Acta Universitatis Danubius. Œconomica

Increasing the Quality of Financial Audit Engagements by Implementing Quality Management Standards

Janina Soare — 2025-02-28

The main goal of this research is to identify solutions for the implementation of the new legislative provisions within audit companies in order to accelerate the process of improving the quality of the audit and implicitly the audited accounting information. The performed evaluations show that the national audit companies have not developed sufficient and adequate financial audit quality control procedures, they have to go through an updating process, following the new vision of the International Auditing and Assurance Standards Board (IAASB) The method of implementing procedures for the transition from quality control to quality management of financial audit engagements is analysed based on the example of an audit company. The main methods employed are: in-depth analyzes of specialized literature containing national and international scientific papers and studies in the field of financial audit, found in national and international publications as well as cross-sectional and longitudinal analysis methods. The conclusion of the study is that a financial audit quality management system is not yet implemented, the current internal regulations are still associated with quality control and not quality management and the audit companies in our country can quickly adapt their procedures for the transition from quality control to quality management of financial audit engagements.

Regulation of Artificial Intelligence: A Systematic Literature Review

Lilian Gumbo — 2025-02-28

Objectives: This study aims to examine the different approaches used to regulate artificial intelligence through a systematic and bibliometric analysis of the literature.

Prior Work: Governments and industry concur that there is an urgent need for artificial intelligence (AI) regulation. The European Union, the United States of America and China have already pioneered in the regulation of AI with different regulatory approaches. However, there remains no clearly defined method of how AI can be regulated comprehensively.

Approach: A total of 38 articles published between 2019-2024 extracted from the Scopus and Clarivate Web of Science databases were selected for analysis following the PRISMA protocol. The review combined bibliometric and systematic review.

Results: The study established risk-based, management-based, rights-based, systemic market safety, tort liability, single unified law and ethics as major approaches used to regulate AI. Economic and political concerns remains barriers to effective regulation as governments and jurisdictions aim to become centers of innovation.

Implications: A universal and unified regulation of AI which extends from ethical standards enforced by professional bodies to actual enforceable law is required to avoid law lacunas.

Value: Major AI regulatory approaches were examined, and trends and gaps in the regulation of AI literature were identified.

Information System for Macroprudential Policies

Florentina-Loredana Dragomir-Constantin — 2025-02-28

A macroprudential system is crucial for national security as it ensures financial stability and prevents crises that could negatively impact both the economy and state security. By identifying and managing systemic risks, it protects critical institutions from economic shocks and prevents the spread of financial instability. Strengthening resilience against external threats, including cyberattacks and geopolitical fluctuations, ensures the continuity of financial infrastructures essential for economic stability. Macroprudential policies, implemented through regulatory frameworks, help limit speculative behavior, reduce contagion effects, and support sustainable growth. In Romania, the National Bank and the National Committee for Macroprudential Supervision play a key role in monitoring risks and maintaining financial stability. A stable financial system protects national resources, prevents recessions, and guarantees access to funding for both the government and the private sector. Economic risks such as cyber threats, financial market manipulation, and excessive sovereign debt pose significant challenges to national security. The 2008 crisis demonstrated the global consequences of financial instability. Effective macroprudential policies, including capital regulations and financial stress tests, help prevent crises and reduce their economic and security impact. In an era of economic volatility, implementing robust macroprudential policies is essential to safeguarding financial sovereignty and national security.

Investigating the Influence of Human Resource Management Practices on the Performance of Tertiary Institutions in South-western Nigeria

Odumeru James — 2025-02-28

TIs have the potential of playing significant role in the socio-economic development of any society. The same is true of Nigeria. Sadly, performance of Tertiary institution (TIs) in Nigeria has been on a downward spiral in recent years. Additionally, the study of the relationship and transmission mechanism between Human Resource Management (HRM) practices and performance of TIs in Nigeria is sparse in literature. This study investigated the role of HRM practices on the performance of TIs in South-western Nigeria, and the mediating impact of employee commitment and job satisfaction in the relationship. To meet these objectives, cross-sectional survey research design was adopted. Data measuring key dimensions of HRM practices (Recruitment and selection, training and development, performance appraisal, and compensation management) performance of TIs (perceived quality of tertiary education and perceived relevance of TIs), job satisfaction and employee commitment was collected from 390 academic staff members, which were selected a population of 9,817 academic staff members of selected public and private owned polytechnics in South-western Nigeria via stratified and purposive sampling technique. Sample size was determined using the Taro Yamane formula at 5% level of significance. Analyses was carried out using Partial Least Square Structural Equation Modelling. Results shows that all 4 dimensions of HRM practices have pat coefficients of greater that ±0.1 at p < 0.05 indicating dimensions of HRM practices determine both perceived quality and perceived relevance of tertiary education in South-western Nigeria. Also, it was discovered employee commitment and job satisfaction do not significantly mediate the HRM practices -TI performance relationship with path coefficients ranging from -0.1 to +0.1 at p < 0.05. The coefficient of determination at 0.3 and above further strengthens the conclusion that the relationships are significant. This investigation therefore concluded that there exists a direct relationship between HRM practices and performance of TIs. Based on this outcome, it was recommended that owners and policy makers of TIs should pay attention to all dimensions of HRM practices in order to optimize the performance of their various institutions.

Considerations Regarding the Use of Artificial Intelligence in Financial Management and Accounting in State Pre-University Educational Institutions

Mihaela Panait (Ion) — 2025-03-07

In an era where technology is becoming increasingly omnipresent and essential for decision-making and management processes, public pre-university educational institutions face complex challenges in resource management, performance monitoring, and risk management. In this context, the interest in utilizing Artificial Intelligence (AI) technologies to enhance financial management and accounting in these institutions has surged in recent years. This interest is fueled by the rapid advancement of AI technology and the growing need for innovative solutions to address these challenges. AI offers remarkable possibilities for automating processes, analyzing data, and making decisions, facilitating a more efficient and dynamic approach to resource and risk management in these institutions. This study begins with a detailed analysis of the current context and specific needs within the educational sector, contributing by proposing advanced technological solutions and identifying practical recommendations aimed at improving financial management and refining accounting practices in pre-university educational institutions.

Human Rights Provisions in Constitutions: Economic Opportunities and Challenges

Junaid Butt — 2025-03-13

United Nations Human rights provisions in national constitutions have become increasingly significant in shaping economic opportunities and addressing challenges in contemporary societies (UNHR 1948). This study investigates the interplay between constitutional human rights and economic policies, focusing on how legal guarantees of economic and social rights, such as the right to work, property, and social welfare, impact economic growth, inequality, and poverty reduction. The research employs a comparative approach, analyzing constitutional frameworks across different countries to assess their effectiveness in promoting economic empowerment, stability, and inclusive growth. Using both qualitative and quantitative methods, the study evaluates the economic outcomes of these provisions and examines the challenges they present, including the tension between economic freedoms and social justice. The results suggest that while constitutional protections of human rights contribute to economic opportunities, they also create economic trade-offs, particularly in balancing market efficiency with social welfare needs. The study concludes that constitutional human rights provisions play a vital role in fostering inclusive economies but require careful calibration to ensure they effectively address economic disparities without hindering growth. This research highlights the importance of constitutional design in shaping national economic policies and offers valuable insights into how legal frameworks can be optimized to achieve both human rights and economic development goals.

The Influence of Sports Celebrities’ Brand Personality on Celebrity Identification and Consumers’ Intention to Buy the Endorsed Brands

Nkosinamandla Shezi — 2025-02-28

Celebrity endorsement is becoming very popular, especially in sports. The purpose of this study was to determine the influence of sport celebrities’ brand personality on sport celebrity identification and consumers’ intentions to buy the endorsed brands. A descriptive research design and quantitative method were employed in the study. The participants of the study were drawn from Generation Y consumers in South Africa. The results of the study show that the attributes of “sophistication”, “sincerity” and “classic” positively influence sport celebrity identification. Furthermore, the results indicate that sport celebrity identification positively influences purchase intentions of the endorsed brands. It was found that “sophistication” is the most important factor that influences sport celebrity identification, followed by the attributes of “classic” and “sincerity”. The study offers recommendations for the brand personality of a sport celebrity and suggests ways to influence sport celebrity identification and purchase intentions with regard to endorsed brands.

The Regulatory Framework and Policies for Advancing Green Logistics in Republic of Moldova’s Agri-Food Sector

Veronica Bulat — 2025-02-28

This study examines how green logistics strategies and decision-making models can enhance the efficiency of the agri-food supply chain in the Republic of Moldova. It identifies major challenges, including high logistical costs, environmental impact, and limited market access, while highlighting the role of European policies and digital technologies in promoting sustainability. To address these issues, the research employs a structured decision-making approach, focusing on supplier selection and strategic business choices. A multi-method framework is utilized, integrating quantitative analysis, decision modelling, and policy assessment. The Global Utility Method (GUM) is applied to evaluate suppliers based on key criteria, ensuring an objective and systematic selection process. The findings indicate that incorporating structured decision-making enhances logistical efficiency, cost management, and sustainability in the agri-food sector. Furthermore, the study underscores the importance of digital transformation, environmentally responsible logistics, and data-driven procurement decisions in achieving long-term industry growth. By demonstrating the benefits of green logistics and analytical decision-making models, the research highlights their critical role in ensuring sustainable development, supply chain resilience, and economic competitiveness within Moldova’s agri-food industry.