Authors: Liudmila LAPIȚKAIA, Alexandru LEAHOVCENCO
Abstract: The rapid development of information technology leads to various opportunities for both individuals and businesses to conduct including financial transactions through the Internet. In such circumstances, cyber security issues become very relevant. In this regard, the European Parliament regularly reviews and updates the cybersecurity regulatory framework. In turn, the Republic of Moldova should also update its legislative framework in the field of cyber security in order to bring it in line with European standards. On the basis of this analysis, the normative documents on cyber security of the Republic of Moldova are considered and the directorates for further development of cyber security in Moldova are established.
Keywords: cyber security, Cybersecurity act, the NIS Directive, the National Cyber Security Program of the Republic of Moldova.
Pages: 6-14 | Full text (PDF)
Authors: Anastasia BEJAN
Abstract: In recent years, the internal governance issues in the banking sector have received increased attention on the international level. One of the global financial crisis causes was banks’ weak and superficial internal governance practices. Before the financial crisis, banks have not effectively implemented the internal control mechanisms and risk management, because the goal of profit maximization prevailed and conditioned the banks managers to take the decisions with a high degree of risk. The European Banking Authority (EBA) is constantly concerned with issuing the best policies for an efficient banking supervision in the European countries. In this context, EBA included the internal governance assessment as a component of the Supervisory Review and Evaluation Process (SREP). The difference between the previous researches on the internal governance topic and the present article is the fact that it analyzes the peculiarities of the internal governance assessment during the SREP process, performed by the supervisory authority. The supervisory authority task is to assess whether or not a bank’s internal governance arrangements are adequate for and correspond to the institution’s risk profile, business model, size and complexity. The score assigned following the internal governance assessment expresses the supervisory authority view on the adequacy of the institution’s internal governance arrangements and institution wide controls.
Keywords: banks, banking supervision, internal governance, internal control, risk management
Pages: 15-26 | Full text (PDF)
Authors: Inga BULAT, Rodica PERCIUN
Abstract: The purpose of an internal audit is to provide advice and provide objective assurance on the effectiveness of the managerial internal control system by providing recommendations that ensure and contribute to improving the work of the public entity. By assessing systems, processes, high-risk activities in the presence of errors, fraud, irregularities or significant non-conformities. The reality shows that, depending on the determinants, synthesized in pressures, opportunities and attitudes, there are significant differences in the risk of fraud. Differences can be identified at different levels of the internal control system, areas of activity and in different times, between financial years. The risk of fraud and corruption must be managed by the entity's management but also regularly evaluated by the internal auditor in conducting audit engagements. The establishment, assessment of the control environment and the management of major risks with a high degree of fraud implies a concise mechanism of effective activities in the prevention of fraud and corruption at entity and process level. This article will outline the basics of fraud in the public entity, the assessment of fraud risk by internal auditors using non-statistical models and indicators.
Keywords: internal audit, fraud risk, internal control, fraud, audit mission, entity
Pages: 27-36 | Full text (PDF)
Authors: Elena TĂLMĂCIAN
Abstract: The present article is based on a research on economic students’ comfort degree regarding the experience of being taught in English. The survey was addressed to 150 1st year students within The Faculty of Accounting and Management Information, the Bucharest University of Economic Studies that are taught the whole academic program (6 courses and 7 seminars) in English. Although most of the surveyed students have a C1 level of English, our target was to find out the challenges of an academic program in English, whether there are any communication barriers, how comfortable surveyed students feel about being taught in English, taking into account the fact that the subjects that they study are economic ones, therefore they operate with lots of specialized terms and expressions which may unfavorably impact students’ comprehension.
Keywords: English-taught bachelor’s programme, economic students' perception, comprehension challenges
Pages: 37-42 | Full text (PDF)