Prelims

Half Title Page

MANAGING RISK AND DECISION MAKING IN TIMES OF ECONOMIC DISTRESS, PART B

Series Page

CONTEMPORARY STUDIES IN ECONOMICS AND FINANCIAL ANALYSIS

Series Editor: Simon Grima

Title Page

CONTEMPORARY STUDIES IN ECONOMIC AND FINANCIAL ANALYSIS - Volume 108

MANAGING RISK AND DECISION MAKING IN TIMES OF ECONOMIC DISTRESS, PART B

EDITED BY

SIMON GRIMA

University of Malta, Malta

ERCAN ÖZEN

University of Uşak, Turkey

and

INNA ROMĀNOVA

University of Latvia, Latvia

United Kingdom – North America – Japan – India – Malaysia – China

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Emerald Publishing Limited

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First edition 2022

Editorial matter and selection © 2022 Simon Grima, Ercan Özen and Inna Romānova. Published under exclusive licence by Emerald Publishing Limited.

Individual chapters © 2022 Emerald Publishing Limited.

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ISBN: 978-1-80262-972-9 (Print)

ISBN: 978-1-80262-971-2 (Online)

ISBN: 978-1-80262-973-6 (Epub)

ISSN: 1569-3759 (Series)

Contents

About the Contributors

Anca Băndoi, currently Dean of Faculty of Economics and Business Administration, University of Craiova, is PhD Associate Professor at the Faculty of Economics and Business Administration. She holds a Doctorate in Cybernetics and Economic Statistics since 2002 and a postdoctoral degree in the field of financial modelling from the European Structural Funds through the University of Craiova since 2014. She has been Teaching undergraduate and master students since 1995. Her main research areas include macroeconomics, microeconomics, financial modelling, financial analysis, financial forecasting, and evaluation of real estate properties. Her research has resulted in the publication of four books as a single author and co-author, and more than 30 articles in important specialised journals. In the last 11 years, she was part of the Management Team of the University of Craiova in charge of Education Quality Assurance.

Cătălin Mihail Barbu is an Associate Professor at the Department of Management, Marketing, Business Administration, Faculty of Economics and Business Administration within the University of Craiova, Romania. In 2006 he obtained PhD degree in International Economic Relations within Faculty of Economics, University of Craiova, Romania. Since 2001 he has been teaching courses on topics, such as marketing, international marketing, and brand management. He has been co-operating within research projects with national and international universities and organisations. He is a Member of the European Marketing Academy and he serves in the Editorial Board of several journals in Romania and abroad.

Ender Baykut received his BSc in Management in English (2011) and International Trade and Finance (2011), MSc in Finance (2013), and PhD in Finance (2017) from the University of Kocatepe. He is currently working as an Associate Professor of Finance at Management (English) Department, Economics and Administrative Sciences Faculty of Kocatepe University. His research interests include corporate finance with emphasis on corporate governance, financial econometrics particularly in ARCH/GARCH Family Models and Financial Markets and different aspects of finance. He has more than 25 internationally indexing articles, 20 conference proceedings, and more than 10 book chapters. In addition to this, he is the Author of CDS and Emerging Markets and Co-author of Financial Accounting Book in English.

Mag. Sabina Taškar Beloglavec is a Senior Lecturer in the field of finance at the Faculty of Economics and Business of the University of Maribor, Slovenia, Department for Finance and a Researcher at the Institute for Finance and Artificial Intelligence. She concluded her graduate and postgraduate studies at the University of Maribor. Her main research interests are post-COVID-19 bank digitalisation and business model change, ethical and socially responsible banks’ activities, non-financial reporting in financial institutions, and international taxation. She has published several articles in national and international journals, parts of monographs, and has attended several international scientific conferences. She is also Active in other fields, for example, is a Member of Union Supervisory Board, educates primary school pupils on financial knowledge, was a Member of Curriculum Development Group, and Supervision of secondary schools at the National Education Institute of the Republic of Slovenia.

Claudiu George Bocean is a Professor and PhD Supervisor at the Faculty of Economics and Business Administration at the University of Craiova. In 2007, he obtained a PhD degree and, in 2015, Habilitation title in Management. Since 2002 he has been teaching at the Faculty of Economics and Business Administration, the University of Craiova, teaching courses on HR management, labour economics, organisation theory, business ethics, and participating within research national and international projects.

Kristīna Bojare holds a master’s degree in Economics and is currently developing a PhD thesis at the University of Latvia on the subject of financial cycles. Professional background includes positions such as a Senior Methodology Expert in Banking Supervision at the Financial and Capital Market Commission in Latvia for over five years and a Lecturer of Financial Management course at the University of Latvia. Academic interests encompass macroprudential instruments, financial stability, and banking supervision.

Adrian-Florin Budică-Iacob is an Assistant Professor, PhD, at the Faculty of Economics and Business Administration at the University of Craiova. In 2017 he obtained PhD degree in Management. Since 2013 he has been teaching at the Faculty of Economics and Business Administration, the University of Craiova, teaching courses on Management, Business Ethics, Business Negotiation Techniques, Transportation Management, and participating within research national and international projects.

Qëndrim Bytyqi is a Master Student at the Hasan Prishtina University in Prishtina. He is nearing completion of his courses in Management and Informatics. In 2019, he graduated from the University ‘Ukshin Hoti’ in Prizren with a bachelor’s degree in international management. His interests in the research field include management, human resources, economics, organisational behaviour, etc.

Victoria Cociug, PhD is an Associate Professor, Didactic and Scientific Activity, a Member of the Center for Economic Research within ASEM, a Member of the Research Team of Faculty Finance, ASEM, participates in eight national research projects, including three as Project Director and one as Chief Executor. Dr Cociug has been a PhD Supervisor from 2010. The research activity resulted in six courses published in recognised publishers (co-author), seven specialised books published in recognised publishers, including five books as first author; 101 articles, including: 26 articles as single author in journal indexed in international databases; and research field: banking, financial risk, monetary policy, investment strategies and financial markets.

Florin Costea is a PhD Student studying the relationship between public sector governance and entrepreneurship. He already presented part of his research results in international conferences and published articles in journals indexed in international databases. He is also the Head of Finance in the Romanian corporate headquarters of a multinational company.

Mirela Cristea is a Professor PhD at the University of Craiova (Romania), Faculty of Economics and Business Administration, Department of Finance, Banking and Economic Analysis, Center for Economic, Banking and Financial Research. Her main research directions and teaching activities are insurance and private pension funds, banking administration, and interdisciplinary research in economics. She obtained the scientific title of PhD in Economics at the University of Craiova, and graduated the Postdoctoral School in Economics and Applied Sciences in Economics at the Romanian Academy from Bucharest, on the subject of private pension system in Romania. She received two awards from the Faculties on Economics Association from Romania, in 2007 and 2013, for two books on life insurance and pension system subjects. In addition, she is a Reviewer and Member of the Scientific and Organisational Committees for numerous journals and conferences.

Maria Magdalena Criveanu is an Assistant Professor at the Department of Management, Marketing, Business Administration, Faculty of Economics and Business Administration within the University of Craiova, Romania. In 2017 she obtained PhD degree in Management within Faculty of Economics, University of Craiova, Romania. Since 2015 she has been conducting seminars on topics such as marketing, management, sales management, and logistics. She is a part of non-governmental associations involved in numerous educational projects and has been co-operating with national and international educational institutions within research projects.

Daniela Dănciulescu received the PhD degree in Cybernetics and Economic Statistics from the Faculty of Economic Sciences, University of Craiova, in 2003. She received second PhD degree in computer science from the West University of Timisoara, in 2015. She is currently working as an Associate Professor in University of Craiova. She has authored/co-authored eight books and over 80 papers in peer-reviewed journals, out of which 18 are ISI papers.

Busmachiu Eugenia has more than 25 years of experience in teaching and research in the area of Economics. She is an Associate Professor at the Academy of Economic Studies of Moldova, Finance and Insurance Department. She has a vast experience in financial management and public finance. Her research focusses in the areas of public finance, corporate finance, and financial management. She is currently working on a variety of projects related to economic instruments in the water sector, project investment appraisal and selection, public investment management and planning, financial analysis, and economic governance.

Simon Grima is the Head of the Department of Insurance, in charge of the Bachelor of Commerce in Insurance, the Bachelor of Commerce (Honours) and master’s degrees in Insurance and Risk Management and an Associate Professor at the University of Malta. He set up the Insurance Department in 2015 and started and Coordinates the MA and MSc Insurance and Risk Management degrees. He served as the President of the Malta Association of Risk Management between 2013 and 2015, and President of the Malta Association of Compliance Officers between 2016 and 2018. Moreover, he is among the first Certified Risk Management Professionals and a Board Member of the Federation of European Risk Managers (FERMA), is the Co-chair and Chairman of FERMA Certification and the Scientific Education Committee of the Public Risk Management Organization, respectively, and was a Member of the Curriculum Development Team of Professional Risk Managers’ International Association in 2014. His research focus and consultancy is on governance, regulations and internal controls (i.e. risk management, internal audit and compliance) and has over 30 years of experience varied between financial services and with public entities in academia, internal controls, investments and IT. He acts as an Independent Director for Financial Services Firms, sits on Risk, Compliance, Procurement, Investment and Audit Committees, and carries out duties as a Compliance Officer, Internal Auditor and Risk Manager. He has acted as Co-chair and is a Member of the Scientific Program Committee on some international conferences and is a Chief Editor, Editor and Review Editor of some Journals and Book Series. He has been awarded Outstanding Reviewer for Journal of Financial Regulation and Compliance in the 2017 Emerald Literati Awards.

Dr Vita Jagrič is an Assistant Professor of Finance at the University of Maribor, Slovenia, Faculty of Economics and Business (EPF), Department for Finance, and a Researcher and Consultant at the Institute for Finance and Artificial Intelligence. Her background is in Economics and Law. Her PhD thesis was exploring banks’ quantitative risk management methods in credit risk. She was a Speaker at European convention in quantitative methods and risk management at University of Hull (UK), and at European Actuarial Academy’s Seminar: Capturing Risks in Insurance Premiums. Her research interest comprises risk management and insurance, public finance and taxation, financial regulation, and supervision. She has published several articles as (co)author in (inter)national journals and monographic units. Recently, her research also includes health policy and health economics, exploring the economic impact and architecture of the healthcare sector on national, regional, and local level.

Staver Liliana is a PhD Candidate in Marketing and Logistics. Her main research fields of interest are international business, logistics and supply chain management, inter-, trans-, and multidisciplinary research, neuromarketing. She is a Chief Editor of the international journal ‘Working Papers’ indexed in three international databases (CEEOL, DOAJ, and RePEc). She has presented various papers at international conferences and published more than 30 articles and papers in national and international journals. She is a MC Member in COST ACTION 18214 – The Geography of New Working Spaces and the Impact on the Periphery; and MC Substitute in COST ACTIONS: 18232 – Mathematical models for interacting dynamics on networks and 18126 – Writing Urban Places. New Narratives of the European City. Moreover, she is a Team Leader Expert in international Erasmus projects, as Minerva – Strengthening Research Management and Open Science Capacities of Heis in Moldova and Armenia.

Oana-Ramona Lobonţ is a Professor, PhD Habil., at Finance Department from Faculty of Economics and Business Administration, West University of Timisoara. She is a PhD Advisor in Economics, Finance specialisation. Her research mainly addresses the public economic field, namely the funding of public organisations, public policies, welfare, good governance, general public sphere and new governmental forms. Her research in these fields has been published in 10 books and more than 40 papers indexed in Web of Science, SSCI academic journals.

Ardelin Lumi is a Student at Hasan Prishtina University in Prishtina. He is nearing the end of his studies in Management and Informatics. In 2019, he graduated from the University ‘Ukshin Hoti’ in Prizren with a bachelor’s degree in international management. His interests in the field of research include management, human resources, economics, information technology, social entrepreneurship, etc. He works in the NGO THY as a Trainer and Facilitator, he also worked in the Central Election Commission as a Trainer. He has participated in many trainings in the field of entrepreneurship and public communication.

Lucian Mandache received the MS degree in Electrical Engineering from the University of Craiova, Romania in 1987, and the PhD degree in Electrical Engineering from the Politehnica University of Bucharest, in 2003. He joined the R&D and Testing National Institute for Electrical Engineering (ICMET) Craiova, in 1989, leading many research and design projects for low voltage equipment of power conversion and unconventional measurement systems. In 1998, he joined the Department of Fundamentals in Electrical Engineering, Faculty of Electrical Engineering – University of Craiova, where he is currently Full Professor. His current research interests include non-linear and switching-mode analogue circuit analysis, power quality diagnosis and improvement solutions, ferromagnetic core devices, wireless power transfer, sensitivity and tolerance analysis of complex systems, miscellaneous CAD/CAE tools including multiparameter optimisation and parameter extraction. He is an Active Member of IEEE CAS, IES, and Magnetics Society.

Larisa Mistrean has more than 28 years of Scientific–Didactic and Research experience in the area of Economics. She is an Associate Professor the Academy of Economic Studies of Moldova, Investments and Banking Activity Department. Her research focusses in the area of banking management and marketing, corporate governance, monetary policy, and has published more than 70 papers. She is the Project Director and Principal Investigator of the Moldovan state research project ‘Behavioral evolutions of consumers of financial-banking services in the new economic configuration’ (2021–2024). She is a MC Member in COST ACTION 19103 – LGBTI+ Social and Economic (in)equalities and MC Substitute in COST ACTION 17125 – Public Value Capture of Increasing Property Values; an Editorial Member and Member of Committee of Reviewers of the International and National Journals of Finance and Banking Research; Member of Scientific Committee and Member of Organizing Committee of the International Scientific Conferences organised in Moldova, Turkey, Romania.

Ana-Cristina Nicolescu is an Associate Professor, PhD Habil. within the Finance Department, Faculty of Economics and Business Administration, West University of Timisoara, since 2009; and also a Permanent Associate Professor within the University of Nice Sophia Antipolis, France since 2013. Her research addresses primarily the corporate sector sphere, implying also interdisciplinary research directions: Impact studies of firm value and maximising supply chain management efficiency; Business and sustainability; Corporate governance; and Firm performance and economic growth.

Graţiela Georgiana Noja is an Associate Professor PhD Habil., at the West University of Timisoara (Romania), Faculty of Economics and Business Administration, Department of Marketing and International Economic Relations. She completed her studies at the West University of Timisoara, respectively, PhD habilitation and PhD in Economics; Master in Management and European integration; and BA in International Economic Relations. In addition, she developed several national and international projects and has a wide membership in various educational organisations, research networks, and scientific and review committees of top tier journals and international conferences. Her main research and teaching activities are developed within the framework of economics and international business area, with a focus on world economy, globalisation, and European economic integration.

Dr Ercan Özen received his BSc in Public Finance (1994), MSc in Business-Accounting (1997), and PhD in Business Finance (2008) from the University of Afyon Kocatepe. Now he is an Associate Professor of Finance in Department of Banking and Finance, School of Applied Sciences, University of Uşak, Turkey. His current research interests include different aspects of Finance. He has (co-) authored five-chapters book and more than 40 papers, and more than 30 conferences participation. He is a Member in International Program Committee of three conferences and workshops. He is a Chair of International Applied Social Sciences Congress. He is also a Certificated Accountant, Member of Agean Finance Association, and the Member of TEMA (Turkey Combating Soil Erosion, for Reforestation and the Protection of Natural Resources Foundation).

Luminita Popescu, PhD (Management), is an Associate Professor at the Faculty of Economics and Business Administration, University of Craiova (Romania), where she delivers courses on management, human resources management, and corporate responsibility of organisations. Her current research focusses on the efficient management and development of human capital of organisations. She has also published various articles in international journals, such as Economic Research-Ekonomska Istraživanja and Amfiteatru Economic and Sustainability.

Rathinasamy Prince is currently working as a Doctoral Candidate at the Department of Management Studies, Indian Institute of Technology, Roorkee, Uttarakhand, India. His research interests are organisational behaviour, talent management, and human resource management. He has published his research work in various international journals, such as International Journal of Organizational Analysis and International Journal of Productivity and Performance Mangement, and presented his research findings at various national and international conferences, such as PAN IIT International Management Conference 2018 and Evidence Based Management Conference 2017.

Dr M. Kameshwar Rao is currently working as an Associate Professor at Indian Institute of Technology, Kharagpur, India. His areas of research are competency management, sustainable human resource management, corporate social responsibility, and intellectual capital. His teaching interests are Applied Organisational Psychology, Management of Change, Personal Growth Lab, and Industrial and Labour Law. He has published his research work in more than 20 international journals, such as Creativity and Innovation Management, Global Business Review, Business Perspective and Research, etc. He has completed more than seven funded research projects both nationally and internationally.

Ionuţ Riza obtained a bachelor’s degree in Economics, specialising in Business Informatics (2007), with a master’s degree in Business Administration (2009). Since 2019 he has been pursuing a PhD in management. He is currently pursuing the postdoctoral studies program at the University of Craiova. The main objective of the postdoctoral research project is to analyse the management of human resources skills from the perspective of risk management at organisational and cyberlevel. The research is based on assessing the skills needed by employees whose activities influence the security of any organisation. This includes both the regular employee, who uses the Internet or computer network of the organisation, and IT security professionals. Another objective is to implement the proposed model of cybersecurity skills based on minimum general knowledge, skills and abilities in the field of computers, software, and information and communications, so that any employee masters the essential requirements to successfully perform tasks. During the study program he wrote several scientific papers presented at international conferences, some of which were published in professional journals. Since 2007, he has been working as Marketing Manager for a Consulting Firm in Occupational Safety and Health. He is a Risk Assessor and Auditor in Occupational Safety and Health, as well as a Professional Qualification Trainer.

Adriana Scrioşteanu is an Associate Professor at the Department of Management, Marketing, Business Administration, Faculty of Economics and Business Administration within the University of Craiova, Romania. In 2003 she obtained PhD degree in Management, within Faculty of Economics, University of Craiova, Romania. Since 1990 she teaches disciplines, such as logistics, tourism economics, supply chain management, and customer relationship management. She has collaborated, as a Member, in national and international research projects within the university. In her university career she carried out various internships at national and international level.

Navneet Seth is presently serving as an Assistant Professor at Baba Hira Singh Bhattal Institute of Engineering and Technology, Punjab. He has completed his MBA in Marketing and International Business from Punjabi University, Patiala (Punjab) in 2008 and completed his Doctorate in Pholosophy in Management with special reference to the rural development policies of the Government of India titled Impact of MGNREGA on the rural population of Punjab: A comparative study of Sangrur and Mansa districts. He has more than 12 years of experience in teaching. He has also published a number of papers and articles in reputed journals and also participated in various international conferences.

Nicoleta Sîrghi is a Professor, PhD Habil., of Economics at the West University of Timisoara (Romania), Faculty of Economics and Business Administration. The current research field is related to study of the oligopolistic market and the game theory with applications in Economics. She has published in the International Journal of Bifurcation and Chaos, Sustainability, Transformations in Business and Economics, Journal of Economic Computation and Economic Cybernetics Studies and Research, etc. Recent publications include articles on corporate social responsibility. She is a Member of the Editorial Board of Timisoara Journal of Economics and Business and Reviewer for many international journals and conferences. She is a Member of the Scientific Council of the ERECO-PGV Network and Member of the Professional Economics Associations: Regional Science Association International and International Association of French Speaking Economists and ERECO-PGV network.

Cătălina Sitnikov is a PhD Professor at the University of Craiova in Romania, at the Faculty of Economics and Business Administration. She holds a doctorate in Management since 2000, Habilitation title in Management since 2014 and since February 2015 she has been a PhD supervisor in Management. She was for three years a Visiting Lecturer at Helsinki University of Technology, Lahti Center in Finland. Since 1995, she has been teaching undergraduate, master, and PhD students. She teaches Quality Management, Total Quality Management and Management. Her main research areas include management, strategic management, and mostly quality management, instruments and models specific to the stages of quality planning, control and improvement, quality management strategies, ISO standards, and CSR from the perspective of specific standards and instruments.

Kiran Sood is an Associate Professor in (Chitkara Business School) Chitkara University, Punjab has received her undergraduate and postgraduate degrees in commerce from Panjab University, respectively, in the years 2002 and 2004. She earned her Master of Philosophy degree in 2008 and Doctor of Philosophy in Commerce with a concentration on Product Portfolio Performance of General Insurance companies in India in 2017 from Panjabi University, Patiala. Before joining Chitkara University in the month of July 2019, she has served four organisations with a total experience of 16 years. She has published various articles in various journals and also presented papers in various international conferences.

Dr Tjaša Štrukelj is an Associate Professor of Governance and Strategic Management at the University of Maribor, Faculty of Economics and Business (EPF), Department of Strategic Management and Company Policy, Institute for Corporate Governance and Strategic Management. She is an (co) Author of articles in various (inter) national journals, monographs, and conferences (http://www.cobiss.si/, 16338). She was (2015–2018; 2016–2017; and 2018–2019) and is (2019–2021) a Member of the international research team, leads the Faculty part of Erasmus+ project Economic of Sustainability (2019–2022) and Bilateral International Research Project (2019–2021), actively participates in the research program Entrepreneurship for Innovative Society (2016–), is a Member of the Program Committee of the journals Oeconomica Jadertina, Croatia (2017–), Journal of Research and Innovation for Sustainable Society, Romania (2019), Acta Economica, Bosnia and Herzegovina (2020–), and is a Certified Leader for Social Responsibility and Sustainable Development (2019–) and Path to integrity (P2I) Community Leader for Slovenia (2020–).

Delia-Ioana Teodorescu graduated from the Faculty of Economics and Business Administration at the West University of Timişoara, following the bachelor’s program ‘Finance and Banking’ and the master’s degree in ‘Finance and Corporate Financial Strategies’. Her current research is focussed on public policies, governance efficiency, entrepreneurship, and also their effect on the development of the economy.

Ioana Vădăsan is an Associate Professor, PhD, in Economics at the West University of Timisoara (Romania), Faculty of Economics and Business Administration. She has been a Faculty Member since 1999. Since 2012, she is a Visiting Professor at University of Côte d’Azur, France at Thang Long University, Vietnam. Her research interests lie in the area of European economics and integration, ranging from theory to practical aspects. She is the Author and Co-author of several books and articles. She is a Member of the Editorial Board of Timisoara Journal of Economics and Business and reviewer for several international journals.

Luan Vardari is an Assistant Professor of Finance in the Faculty of Economics at ‘Universum’ College and Prizren ‘UKSHIN HOTI’ University. He received his master’s degree (MA) in the field of Finance (Balkan Countries Stock Markets) in 2012 from Trakya University and completed PhD in Business Administration at Trakya University in 2019. He teaches finance courses at graduate and undergraduate levels. His research interests include financial markets and institutions, portfolio optimisations and international finance. He is the Founder and Editor-in-Chief of Prizren Social Science Journal. He is also an Editor in book chapters and articles in national and international journals.

Sorana Vătavu is a Lecturer, PhD within the Finance Department at the Faculty of Economics and Business Administration from the West University of Timisoara. Her research addresses aspects related to public policies and corporate finance, with interdisciplinary research directions that focus on the performance of the business and public sector, wellbeing, sustainability, and economic growth. Her research in these fields has been published in books and many papers indexed in Web of Science, SSCI academic journals.

Dr Nitin Simha Vihari is currently working as an Assistant Professor at BITS Pilani, Dubai Campus and an Alumnus of IIT Roorkee and NIT Trichy. His teaching and research interests are human resource management, organisational studies, corporate sustainability, and campus sustainability. He has been a resource person of Management Development Programs for middle level managers and organised Faculty Development Programmes in UAE. He has published various research papers in the Indexed International Journals and also presented his research work at many international conferences. He is also a Member of British Academy of Management.

Bilge Villi was born in Mersin. She was graduated from the Business Administration Department, Anadolu University in 2010. She completed her master’s degree in Production Management and Marketing, Dumlupınar University in 2012, and her PhD degree in Business administration at Balıkesir University in 2019. She currently works at the Department of Business Administration (Sindirgi School of Advanced Vocational Studies), Balıkesir university. She teaches a wide range of topics relating to tourism, hospitality, and marketing. Her research interests include consumer behaviour, service failures, and recovery in tourism and hospitality services.

Daniel Zdolšek is a Senior Lecturer of Accounting and Auditing at the University of Maribor, Slovenia, Faculty of Economics and Business. His research mostly focusses on the field of auditing, internal auditing, accounting, taxation, and also interdisciplinary topics. Recently, he started to research sustainability issues in relation to non-financial reporting and standard setting. He has published in journals Economic Research-Ekonomska Istraživanja, Journal of East European Management Studies, Actual Problems of Economics, etc. He has professional experience and serves as a Member of the Experts Council at the Slovenian Institute of Auditors, Member of the Board at the Chapter of Forensic Accountants at the Association of Accountants, Treasurers and Auditors of Slovenia. Previously he was Member of the Internal Auditors Committee at the Slovenian Institute of Auditors. He cooperates with the Slovenian Institute of Auditors and trains prospective experts in the field of internal control and auditing.