Improving Accounting and Auditing of Financial Liabilities. Dissertation abstract for the degree of doctor in economies

Abstract

Actuality and importance of the research topic. In the context of globalization, management of financial liabilities has become an essential element for the sustainability and competitiveness of entities. Directives of the European Union (EU), International Financial Reporting Standards (IFRS/IAS) and International Standards on Auditing (ISA) impose increasingly stringent requirements regarding the recognition, measurement, and reporting of financial liabilities, taking into account their impact on the decision-making process. In the context of the Republic of Moldova (RM) obtaining the status of EU candidate country, the harmonization of accounting and auditing with European and international regulations is an important process for increasing financial transparency and facilitating entities' access to external capital markets. The evolution of the financial market has led to the diversification of the forms of financing used by entities, from traditional bank loans to alternative instruments such as financial leasing and corporate bonds. At the same time, foreign exchange rate differences and borrowing costs make it difficult to apply uniform accounting treatment, which can affect the comparability of financial statements and the predictability of associated financial risks. An increasingly discussed issue at international level is the use of transfer pricing and loans between affiliated parties for tax optimization, which can lead to the manipulation of financial indicators and a reduction in the tax base. In this context, research into financial liabilities accounting and auditing issues is relevant from a theoretical perspective, through the development of improved conceptual models. The practical perspective is also highly relevant, through the formulation of recommendations to optimize the reporting and auditing of financial liabilities. Thus, this study contributes to clarifying and improving the accounting treatments and audit methodologies applied to financial liabilities, having a significant impact on the transparency, relevance, and comparability of financial information.