institute of internal auditors in b&h - Udruženje internih revizora BiH

MSc. Bosko Ceko, The Audit of the public sector in the Republic of Srpska– Main Auditor
Prof. dr. sc. Mamic Sacer Ivana, Faculty of Economics, Zagreb
“Auditing general controls of information system”
"The role and importance of Supreme Audit Institutions of the public sector in BiH in controlling the
spending of public funds"
Danijela Stepić, Head of the Central Harmonisation Unit in the Ministry of Finance in Croatia
„ Challenges of the internal audit development in public sector“
The presentation will give overview of the most significant challenges that internal audit in the
public sector is facing. The special emphasis will be given on the acceptance of internal audit by
management structure and models of rational establishment of internal audit in the public
sector. These challenges are especially important in the candidate countries and potential
candidate countries for joining EU, since development of the internal audit is a part of the
negotiation process in Chapter 32 – Financial control.
Prof. Dr Fikret Hadzic and MSc Melisa Prolaz, Faculty of Economy in Sarajevo
“The role of regulatory authorities in the global financial crisis – new regulatory challenges and rec-
ommendations”
Price bubbles are the main reason for several financial crises. The counter-cyclical regulation should
limit the price bubble growth. The counter-cyclicality requires the increment of the required and
actual capital in good years when loan losses are below long run averages, creating capital buffers
which would be used in recession years for loss absorption. Other important research aspects are the
quantity and quality of the required capital, leverage ratio, liquidity regulation and maturity transfor-
mation and deposit insurance. In addition, the paper will try to give an answer to the regulation
boundaries and provide adequate recommendations.
Information system audit deal with review the quality of accounting and other non-accounting
information systems of some entity. In order to gather audit evidence of certain information
system, auditors test general (management) and application controls. General IT controls are
those controls that concern the general conditions of information system operation and the
environment of that system. The paper shows the main aspects of auditing general IT controls.
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