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In recent times, the concept of business ethics has been getting increasing importance in modern market economies as the result of the large number of detected unethical business activities. Accounting and auditing are the professions of extremely high ethical sensitivity. In order to be able to produce reliable, high-quality financial statements and to maintain both their professional and personal integrity, accountants and auditors have to resist the pressure put upon them by the market and by their clients. Ethical and professional conduct of accountants and auditors is significant for estimating their credibility and quality of their work. The subject of this paper is the need for constant improvement of competences and skills which accountants and auditors must have in order to satisfy increasingly challenging requirements of modern environment. With reference to that, the paper presents the concept of professional ethics, accounting and auditing professions as well as the Code of Ethics in Accounting and Auditing Professions.

In modern times, financial statements audit without application of information technologies is inconceivable. Many factors add to necessity of incorporating informational support into the auditing process, such as: a large number of client's transactions and a large volume of client's data to be audited; application of information technology in client's accounting data processing; availability of client's data in electronic form; emergence of an increasing number of auditing activities that need to be implemented within strict deadlines; dislocation of audit team members etc. This paper aims at observing the major specifics of integration of informational support into financial statements audit. The main method used in this paper for investigation of the impact of information technologies on auditing process is the existing literature analysis from several aspects: the role of audit in professional decision-making, methodology of financial statements audit and information technology types applied in audit. Our work shows that the emergence of information technologies helps auditors in the audit process.

In the process of European integration, cultural integration as a social process is gaining more and more importance. The subject of this paper refers to the role of culture in the European integration of Serbia. The paper will examine the approach that is focused on cultural integration towards the process of European integration, precisely because of the inevitability of the need to consider culture within the framework of international integration. The cultural diversity of European Union member countries and candidates for membership points to the fact that the most important problem of European integration is to find out how to deal with cultural differences. It is precisely these differences that make the European Union a unique organization in the world. It is precisely the respect for cultural diversity that makes the European Union open to new members - current candidates for membership. The aim of this paper is to point out the great importance and role of culture in European integration.

The Law on Digital Assets (here in after' the Law) entered into force at the end of 2020, but due to a six-month postponement its implementation started on 31.06.2021. In the meantime, the National Bank of Serbia and the Securities Commission (as the two main regulatory authorities established by the Law) have adopted 19 secondary legislation acts in the form of decisions and bylaws. With reference to that, the Ministry of Finance adopted amendments to the Law on Corporate Income Tax and Law on Individual Income Tax regarding taxation of digital assets transactions. In addition to regulation of the legal framework and taxation, this issue also requires regulation of the accounting method, i.e. recognition and measurement of digital assets - which is the topic of this paper.

Great ideas usually start out as rather simple ideas. In social sciences, the ideas which impact the lives of the millions and which direct policies must be available to all, not only to the elite. Only in this way can they properly permeate institutions from the global to the local level and become an integral part of human lives. The model of sustainable development challenges the conventional model of development. Namely, the conventional approaches simplify development by observing it as global modernization modeled after the example of industrialized, developed countries. Sustainability does not simply require balancing, i.e. compromising between inherently conflicting forces. It is rather a positive imperative which connects social, economic, and ecological benefits. Sustainable development advocates for the ethical position that the stock of natural resources must be preserved for the future generations and that the value of all social benefits and costs, including the depletion of natural resources, must be included in accounting systems for the development performances to be properly measured. This paper covers a wide gap between the theoretical interpretation of sustainable development and the current situation in the world. The paper presents some critical views which perceive sustainable development as an illusion, but also gives arguments which claim that sustainable development has no alternative.

The topic of this paper is introduction to the importance of the State Audit Institution, its role and competencies, organization, Code of Ethics and international cooperation. The State Audit Institution (SAI) is the supreme authority for auditing of public funds in the Republic of Serbia. It was founded in 2005pursuant to the Law on State Audit Institution. The State Audit Institution is an independent and autonomous state authority. For performance of activities within its competence, the State Audit Institution is accountable to the National Assembly of the Republic of Serbia. SAI performs the activities within its competence pursuant to the Constitution of the Republic of Serbia, Law on State Audit Institution and Rules of Procedure of the State Audit Institution which, in compliance with the Law, regulate more closely the audit procedure conducted by SAI, the manner of ensuring transparency in work, decision-making process and other issues established by the Law that are relevant for operations of SAI.

An unavoidable part of organizational life and management is teamwork. The goal of forming and using teams is to realize certain jobs and work tasks, to achieve or contribute to the achievement of certain results and thus the effective achievement of defined organizational goals. Only an effective team can contribute to the effectiveness of management. For these reasons, the subject of the paper is to consider the characteristics of the team and teamwork, the advantages and disadvantages of the use of teams and the effectiveness issue of the team itself. The aim of the paper is to point out the possibilities that the use of the team can provide, and also the obstacles it can bring, in order to recognize the ways of achieving and improving the effectiveness of the team.

The overall economic development of a national economy depends on the development of individual economic and noneconomic activities. Agriculture as an economic activity occupies a significant place in the overall development process of a country. The dependence of agriculture on natural conditions such as climate, geographical location, quality and other characteristics of the land, has the consequence that the contribution of agriculture to the overall economic development will not be the same depending on the above factors. The place and importance of agriculture in the overall economic development varies depending on the observation period because there are differences related to key development factors, as well as the place and importance of agriculture in the overall economic development. The participation of agriculture in the overall economic structure is especially important, although this certainly does not mean that countries with a higher share of agriculture in the economic structure reach higher levels of development. Countries with a large share of agriculture in the economic structure are usually underdeveloped or less developed, while in developed countries the share of agriculture in the economic structure is at a very low level. In a large number of countries, agriculture is still the main economic activity with which the largest number of inhabitants is engaged in proportion. The subject of this paper refers to the contribution to the development of agriculture from the aspect of its role and importance in the overall economic development.

Foreign direct investment is directly dependent on the economic and, therefore, the overall social progress in the world. The decrease or increase of foreign direct investment global flows result in a fall or increase in economic indicators that measure and reflect the economic trends and results of the global economy. Being one of the most important elements, if not the most important, in strengthening the world economy, the foreign direct investment plays a very important role in achievement the sustainable development goals that require investments into the basic infrastructure, energy, water supply, climate change alleviation, education, healthcare, as well as the production capacities in order to generate the new jobs and higher incomes. The aim of this study is to emphasise the significance of foreign direct investment flows, as well as to conduct a comparative analysis of sectoral distribution of these flows, since, depending on the sector, the foreign direct investments have different effects on the economic development of the host country.

The goal of this paper is to examine the existence of correlation between temperature and precipitation as independent variables and crop yield (wheat, corn) as dependent variable by applying Spearman's rank correlation coefficient. As the research field, region of Gruža is taken, more precisely county of Knić. Climate features of previously mentioned territory are obtained by monitoring the climate elements condition (temperature and precipitation) for the time period from 1991 to 2011 in weather stations Kragujevac, Kraljevo and Rudnik. Shifts in climate elements values are usually consequences of climate changes, which manifest in our country and shave significant impact to crop yield.

In modern business conditions due to dynamic changes in capital requirements, owners of capital and investors, a reliable and independent opinion on the financial statements of the companies that are their subject is required. In this regard, more and more attention is paid to the introduction of internal audit in everyday practice, its development and improvement. The question that arises here is whether and to what extent the development of internal audit in the Republic of Serbia has been achieved, whether this degree corresponds with the achieved degree of development of that profession in the countries of a developed market economy, and the role of internal audit in the function of governance. This question represents the basic theme of this paper.

The objective of this paper is to point out the significance of the natural lignite resources in the region of Kosovo and Metohija and to consider their influence on the environment of the said part of the territory of the Republic of Serbia. The region of Kosovo and Metohija is extremely rich in lignite. It makes up 76% of the total coal reserves in Serbia and it is the third biggest region in Europe regarding the coal reserves. Lignite is burned in the existing thermal power plants in Kosovo and Metohija, and the construction of the additional blocks is being planned at the moment. Lignite reserves are so immense that on one hand they enable the energy independence, but on the other hand the overall negative impact of reliance on lignite must be taken into account, especially since the existing thermal power plants operate according to the outdated environmental standards, producing large emissions of air pollutants (harmful gases resulting from lignite combustion in thermal power plants) that have negative impact on health. In order to reduce the environmental pollution that such thermal power plants create, operating of the said power plants needs to be adjusted to the stricter standards in compliance with the legal requirements and the Industrial Emissions Directive of the European Union.

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The term 'budget' has international significance for national income and expenditure plan and used by most countries in the world. Symbolizes the bag Minister of Finance by the same 'opening' during the presentation to parliament plan of government revenues and expenditures. The main sources of environmental financing in the Republic of Serbia, the State Budget and fee income. Elements of the system of financing environmental regulations are defined in different areas. To collect data on the financing of environmental protection at the national level the fundamental importance of the Agency for Environmental Protection. The environment must have a much higher priority than it currently has in Serbia. Environmental protection is one of the most important activities of the company, it impinges on all aspects of people's daily lives. The analysis of economic instruments in environmental protection is very important, because it shows how much this activity is effectively implemented at the state and local level.

The budget is the main lever of local self government policy. During the year all the payments should be made from the budget meeting the needs within the scope of their activities as well as collecting revenues from which will be settled those obligations. The term 'budget' is a word of English origin. It originated from the Latin word 'bulga' which means a leather bag. Over time, it transformed into the French word 'bugette' - a small bag and the English word 'budget' - which is the 'king's bag containing the money necessary for public expenditure'. The budget is a plan of revenues and expenditures which is set for a specific time period, usually a year. The success of environmental protection policy is largely determined by the degree of economic development of the local community. European integration of our country in the field of environment speeds up the reform process and makes progress in the conduct of public policy and the preservation of a healthy living space.

As agriculture is strategically important sector for economic development and growth, it is also important every mode of foreign participation in agriculture, including foreign direct investments (FDI). The aim of the paper is to consider whether there are opportunities and potentials for improvements in SEE countries' agriculture through FDI and in which segments. Therefore, the paper analyses agricultural characteristics within other macroeconomic characteristics of SEE countries' economies and also possible FDI impacts on agriculture aiming to determine if there are opportunities for improvements in SEE agriculture through FDI. Research results, presented in the paper, suggest that FDI has significant potential for support and improvement of SEE countries' agricultural performances. However, there is a need for higher level of FDI in order to use potential positive effect as well as recognition of these potential benefits from FDI inflow in agriculture by the governments and policy makers.

Budget as a systematic view (chart) Income and expenses of a State shall be issued for a specific planning period, usually for one budget year. It is a legal document issued by the highest legislative body in the state (parliament, assembly) in which for a year a detailed predict all public revenues and expenditures, and then displayed and distributed by a dedicated exactly and predetermined budget structure. The budget as a financial institution provides a smooth functioning of the state. In the past, today, and most likely in the near future, a major problem in the budget of the Republic of Serbia will be the emergence of a chronic budget deficit, which is the trigger both internal and external imbalances. The purpose and objective of that study is to determine the theoretical basis of the budget, as well as showing the structure of the revenue and expenditure side of the budget.

The role and significance of agricultural products have been changing over time, both in the world trade and in global flows of foreign direct investments. The subject of analysis in this paper will be exactly those two areas, agricultural trade and agriculture financing through foreign direct investments. Foreign direct investments can contribute to agricultural performance in different ways, bringing a number of benefits and potential positive impacts. Therefore, the paper will analyse the flows and volumes of foreign direct investments in agriculture indicating whether there is potential for these benefits to be used. The aim of the paper is to investigate the agricultural trade flows and agricultural foreign direct investment flows and volumes of foreign direct investments used for agriculture financing in order to determine whether and to what extent they contribute to agricultural performance.

The economic approach to the problem of tax evasion in national economies is based on the analysis of the individual behavior of taxpayers, or the analysis of the manner in which tax rates and tax instruments affect the application of economic policy of taxpayers. It is the natural tendency of taxpayers to pay the smallest possible amount of the tax liability, by finding loopholes and insufficient accuracy of regulations. They also tend to apply the tax laws under the most favorable conditions. It is the aim of taxpayers to pay the tax in the amount that is smaller than its real value, or not to pay it at all. Payment of tax causes reduction in economic power of taxpayers and deterioration of their economic status. By avoiding tax payment tax payers illegally reduce their tax liability. However, these actions reduce public funds that are formed by collecting taxes. The object of this paper is to influence the consciousness of taxpayers and to point out that the process of tax evasion usually leads to a redistribution of the tax burden in society in relation to the burden which was predicted by the legislator, because of the fact that the person who is supposed to be a taxpayer avoids to pay taxes. Tax evasion is a serious social problem, it destroys economic sphere of society and causes disturbance in the economic system.

Introduction: The Human Development Index (HDI), as one of the more complex composite indicators of the level of human potential and quality of life, is a combination of three dimensions (indicators, factors): life expectancy at birth, the middle number of years of education and the expected number of years of schooling combined into a single education index and economic benefits expressed by production, or GDP (gross domestic product) according to purchasing power (PPP US $)., Methods: The same measures and average achievements in the field of health, education, and living standards are presented. The HDI was first developed in 1990 under the United Nations Development Program (UNDP) and is published as Human Development Reports (HDR). At present, it has become the most widely used complex indicator suitable for international comparisons and assessments of the achieved development level of a particular country or region., Results: The paper deals specifically with the more perspective view of human development in the Western Balkans, with a series of socio-economic implications for the development policy of the countries under observation., Conclusion: The particular significance of the conducted research stems from the fact that in the countries of the Western Balkans are identified factors at the beginning of the transition period were often marginalized in the creation of macroeconomic policies, but in recent years there have been more positive developments in that regard., (© 2020 The Authors. Brain and Behavior published by Wiley Periodicals LLC.)