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ITEP Higher School , Banja Luka , Bosnia and Herzegovina
The collage of academic studies “Dositej” , Belgrade , Serbia
University Business Academy in Novi Sad , Novi Sad , Serbia
Business management can be seen as an important source of improving decision-making in a company. This is especially important for financial management in terms of daily basis decisionmaking by the company top managers. Besides that, the top management should reconsider the introduction of control mechanisms in companies, because this way enables better management of the company. The goal of using business management as a part of the financial decision-making is more efficient business management that will lead to the maximization of financial and other effects of the company. That increases the company's ability to achieve better results on the market (domestic and international), increasing its value. Business management as an important factor of financial management of a company presents the need to establish management reporting in accordance with the principle of " fair reporting“. One of the ways of improving the overall management flows within a company is the process of establishing and implementing the audit process in the companies.
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