FINANCIAL REPORTING AND AUDITING REFORMS AND THEIR IMPACT IN THE BUSINESS CLIMATE IN ALBANIA
Journal Title: Metropolitan Tirana Journal of Business and Economics - Year 2018, Vol 2, Issue 1
Abstract
The path toward a sustainable economic growth highlights the deep problems that require intervention and reforms to improve the business climate. Due to the current events in the country and the region, governments are characterized by high debt, the decline in revenue efficiency and rising unemployment. Under these conditions, the attention is toward the private businesses and the private sector in general, as the main driver of economic growth. This situation makes more evident some structural weaknesses; that require an adoption of new accounting laws by ministers and senior officials, as part of their efforts for sustainable growth of the economy and EU integration of Albania. The education system should strengthen, and there is a need to increase the capacity of the accountancy profession. An improved financial reporting helps reduce barriers to business investment, especially for small and medium enterprises, with an ultimate goal of increasing the competitiveness and economic growth. In this article there are taken in consideration further measurements that might be needed to create public oversight systems to the control of quality, necessary to ensure the practical application of accounting rules and reliably. We will take a look at the above mentioned problems, in order to give as a conclusion any modest assistance in the broad issues of our economic reality.
Authors and Affiliations
Evis Kumi, Eralda Shore, Emira Spahaj
Keywords
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