Problems in audit and reporting in Bulgaria’s forestry

Daniela Georgieva and Diana Bankova

MPRA Paper from University Library of Munich, Germany

Abstract: An object of analysis in the paper is the quality of the information in the audit reports of forestry in Bulgaria, as a basis for attracting investments, increasing the confidence in the enterprises and achieving sustainability of the industry in macro level. The subject of analysis are the annual financial statements of public and private forestry for the period 2007 - 2017. A priority objective is to analyze the auditor's opinions on the annual financial statements of the Bulgarian forestry. An additional objective is to analyze the overall reporting of the financial-economic status and development of enterprises for the period 2007 - 2017. Main research tasks are: 1) to study the financial development and strategy of public and private forestry, as well as to compare it with the adopted and applied accounting policies; 2) to examine the audited opinions of the financial statements of the target group enterprises for 2017, as well as to analyze the quality of the audit performed and in this respect the reliability of the financial statements. The applied research methods are based on logical, deductive and comparative methods, as well as methods of analysis and synthesis. Main conclusions of the study are: violations of the control environment, lack of disclosed information in the financial statements of enterprises and the application of accounting policies irrelevant to the financial and economic status of organizations.

Keywords: forestry; audit; fraud; disclosures; crimes (search for similar items in EconPapers)
JEL-codes: M41 M42 M49 (search for similar items in EconPapers)
Date: 2020-04
New Economics Papers: this item is included in nep-acc and nep-tra
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Published in Proceedings of scientific papers, WoodEMA, i.a., University of Zagreb, Competence Centre (2020): pp. 31-36

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