publication . Article . 2012

ROMANIA’S FACTS ABOUT INTERNAL CONTROL ENVIRONMENT OF EUROPEAN SOCIAL FUND FINANCED PROJECTS

Dogar Cristian; Dãnescu Tatiana;
Open Access German
  • Published: 01 Jul 2012 Journal: Annals of the University of Oradea: Economic Science (issn: 1222-569X, eissn: 1582-5450, Copyright policy)
  • Publisher: University of Oradea
Abstract
The malfunctioning of internal control system of European Social Fund (ESF) financed interventions may prejudice the sound financial management principle. Incorporating COSO principles in the beneficiary’s internal control systems may provide some warranties about compliance to the above mentioned principle as described in the EC Regulation 1605-2002. This study aims to explore some facts in actual internal control environment, as a base for future improvements of Romanian ESF beneficiary’s internal control systems ESF financed interventions covers a large range of costs for implementing labor market related services. But supporting costs according to the so...
Subjects
free text keywords: COSO, internal control, sound financial management, European Social Fund, projects., Business, HF5001-6182, Finance, HG1-9999

1. ***, 2002, Regulation (EC, EURATOM) No. 1605/2002 of 25 June 2002 on general budget of the European Communities,modified by EC Regulations 1995-2006 and 1525-2007, republished after modifications in the Official Journal of the European Union.

2. ***, 2010 Performance audit manual, the European Court of Accounts, www.eca.eu accessed on 07/07/2011

3. ***, 2005 Performance audit manual, the Romanian Court of Accounts www.curteadeconturi.ro accessed on 15/07/2011

4. COSO, Internal Control - Integrated Framework, December 2011 available on: www.coso.org at 20.03.2012

5. Arens A.A., Loebbecke J.K, Elder R.J. & Beasley M. S. (2006). Audit, an integrated approach. (8th ed.), Chișinău, ARC (pp911-924)

6. Dogar C., & Kelemen A. (2010) Use of econometric instruments in determining the financial resources needed for professional skills development projects, Analele Universității Oradea TOM IX July 2010 (pp272-278) [OpenAIRE]

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