The fair and reliable financial reporting of business entities is extremely important for strengthening the confidence among business entities, acting positively on the scope of business activities and achieved results. On the other
hand, individuals, businesses and the entire society, suffered huge losses, due
to the frauds in financial reports, by dropping the confidence in the accounting profession. The public’s expectations from the accounting profession are
that its professionals consciously reject participation in any fraud activities,
and be real fighters for the real financial reporting of the entities. In the light
of specified expectations, this paper tries to consider the ability of students
of economic specialization in Bosnia and Herzegovina in recognizing cases
of false financial reporting among different situations that can(not) include
fraud characteristics, and their readiness to take active participation in the
fight against frauds in business entities and economic crimes, in general.
The results of the research showed that research participants clearly recognize cases of false financial reporting among various fraudulent activities, that
they have a high level of awareness regarding the seriousness of the fraud
type and its negative consequences for entities, and that they express their
unreserved readiness to report these cases to the competent authorities with
the purpose of prosecution.
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