Vesna Novaković

Forensic auditing is a significant tool for detecting, preventing, and proving financial irregularities, fraud, and corruption, thereby contributing to the strengthening of financial management and control systems in both the public and private sectors. The subject of this paper is an analysis of the role of forensic auditing in improving financial management and control systems, with a special focus on its contribution to increasing the transparency, accountability, and efficiency of financial resource management. The aim of the research is to examine the significance and potential application of forensic auditing in detecting financial misconduct, reducing fraud risk, and strengthening internal control mechanisms, based on a theoretical analysis, a review of relevant scientific and professional literature, and empirical research. The main hypothesis of this research posits that the application of forensic auditing significantly contributes to the improvement of financial management and control systems by enabling the timely detection of irregularities, more efficient risk management, and greater reliability of financial reporting. The research results indicate that forensic auditing is an important mechanism for improving corporate and public governance, strengthening the integrity of financial processes, and increasing stakeholder confidence. The scientific contribution of this paper lies in the systematization of theoretical knowledge and in highlighting the importance of the broader application of forensic auditing as a tool for contemporary financial management and control.

This paper explores public expenditures aimed at biodiversity preservation in the Republic of Srpska. The central research question addressed in this paper is: How much public funding is allocated to biodiversity protection in the Republika Srpska? Accordingly, the subject of the research is the analysis of public sector expenditures in the Republika Srpska, with a particular focus on budget allocations aimed at biodiversity conservation. The main hypothesis of the study is that allocations for biodiversity protection account for approximately 1% of total public expenditures in the Republika Srpska. However, the research is subject to several challenges and limitations. A key constraint is the absence of a unified database for tracking and identifying biodiversity-related investments, This lack of systematic data classification complicates the precise assessment of financial flows directed toward biodiversity. Furthermore, the introduction of a program-based budgeting system, accompanied by clearly defined monitoring and control mechanisms, would significantly improve the accuracy and transparency of data collection on public expenditures by purpose. Such reforms would enable a more reliable evaluation of biodiversity-related investments.

This paper explores the evolution and growing importance of artificial intelligence (AI) in contemporary marketing, with particular emphasis on predictive analytics, hyperpersonalization, and user engagement. Beginning with the earliest applications in the 1950s through market segmentation algorithms, and continuing with the introduction of Customer Relationship Management (CRM) systems in the 1980s and the rise of big data and machine learning in the 2010s, AI has gradually transformed marketing practices. Modern AI tools facilitate the automation of routine processes, enable large-scale personalization of communication, and provide valuable insights derived from vast datasets. Generative AI, particularly through platforms such as ChatGPT, has revolutionized content creation and consumer interaction by mimicking human language with minimal human input. Recent labor market findings point to the rapid and widespread adoption of AI, especially in marketing and advertising sectors. Predictive algorithms are increasingly employed to anticipate consumer behavior, manage campaigns, and enhance segmentation strategies. Furthermore, the integration of AI with voice assistants, augmented reality (AR), and virtual reality (VR) is opening up new possibilities for real-time, interactive marketing campaigns. Despite challenges related to data integrity and algorithmic transparency, the advantages of AI-driven strategies are substantial, and continued investment in research and innovation is crucial to realizing its full transformative potential. A dedicated section of this paper presents a case study of the global company Mercedes-Benz and its implementation of AI technologies in business operations and marketing strategy.

This paper explores the strategic frameworks and financial mechanisms aimed at biodiversity preservation in the Republic of Srpska. Through an analysis of current regulations and strategic documents in the field of biodiversity, the goal of this research is to identify key issues and provide recommendations for effectively financing biodiversity conservation efforts in the Republic of Srpska. The central research question addresses whether the existing strategic and legislative frameworks adequately recognize the need for biodiversity preservation. The hypothesis guiding this study is that the current strategic and legislative frameworks do indeed acknowledge the importance of biodiversity preservation and that these frameworks include clearly defined financial allocations for biodiversity investment. Through desk research, analysis of the strategic and legislative framework and planned financial resources, we will confirm or refute the hypothesis. One of the primary limitations of this research is the limited access to relevant data concerning biodiversity financing in the Republic of Srpska.

Globalni standardi interne revizije vode svjetsku profesionalnu praksu interne revizije i osnova su za evaluaciju i postizanje kvaliteta interne revizije. Postavljaju principe, zahtjeve, razmatranja i primjere za profesionalu praksu interne revizije na globalnom nivou. Standardi se primjenjuju na funkciju interne revizije i pojedinačne interne revizore, uključujući rukovodioca jedinice interne revizije. Interna revizija doprinosi sveukupnoj stabilnosti i održivosti organizacije pružajući sigurnost i njenu operativnu efikasnost, pouzdanost izvještavanja, usklađenost sa zakonoma i/ili propisima, očuvanje imovine i etičku kulturu. Rukovodilac jedinice interne revizije odgovoran je za implementaciju i usklađenost funkcije interne revizije sa svim principima i standardima, a svi interni revizori su odgovorni za usaglašavanje sa principima i standardima koji su vezani za etiku i profesionalizam, te obavljanje usluga interne revizije. Ovim radom želi se ukazati na primjenu Globalnih standarda interne revizije u procesu finansijskog izvještavanja. Korištene metode prilikom istraživanja su: deskriptivna metoda i anketni upitnik. U radu se nastoji dati teorijski doprinos, te proširiti postojeća fundamentalna saznanja iz navedene oblasti, te prikazati kako primjena Globalnih standarda interne revizije utiče na rad interne revizije i kvalitet prezentovanih podataka u finansijskim izvještajima, a što može imati posljedice za investitore prilikom donošenja poslovnih odluka na osnovu finansijskih izvještaja.