10:00 am – 11:30 am – PLENARY SESSION, Amphitheatre 046

Prof. Zoran Petrović, PhD

Prof. Kosana Vićentijević, PhD

Prof. Lidija Barjaktarović, PhD
Prof. Milovan Stanišić, PhD, President of Singidunum University
Radoslav Sretenović, State Audit Institution, Republic of Serbia
Mira Vuković, Serbian Association of Internal Auditors
Miroslav Perić, Chamber of Authorized Auditors
Aleksandar Janjušević, Ministry of Finance, Republic of Serbia
Dr. Petar Dinić, Chiropractic Office “Život”
Branislav Lončar, Publicist World Wide
Dragan Vještica, Dr. Oetker
Klod Kolaro, Digital Transformation Consultant
11:30 am – 12:00 pm – SOCIALIZING AND NETWORKING
12:00 pm – 02:00 pm – PARALLEL SESSIONS
Session A (12:00pm-02:00pm): SCIENTIFIC AND STUDENT PAPERS, room 112



Prof. Nemanja Stanišić, PhD (ENG)

Original scientific and research papers are presented during the first part of the session. The working language of the session is English. The conditions for papers to be classified in this category were the following:

  • The statistical analysis of empirical data was performed in the paper;
  • The findings provided evident contribution to the given research field; and
  • The research findings and implications important for professional practice were pointed out.

Seven papers will be presented within the scientific session this year, covering the following thematic fields: the role and importance of impact investing (positive investing) in the Republic of Serbia, the relative importance of factors affecting banking operation models; a sectoral approach to analysis of mergers and acquisitions in the Republic of Serbia and Poland; impacts of greenhouse gas emissions with the case study from Montenegro; distribution costs analysis in Lower Silesia region (Poland); the analysis of influence of financial regulations to early-stage entrepreneurial activity on the global sample; and the evaluation of the Cornish Fisher value-at-risk model in the capital market in Croatia.

Stefanović, N., Stanišić, N., Barjaktarović, L., Makojević, N. – Impact Investing and Job Creation in the Contemporary Business Environment: Evidence from the Republic of Serbia
Beke-Trivunac, J.- Impact of Banking Group’s Management Policies and Country Environment on Bank’s Model of Operation
Luty, P. – The Analysis of Mergers and Acquisitions in Serbia and Poland in the period 2005-2014 – A Sectorial Approach
Lika, S. – Environmental Impact Assessment through Greenhouse Gas Accounting of Electricity Consumed by the Aluminum Plant Podgorica (KAP) for the period 2003-2015
Biernacki, M. – Cost of Physical Distribution as a Component of Customer Service Cost of Companies in the Lower Silesia Region
Avlijaš, G. – Influence of Financial Regulations on Early-Stage Enterprenuerial Activity
Terzić, I., Milojević, M., Miletić, D. – Evaluation of the Cornish–Fisher VaR Model in Capital Market in Croatia from 2005 to 2015



Prof. Tijana Radojević, PhD

As an integral part of the international scientific conference FINIZ, the student session is intended towards:

  • Supporting young scientists and researchers, especially PhD students of the study program Contemporary Business Decision Making, in accordance with the Singidunum University plan of promoting young scientists and researchers;
  • Providing master students with the opportunity to acquire necessary theoretical and practical knowledge and skills through conducting independent scientific research and writing scientific papers in the field of economic sciences;
  • Enabling bachelor students participating in the conference to enhance their academic writing and presentation skills;
  • Networking of young researchers – by participating at the conference, young researchers become “visible” to professional and academic circles active in similar fields; such networking can be an excellent basis for potential business and academic cooperation in the future.
Liović, D. – Outsourcing: Risk-taking Savings?
Bokić, M. – Audit Reports Analysis from the Aspect of Fixed Assets Evaluation as an important factor for building a successful business
Petronijević, D. – Parametric, Non-parametric and Hybrid Method of VaR Applied to BELEX 15 and Securities Return of Four Companies from the Belgrade Stock Exchange
Radević, Lj. – Tax implications of Payroll Calculation Methods for Budget Users
Lukić, K. – Cloud Accounting in the Republic of Croatia
Mijoković, M. – Fair Value Concept Applied for Property, Plant and Equipment Valuation in the Republic of Serbia
Dubovina, Đ. – Monetary Economics



Prof. Goranka Knežević, PhD

Bojan Radoš, Chamber of Authorized Auditors, VTB Bank

Scientific achievements in the fields of internal audit, financial reports analysis, financial information used in business decision-making, business reporting, risk management and controlling, activity-based costing system, will be presented at this session.

Simeunović, N., Knežević, G. – Internal Control as a Preventive Measure in Financial Reporting
Mitrović, A., Knežević, G. – Selected Activity Ratios in the Context of Accounting Treatment of Work in Progress Supplies
Stojanović, R. – Implications of Balance Sheet Treatment of Goodwill on the Reliability of Financial Statements
Dragojević, D., Krstajić, D., Dikić, S. – The Theory of Hard and Soft Financial Information
Milić, M. – Impact of Business Intelligence on Increasing Effectiveness and Quality of Work
Radović, N. – The Analysis of Profitability Indicators in Hotel Businesses
Stjepanović, S., Cita, M. – Correlations between Business Results and Liquidity Ratios of Croatian Food Business Companies
Radoš, B., Risk Management: Standards and Practices
Todorović – Dudić, A., Perović, V., Bojanić, R. – Proactive Risk Management – Controlling
Dobardžić, E., Dobardžić, A. – Activity-Based Costing System as an Important Factor in Enhancing Companies Profitability and Competitiveness
Nikčević, I. – FIDIC General Contract Terms and Conditions and Their Use on the Domestic Market



Prof. Miroljub Hadžić, PhD

The participants will learn about basic market risks that business entities face in their daily operations, as well as the risk protection techniques and instruments, with accounting treatment examples for companies.

Branko Srdanović, OTP Bank
Mirković, V., Dudić, Z., Dudić, B. – Shadow Banking as a Potential Factor of Financial System Instability
Milenković, N. – Discount for Non-negotiable Shares: Identification and Use
Jeremić, Z., Latas, T. – The Risks of Market Power Abuse on the Electricity Market
Miletić, D., Milojević, M., Terzić, I. – Agriculture in Serbia: Risk Exposure and Insurance Trends
Stanković, S. – The Role of Internal Audit in New Public Service Professions
Session C (12:00 pm- 02:00 pm): ACCOUNTING AND AUDITING, amphitheater 046

Prof. Zoran Petrović, PhD

Vladimir Poznanić, Vice-President of the Commission for examination, training and continuous professional education of authorized auditors, Chamber of Authorized Auditors

The Accounting and Auditing Session will host the following discussions:

  • Advantages and disadvantages of three accounting regulations in the Republic of Serbia (IFRS, IFRS for SMEs, and Rules for micro and other entities);
  • Keeping the practice of regulating mandatory chart of accounts or allowing business entities to create charts of accounts for their own use;
  • The role of accountants in the activities of the anti-money laundering system;
  • Archiving of accounting documents; and
  • New audit regulation, with particular reference to changed content and form of independent auditor’s reports.
Aleksandar Janjušević, Ministry of Finance, Republic of Serbia
Ksenija Ristić Kostić, Chamber of Authorized Auditors
Danijela Tanić Zafirović, Administration for the Prevention of Money Laundering, Republic of Serbia
Milan Negovanović, Economic Advisor
Dragan Brcan, ASKme Agency
Session D (02:00-04:00 pm): INTERNAL AUDIT, room 047

Prof. Kosana Vićentijević, PhD

Mira Vuković, Association of Internal Auditors of Serbia (Udruženje internih revizora Srbije – UIRS)

The lecturers at the session are experienced professionals and members of the UIRS. The members of UIRS participating at the session will be awarded five continuous education points – 5 CPE.

Jovanka Tomanović, CIA, KOR, Mira bank a.d. Belgrade
Mirjana Bogićević, CIA, CRMA, Energoprojekt Garant a.d.o. Belgrade
Mladen Kandić, CIA, Eurobank a.d. Belgrade
Nataša Šoškić, Raiffeiesn bank a.d. Belgrade
Session E (12:00pm- 02:00 pm): CORPORATE GOVERNANCE, room 004

Prof. Lidija Barjaktarović, PhD

Corporate governance refers to a defined system of structures and processes by which a company is managed and controlled. OECD corporate governance framework is based on four values: fairness, obligation, transparency and reliability. The potential benefits of good corporate governance include: improved operational efficiency, better access to capital markets, lower cost of capital, and better reputation for the company, its board members and management. An adequate organizational structure of the company, the proactive approach to human resources management, developed systems of internal control and financial management, will guarantee business operations compliance with set goals. Accordingly, some of the topics for the discussion are the following:

  • Corporate governance challenges in the European Union and current corporate governance problems in the Republic of Serbia;
  • Fundamental and practical differences in concepts of establishing corporate governance in organizations in Serbia (companies and financial institutions, established with majority foreign capital and majority domestic capital, and state institutions); The case of small and medium sized enterprises in Serbia;
  • New roles of a financial director (CFO), from Chief Financial Officer to Chief Future Officer; Digitalization of CFO function in a company.
Katarina Đulić, FEFA – Faculty of Economics, Finance and Administration
Miroslav Perić, KOR, KPMG
Zoran Daljević, Atlantic Group
Branislav Lončar, Publicist World Wide
Vladimir Pajević, Sber Bank a.d. Belgrade
Aleksandar Vasilski, Valor Group



Prof. Goran Kunjadić, PhD

Sanja Kekić, CRISC, President of ISACA Belgrade

The session Cybersecurity Business Risks will deal with the following topics:

  • ISACA response to cybersecurity problems;
  • Business impacts of cybersecurity risks;
  • PANEL: What do we need to ask companies’ managing boards in relation to cybersecurity?

The participants will exchange experiences and opinions during the panel discussion.

Branko Krsmanović, CISA, Vice President of ISACA Belgrade
Nebojša Cvijetić, CISA, CISM, Vice President of ISACA Belgrade
Milorad Jović, Marketing Director of ISACA Beograd
Dejan Abazović, Head of IT Sector, Central Bank of Montenegro
Pavle Knežević,IT Manager at Arriva Litas Doo
Branko Greganović, President of the Executive Board of NLB Bank



Nada Arežina, PhD

Dalibor Radovanović, PhD

Digital Transformation provides opportunities to create new business models that will enable employees to do their jobs more efficiently, but also to improve customer experience. The Digital Transformation session will cover the following topics:

  • The importance of business process automation
  • Online prospects for creating new business opportunities and solutions
  • The importance of business process automation for better insight into customer needs
  • Advantages and disadvantages of digitalization and document circulation control in companies
  • The impact of digitalization on efficiency of business operations control
Klod Kolaro, Digital Transformation Consultant
Milorad Đukanović, Data Lab
Novak Anđelić, Delhaize
Lidija Đorđević, ATOS
Nenad Radaković, Perihard
Session G ( 12.00 pm- 02:00 pm): CONTROLLING: Controlling in my company, room 016

Bojan Šćepanović, Management Center Belgrade (Menadžment Centar Beograd)

The participants will present controlling systems in their companies, analyze examples of positive practice and give a brief summary.

Branimir Spasić, Manager of Financial Control Department, SOCIETE GENERALE BANK
Dragana Stojanović, Head of MIS, budgeting and control department, MIRABANK
Dragan Vještica, Head of Controlling, DR. OETKER
Natalija Mihajlović, Head of Controlling, SIEMENS
Milan Šakotić, Chief Financial Officer, TRIZMA
Katarina Ćevriz, Head of Controlling, ASSECO SEE
Session H (12:00 pm-02:00 pm): ASSET VALUATION AND PUBLIC FINANCE REFORM, room 110



Vule Mizdraković, PhD

Asset valuation represents an integral part of a legal entity’s financial statement. The relevance of the balance sheet, as one of the most important financial reports, depends to a great extent on the accuracy of asset valuation. Bearing in mind that non-current assets, or real estate, usually represent the largest part of the total assets of a legal entity, a well-executed valuation process is of crucial importance. International Financial Reporting Standards (IFRS) recommend that asset valuation is performed by a professional independent valuer/appraiser, and the valuation results should be included in financial statements.

The problem that may arise when including the fair market value of the real estate, is the allocation of the appraised value to land, buildings and other improvements on the land. The risk of wrong allocation is high, and possible consequences can be various: misrepresented value of assets in the financial statements, incorrectly calculated depreciation and operating result, incorrectly calculated property tax, problems in determining the collateral, property insurance, and more.

Danijela Ilić, National Association of Valuers of Serbia
Vesna Stefanović, Vision Consulting
Snežana Radović, Business Information Center (Informativno poslovni centar – IPC)
Blaženka Hadrović Zekić, Faculty of Economics in Osijek



Director of RELOF (Local Finance Reform) project

The part of the session dealing with public finance reform will cover the following topics:

  • How to improve the quality of financial management and control in local self-governments and local public enterprises?
  • 10 steps towards improving financial management and control in local self-governments and local public administrations in the Republic of Serbia.
Sanja Kmezić, Karl Franzens University of Graz; EURAK
Daniel Pantić, SDPR Jugoimport
Snežana Batričević, Nikola Tesla Airport
Milena Milojević, the City of Belgrade
Internal Auditor, Užice Municipality
02:30 pm- 03:00 pm – CLOSING CEREMONY

Back to Top