Atanasovski, Atanasko

Preferred name

Official Name

Atanasovski, Atanasko

Main Affiliation

atanasko@eccf.ukim.edu.mk

Now showing 1 - 10 of 21

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What story do the transparency reports on the market for audit services tell? - The case of the Republic of Macedonia?
(University of St.Gallen, 2018-11)
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The obligation for presentation of transparency reports by audit firms in the Republic of Macedonia was introduced for the first time with the amendments of the Audit Law in 2005. The intention was to demystify the operations of the audit companies. The first transparency reports were published in 2007. The compulsory elements of the transparency reports fully correspond with the requirements of the Eighth EU Directive. After ten years from the publication of the first transparency reports, a dilemma arises about what perception of audit quality of audit firms they create with readers. The paper consists of four segments. The first gives an overview of the literature and past research related to the transparency reports. The second segment focuses on the genesis of transparency reports observed through changes in the legislation. The third part analyzes the data from different segments of the transparency reports for all audit firms, with a special focus on the number of customers and the realized revenues from the offered services for the period of 2007-2017. The analysis should show the relationship between the number of clients and the revenues received by the audit firms grouped into three groups - "Big Four", Audit firms which are part of international network that does not belong to the "Big Four" and Local audit firms. In the last part the knowledge gained is summarized and the question initiated in the title of the paper about the readers’ perception created by the transparency reports on the audit firms activities is answered.
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Intellectual capital: A key driver of financial performance in the Macedonian banking industry
(Bucharest University of Economic Studies, 2024-03-30)
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<jats:p>Research Question: How does intellectual capital, measured by the Value Added Intellectual Coefficient (VAIC) and its components, influence the financial performance of banks in North Macedonia? Motivation: In the evolving landscape of the banking sector, understanding the impact of intellectual capital on financial performance is crucial. This study builds upon existing research (Appuhami, 2007; Ozkan et al., 2017; Joshi et al., 2013) to explore this relationship in the specific context of North Macedonia. It addresses the research gap by using the VAIC model to quantify intellectual capital and examines its effect on Return on Assets (ROA) and Return on Equity (ROE). Idea: The research employs linear regression models to analyze the effect of intellectual capital, as measured by VAIC and its components, on the financial performance indicators ROA and ROE in Macedonian banks. Data: The study analyzes a decade of data (2012-2021) from ten Macedonian banks, using the VAIC model to measure intellectual capital. Tools: The study utilizes linear regression analyses with the Statistical Package for the Social Sciences (SPSS) to examine the relationship between intellectual capital and financial performance. Findings: The study finds a significant and positive impact of VAIC and its components on both ROA and ROE. These results underscore the importance of intellectual capital in enhancing financial performance in the banking sector. Notably, the study reveals a high average VAIC value among Macedonian banks, indicating their substantial intellectual capability. Contribution: This research adds to the literature by elucidating the relationship between intellectual capital, measured through VAIC, and financial performance in the banking sector of North Macedonia.</jats:p>
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Accounting Students’ and Employers’ Perceptions on Employability Skills in the SEE Country
(University of Economics, Prague, 2018)
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Accounting education at the university level in developing SEE countries has often been criticised for the inability to develop essential skills of graduates necessary for a career in professional accountancy in the 21st century. Our research study presents the results of a survey among students enrolled to an accounting degree program and employers for their perceived importance of a wide range of generic and technical skills for successful entrance to the profession. The study also investigated perceived effectiveness of the university accounting education to develop important skills at an appropriate level. The results indicated agreement between the two respondent groups in respect of the greater importance of generic skills, where students gave more weight to personal skills of time management, good presentation and characteristics of self-confidence, motivation and self-promotion. Employers valued more oral communication, knowledge of foreign languages, ethical attitude and credibility and commitment to life-long learning. The employers and students agreed that education process and program need improvements in order to allow for better development of technical and generic skills among successful graduates.
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The professional scepticism of internal auditors in context of fraud identification – research in the Republic of Macedonia
(2017-05)
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In terms of global financial crises and financial scandals of big corporations worldwide, the public awareness of the responsibility of audis in detecting and preventing fraud is increasing. The interest focuses on the important role of professional skepticism and its proper application when auditing financial statements. Occuring concerns over insufficient and inadequate application of professional skepticism in audits led to development of many debates about the role of professional skepticism and suggestions on how to improve its application in the audit practice. Despite the importance of professional skepticism, in audit literature there is no consensus and empirical data for measuring the skepticism and how it affects the behavior of auditors.This paper makes an effort to define, conceptualize and measure professional skepticism. It also identifies threats to the concept and potential opportunities, ie, measures and activities to promote the application of professional skepticism throughout the audit of financial statements, in order to improve audit quality. In order to answer the question whether the possession of a certain individual level of skepticism among auditors affects their behavior towards fraud indicators during audit engagements, an experimental research, in which students and internal auditors in the Republic of Macedonia were taken as target groups, is conducted.
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Public Sector Accounting, Auditing and Control in the Former Yugoslav Republic of Macedonia
(Palgrave Macmillan, Cham, 2019)
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‘Public sector accounting, auditing and control in the Former Yugoslav Republic of Macedonia’ by Atanasko Atanasovski and Zoran Minovski offers a concise and comprehensive overview of the organisation of the country and its territorial structure, as well as concise insights on the formulation and execution of central government and local and regional self-government budgets, with the focus on accounting and financial reporting and audit and other oversight (supervision) up-to-date description. The chapter concludes with the notion of challenges and future development paths in public sector accounting and auditing in Former Yugoslav Republic of Macedonia as the candidate country in the accession to the EU, with a clear emphasis on the process of transition accrual-based accounting and the implementation of IPSAS for the purpose of financial reporting by the general public sector, and State Audit Office capacity building.
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The different dioptrIA of internal auditors versus external auditors in the observation of internal controls - research in the Republic of North Macedonia
(29th EBES Conference - Lisbon, 2019-10)
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Opportunity represents an extremely important element of the fraud triangle. It is usually related to the internal controls which if not designed well or not functioning efficiently make it possible for a motivated fraudster to achieve his fraudulent scheme. The corporate scandals that marked the end of the previous and the beginning of this century were initiated and realized by unscrupulous managers taking advantage of the existence of internal controls weaknesses. Observing the internal control weaknesses as an opportunity for fraud has increased their significance in the eyes of stakeholders, such as managers, internal and external auditors. Internal control is in fact a subject to examinations and assessments performed by the both - internal and external auditors. The internal auditors being part of the organization should, on one hand, objectively assess the decisions taken by the management, and on the other hand, act advisory in designing an adequate and efficient internal control system. Hence the double identity of the internal auditors, i.e. two social categories of the internal auditors. As per the external auditors, it is exactly that double identity that jeopardizes the objectivity of internal auditors. Considering the fact that the internal auditors are part of the organization, whereas the external auditors act as outsiders, it is expected that their perceptions of the internal control system would differ. The Social Identity Theory stipulates that the internal auditors being part of the organization have an advantage over external auditors in obtaining information about the weaknesses of the internal control system and this advantage increases as the material significance of the weakness increases, as per the Organizational Silence Theory. However, the Social Identity Theory also states that the more the auditors identifies with the organization, their objectivity in assessing the internal control system decreases. In this regards, the adherence to the Code of Ethics for the Internal Auditors positively affects the objectivity of internal auditors in assessing the internal control system, and as their objectivity increases, the confidence of external auditors in the work of internal auditors also increases. Within this paper, will be presented a research which aims to determine and quantify the differences between internal and external auditors in obtaining and assessing information on the weaknesses of the internal control system. The research is consisted of two parts. In first part are discussed the differences in obtaining information about the weaknesses of the internal control system between the internal and external auditors, while in the second part, the differences in assessing the received information on the weaknesses of the internal control system. At the end of the paper, using the SPSS data processing program will be presented the results of the conducted research, i.e. on the basis of the obtained results, it will be determined whether there are significant differences between the internal and external auditors in obtaining and assessing information on the weaknesses of the internal control system.
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Evaluating the Performance of ChatGPT in Accounting and Auditing Exams: An Experimental Study in North Macedonia
(Faculty of Economics-Skopje, Ss. Cyril and Methodius University in Skopje, 2023-12-15)
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Tocev, Todor
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In the ever-evolving landscape of education, the integration of artificial intelligence (AI) has emerged as a transformative force, reshaping conventional pedagogical methods and assessment approaches. The domains of accounting and auditing, integral for preparing future professionals, have not remained immune to this technological revolution. As AI, including ChatGPT, gains prominence, it offers the potential to enhance learning and examination experiences within these disciplines. This paper presents a pioneering North Macedonian experimental research evaluating the performance of ChatGPT's effectiveness in exam performance in accounting and auditing. Leveraging 11 subject exams comprising a total of 401 questions, this research assesses ChatGPT's proficiency in addressing intricate, context-specific questions within these domains. ChatGPT 3.5 demonstrated its reliability as a "student" by successfully passing 8 out of the 11 subjects, achieving a pass rate of 73%. The findings reveal that ChatGPT 3.5 excels in responding to qualitative open-ended questions, true/false assessments, and multiple-choice questions with a single correct answer, effectively streamlining routine tasks and offering comprehensive explanations. However, it faces challenges when dealing with quantitative calculations and complex multiple-choice questions with multiple correct answers. This study contributes to the ongoing discourse on AI's role in education, sparking discussions about student access to AI tools, the balance between memorization and referencing, the potential for AI to enhance learning experiences, and the unique contributions of educators that surpass AI capabilities. As AI continues to disrupt traditional practices across professions, including education, its responsible integration promises to enhance the educational process and deliver substantial value. ChatGPT, as a versatile AI language model, stands as a powerful tool in this endeavor, offering educators and students the potential to enrich their learning journeys while recognizing the need for judicious application within its defined constraints.
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CONCEPTUAL FRAMEWORK FOR UNDERSTANDING EMERGING TECHNOLOGIES THAT SHAPE THE ACCOUNTING AND ASSURANCE PROFESSION OF THE FUTURE
(Faculty of Economics-Skopje, SS. Cyril and Methodius University in Skopje, 2020-11-14)
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We are currently on the verge of the fourth industrial revolution (industry 4.0) that will fundamentally change the way in which businesses and individuals operate. It is characterized by the integration of both physical and virtual world with a new pulse for greater automation and autonomy of business processes without or limited need of human intervention. Cloud computing, the internet of things, big data and data analytics, artificial intelligence and machine learning, blockchain, augmented reality are among the most exploited contributing technologies. This paper provides a conceptual framework for emerging technologies with greatest disruptive potential for the accounting and assurance profession. We have surveyed the scarce literature with the aim of investigating the relationship and interplay between most potent emerging technologies and accounting and assurance services. Our findings suggest that cloud accounting, big data, blockchain, artificial intelligence and machine learning will most likely shape the accounting and assurance world for many organisations and future skills set pursued by professionals in order to add value. We conclude that current accounting research efforts are insufficient to understand and grasp the possible future interactions between the vibrant digital economy, its emerging technologies and the accounting profession, including the changing information needs of investors.
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The Blockchain Technology and Its Limitations for True Disruptiveness of Accounting and Assurance
(ASERS Publishing, 2020-12-30)
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Blockchain is distributed ledger technology praised by many tech savvy executives to disrupt and change many businesses in the future, including the accounting and assurance profession. This study critically assesses the disruptive potential of the technology for modern accounting information systems and accounting professionals. It summarizes limitations and constraints of the technology through qualitative research of academic literature, professional documents and tech websites. The study discusses scalability, transaction costs, interoperability and confidentiality issues as most significant constraints for accelerated adoption and deployment of blockchain based accounting information systems. The economic case of blockchain based accounting information system, real cases of practical implementation and appropriate governance structures are suggested as important areas for future research efforts.
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Non-financial Reporting Analysis: Does EU Membership Affect the Disclosure of Non-financial Information in BlueChip Companies?
(Lex Localis, 2023-02)
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Tocev, Todor
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Non-financial reporting, as a relatively new concept, has been intensively developed in the last few decades, primarily voluntarily, as a need to provide stakeholders with an insight into business-related issues that are of broader social importance. It is becoming necessary and increasingly important for all participants in today's socio-economic environment. This paper presents qualitative and quantitative research on the disclosure of non-financial information on social responsibility in 40 listed companies from selected Balkan countries for the period from 2019 to 2021, to determine whether and how EU membership affects the scope of non-financial reporting. The results of the conducted statistical tests indicate that companies from EU countries disclose in more detail and for more segments compared to companies from non-EU countries. The transposition of the directive into law, i.e. mandatory non-financial reporting is one of the key factors for the disclosure of companies' ESG activities.

Atanasovski, Atanasko

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