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This study aims to investigate the factors associated with the implementation of risk-based internal audit (RBIA).

As a first step, a literature review of the relevant literature is performed and five potential factors related to the implementation of RBIA are identified. Based on that, this paper constructs a questionnaire survey sent out to 185 internal auditors, executives and accountants in Greece to receive 90 responses during the period of November 2019–January 2020. Multiple regression analysis is conducted to identify the factors related to the implementation of RBIA.

This paper shows that there is a statistically significant positive relationship between the implementation of RBIA and: the provision of risk management training, an active audit committee role and the establishment of a formalized risk management system.

The results have important implications for internal auditors, chief executive officers and accountants who wish to enhance internal audit effectiveness and the accuracy and quality of financial information.

Empirical studies on the factors related to the implementation of RBIA are rare. This is the first study to create empirical variables based on a thorough review of the relevant literature to empirically investigate the factors that are related to the implementation of RBIA in an emerging economy. By focusing on the Greek context, this study also sheds light to other countries with similar corporate governance systems, thus providing insights to settings where the Type II agency problem exists (La Porta et al., 1999).

Governments count on tax revenues in order to finance their fiscal and social activities. The purpose of this paper is to analyse the citizens’ conception of tax compliance and examine the factors affecting tax behaviour.

This survey was conducted through a stratified sample and questionnaires consisted of closed-ended questions. A linear regression and a series of reliability tests including an analysis of variance were conducted with IBM Statistical Package for Social Sciences.

The majority of the respondents demonstrate a positive perspective towards tax compliance and tax administration employees that inspire it. However, while the fairness of the tax system is evident, findings indicate a deeper issue of social and behavioural influences, including the characteristics of tax administrative employees and tax morality.

The findings are subject to over- or sub-representation, since the sample derived from groups whose occupations feature strong tax compliance. The study was conducted in Greece, and it is possible that the results can be generalised to developing countries with similar economic environments and fiscal circumstances.

Non-economic factors affect tax behaviour and the formation of modern tax strategies. This survey enables governments to improve tax compliance rates and increase tax revenues. Fiscal depression tends to decrease state revenues. Tax compliance factors should be taken into account through tax decision-making processes and ensure efficient tax collection.

This paper furthers the existent literature and deepens in non-economic factors of morality, revealing tax behaviours instigated by reasons beyond tax unfairness.

The aim of this study is to examine continuous auditing in the digital age from the perspective of audit firm employees. It also investigates contemporary factors affecting continuous auditing, as well as the techniques that could be utilised for its implementation.

Internal audit departments of private companies were contacted via email and given a questionnaire developed based on the extant literature. The sample consisted of 105 individuals employed in the largest audit institutions in Greece. Data were analysed using multiple regression.

As expected, technological advances are indispensable for the establishment of an effective digital auditing system. The impact of data protection measures against cyber-attacks as well as employees' skills and training were found to be significant. Particular attention should be given to the preparation and building of virtual auditing teams.

The fact that the digital era is still nascent with its final outcomes not yet visible makes it difficult to produce accurate predictions and draw conclusions. Further, there is a need to survey salient stakeholders in other country contexts beyond Greece pursuant of producing generalisable results.

The actions taken by companies to ensure cyber security and the formation of virtual teams were found to be highly significant for the implementation of a real-time auditing process. Traditionally, factors such as cost and time play an important role in optimising internal continuous auditing. Technological advancements combined with careful, strategic and case-specific implementation have the potential to enhance the efficacy of older methods.

The positive propensity of staff to adopt technology and modern techniques illustrates how implementation difficulties can be overcome through the redefinition and scheduling of an organisation's objectives and training of its personnel.

Audit firm employees highlighted the protection of personal data, the avoidance of cyber-attacks and training as major continuous internal auditing goals. The results indicate acceptance towards technology and modern techniques, provided companies ensure adequate preparation and staff training conditions.

The purpose of this study is to examine types of fraud risk and fraud scheme methods in Greek commercial banks.

Data used for this study were obtained from primary source through questionnaires. This method of data collection was followed and was considered appropriate because the information sought is not publicly available and middle management and internal auditors are in a good position to know the answers to the questions asked. Questionnaires were sent to a sample of 230 persons, all bank branch employees (internal auditors were excluded), in the city of Athens (capital city of Greece), in five banks, National Bank of Greece, Piraeus Bank, Alpha Bank, Eurobank and Postal Bank, during February 2017-March 2017. Finally, of the 230 questionnaires distributed, 225 completed and returned but only 203 of them were usable questionnaires. Cronbach’s alpha was used to test the reliability of variables.

Results showed that forgeries, bribery and money laundering are the most important types of fraud risk, and the best fraud scheme methods are using dormant accounts and checks. Based on the empirical findings, the study recommends that there is a need for banks to implement a code of conduct and a code of ethics for staff, staff training, signature verification, control over dormant accounts, asking employees about their opinions and the way they feel about their bank, conducting surprise audits and using a hot line for whistleblowing.

The study will help banks in fraud risk management and in the development of policies to reduce risk within the banking sector. Also, will be useful to all categories of potential bank clients and users of financial services including shareholders, creditors, debtors and fund providers.

To the best of the authors’ knowledge, this is the first study examining middle management and staff opinions about fraud risk and fraud scheme methods in Greek commercial banks.

This paper aims to examine the quality of relations within upper-level management in Greek public hospitals (GPHs), as well as to specify the extent to which these facilitate or hinder the forthcoming International Public Sector Accounting Standards (IPSAS) adoption and implementation.

A survey was conducted on a sample of 143 upper-management professionals drawn from across the 125 GPHs. A multivariate structural equation model (SEM) is used to investigate the degree of interdependence of the level of convenience of implementation under the view of the leader-member exchange (LMX) scale.

The findings suggest that the established leader-member relations in the GPHs facilitate reforms. However, these relationships are of little benefit to IPSAS adoption and implementation mainly due to the low degrees of competence and commitment to IPSAS. The passive adoption of IPSAS is the most likely outcome.

The study recontextualizes the LMX model to public sector research. The findings have value to hospital leadership and to policymakers, as well as to researchers studying the difficulties of IPSAS adoption and implementation.

The purpose of this paper is to explore how the delivery of an accounting information system (AIS) course affects the perceptions of accounting and non-accounting students, and whether these differences are important enough to suggest the separate the delivery of this course.

A questionnaire was distributed during the last teaching weeks of the AIS course in a Cypriot University. A comparative analysis between the two study groups, i.e. accounting and non-accounting students, followed.

The findings suggest that the successful delivery of the course reinforces the positive perceptions of the accounting group, and increases the interests and the positive perceptions of the non-accountants.

Following the development of the enterprise resource planning and the hybridization of the accountants’ role, non-accountants are increasingly engaged in practices traditionally performed by financial or management accountants. That market development may motivate business schools to offer AIS courses to non-accounting students. This study addresses this unexplored topic.

In this paper, the authors review the extant literature on e-learning effectiveness in higher education (HE) to investigate how teachers are affected by the actions that the management of higher education institutions (HEIs) need to take to address the success factors that are critical for e-learning effectiveness. E-learning, in the context of this study, encompasses the delivery of and access to a coordinated collection of learning materials and instructions over an electronic medium using a web server to provide the materials and a web browser to access them.

To address the study's aims the authors employ a narrative literature review methodology. Since the area under review is comprehensive and it entails the examination of several topics, the authors have selected this methodology to ensure thorough coverage, and a narrative literature review approach can provide the required degree of thoroughness as it covers a wide range of topics within the thematic area under review. The authors focus on contemporary scientific studies published between January 2017 and May 2022 on how teachers involved in e-learning are affected by management actions taken to achieve success factors for e-learning effectiveness within the HE sector, after identifying and grouping the success factors identified in prior literature into dimensions that reinforce effectiveness.

The authors of the present study have identified and outlined the most prevalent success factor dimensions by performing a narrative review of the extant literature on the topics of e-learning effectiveness and success factors, and by grouping the various success factors identified into the overarching dimensions presented. These dimensions must also be examined in terms of their relevant importance to the most significant e-learning stakeholder groups. Prior studies have made attempts to obtain relevant stakeholder views on success factors for e-learning, with the student perspective naturally being the most widely covered point of view in terms of e-learning success factors prioritization. More studies are needed that tackle the teachers' perspective as well, since this would enable researchers to determine how teachers view e-learning effectiveness success factors.

The authors also discover that the main success factors in literature are not discussed nearly enough from teachers' perspectives. The authors, therefore, highlight the importance of addressing teachers' perspectives, mainly because this will reinforce teacher acceptance of the e-learning system adopted by an HEI, and the authors also outline future research avenues through which the perception of teachers could be obtained. The authors have identified the technique of knowledge management as a potential method to involve teachers in the decision-making process concerning the management of e-learning more, by taking their views into account and documenting them. The authors have discerned that teachers' acceptance of e-learning would be reinforced by supportive management actions since as a result, teachers see improvements in their technological literacy and pedagogical skills, and this would bring about increased motivation, satisfaction and acceptance of e-learning systems.

Because of the education sector’s evolution, accounting initiatives are required regarding competitiveness. Activity-based costing’s (ABC) neglected potential as a cost strategic tool initiated this research, which aims to identify administrative and operational factors that support or hinder its implementation in educational institutions as a predictor of competitiveness.

A theoretical model was proposed and tested through structural equation modeling to identify relationships between accounting departments, cost procedures, the transmissibility of information and competitiveness. Using quantitative and qualitative methods, a scale of items was derived, denoting an institute’s cost strategy and ABC implementations and returned from 417 Greek education institutes.

An accounting department’s role in accurate data transmissibility and an institution’s organizational structure significantly affect cost-related competitiveness. The importance of information sharing is strengthened by current cost allocation capabilities and the accounting department’s influence on management.

ABC’s limited implementation in the Greek education sector complicated the theoretical model’s construction, as a variety of geographical and institutional factors were taken into consideration.

Customer value provides a competitive advantage and constitutes the basis of solid price strategies. Research demonstrates ABC’s importance for education institutions’ competitiveness and resource exploitation.

Education’s commercialization urges costing strategy prioritization. ABC could benefit competitiveness and attract long-term funds and investments. To create value institutions, the allocation of incurred costs to added-value activities is crucial.

This study sheds light on vague issues institutions face when dealing with ABC. Understanding accounting departments’ influence shows ABC’s feasibility even for smaller or less efficiency-oriented education institutions.

The purpose of this study is to empirically examine the efficiency of Greek fixed-odds (offline) betting market as offered by OPAP for the period 2016–2019.

Using a four-year data sample of OPAP's opening and closing odds for football matches from all over the world and applying linear probability and probit models, the market efficiency is examined and the existence of possible anomalies is investigated.

The main findings of research suggest that although the odds are dominated primarily by favorite-longshot bias and secondarily by draw bias, this mispricing cannot prove profitable. However, the opening odds, the margin levels and the market structure provide information that is not fully captured by the closing odds, giving bettors profit opportunities. Thus, findings show that the semi-strong market efficiency is questionable. Finally, competition reduces commissions leading to more efficient odds.

The conclusions of this study are useful for football betting market and, particularly, for government authorities, bookmakers and bettors. Findings can be extended in future research to prediction tasks.

To the best of the authors’ knowledge, this is the first study about the Greek football betting market. The contribution to the literature lies on the one hand in the examination of a monopolistic land-based betting market, which is being squeezed and threatened by the more competitive online betting market, and on the other hand in the simultaneous examination of the opening and closing odds.

This paper aims to look at the linkage of foreign direct investments (FDIs) and round-tripping in the Cyprus–Russia corridor.

The paper is divided into two chapters. The first chapter looks at the relationship between FDIs and round-tripping in Cyprus and Russia. The second chapter discusses and combines statistical data from different sources about illiciting financial flows from Russia and the linkage of FDIs and round-tripping with Cyprus.

Evidence suggests that, despite the obviously numerous and varied legislative provisions and initiatives, the movement of vast amounts of capital to or through the Cypriot financial system is a phenomenon, which has absolutely not been removed. The illegal outflow of money seems to grow rapidly over the years instead of decreasing. What actually happens is that after a dramatic decline in the years 2013-2015, the FDIs of the Russians to and from Cyprus in 2016 returned to pre-crisis levels of 2013, and so far, it seems the inflows–outflows system returned to “normal” levels. Cyprus ranks first in inward FDI and outward FDI with almost 35 per cent of total flows from Russia. An element that demonstrates the presence of round-tripping, is the sharp and rapid parallel increase of inward FDI and outward FDI, and that the category of total deposits in Cyprus by nonresidents, including special-purpose entity, recorded significant fluctuations caused by not only the large size of deposits but also the short time remaining in the banking sector. Russia ranked second among the countries with the largest average illegal capital outflows in the years 2004-2013. Movement of capital to exploit the particularly beneficial Cyprus tax system is still a tax backdoor for Europe and worldwide (hence the neologisms like Cyp-Rus), especially after the “de-offshorization” law in Russia in practice since January 1, 2015.

Evidence presented in this paper is important for national and supernational supervisory anti-money laundering bodies and compliance authorities to understand bad practices in financial transactions between Russia and Cyprus.