Use of Beneish Model on Serbian Super League Football Clubs

The objective of financial reporting is primarily to protect the interests of investors and creditors by disclosing objective and fair information. The importance of financial reporting quality has increased significantly as a result of various accounting manipulations and numerous corporate scandals. Financial scandals stressed the limitation of the audit in the process of fraud detection, and hence the necessity of forensic accounting. The financial statements are the source of information used in the analysis of companies’ business performance. Research sample consists of 13 Super League sport clubs in the Republic of Serbia, and the aim is to check if they manipulate with their earnings. The results show that significant number of clubs disclose some misstatements in the financial reports.