ANALYTICAL PROCEDURES USED IN FINANCIAL AUDIT FOR THE VALUATION OF PORTFOLIO PERFORMANCES – CASE OF FINANCIAL INVESTMENT COMPANIES
Journal Title: Annales Universitatis Apulensis series Oeconomica - Year 2009, Vol 11, Issue 1
Abstract
Conducting financial audit engagements for Financial Investment Companies is based in a significant measure on the conception and performance of analytical procedures that assist the auditor in the process of elaborating general conclusions regarding the performances of the managed portfolios. In connection with the issue of construction a system of indicators for assessing the portfolio performances, we remark the approach from the perspective of portfolio managers, though it is not explored their usefulness as analytical procedures used in a financial audit engagement conducted in investment companies. The approach to scientific research has considered, mainly, the analysis of financial statements published by the five Financial Investment Companies in the period 2006-2008, the comparison of portfolio performances in correlation with the reported net asset value, as well as the inspection of trading reports issued by the market operator Bucharest Stock Exchange and analysis reports issued by the Romanian Association of Fund Managers.
Authors and Affiliations
Tatiana Dănescu, Ovidiu Spătăcean
Keywords
Related Articles
- EP ID EP118927
- DOI -
- Views 97
- Downloads 0
ROMANIAN CONSUMER PERCEPTION TOWARDS MOBILE MARKETING CAMPAIGNS
The present article highlights the main aspects concerning consumer perception towards mobile marketing campaigns. The qualitative research conducted by the authors complete their earlier findings regarding future trends...
NEW CHALLENGES FOR R&D AND INNOVATION IN ROMANIA
Romania is currently facing many difficulties in order to cope with financial and economic crisis as well as to reach the Europe 2020 targets. This paper presents the new challenges faced by Romanian Research, Developm...
LIPSTICK EFFECT IN ROMANIA: PROPENSITY TO BUY COSMETICS AND STOCK MARKET EVOLUTIONS
Usually, consumer spending declines during recession. Cosmetics seem to disobey this rule; there are evidences to prove that women spending on beauty products increased during the economic turmoil. The scarcity of deta...
FRAUD AND ERROR. AUDITORS' RESPONSIBILITY LEVELS
Are auditors responsible for detecting fraud in the companies they inspect? Most of the public thinks they are. Auditors often demur. The auditors' duties for the prevention, detection and reporting of fraud, other illeg...
CONSIDERATIONS REGARDING THE INFLUENCE OF THE BASE LEADING RATE OVER INVESTMENT PROJECTS FINANCED BY EU FUNDS
The investment process is a complex economic process that implies risks. Allotting capital resources in an investment project without using an adequate discount rate of the cash flows, which will take into account the ev...