FINANCIAL FRAUD RISK MANAGEMENT IN DAIRY COMPANIES IN SERBIA

Milan  Resimić; Snežana Knežević; Stefan  Milojević

doi:10.59267/ekoPolj2601233R

Authors

Milan Resimić University of Belgrade, Faculty of Organizational Sciences, Jove Ilića 154, 11000 Belgrade, Serbia https://orcid.org/0009-0002-3101-845X
Snežana Knežević University of Belgrade, Faculty of Organizational Sciences, Jove Ilića 154, 11000 Belgrade, Serbia https://orcid.org/0000-0001-9833-7274
Stefan Milojević EDUCONS University, Faculty of Business Economic, Vojvode Putnika 87, 21208, Sremska Kamenica, Serbia https://orcid.org/0000-0001-6240-6776

DOI:

https://doi.org/10.59267/ekoPolj2601233R

Keywords:

financial fraud, risk management, dairy companies, Serbia

Abstract

This paper examines the management of fraud risk indairy companies. The research was conducted on a randomsample of 110 respondents employed in companiesoperating within the dairy industry in the Republic ofSerbia, who hold key managerial positions (generalmanager or chief financial officer) or perform roles suchas internal auditor, risk controller, head of accounting,or similar positions. The Partial Least Squares StructuralEquation Modelling (PLS-SEM) method was appliedin the analysis. The findings indicate that awareness ofoperational fraud becomes a protective factor only whenit leads to the concrete improvement of control andpreventive mechanisms. The results contribute to a betterunderstanding of the necessity to strengthen managerialcapacities and the regulatory framework to enhancefinancial transparency and protect the integrity of the dairysector in Serbia.

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