the boardroom and
generally within organizations has registered
increasingly more considerable interest in public debates
and academic research, last but not least in corporate
strategies.
The purpose of this article is to provide an overview of
international research and practices related to women in
the composition of the board directors and audit
committees. Also, this article aims to assess the
involvement of women into the management structures
and the audit committees of the most important actors
within the banking system from Romania.
The research methodology was based essentially on
observations of the published documents on the
websites of analyzed banking companies, important
conclusions regarding the level of involvement of women
in leadership of the banking system from Romania is
made in the end of the presentation.
Keywords: corporate governance, banking system,
board of directors, audit committee, supervisory
JEL Classification: M48, G21, G34
Nr. 2(122)/2015
97
1. Introduction
Considered until recently as a social problem, the
gender diversity (gender equality) in the boards is
increasingly perceived as a 'value-driver' (leading value)
in the context of organizational strategy and corporate
governance, based for various reasons (Terjesen, Sealy
and Singh, 2009).
First, this topic is progressively becoming a component
of the investment practices, the institutional investors
taking into consideration the board diversity (Carter,
Simkins and Simpson, 2003).
Secondly, gender diversity (gender equality) is imposed
by the important stakeholders such as customers or
employees. Taking into account of preferences,
concerns and aspirations of stakeholders could be
beneficial for companies by improving customer loyalty
and employee motivation (Powell, 1999).
Thirdly, the recent legislation and worldwide diversity
initiatives have highlighted the importance of women's
representation at board level. For example, the
Norwegian government requires companies to appoint at
least 40% of women within structure of boards of
directors. Spain and France will implement the same
goals by 2015 and 2017 respectively (Terjen et al., 2009).
Fourthly, board composition issues have been also
discussed by the best practices in corporate
governance. For example, the Sarbanes Oxley Act of
2002 (the United States) or reviewing legislation in the
UK encourages greater diversity in the composition of
the board (Adam and Ferreira, 2009; Dalton and Dalton,
2008).
Finally, gender diversity (gender equality) is currently on
the agenda of companies, since more women held top
management positions. Thus, the percentage of women
who have the qualities of members of boards directors
or to fill the positions of president (CEO) are expected to
have an ascending trend in the coming period (Helfat,
Harris and Wolfson, 2006).
The crucial role of the Audit Committee on the
governance structure of the entity is conferred on and its
ability to ensure the maintenance of quality control
systems, positively impacting the disclosure of financial
information (Andrsson and Daoud, 2005; Coller, 1993).
At the level of banking system, the audit committee has
clear responsibilities in ensuring transparency,
monitoring the financial reporting process; look for the
98
Nr. 2(122)/2015
100
BCR
BRD
UNICR
RAIFF
TRANS
CARP
CEC
EXIMBANK
10
1
(20,00%)
5
1
(20,00%)
5
2
(18,18%)
11
1
(16,67%)
6
BCR
BRD
UNICR
RAIFF
VOLKS
TRANS
CARP
CEC
EXIM
BANK
1
(20,00%)
5
2
(40,00%)
5
1 (33,33%)
3
(42,85%)
7
Nr. 2(122)/2015
101
102
BCR
BRD
UNICR
RAIFF
VOLKS
TRANS
CARP
CEC
Positions held by
women (%)
0%
0%
0%
33%
33%
33%
33%
33%
EXIM
BANK
0%
4. Conclusion
In our approach on analysing the women presence at
the management structures of the banking system from
Romania, we have noticed that women still have a
relatively low share in the structure of Boards Directors
and Audit Committees.
At European level, and not only, majority of banks have
taken the initiative to increase the number of seats held
by women in their management structures. Thus, the
Lloyds Banking Group will make a strategic move
related to the diversity of its employees, considering that
40% of management positions will be held by women, in
the next years until 20201.
However, in Japan, in 2014 for the first time, a woman
was appointed to lead a bank of the Nomura Holdings
financial group. At the same time, women were
appointed to get into board directors of Daiwa.2
In this international context, having regarded the
promotion of gender diversity (gender equality) at the
board of directors level in recent years, we consider it
necessary to register an ascending trend of seats held
http://news.sky.com/story/1204659/lloyds-sets-target-forwomen-executives
2 http://ziare.com
1
Nr. 2(122)/2015
http://www.europarl.europa.eu/news
103
Acknowledgment
This work was cofinanced from the European
Social Fund through Sectoral Operational Programme
Human Resources Development 2007-2013, project
number POSDRU/159/1.5/S/134197 Performance and
excellence in doctoral and postdoctoral research in
Romanian economics science domain.
REFERENCES
Adams, R.B. and Ferreira, D. (2009), Women in the
boardroom and their impact on governance and
performance, Journal of Financial Economics, 94,
291-309
Ahern, K.R. and A.K. Dittmar, A.K. (2011) The Changing
of the Boards. The Impact on Firm Valuation of
Mandated Female Board Representation, Working
Paper, University of Michigan
Ashforth, B.E. and Gibbs, B.W. (1990) The DoubleEdge of Organizational Legitimation, Organization
Science,1, 177-194
Brammer, S.Millington, A. and Pavelin, S. (2009),
Corporate Reputation and Women on the Board,
British Journal of Management, 20, 17-29
Becker, C.S. (1964), Human Capital: A Theoretical and
Empirical Analysis with Special Reference to
Education, New York: National Bureau of Economic
Research: Columbia University Press, p. 187
Byrnes, J.P., Miller, D.C. and Schafer, W.D. (1999)
Gender Diversity in Risk Taking: A Meta-Analysis,
Psychological Bulletin, 125, 367-383
Carter, D.A., Simkins, B.J. and Simpson, W.G. (2003)
Corporate Governance, Board Diversity and Firm
Value, Financial Review, 38, 33-53
Dalton, D.R. and Dalton, C.M. (2008), On the Progress
of Corporate Women: Less a Glass Ceiling Than a
Bottleneck?, in S. Vinnicombe, V. Singh, D.J. Burke,
D. Bilimoria and M.Huse (ed.), Women on
Corporate Boards of Directors (Cheltenham:
Edward Elgar Publishing)
Fama, E.F. and Jensen, M.C. (1983), Separation of
Ownership and Control, Journal of Law and
Economics, 26, 301-325
104
Nr. 2(122)/2015
105
Audit
financiar, XIII, Nr. 2(122)/2015,
106-115
Carmen-Alexandra
BALTARIU
ISSN: 1583-5812; ISSN on-line: 1844-8801
Consolidated
Financial
Statements:
A Twelve Years
Literature
Review
Abstract
The purpose of this paper is to assess the scientific
literature referring to consolidated financial statements
over a twelve year period starting from 2002. The
research methodology of this paper consists of a
cross-sectional and longitudinal qualitative analysis
approached from a theoretical (conceptual)
perspective. The qualitative analysis carried out
presents a deductive approach, the conclusions
regarding the general characteristics of the research
field pertaining to consolidated financial statements
being based on the main results and scientific
contributions identified in the research field of interest.
Keywords: consolidated financial statements, IFRSs,
literature review, qualitative analysis
JEL Classification: M40; M41; M48
Carmen-Alexandra BALTARIU,
Ph.D. Student
Faculty of Economic Sciences and Business
Administration, Babe-Bolyai
University of Cluj-Napoca, Romania
106
1. Introduction
The emergence of the group as a new economic
structure consisting of a number of subsidiaries and
affiliated companies under the control of a parent
company has generated the need for a different type
of financial reporting in order to provide relevant
information about the position and performance of this
business structure. The evolution of financial reporting
for groups has led to a new type of structure and
presentation of the financial information pertaining to
groups, namely the consolidated financial statements.
The attention received by consolidated financial
statements in accounting research is due, on the one
hand to the importance of the group structures within
the national, regional and global economy and on the
other hand to the international regulators' concerns
about the international financial reporting standards.
The purpose of this paper is to assess the scientific
literature referring to consolidated financial statements
over a twelve year period starting from 2002. Following
our analysis we point out the main characteristics of the
research field of interest between 2002 and 2014. As
Feleag, Feleag & Dragomir remarked in their paper
(2009, p. 10), by reviewing the scientific literature
published in a research area of interest some key
objectives can be achieved, namely providing access
to the existing theories, understanding the research
methods used, assessing the progress of knowledge,
and also identifying future opportunities for research.
This paper represents a descriptive review of the
current state of knowledge in the accounting research
field pertaining to consolidated financial statements. In
the following, we provide a brief overview of the most
important events related to the consolidated financial
statements regulation which took place between 2002
and 2014.
In 2002 the signing of the Norwalk Agreement marked
the beginning of the collaboration between the
International Accounting Standards Board and the
Financial Accounting Standards Board regarding the
convergence process of the IFRSs and the U.S.GAAPs. The same year the E.C. Regulation
1606/2002 of the European Parliament and the
European Council referring to the application of
International Accounting Standards (IASs) in the
European Union was issued. In 2003 through the E.C.
Nr. 2(122)/2015
2. Research Methodology
The research methodology of this paper consists of a
cross-sectional and longitudinal qualitative analysis
approached from a theoretical (conceptual)
perspective. The qualitative analysis carried out
presents a deductive character. Our conclusions
regarding the general characteristics of the research
107
Carmen-Alexandra BALTARIU
3. Literature Review
108
Nr. 2(122)/2015
109
Carmen-Alexandra BALTARIU
Nr. 2(122)/2015
Carmen-Alexandra BALTARIU
112
REFERENCES
Aceituno, F., Valeriano, J., Bolivar, R. & Pedro, M.
(2006), The conceptual framework concept and the
allocation of incomes in the consolidation entity: its
impact on financial ratios, International Journal of
Commerce & Management, Vol. 16, No. 2: 95-115;
Bauman, M. P., (2007), Proportionate consolidation
versus the equity method: additional evidence on
the association with bond ratings, International
Review of Financial Analysis, Vol. 16, No. 5: 496507, DOI: 10.1016/J.irfa.2007.06.005;
Beuselinck, C. & Deloof, M. (2014), Earnings
management in business groups: tax incentives or
expropriation concealment?, The International
Journal of Accounting, Vol. 49: 27-52, DOI:
10.1016/J.intacc.2014.01.008;
Borenstein, M., Hedges, L. V., Higgins, J. P. T. &
Rothstein, H. R. (2009), Introduction to metaanalysis, Chichester, United Kingdom: John Wiley &
Sons Publication;
Botosan, C. A., Hirst, D. E., Venkatachalam, M., Maines,
L. A., Bartov, E., Beatty, A. L., Fairfield, P. M.,
Iannaconi, T. E. & Mallett, R. (2003), Comments on
the FASBs proposals on consolidating specialpurpose entities and related standard-setting
issues, Accounting Horizons, Vol. 17, No. 2 (June):
161-173;
Bradbury, M., Dean, G. & Clarke, F. L. (2009),
Incentives for non-disclosure by corporate groups,
Abacus, Vol. 45, No. 4: 429-454, DOI:
10.1111/j.1467-6281.2009.00298.x;
Bdy-Rzsa, I. (2012), New trends in consolidation
challenging the changes of new IFRS rules,
Periodica Polytechnica, Social and Management
Sciences, Vol. 20, No. 1, DOI: 10.3311/pp.so.20121.02;
Churyk, N. T. (2005), Reporting goodwill: are the new
accounting standards consistent with market
valutions?, Journal of Business Research, Vol. 58:
1353-1361, DOI: 10.1016/j.jbusres.2004.05.006;
Ding, Y., Stolowy, H. & Tenenhaus, M. (2003),
Shopping around for accounting practices: the
Nr. 2(122)/2015
113
Carmen-Alexandra BALTARIU
Nr. 2(122)/2015
115
Abstract
Incursion in
the Audit and
Accounting
Research Over
One Decade.
Intuitive Analysis on
the Articles Published
in "Audit Financiar"
Journal
Lecturer Ionela-Corina CHERSAN, Ph.D.,
"Alexandru Ioan Cuza" University, Iasi, Romania,
e-mail: macov@uaic.ro
Professor Marilena MIRONIUC1 Ph.D.,
"Alexandru Ioan Cuza" University, Iasi, Romania,
e-mail: marilena@uaic.ro
The present paper is the result of a descriptiveexplanatory longitudinal study performed on the articles
published in "Audit Financiar" (Financial Audit) Journal,
over a decade, in order to intuitively provide a first image
on the structure of the scientific output in this specific
journal, through the viewpoint of the research areas
identified in the audit and accounting fields.
The structure of the topics of the publications, their
dynamics according to the status and institutional
affiliation of the authors, the extent of the collaboration in
research / publication, the number of quotations of the
articles in the journal, have been the analysed variables
in order to characterise the structure of knowledge in the
fields of audit and accounting, the concentration of the
publications according to the institutions to which their
authors belong or their impact on the development of
research in the field. The study was based on a
population of 720 articles extracted from the 112 issues
of the "Audit Financiar" journal, published between 2003
and 2013. In order to characterise the scientific
publications in "Audit Financiar" and to extract
inferences following the intuitive analysis, through direct
observation and through a comparative analysis of the
database contents, the authors resorted to the approach
specific to content analysis.
The studies lead to the conclusion that the articles
published in this strictly specialised journal are grouped,
according to the topics they approach, around the
tendencies of the international market of ideas, with an
accent in certain periods on "trendy" subjects. In spite of
this influence on the research in the audit and
accounting fields, modest at first sight, if considered
linked to the number of quoted articles or to the low
degree of international exposure, "Audit Financiar" is a
publication that, due to its publishing policy, is under
continuous development of its scientific degree, of its
national and international visibility.
Keywords: research, audit, accounting, bibliometrics,
content analysis
JEL Classification: M21, M40, M41, M42
116
1. Introduction
Publishing in specialised magazines has always been a
challenge as well as a professional obligation for
teachers and researchers. The changes in legislation
concerning the development of the academic career, as
well as the ever higher demands reflected in the
dynamics of the evaluation criteria applied in research,
have recently determined an increase in the need and
desire to publish, which generated, on the one hand, a
development in the number of quoted / indexed
specialised magazines and, on the other hand, an
increase in the number and quality of the published
articles.
The rise of the knowledge level in all scientific fields is
mainly due to the dissemination of the researchers'
ideas and explicit knowledge, through publications in
magazines, journals, and specialty books (Chtioui, T.,
Soulerot, M., 2006, p. 8). In recent years, we can note a
tendency towards the specialisation of university studies,
respectively a higher frequency of specialised
researchers who publish in magazines with a welldefined identity, who acquire prestige and visibility in a
hyper-specialised scientific community.
Research in the fields of audit and accounting
qualitatively depends, in turn, on spreading information
through the publication of articles written by specialised
researchers in the field, so that knowing the context of
the research concerns in the mentioned fields, for the
period 2003-2013, and in relation to international
tendencies, is definitely useful.
At an international level, for the accounting and audit
fields, we can identify numerous studies that use
bibliometrics on the articles published in representative
specialised magazines or on quoted references, in order
to identify the structure of knowledge and the factors that
influence the knowledge used in publications, or to
measure the degree of concentration of the publications.
The first part of the present paper, dedicated to a review
of specialised literature related to the bibliometry studies
performed in the fields of accounting and audit, is
followed by a section that summarises the methodology
used to collect the data and analyse the results of the
evaluation of the structure of the scientific articles
published in "Audit Financiar" journal, taking into
account the selected analysis criteria. An analysis of the
quotations and self-quotations of the articles included in
the magazine over time has also been performed, in
Nr. 2(122)/2015
117
3. Research Methodology
This paper can constitute a scientific production study,
created on a database made up of the set of articles
published in the "Audit Financiar" issues, for the period
2003-2013. We have thus attempted to stress the
influence of this journal on the knowledge in the fields of
audit and accounting, following the analysis of the
structure of the topics approached by authors with
different statuses and institutional affiliation, in
identifying the degree of collaboration in research /
publication, in quantifying the annual number of
quotations of journal's articles and its extent of
internationalisation.
In order to build up a corpus of reliable data, a minute
process of analysis of 112 issues was initiated for the
period 2003-2013, together with the manual collection of
720 articles from the website of the "Audit Financiar"
journal or from the ProQuest database, where it is
indexed. We excluded from this database the articles
that summarised: professional debates, seminars,
studies, conferences and congresses. The articles that
remained in the database have been classified
according to their belonging to the two research fields,
accounting and audit, and then, within each field, to
thematic areas (Table no. 1.). The articles that touched
in an interdisciplinary manner several areas have been
classified according to the most significant topic
identified in the article. According to the methodology
specific to content analysis, in order to meet the need for
a detailed study, organising the database involved
designing a list of variable-criteria, relevant for the
purpose of our research, and interdependent tables that
summarise information on: the year and number when
the articles were published, the author(s), their
institutional affiliation, their professional status
(academic / researcher, practitioner, PhD Student etc.),
the quality of member of the Scientific Editorial Board of
the journal, key words, and number of quotations. In
order to identify the annual number of readers of the
articles included in the analysed population, we
interrogated the ProQuest database and used the
Publish or Perish quotation research and analysis
software (Harzing, 2009). Verifying the collected data in
Nr. 2(122)/2015
4. Research Results
After examining the annual flow of articles published in
"Audit Financiar" journal during the analysed period
(Table 1), we noticed an obvious superiority of the
articles specific to the field of Audit (55.5% of the total
population, with a mean for the analysed period of 36.3
articles per year), in comparison with the articles in
Accounting (44.5% of the total number of 720 articles,
the mean for the period being 29.2 articles per year). An
exception is 2004, when the articles in Accounting
overtake, both in number (10) and in weight (62.5% of
the annual number of published articles) those that
approach topics specific to the field of Audit (6 articles
representing 37.5% of the articles published in 2004 in
the analysed magazine) (Table 2). In the following years
of the analysed period, we notice a continuous tendency
towards diminishing the difference between the number
of published articles in the two fields, so that in 2012 the
articles in Accounting (43 articles, respectively 53.7% of
the number of articles published that year) exceed those
in Audit (37, articles, representing 46.3% of the annual
number of published articles), the balance being
reached only in 2013.
A ranking of the topics that raised the interest of the
authors of the magazine during 2003-2013 show that the
1st place was taken by "External financial audit", with
27.8% of the total articles published within the analysed
period and a mean for the period of 18.2 published
articles per year. The topic "Accounting practices /
Regulations /Reporting" gained second place, with 24%
of the total population of published articles and a mean
for the period of 15.7 articles per year. The last places in
the hierarchy, according to the representation in Table 2,
are occupied by topics in both research fields, which
demand a high degree of specialisation in order to be
approached, such as: "The audit of information systems
119
Table 1. Characterisation of the dynamics of the articles published in "Audit Financiar" journal according to
fields and topics, for the period 2003-2013
Accounting: topics
Finance / Financial
analysis
Total Accounting
Field
26
10
36
2004
10
16
2005
11
17
2006
19
20
49
27
36
85
2007
34
14
55
24
13
41
96
2008
22
14
10
48
18
29
77
2009
16
10
12
42
14
18
37
79
2010
21
14
49
20
35
84
2011
28
38
24
11
36
74
2012
20
37
21
18
43
80
2013
27
38
15
22
38
76
200
89
81
29
399
173
44
104
321
720
18.2
8.0
7.4
2.7
36.3
15.7
4.0
9.5
29.2
65.5
Total/Grand total
(%)
27.8
12.4
11.3
4.0
55.5
24.0
6.0
14.4
44.5
100
Ranking of topics
IV
VII
II
VI
III
II
Grand total
2003
Analysed period
Internal audit
Accounting
practices/ National
and international
regulations /Financial
reporting
Audit: topics
120
Table 2. Number and structure of the articles published in "Audit Financiar" according to fields and topics for
the period 2003-2013
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Grand total
Finance / Financial
analysis
Accounting practices/
National and
international regulations
/Financial reporting
Accounting: topics
Internal audit
Analysed
period
Audit: topics
No
26
10
36
25.0
19.4
22.2
5.6
72.2
13.9
11.1
2.8
27.8
100
No
10
16
12.5
12.5
12.5
37.5
18.7
31.3
12.5
62.5
100
No
11
17
11.8
17.7
11.8
23.4
64.7
11.8
17.6
5.9
35.3
100
No
19
20
49
27
36
85
22.4
5.9
23.5
5.9
57.7
31.7
8.2
2.4
42.3
100
No
34
14
55
24
13
41
96
35.4
14.6
6.3
1.0
57.3
25.0
4.2
13.5
42.7
100
No
22
14
10
48
18
29
77
28.6
18.2
13.0
2.6
62.4
23.3
5.2
9.1
37.6
100
No
16
10
12
42
14
18
37
79
20.3
12.7
15.2
5.0
53.2
17.7
6.3
22.8
46.8
100
No
21
14
49
20
35
84
25.0
16.6
10.8
5.9
58.3
23.8
7.1
10.8
41.7
100
No
28
38
24
11
36
74
37.8
10.8
1.4
1.4
51.4
32.4
1.4
14.8
48.6
100
No
20
37
21
18
43
80
25.0
7.5
10.0
3.8
46.3
26.3
22.4
53.7
100
No
27
38
15
22
38
76
35.6
7.9
6.6
50.1
19.7
1.3
28.9
49.1
100
Nr. 2(122)/2015
122
Table 3. Topics identified in research in the field of accounting in France, for the period 2004-2013
Topic
IFRS
Audit
Financial
information
Results
management
Management
control and
costs
Study subject
Transition, impact studies, the contents of IFRS
International normalisation
Specific norms (IFRS 2, IAS 32/39, IAS 38, IFRS 3, IAS 36, IFRS 8)
Agents and influence factors in the quality of audit
Internal audit in the banking and public sectors
Professional deontology: ethics, independence, the auditor's competences
The market of audit, selecting the auditor, audit committees, fees
Financial reporting, the quality of reporting,
Value relevance, contents, credibility of reporting, and stock exchange performance
Results management in special situations: mergers, taking under control, diversification, changing the
manager, quota withdrawal
Accounting manipulation, fraud
The connection between management control, strategy, value management, the ABC method
The piloting system: the analysis of management performance, performance measurement systems
(dashboard, BSC), the connection between social liability and strategy
Forecast and budget management
Source: Processing after Tort, E., Quelques lments concernant la recherche comptable en France, Revue Franaise de
Comptabilit, no. 472, Jan 2014, p. 20
Figure 1. Structure of the articles of "Audit Financiar" journal according to the number of authors per article
for the period 2003-2013
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123
Figure 2. Structure of the articles of "Audit Financiar" according to the authors' status,
for the period 2003-2013
Figure 3. Structure of the articles of "Audit Financiar" according to the institutional affiliation of the authors,
for the period 2003-2013
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Figure 4. The dynamics of the number of articles published by PhD students in "Audit Financiar"
journal for the period 2003-2013
Figure 5. Number of articles published by authors members of the Scientific Editorial Board of
"Audit Financiar" journal, for the period 2003-2013
126
Figure 6. Annual number of quotations of the articles of "Audit Financiar" journal, for the period 2006-2013
Nr. 2(122)/2015
Conclusions
The "Audit Financiar" journal is a strictly specialised
publication for the fields of audit and accounting. The
articles published in this magazine are aligned, through
the topic approached, with the tendencies of the idea
market in an international context.
The magazine is characterised, nevertheless, by a low
degree of internationalisation, estimated both through
the not very significant number of foreign authors who
published in "Audit Financiar" journal, and in relation
with the quasi-inexistent number of quotations of articles
included in it in specialised publications abroad. The low
degree of internationalisation can be explained, on the
one hand, by the fact that until 2015 the journal was only
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Chan, K.C., Chan, K.C., Seow, G.S., Tam, K. (2009),
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