АНАЛИЗА ФИНАНСИЈСКИХ ПРЕВАРА У УСЛОВИМА ГЛОБАЛНЕ КРИЗЕ, СА ОСВРТОМ НА БОСНУ И ХЕРЦЕГОВИНУ
FINANCIAL FRAUDS ANALYSIS IN THE CONDITIONS OF THE GLOBAL CRISIS WITH REFERENCE TO BOSNIA AND HERZEGOVINA

Author(s): Tajana Serdar Raković, Svetlana Sabljić
Subject(s): Economy, Business Economy / Management, Energy and Environmental Studies, Accounting - Business Administration, Corruption - Transparency - Anti-Corruption
Published by: Savez računovođa i revizora Republike Srpske
Keywords: financial frauds; financial statement fraud; corruption; asset misappropriation; forensic accounting;
Summary/Abstract: Global tendencies and outbreaks, the Covid-19 pandemic and the Ukrainian crisis, as well as numerous problems in the corporate sector, have increased the risk of financial frauds. Businesses are still struggling to manage their business operations, generate cash and keep their businesses afloat. All of the above increases the pressure to meet goals such as profit, financial performance and market and stakeholder expectations. Managers and employees may be tempted to manipulate financial statements to avoid business failure. In order to successfully combat financial frauds, it is necessary to know and understand the concept, types and causes of frauds and the way they are carried out. According to the research results, the share of asset misappropriation in the total number of financial frauds in Bosnia and Herzegovina is 61%, while financial statements frauds and corruption number 21% and 18%, respectively. A successful fight against financial frauds isa combination of prevention, detection, research and undertaking of legal and control measures. The paper deals with the concept, types and frequency of financial frauds, methods for reducing the risk of frauds and opportunities for prompt and more efficient detection of committed frauds, with special reference to Southeastern Europe and Bosnia and Herzegovina.

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