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Attracting European Funds in the Romanian Economy and Leverage Points for Securing their Sustainable Management: A Critical Auditing Analysis

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Department of Business Administration, Dunarea de Jos University, 800001 Galati, Romania
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Department of Accounting, Audit and Finance, Stefan cel Mare University, 720229 Suceava, Romania
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Department of Administrative Sciences and Regional Studies, Dunarea de Jos University, 800201 Galati, Romania
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Department of Economics, Dunarea de Jos University, 800001 Galati, Romania
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Institute of National Economy, Romanian Academy, 050711 Bucharest, Romania
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Department of Accounting and Finance, Valahia University, 130004 Targoviste, Romania
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Finance and Business Administration Department, Danubius Univesity, 800654 Galati, Romania
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Author to whom correspondence should be addressed.
Sustainability 2020, 12(13), 5458; https://doi.org/10.3390/su12135458
Received: 2 June 2020 / Revised: 30 June 2020 / Accepted: 1 July 2020 / Published: 7 July 2020
Against the backdrop of Romania’s successive negative performance in attracting European funds (coming last in the EU top), as indicated by audit reports for projects that have been funded so far, this paper proposes a new approach in relation to analysis and performance improvement in securing EU funds, while identifying viable solutions for the betterment of the current situation. Furthermore, the authors develop a new audit performance analysis model (NOP), described as a dynamic and flexible model, based on reducing the fraud and error risk in the structural fund management of European-funded projects. The analysis methods encompass literature reviews, observational studies, database management, statistical analysis, and the synthesis of the whole findings. The main conclusion of the analysis is the critical necessity of integrity improvement in the context of managing the non-reimbursable funds through audit activities based on ISA805, the international standard on auditing European-funded projects. View Full-Text
Keywords: auditing; sustainable management; European structural funds; government performance; absorption; audit performance analysis model (NOP) auditing; sustainable management; European structural funds; government performance; absorption; audit performance analysis model (NOP)
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Antohi, V.-M.; Zlati, M.L.; Ionescu, R.V.; Neculita, M.; Rusu, R.; Constantin, A. Attracting European Funds in the Romanian Economy and Leverage Points for Securing their Sustainable Management: A Critical Auditing Analysis. Sustainability 2020, 12, 5458.

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