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The phenomenon of credit risk is one of the main distresses for the bank portfolio. If it becomes nonviable to gather claims from various main clients, a bank could persist in being insolvent. The latest financial crises have distinguished the necessity for a bank to identify, measure, assess, and control credit risk, in addition to providing an acceptable degree of capital to protect against possible decline in case of loan defaults. Accordingly, risk management depends steadily on the straight implementation of mathematical and statistical methods and models and the application of their outcomes for business goals. The aim of this paper is to present the disclosures that are related to bank credit risk, bearing in mind that credit risk management is one of the indicators of the results of banking operations.

The objective of this paper is to show that a successful implementation of accounting represents infrastructural support for successful management therefore its content and structure should be more closely monitored in the function of increasing the effectiveness of the financial management, and not just in the function of execution of the objectives in the budget. The paper indicates that the essence of the reform of the accounting system and financial reporting by public sector entities is the use of the concepts and principles on which the financial reporting by private sector entities is based, or the transition to the financial reporting based on accrual accounting. Public sector managers who often do not see themselves as managers who manage available resources, but rather as managers who pursue a policy of some of the specialized public sector functions, need instead to be fully engaged in the financial management and control.

The aim of this paper is to highlight the importance knowledge management and business processes management has in the modern economy. The paper reflects on the impact of knowledge management on business processes and on the improvement of the management thereof, on the basis of the relevant literature. The related research shows a mutual connection between these two concepts and points to the potential benefits of their successful integration. This paper is a framework overview of all the positive effects of knowledge management on business process management in the organization, which allows for better understanding and use of knowledge for more effective business process management.

The aim of this paper is to indicate the importance of economic cooperation for the development of regional economy of CEFTA countries and achieving better results using advantages of joint projects and access to third markets. As a free trade agreement, CEFTA has facilitated increased cooperation in the region, particularly among traditional partners that welcome the use of zero-rate customs. Ten years after signing the agreement, marked by constant improvement of trading terms between partners, CEFTA members have to find new ways to increase their trade in the conditions of economic stagnation and expand it with the EU countries. New synergies have to be achieved in order to raise trade above the current level. Also, every CEFTA member has to make an effort to resolve political conflicts and remove any nontariff barriers that could limit current cooperation. Finally, the importance of CEFTA is paramount for accession of each Western Balkan country to the EU.

The aim of this paper is to provide the current situation of mobile banking implementation in Serbia. M-banking has changed the traditional business model which users are practiced in the use of banking services in the traditional manner. Mobile banking has allowed an increase in the number of existing distribution channels that banks used to offer their services. Following the tendencies of development of new services, banks in Serbia are increasingly opting to offer their banking services via mobile phones. Based on the analysis conducted herein, we find that 70% of banks that are operating in the banking system offers its clients m-banking services. Services are offered with much lower commission than traditional banking, thus leading to the dramatic increase in m-banking users in the last three years. Mobile banking plays the central role in the future of banking development.

During the fi rst several years of an engagement, the quality of auditors’ services typically increases, which can be attributed to the so-called learning eff ect. With the further passage of time, however, an overly close relationship between the client and the auditor tends to develop, which results in a decrease in the auditor’s independence. Some commonly reported issues stemming from the resulting lack of independence are (IFAC, 2006): 1) self-interest threat, 2) self-review threat, 3) advocacy threat, 4) familiarity or trust threat) and 5) intimidation threat. Th e available studies confi rm the hypothesis that, aft er a certain number of periods of engagement1, the quality of auditing services starts to deteriorate (Brooks et al., 2015; Chi & Huang, 2005). Th e case of Enron Corporation (2001) played an important role in raising Th e awareness about this issue. As a result, a number of countries2 have introduced a mandatory periodic change of auditor (so-called rotation) since then3 (Ewelt-Knauer, Gold, & Pott, 2012). In addition to legal requirements, auditor switching is oft en initiated by clients. Some of the common reasons for changing auditing fi rms identifi ed in the existing literature