Corporate governance and financial reporting in Macedonia through the prism of independent auditors report

Dimitrova, Janka and Gorgieva-Trajkovska, Olivera and Koleva, Blagica and Nachova, Aleksandra and Dimitrova, Eftimija (2016) Corporate governance and financial reporting in Macedonia through the prism of independent auditors report. Journal of the Institute of Economics - Skopje. ISSN 1409-7893, e-ISSN 1857-7741

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Abstract

In companies with good corporate governance decisions are made not only for achieving economic objectives, in the strict meaning of this concept, but also because of protecting the interests of the stakeholders. One of the most important characteristics of companies with good corporate management is their commitment to maintain a high degree of transparency, demonstrated by consistently reporting of their situation. In the terminology of corporate governance, one of the most important form of transparency is disclosure of data and information for companies.
Through transparent disclosure of financial statements, the companies inform stakeholders about the financial position and performance, changes in equity and cash flows, as well as the accounting policies used in disclosures of operating activities in the reporting period. Through the opinion of the independent external auditor, stakeholders are informed whether the financial statements are prepared in accordance with generally accepted financial reporting framework and applicable legislation.
Companies clinging to quality corporate governance are introducing control and informative systems, to maintain the high level of quality of its products and services, as well as quality prepared financial statements, for which the external auditors provide a positive opinion. From this reason the paper presents research on the quality of corporate governance in Republic of Macedonia, through the prism of the reports of the independent auditors, by analyzing the audit reports of 100 companies listed on the Macedonian Stock Exchange.
Keywords: corporate governance, reporting, transparency, decisions, smallest risk

Item Type:	Article
Subjects:	Social Sciences > Economics and business
Divisions:	Faculty of Economics
Depositing User:	Janka Dimitrova
Date Deposited:	14 Feb 2017 13:50
Last Modified:	14 Feb 2017 13:50
URI:	https://eprints.ugd.edu.mk/id/eprint/17396

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