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The article deals with the main directions of harmonization of Ukrainian tax legislation in accordance with the EU standards, key measures to optimize the taxation system of Ukraine in accordance with European norms. Considerable attention is paid to the harmonization of Ukraine's tax policy with the approaches used in the EU. The article identifies the main principles and objectives of the EU tax policy, analyses the priority areas for improving the Ukrainian tax system in the context of its adaptation to European standards. The author emphasizes that direct taxation in the EU is based on harmonization of standards for taxation of individuals and legal entities, especially in the context of preventing tax evasion and resolving the issue of double taxation. Ukraine has already implemented some European and international standards, which helps to stabilize the basic principles of taxation, create a coherent tax base and improve the mechanisms of tax assessment and collection. The author comes to the conclusion that at the present stage the main difficulties of the Ukrainian tax system include: predominance of the fiscal function of taxes over the regulatory function; numerous regulations from other areas of law which partially regulate tax relations; insufficient level of legal guarantees for all participants of tax relations. Considerable attention is paid to the analysis of international experience in the field of indirect taxation, which demonstrates the effectiveness of accumulating tax revenues for economic development, supporting low-income groups of the population, stimulating scientific and technological progress and increasing the country's labor potential. The article suggests ways to overcome the challenges in harmonizing the tax legislation of Ukraine and the EU. Integration into the EU is a priority of Ukraine's foreign policy, and harmonization of legislation is an important step in this process. Improving the efficiency of the tax system contributes not only to the financial stability of the state, but also to the intensification of business activity. [ABSTRACT FROM AUTHOR]

The lack of empirical evidence on key drivers of financial illiteracy among financial managers within non-governmental organisations (NGOs) sector can be the trigger of the current rate of NGOs collapsing in South Africa. Using a quantitative research strategy, this study investigated the role of financial literacy in improving the level of financial knowledge, financial skills and financial responsibility among 53 NGOs finance staff who were purposively and conveniently sampled. The respondents comprise financial managers, accountants, and senior managers and project managers. Data generated were analysed using descriptive and inferential statistics. The results of the study revealed that all the independent variables of the study correlated between .247 and .569. The findings of the study revealed that the ability to prepare a strategic business plan and the respondents’ capability to cope with their organisations’ financial shortfalls have a positive and significant relationship with their level of financial literacy. The study further found that (1) dealing with financial diversification (2) comparing their organisations’ financial performance against the financial objectives (3) writing financial objectives and (4) their ability to raise funds from different funders for their organisations have a positive and significant influence with their financial literacy. This article is the first to explore the financial literacy status among NGOs financial managers in KwaZulu-Natal (KZN). Relying on these empirical findings for the financial literacy variables. This study will fill a gap in understanding the variables identified that drive the financial literacy of NGOs financial managers. These findings will help NGOs financial managers to choose the financial literacy practices model to improve their financial knowledge, skills and responsibilities and eventually enhance the financial viability and sustainability of their entities. This study contributes to the current body of knowledge and further offer insight into constructs for measures of financial literacy among NGOs context.

The application of sanctions is a certain summary of the perception that a person has committed an offense. But before the direct application of sanctions, it is necessary to form a vision regarding the type of responsibility. That is, the construction of financial responsibility can be used, but as a certain generic model that unites institutional or sub-sectoral varieties of responsibility. At the same time, characterizing the tax liability consistently in the assessment of its nature and consequences, distinguish not one of the stages of the tax liability (payment of taxes and fees), but the whole construction of the tax liability (accounting-payment-reporting). A systematic view of the construction of tax liability involves both an assessment of the behavior of obligated persons (payers of taxes and fees, etc.) and subjects of authority. The complexity of social relations, which express the peculiarities of foreign economic activity, determines the clear demarcation of these relations into certain sectors, the basis of whose regulation are precisely the branch characteristics of the subject and the method of the corresponding grouping of legal norms. It is necessary to distinguish between sanctions that are applied as a result of financial responsibility and sanctions that have a monetary nature but are regulated by other branches. Fines and interest are tools that are used in both private and public law. This involves, depending on the purpose, the subject of regulation and the application of not just public-law or private-law methods, but the tools of the relevant industry or sub-industry (economic law, customs law, money circulation, tax law). In this sense, we would like to distinguish between the occurrence of adverse consequences for payers and the application of sanctions to them. The use of a penalty refers to the regimes of adverse consequences. But, it is unlikely that there is a reason to equate penalties and sanctions (fines). The basis for applying a sanction (fine) is illegal behavior, commission of an offense. The basis for the application of a penalty is the untimely or incomplete fulfillment of the tax obligation. The determination of the penalty in the analysis of such issues must be connected with the relevant powers of the supervisory body. That is, forming the competence of the subject of power, the controlling body, the state delegates to it not only the right to implement certain measures, but also the imperative duty to implement such a right. [ABSTRACT FROM AUTHOR]

The subject of the study is public relations in the field of financial and legal responsibility in Ukraine. Methodology. The methodological basis of the study is the methods of induction and deduction, the dialectical-materialistic method, the method of analysis and synthesis, and the historical method, which allowed for an objective understanding of the content and essence of the issues under study. The aim of the article is to analyse the theoretical aspects of the features of financial and legal liability in Ukraine in order to propose effective ways to improve the mechanism of these procedures. The results of the study have shown that the independence of financial responsibility in Ukraine is emphasised by the relevant criteria, which include the obligation of a person guilty of committing a financial offence to undergo measures of state coercion provided for by the sanctions of financial legislation. Conclusion. Financial responsibility in Ukraine is a legal relationship with a special procedural form of implementation. Financial and legal responsibility is an independent measure of financial sovereignty of the state, has its own legal nature and occupies a certain place in financial legal relations. At the same time, it should be said that liability for violation of financial legislation does not exist only within the framework of financial legislation. Financial responsibility is undoubtedly a type of legal responsibility and is primarily due to the special sphere of sectoral activity of the state and its authorised bodies, which today is considered to be the financial activity of the state, where not all subjects of law are involved, but only subjects of financial law and their financial obligations, which differ only in their ownership, price and public character. Another peculiarity is that, as a rule, financial and legal liability is by its nature restorative, aimed at eliminating negative and other undesirable consequences caused to the financial system of the state. This feature of financial and legal liability reflects the public nature of financial obligations, the fulfilment of which is ensured by the application of financial liability. Some peculiarities that distinguish financial liability in Ukraine are caused by the nature of financial offences that are the basis for financial liability and distinguish financial liability from other types of liability applied both in connection with administrative and disciplinary offences and in connection with criminalised financial crimes and civil offences, the subjects of which are usually independent individual subjects of financial activity, individuals, and companies.

This study utilizes an Islamic paradigm with an Islamic ethnomethodology approach to investigate mosque accounting practices. The study uses both primary data, obtained through interviews and observations, and secondary data, which consists of documentation of mosque financial information records in books and on information boards. The data is analyzed through five stages: charity, knowledge, faith, revelation information, and good deeds, and collected through interviews, observation, and documentation. The study results show that mosque accounting practices are based on three main values: sincerity, responsibility, and trustworthiness. First, capital and cost accounting are practiced based on sincerity, which is reflected through the voluntary donations of funds by donors for the prosperity of the masjid, and the optimal work of administrators who do not receive a salary. Second, a simple accounting recording method is used, requiring a sense of responsibility, which is reflected through detailed financial records in album booklets and on bulletin boards. Third, accountability for incoming and outgoing funds is conditional on maintaining the congregation's trust, which is reflected in the expressions of the informants who stated that financial responsibility is their effort to maintain donors' trust. The implication of this research is to present the concept of mosque accounting practices based on the values of faith and fear of God. It concludes that mosque accounting is not only about material (money) but also about a sense of faith in the creator. Further research can study mosque accounting using other social theoretical approaches, such as Islamic phenomenology.

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Copyright of Financial & Economic Law Review is the property of Angle Publishing Co., Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

While efforts to reduce illegal fishing have been underway for some time, market data suggest the volume of illegal fish in the markets is not decreasing significantly. One issue that may be driving this is the difficulty in imposing meaningful sanctions. We discuss an alternative approach aimed at reducing illegal fishing. A State's open register allows relatively unassociated vessels to purchase entry to that register and fly that State's flag. This relationship between the vessel and the flag State is both a financial and legal one. The licensed vessel must comply with laws of the flag State around operations, safety, fishing access agreements, and other regulatory requirements. The flag State must exercise due diligence in the performance of its responsibility to exercise jurisdiction and control over its vessels. The State(s) which has incurred the cost and damages resulting from pursuit, apprehension, and prosecution of the vessel may have a claim for expenses and damages from the flag State if the flag State fails to exercise due diligence. By shifting the costs and harms associated with illegal fishing from coastal States to flag States that fail to exercise jurisdiction and control over the vessels they flag, such flag States may be incentivised to improve oversight over their vessels and join the international effort to combat illegal fishing. [ABSTRACT FROM AUTHOR]

This study examines the relationships among personality traits, financial responsibility, perceived financial capability, and subjective well-being for young adults. Using an integrated approach and a theoretically grounded conceptual framework, a structural model is constructed. This study uses the 2015 Transition into Adulthood Supplemental dataset. The results show that (1) perceived financial capability and personality traits were significantly associated with subjective well-being, (2) financial responsibility, extroversion, conscientiousness, and neuroticism personality traits were associated with perceived financial capability, and (3) extroversion, conscientiousness, and neuroticism were significantly associated with financial responsibility. The same structural model is tested with two racial groups. This additional analysis shows differences in the proposed relationships between non-Hispanic Black and White young respondents. The findings provide a better understanding of the racial differences in the roles played by personality traits, financial responsibility, and perceived financial capability in the subjective well-being of young adults. Implications for researchers, financial counselors, and educators working with young adults are included. [ABSTRACT FROM AUTHOR]

Relations in economic areas is a special sphere of social relations, which is associated with the phenomenon of ownership and which are regulated by civil, budget, tax, customs legislation and others. The federal laws on budgetary, tax, and customs relations adopted at the turn of the 20th-21st centuries enshrined the corresponding types of responsibility that operated in parallel with the administrative one. The variety of types of responsibility for offenses in economic areas made it difficult for law enforcement practice. The work analyze the basis of responsibility in economic areas, to explore the legal nature of liability for violation of legislation on taxes and fees and show its similarity to the legal nature of administrative responsibility. It is proved that the only type of responsibility for offenses in economic areas (in the field of finance, budget, taxes, customs, banking, etc.) is administrative responsibility. Identified the legal nature of liability for violations of legislation on taxes and fees. A proposal was made to remove from the Tax Code of the Russian Federation norms on liability for violations of legislation on taxes and fees and to introduce Chapter 15.1 into the Code of the Russian Federation on Administrative Offenses, and at the same time to remove the elements of violation of legislation on taxes and fees from Chapter 15.1 of the Code of the Russian Federation on Administrative Offences.

The topic of Responsible Finance is becoming an important issue in the functioning of our financial systems. There are many interesting developments in social, governmental and corporate perspectives that promote more ethical and sustainable principles of making financial decisions, allocating resources and capital. The boom in ESG investing (taking into account Environmental, Social and Governance factors) over the last 10 years suggests the great importance of this topic for funding allocation worldwide. Investment proj ects are now assessed on a variety of metrics, not only based on their potential financial gains. Governments also have a role to play, as they support private initiatives and reconsider a huge variety of their projects to account for these additional factors that eventually impact population’s welfare. All economic agents should pay attention to this transformation to not miss out on the new standards of financial responsibility. These changes present great opportunities for the world of finance, whilst having few drawbacks. In this article a closer look at the founding principles of financial responsibility is taken. Authors examine how these principles shape the financial policy with concrete examples from social, corporate and government perspectives. Authors also emphasize the factors that potentially limit the unitary acceptance of such practices around the world.

This article introduces collective rationality and comparative advantage into understanding household financial decision-making responsibility allocation and its relationship to wealth accumulation. Evidence from the Health and Retirement Study (HRS) shows that conscientiousness, memory, and numeracy are favorable personal attributes for household financial decision-making. Greater relative advantages in these attributes predict a higher probability of assuming financial responsibility. Households that assign the disadvantaged spouse as the financial decision-maker tend to have a lower total net worth and a lower financial net worth. Our results suggest that it is critical for financial planning professionals to engage both spouses in the initial discussion of household finances and to assess the efficiency of the status quo financial decision-making responsibility allocation. [ABSTRACT FROM AUTHOR]

This article assesses the responsibility of local governments in Indonesia for the management of refugee care, following the enactment of Presidential Regulation No. 125 of 2016 concerning the Treatment of Refugees (the "PR"). It highlights the limited authority of local governments in handling refugee issues—which is an issue that cuts across several national legal and administrative regimes including Foreign Affairs, Human Rights, and Immigration. This article focuses on the constraints of local political dynamics and budgeting in allocating local government funds for refugee care. In addressing these concerns, the authors argue that the PR should be amended to explicitly define the role of local governments in managing refugee issues and to include the regional revenue and expenditure budget as a source of funding. In addition, the authors argue that local governments that are hosting refugees should establish relevant local regulations for implementation of the PR. [ABSTRACT FROM AUTHOR]

Relations in economic areas is a special sphere of social relations, which is associated with the phenomenon of ownership and which are regulated by civil, budget, tax, customs legislation and others. The federal laws on budgetary, tax, and customs relations adopted at the turn of the 20th-21st centuries enshrined the corresponding types of responsibility that operated in parallel with the administrative one. The variety of types of responsibility for offenses in economic areas made it difficult for law enforcement practice. The work analyze the basis of responsibility in economic areas, to explore the legal nature of liability for violation of legislation on taxes and fees and show its similarity to the legal nature of administrative responsibility. It is proved that the only type of responsibility for offenses in economic areas (in the field of finance, budget, taxes, customs, banking, etc.) is administrative responsibility. Identified the legal nature of liability for violations of legislation on taxes and fees. A proposal was made to remove from the Tax Code of the Russian Federation norms on liability for violations of legislation on taxes and fees and to introduce Chapter 15.1 into the Code of the Russian Federation on Administrative Offenses, and at the same time to remove the elements of violation of legislation on taxes and fees from Chapter 15.1 of the Code of the Russian Federation on Administrative Offences.

Financialisation has driven many transformations across advanced capitalist economies and their welfare systems have not been immune from such change. Finance works both as structural force in society, and as a more contingent and contextual set of practices that place demands on the conduct of individuals and the welfare system lies at the intersection of these tendencies. Financial markets have long played a role in the provision of housing or pensions, but are also becoming increasingly visible in benefit systems targeting the poor and economically excluded. Given the exclusionary nature of finance and the marginal assistance it provides to those on low incomes, tensions and contradictions emerge that demand further investigation. This article takes as a case study the recent reform of UK welfare known as Universal Credit and the specific discourse of 'financial responsibility' that has emerged around it. This has brought the disciplinary toolkit of the welfare state to bear on ensuring the population meets the demands of financial valuation. Yet the difficulties these reforms have faced suggest that the logics of finance and welfare will always be pulling in different directions. [ABSTRACT FROM AUTHOR]

Several indicators on human development and capabilities have been introduced in recent decades that measure the absolute level of deprivations and freedoms of people. However, these indicators typically do not consider to what extent regions and countries efficiently spend their limited financial resources on improving human development. This is an important shortcoming because regions typically face different financial constraints in developing social policies and promoting human development. In this article, we advance methods from data envelopment analysis (DEA) to measure absolute capability values and the social efficiency of 129 Brazilian mesoregions. We present a new indicator called the Capability Index Adjusted by Social Efficiency (CIASE) that evaluates the human development performance of regions based on their absolute levels of deprivations as well as their social efficiency in translating limited financial resources into human development. Moreover, we introduce a Deprivation and Financial Responsibility based Prioritization Index (DFRP) that helps to identify priority regions for higher public expenditures in human development. Our results for the case of Brazil show that several poor regions perform relatively better in terms of social efficiency than in terms of absolute human development. Conversely, several rich regions perform relatively worse in terms of social efficiency than in absolute values. Thus, our analysis shows how DEA methods can help to bridge perspectives that are often presented as separated issues but could be strong allies for development: attending to human deprivation and promoting social efficiency. [ABSTRACT FROM AUTHOR]

The model of financial risk prediction we developed and present in our paper is based on the theoretical assumption that there exists a significant relationship between actual economic situation and values. This assumption confirmed by the research influences the potential risk in financial behaviour and it becomes actual especially in the case of changing life conditions. The concept of the model is based on data received from 3768 respondents questioned across the Czech Republic. Measured variables were indexed, and the cluster and factor analyses were used for multivariate analysis. The model is unique in the combination of personal values projected into six generalized value types and developed economic indexes clustered in four types of economic situations. The primary purpose of the model is to identify the anticipated personal financial risk of clients. The model has fundamental applications as a diagnostic or auto-diagnostic tool in social work, counselling, psychotherapy, and other helping professions, or as a research instrument leading to various hypotheses and to the enhancement of theories concerning economic behaviour.

Accounting provides a distinctive conceptual lens to analyse how neo-liberal reforms in the public sector operate. Despite this, appreciation of the significance of accounting as a key neo-liberal instrument of organisational change is only embryonic in social work research. Against this background, this article presents the findings of an empirical study, conducted across children's services departments at three English councils, which illuminates how neo-liberal policies inculcate financial responsibilities in social work by examining the microprocesses surrounding the application and usage of accounting techniques. The instillation of neo-liberal values that underpin the use of accounting in social work privileges economic efficiency over those emphasising collectivism and organisational resilience. The extent to which accounting has been embraced appears mixed, however, with managers supportive of neo-liberal values and techniques, but frontline practitioners are more circumspect. Another unintended but emancipatory potential reflects the opportunities for social work professionals to reassert their epistemological claims by reshaping accounting with social work values. However, such outcomes remain a distant possibility, whilst managerialism retains its stranglehold on social work. This study raises awareness for the need not only to be cognizant of but also to critically evaluate accounting's role across all areas of social work. [ABSTRACT FROM AUTHOR]

Financial literacy helps you manage your money more effectively, achieve financial security and independence, and is essential for making important life decisions. This is especially important for students who are just starting their independent financial life. The purpose of the presentation is to assess the change in students' financial behavior in the context of working relationships. Research on financial literacy was conducted at Kauno kolegija Higher Education Institution. The research method used was a questionnaire survey which consists of 57 questions divided into four groups: budget, credit and debt, savings and investments, and financial responsibility. An anonymous survey was carried out in the 2022-2023, with 369 students participating. The results showed that 53.7% of employed respondents' current expenditure is lower than their income. 67.8% of employed respondents reduce their spending when they run out of money. 80.2% of the employed are not willing to borrow from family or friends. Working respondents are more likely to save than non-working, and 52.9% of them save regularly. In terms of investment knowledge, there is a statistically significant difference between the employed and the non-employed groups i.e., 34.7% of earners are likely to invest. [ABSTRACT FROM AUTHOR]

The tax system and the corresponding area of legal regulation of a new type is emerging in Russia for almost 15 years, but the problems of efficiency of the tax liability lately has been paying more and more attention. Tax ratio has a complex economic-legal nature. The economic content of tax relations is mediated by macroeconomic parameters of national economic policy, statistical parameters of tax planning and tax administration. The beginning of the tax administrative relationships manifest in the power relations on establishment, introduction, collection of taxes and fees, as well as fiscal control. The constitutional principle of separation of powers determines the administrative and judicial procedure for appealing against acts of tax authorities and actions and inactions of their officials. This article is devoted to analysis of the problems associated with the content, structure of tax legal relations, similar to this aspect of the problem of tax offences, their classification and establishing the appropriate tax liability for committing them. The article examines the nature and types of taxation, the tax legal relations, rights and duties of subjects of tax relations.

Copyright of Collected Papers of Zagreb Law Faculty / Zbornik Pravnog Fakulteta u Zagrebu is the property of Sveuciliste u Zagrebu, Pravni Fakultet and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

An important part of having slaves as a labor force is insuring their lives and their income. This paper explores whether antebellum life insurance companies insuring slaves did so appropriately and/or responsibly from a financial perspective. Determining whether antebellum life insurance companies did so is essential, as life insurance is a major segment of the economy of most countries and hence it is vital that life insurers perform well and are viable for the benefit of other industries and national economies, including with respect to the antebellum United States. This is the first study to investigate several critical financial elements, including premiums, expenses and mortality, of antebellum life insurance companies regarding feasibility. One characteristic of the results is that if firms employed a suitable expense assumption then the premium did not have a high enough mortality assumption and vice-versa. Additionally, most premium increases used regarding hazardous occupations, sum insured limits and location failed to adequately account for the associated increased mortality. The overall result is that, from a financial perspective, antebellum life insurers had trouble accounting for slave life insurance appropriately and/or responsibly. [ABSTRACT FROM AUTHOR]

Copyright of ConTexto is the property of ConTexto and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article considers causal relations as necessary conditions for bringing to financial responsibility according to the Labour Law. Attention is concentrated on philosophical and legal analysis of category «cause-effect relation». The author analyses the conceptions of reason’s connection in the Labour Law.

Personal savings rates in the United States are low, creating potentially negative consequences for individuals and the population. As positively influencing savings behavior for the public is a crucial task, this study conducted two experiments to test the effects of social norms and benefit information and the moderating role of an individual’s financial responsibility in increasing the effectiveness of public service advertisements promoting savings behavior. Study 1 tested the effects of a social norm, in conjunction with benefits to saving, on individuals who varied with respect to financial responsibility. In light of Study 1 results, Study 2 replicated this design with a more socially and spatially proximal norm. Taken together, the results supported that compliance to norm and benefit information varied with financial responsibility level. Implications for social norm theory and improving social marketing campaigns to promote saving are provided. [ABSTRACT FROM AUTHOR]

Doctrinal idea of the tax and legal nature of fines can be reduced to three areas, according to the fine which means: as a means of support; as a sanction; as such, has a dual legal nature (consisting properties sanctions and way of security). No matter what the legal nature give a penalty (penalties mode support, double) confer on her performance compensation function. Paper main body. The position on the legislator specified penalty as a way to ensure or warrant by itself can not be decisive for its legal nature. Timely and full payment of taxes and duties include calculating fines. Penalty is a complement to the amount unpaid on time taxes and fees, as occurs after conversion of such amounts in arrears. The fine is an additional burden for property taxpayers, compared to its initial obligation to pay taxes and fees. Interest penalties are the result of the expiry of the duty to pay taxes and fees. The fine is enforceable as of its payment obligation goes beyond the obligation to pay taxes and fees. Penalty should compensate the delay budget revenues provided the amounts of taxes and fees. Penalty in the tax law should be seen as compensation sanction, which provides prevention of crime and compensation for late payment of taxes and duties to the relevant budgets. Size of fines consists of several elements: the statutory interest penalty amount; the period of delay in payment of taxes and fees; amount by which the penalty is charged. In Ukraine tax law is fine-compensatory penalties, due to its calculation both unpaid taxes and duties on time and in the amount of fines. Penalty can perform the function of compensation subject to its charging only for the amount of untimely paid taxes and fees, the accrual of penalties for the same amount of other compensation contrary to its purpose. It is necessary to amend the Tax Code of Ukraine, which resulted in the penalty should be assessed only on the unpaid taxes and duties on time. Conclusions of the research. By its tax and legal nature of compensation is fine sanction for violation of terms of payment of taxes and charges applied in the form of interest accrued on unpaid on time taxes and fees. Late in tax law is the sanction for violation of terms of taxes and duties, which resulted in the detention of tax revenues to the respective budgets. Belonging to the measures of tax penalties and legal liability of predetermined complementary with respect to the amount of taxes and fees that were not paid on time. Creating additional burden for property taxpayers, providing additional income to the respective budgets penalty has tax and legal nature of compensatory sanctions

The aim of the author of this paper isto show the relationship between the level of financialresponsibility of individuals and of companymanagers and the stability of financial markets, assetmarkets and the stability of the financial system as awhole. In Bosnia and Herzegovina (B&H) after the1992-1995 conflict, there was a large influx offunding into the local economy both from the fields ofFDI (Foreign Direct Investment) and bilateral andunilateral aid. Many people in BH were keen toaccess loans in a seemingly cash-rich economy, butwere ill-prepared in the fields of financial borrowingand handling debt properly. Subsequently theyexperienced difficulties in servicing obligations andthe loan portfolio of banks has deteriorated. Thus theonset of the financial crisis has brought somethingpositive. Borrowing in B&H dropped, but problemsservicing existing loans rose. The situation has notyet become problematic but banking sector shortfallstend to manifest themselves between 12-18 monthsafter the event. The author believes that a moreserious approach to financial responsibility at microlevelsis necessary for the national economic good.

There are two types of villages in government system of Bali Province, these are the Official Village and the Customary Village. The Financial division of these two Villages in Bali is expected to be regulated fairly because those two villages are recognized their existences, otherwise the provision of rural funding must also be given to these two villages. Nevertheless, the Regulation of Minister of Domestic Affairs No. 113 Year 2014 concerning on Financial Management does not regulate the usage of funds for the Customary Village. This study applied research of normative law that beganl. From the void norm in the provision of rural funds to the Customary Villages in Bali. Thus, the result of this research is the provision of rural funds to the Customary Village based on the Regulation of the Minister of Domestic Affairs No. 37 year 2007 concerning on Guidelines for Rural Financial Management and Regulation of Minister of Rural Affairs No. 5 year 2015 about Priority of Village Fund Usage year 2015. Meanwhile the responsibility is undertaken by the Customary Village which the funds were transferred first to Village Revenues and Expenditures Budget (APBDes) of Oficial Village, therefore the Customary Village are obliged to make Responsibility Report (SPJ) in each use of funds.

Questions arise as to what will happen when a foreign investor sues a Member State or even the EU, given the new European Union (EU) competence over foreign direct investment (FDI) from the Lisbon Treaty, Articles 206-207 of the Treaty on the Functioning of the European Union (TFEU). In particular, financial responsibility of the EU resulting from an investor-state arbitration is now becoming a politically sensitive topic, particularly regarding the on-going negotiations between EU and third countries for the conclusion of investment-related international agreements. While the EU bears, in principle, international responsibility for the breach of any provision to which it is bound under international law, it is possible, under EU law, to provide for the allocation of financial responsibility between the EU and its Member States. This paper analyses the recent EU Regulation on financial responsibility in investor-State arbitration, putting it in the broader framework of the creation of an EU investment policy and the on-going negotiations between the EU and third countries for the conclusion of investment-related international agreements. [ABSTRACT FROM AUTHOR]

Medical care refers to a risky type of activity, since as a result of its provision, harm to the patient's health may be caused and prerequisites for the onset of legal (civil, disciplinary, administrative and criminal) liability may arise. The legal liability of a pathologist in the event of an incorrect diagnosis by the attending physician on the basis of an incorrect conclusion of the pathologist may occur due to violations due to low qualifications, frivolity, negligence, failure to comply with the rules, procedures for providing medical care, job descriptions, official duties. If the incorrect conclusion of the pathologist was of an objective nature (for example, in the case of an incorrect interpretation of a diagnostically difficult case), it should go beyond the scope of punishable shortcomings in the activities of the pathologist. The financial responsibility of a pathologist may occur when its burden is placed on a medical organization for harm caused to the life or health of a patient, due to the establishment, among other things, of the legality of the actions (inaction) of a medical worker with whom the medical organization is in an employment relationship. A medical organization, in case of satisfaction of the patient's claims by the court, as a rule, in a regression procedure, may involve the relevant medical worker who caused the harm in the issue of compensation, compensate for their financial and reputational losses. The most important thing in such cases is to resolve the issue of establishing the grounds for bringing a medical worker to responsibility.

Over the past decade, carbon capture and storage (CCS) has moved from the planning phase to experimental phase (e.g., Alabama Gulf Coast-Plant Barry and Illinois Basin-Decatur), but has yet to be implemented at a commercial scale from an Electric Utility Generating Unit (EGU). Barriers to commercial-scale deployment of CCS include concerns regarding potential risks and financial liability related to human health, safety, the environment, and business interruption. Although the probability of a release may be small, prudent risk management requires estimates of the funds required to remediate or compensate for harm, should a release occur. The analytic tools exist to estimate dollar values of potential risks. Such estimates are a function of location, plant design (fuel source, technology), and must be estimated on a site-specific basis. This paper applies a stochastic Monte Carlo model (“CCSvt Model”) that estimates financial consequences arising from potential human health, safety, environmental and business interruption risks (events) associated with CCS, in light of their anticipated site-specific likelihood and magnitude. The authors contend that use of the CCSvt Model, and corresponding results, foster a best practice understanding of the potential risks and financial liabilities associated with proposed CCS projects. In the authors’ view, the results of the CCSvt Model can contribute to a more productive public dialogue regarding CCS, improved siting of CCS projects, and ultimately support the commercial-scale deployment of CCS- technology. The authors conclude that the CCSvt Model is sufficiently flexible in design that it can be adapted to estimate damages distribution curves for myriad types of CCS projects, scaled for plant design and geographic location. As a proof of concept, the authors apply the CCSvt Model to the Alabama Gulf Coast-Plant Barry pilot project in Mobile, Alabama. [ABSTRACT FROM AUTHOR]

The EU institutions are committed to include investor-State arbitration clauses in EU ILAS with third States. However, there are at least three unresolved problems in doing so. First, the EU is not, and is unlikely to become, a Contracting Party to the ICSID Convention. While this deficiency may be remedied by replicating relevant provisions of the ICSID Convention, EU investors cannot benefit from ICSID's institutional clout which could facilitate enforcement of awards. Secondly, there may be problems from an eu law perspective. Arguably, the EU could only include investor-State arbitration clauses in EU ILAS with third States following a change in EU primary law such that investment tribunals could request a preliminary ruling from the CJEU in accordance with Article 267 TFEU. Thirdly, to date there appears to be no agreement within the EU on the question who will be the proper respondent in an arbitration. [ABSTRACT FROM AUTHOR]