The Detection and Prevention of Financial Frauds in Order to Strengthen the Financial Performance of Companies in Republic of Srpska

Тајана Сердар; Свјетлана Врањеш

doi:10.7251/ACE1319179S

Authors

Тајана Сердар Економски факултет Универзитета у Бањој Луци
Свјетлана Врањеш Економски факултет Универзитета у Бањој Луци

DOI:

https://doi.org/10.7251/ACE1319179S

Keywords:

financial frauds, forensic accounting, financial performances, financial indicators

Abstract

The global trends, economic and financial crisis, as well as numerous corporate and banking scandals and downs caused by financial frauds require review and active advancement of former theoretical postulates and professional principles the corporate sector is based on. Professional and regulatory institutions and decision makers in companies are faced with new challenges in the form of a need for knowledge integration and interdisciplinary approach beyond the scope of current accounting practice and corporative governance. Mentioned is reﬂected precisely in the introduction and strengthening of a forensic accounting as a new discipline, in order to detect and prevent financial frauds that cause tremendous losses not only to companies but also to the economy as a whole. THe paper deals with the concept, causes and methods of preventing financial frauds within the forensic accounting and their treatment in order to strengthen the financial performance of companies in Republic of Srpska.

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