Considerations regarding the regulation, accounting and audit of bank deposits
Author:
Marioara AVRAM, Veronel AVRAM
JEL:
M41, M42, M 48
DOI:
10.20869/AUDITF/2016/139/781
Keywords:
Bank deposit, unregulated deposit, loan
contract – mutuum, fractional reserves.
Abstract:
Bank deposits have been known even since the
Antiquity. From the legal perspective, the bank deposit
was always covered with due care and received the
deserved attention, while regulations generally reflected
the current views, from the legal, economic, social,
cultural and religious perspectives. The new Civil Code,
applicable in Romania starting from October 1st 2011,
brings a new element within article 2191. The fund
deposit, a change that is situated against the millennial
regulations of the deposit contract, when it specifies that
“Subsequent to the constitution of a fund deposit at a
credit institution, it gains propriety over the deposited
amounts of money”. Even since the Antiquity, the
Roman jurists have caught the economic and judicial
nature of the unregulated deposit contracts that
emphasized the depository’s obligations. The religious
obscurantism of the Middle Ages did not allow the
differentiation between the deposit contract and the loan
contract as passive operations meant to attract the
financial resources of the bank. Nowadays, the
confusion still exists and fuels the financial instability.
Even since the emergence of accounting as a science,
the bank deposit has been seen as a financial asset for
the depositor and a debt for the banker. The accuracy of
the accounting information regarding the bank deposits
is validated and confirmed through the internal and/or
external auditing procedures.
Abstract(96KB)
Article(312KB)