The Role of Auditors Against Money Laundering- Albania Case

Nertila Cika, Sotiraq Dhamo and Igli Tola
Additional contact information
Nertila Cika: Faculty of Economy, University of Tirana, Albania

European Journal of Economics and Business Studies Articles, 2018, vol. 4

Abstract: In the process of the globalization of the economy one of the biggest challenges is combating and preventing criminal activities such as the money laundering. This phenomenon affects the failure of many sectors, such as monetary and banking system, the loss of public confidence in the financial system, the problem in calculating GDP in the affected countries. Albania has been considered a 'paradise' for investing and money laundering from suspicious or illegal activities, for more than 20 years. To prevent Money Laundering is necessary to make proper legislation and the involvement of several parties, including also the accounting professionals. The purpose of this paper is to estimate the role and function performed by Albanian Chartered Auditors (CAA -EKR) and auditors of State High Control Institution against Money Laundering. We try to give answer to the main research questions as: Are the Albanian auditors involved in fighting Money Laundering? Which is the level of legislation of Albania regulated against Money Laundering? What is the role of professional body of the auditors in preventing Money Laundering? The conclusions of this paper are based on literature review and data analysis through the independent test, Chi-Square test, gathered from questionnaires designed and intended for Albanian auditors to understand practically how they face this phenomenon in Albania. We find out a negligence of the auditors in reporting ML.Typically the construction companies with Albanian capital are involved in the money laundry transactions and further research studies are recommended to be made.

Keywords: money laundering; auditors; accounting professionals; procedure; financial statements (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://brucol.be/index.php/ejes/article/view/5411 (text/html)
https://brucol.be/files/articles/ejes_v4_i1_18/Cika.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eur:ejesjr:188

DOI: 10.26417/ejes.v10i1.p17-29

Access Statistics for this article

More articles in European Journal of Economics and Business Studies Articles from Revistia Research and Publishing
Bibliographic data for series maintained by Revistia Research and Publishing ().