"Scientific research" Almanac

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  OPPORTUNITIES FOR INCREASING THE ABSORPTION OF EU FUNDS THROUGH IMPROVING ACCOUNTING AND INTERNAL CONTROL

  To best protect the national and European interests in the process of funds absorption requires complying with certain criteria such as legality, efficiency and economy. Applying them requires good functioning of the accounting systems and timely internal control on the administration of EU funds and programmes. The processes of absorption of EU ... To best protect the national and European interests in the process of funds absorption requires complying with certain criteria such as legality, efficiency and economy. Applying them requires good functioning of the accounting systems and timely internal control on the administration of EU funds and programmes. The processes of absorption of EU funds throughout the Union are accompanied by attempts of fraud and abuse. Bulgaria is the only country in which no one has been convicted for illegal actions with European funds so far. This omission is not due to lack of offenders but to the imperfection of accounting and control systems. They do not function effectively, and therefore are unable to identify infringements or provide convincing evidence for them. Internal audit is part of the system of public internal financial control established by the executive authorities. Its purpose is to confirm that the spending of national and European public finances is carried out in accordance with the legislation of the Republic of Bulgaria and the Directives of the EU Council. It must ensure the protection of public property, the proper preparation and correctness of financial documents and the accounting policy applied.

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  METHODOLOGY FOR DEVELOPING A REGIONAL MARKETING PROFILE OF THE PERIPHERAL DISTRICTS IN NORTH-EASTERN DANUBIAN REGION

  The study discusses marketing approach as a kind of catalyst for regional development, since it focuses on the relation between regional competitive advantages and interests, preferences and needs of the target markets for the region. The main objective of the study is to present the characteristics of the regional marketing profile of the ... The study discusses marketing approach as a kind of catalyst for regional development, since it focuses on the relation between regional competitive advantages and interests, preferences and needs of the target markets for the region. The main objective of the study is to present the characteristics of the regional marketing profile of the peripheral municipalities as an innovative approach in local government through which to promote the attraction of exogenous and endogenous entrepreneurial and investment interest. The main research thesis is that the development of a regional marketing profile is an innovative practice which will support local economic development by encouraging the process of attracting foreign direct investment and increasing local entrepreneurial interest; all of these will contribute to a stronger involvement of local stakeholders towards endogenous development and will increase regional competitiveness. The results are: the study specifies the measures for the implementation of marketing approach in the practice of regional development in our country, focusing on the ‘local comparative advantages – preferences, interests and needs of the regional target markets’ relation. The development of regional marketing profile is directed to satisfying the information needs of local and foreign entrepreneurs and investors and to positioning a territorial unit in their minds as a desirable location for doing business.

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  THE HYPOTHESIS ABOUT ACCESSION TO THE EUROPEAN BANKING UNION – OPPORTUNITIES AND DANGERS FOR BULGARIA

  The idea of creating a European Banking Union occurs in times of crisis after identifying some gaps in the activities of the existing establishments and institutions and their inability to ensure the smooth functioning of the banking sector in the European Union and in the Eurozone in particular. Over the last three years (2012 – 2015), a number ... The idea of creating a European Banking Union occurs in times of crisis after identifying some gaps in the activities of the existing establishments and institutions and their inability to ensure the smooth functioning of the banking sector in the European Union and in the Eurozone in particular. Over the last three years (2012 – 2015), a number of measures for the institutionalization of the European Banking Union have been taken. These measures have led to contradictory views and have raised a number of questions regarding opportunities and dangers of its application. The subject is topical so the study tries to clarify the need for the existence of the European Banking Union and revises the mechanism of functioning of the European Banking Union through its three pillars. In this context, controversial issues in terms of the practical applicability of the ideas underlying the European Banking Union are outlined, potential positive and negative results in case Bulgaria decides to join the Union are also clarified, and a recommendation on the issue is formulated. The thesis that is defended in the study is as follows: ‘centralization of the regulatory framework of bank supervision, crisis and post-crisis management through the European Banking Union is an objective necessity in order to ensure the smooth functioning of the EU banking sector.’ As a result of its defense, the identified gaps in the national legislation after the global economic crisis and taking into account the loss of institutional trust, including in the banking sector, undertaking timely steps for Bulgaria’s accession to the European Banking Union is regarded as a positive aspect to the banking sector and the national economy.