Attracting European Funds in the Romanian Economy and Leverage Points for Securing their Sustainable Management: A Critical Auditing Analysis

Valentin-Marian Antohi, Monica Laura Zlati, Romeo Victor Ionescu, Mihaela Neculita, Raluca Rusu and Aurelian Constantin
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Valentin-Marian Antohi: Department of Business Administration, Dunarea de Jos University, 800001 Galati, Romania
Monica Laura Zlati: Department of Accounting, Audit and Finance, Stefan cel Mare University, 720229 Suceava, Romania
Romeo Victor Ionescu: Department of Administrative Sciences and Regional Studies, Dunarea de Jos University, 800201 Galati, Romania
Mihaela Neculita: Department of Economics, Dunarea de Jos University, 800001 Galati, Romania
Raluca Rusu: Department of Economics, Dunarea de Jos University, 800001 Galati, Romania
Aurelian Constantin: Institute of National Economy, Romanian Academy, 050711 Bucharest, Romania

Sustainability, 2020, vol. 12, issue 13, 1-27

Abstract: Against the backdrop of Romania’s successive negative performance in attracting European funds (coming last in the EU top), as indicated by audit reports for projects that have been funded so far, this paper proposes a new approach in relation to analysis and performance improvement in securing EU funds, while identifying viable solutions for the betterment of the current situation. Furthermore, the authors develop a new audit performance analysis model (NOP), described as a dynamic and flexible model, based on reducing the fraud and error risk in the structural fund management of European-funded projects. The analysis methods encompass literature reviews, observational studies, database management, statistical analysis, and the synthesis of the whole findings. The main conclusion of the analysis is the critical necessity of integrity improvement in the context of managing the non-reimbursable funds through audit activities based on ISA805, the international standard on auditing European-funded projects.

Keywords: auditing; sustainable management; European structural funds; government performance; absorption; audit performance analysis model (NOP) (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:12:y:2020:i:13:p:5458-:d:381263

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