FEATURES OF ACCOUNTING AND AUDIT OF DEPOSIT OPERATIONS IN A COMMERCIAL BANK
Authors: Ovsiuk Nina ,   National Aviation University, Afanasieva Inna , Lebedieva Anastasiia ,   National Aviation University,   National Aviation University
Published: July 2024

Banks are an important component of the financial system of any country, as they help the development of the economy by saving the savings of the population and providing loans for business development or personal needs. The largest part of the bank’s monetary resources is occupied by borrowed funds. Because of this, the problem of increasing the number of deposits is always the most acute. Banks should accumulate free funds of depositors in order to invest them in the development of the economy in the future. At the same time, the resources involved are the basis for the development of credit activity, which gives the bank the greatest profit. The mutual benefit of deposit operations is that for the bank’s client, they are an opportunity to safely save savings and receive interest income; it is the simplest type of investment available to everyone. Therefore, deposit operations are an integral part of the activity of any bank. This article highlights the peculiarities of deposit operations in a commercial bank in modern conditions. The importance of conducting such operations for all participants in financial and credit relations, such as the state, the bank and ordinary citizens, has been proven. The definition of a commercial bank, deposits, loans is provided. The direct and indirect connection between credit and deposit operations is analyzed. The text of the article also considers the concept of banking services, especially lending and deposits, which are the main source of funds for banks. It also addresses the functions of deposit operations, including the acceptance of deposits, the provision of customer security, and the use of deposits for lending. In this publication, you can also familiarize yourself with the extended classification of deposit operations in a commercial bank. The text of the article considers the list of the main features of accounting in banks, emphasizing the specifics of operations, such as loans and deposits, which is significantly different from the accounting system of ordinary enterprises. The main features of the accounting of deposit operations include the registration of contributions and interest, control over the movement of funds, the formation of reserves and the preparation of financial statements. Also, banks are guided by their specific plan of accounting accounts. In this article, it is also possible to familiarize yourself with the list of some basic typical accounting transactions. Also, the text of the article considers the process of auditing deposit operations in the bank, which includes planning, gathering and analyzing information, evaluating internal control, performing special tests, analyzing risks, preparing a report and checking the main aspects, such as the correctness of deposit registration, compliance with internal procedures and compliance with legislation. The content and differences of internal and external audit have been clarified. This process helps ensure effective management and control in the bank, and also provides an objective assessment of financial statements. The importance of accounting and auditing of deposit operations in the context of financial decisions of a commercial bank is outlined. General conclusions are made.