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«ISSN 1582 – 5949 Universitas Publishing House Petroşani - Romania ANNALS OF THE UNIVERSITY OF PETROŞANI ∼ ...»

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ISSN 1582 – 5949


Universitas Publishing House

Petroşani - Romania





From 2009 the journal is classified in the B+ Category (code 23) by the

National Council of Scientific Research of Higher Education from

Romania (CNCSIS).


Prof. Eng. Ioan-Lucian BOLUNDUŢ Ph.D., e-mail: ibol@upet.ro


• Prof. Eng. Ec. Ioan ABRUDAN • Assoc. Prof. Valentina • Prof. Natalia PASHKEVICH Ph.D. Technical University of Ph.D. St. Petersburg State FETINIUC Ph.D. Institute of Cluj-Napoca, Romania Mining Institute, Russia Economy, Finance and

• Prof. Eng. Ec. Ionel BARBU • Assoc. Prof. Francesco Statistics, Republic of Moldova

• Prof. Jaime GIL ALUJA Ph.D. „Aurel Vlaicu” University PASTORE Ph.D. Second of Arad, Romania Ph.D. Royal Academy of University of Napoli, Italy

• Prof. Mircea BARON Ph.D. • Prof. Marina PESHKOVA Economics and Finance, Barcelona, Spain University of Petroşani, Romania Ph.D. Mine University of

• Assoc. Prof. Ec. Janusz

• Prof. Ec. Constantin BÂGU Moscow, Russia

• Assoc. Prof. Ec. Ilie GRABARA Ph.D.

Ph.D. Academy of Economic Czestochowa University of Studies, Bucharest, Romania RĂSCOLEAN Ph.D. University Technology, Poland

• Prof. Ec. Sorin BRICIU Ph.D. of Petroşani, Romania

• Prof. Ec. Constanţa IACOB • Prof. Oleksandr „1 Decembrie 1918” University of Ph.D. University of Craiova, ROMANOVSKIY Ph.D.

Alba-Iulia, Romania Romania

• Prof. Ec. Anişoara CAPOTĂ National Technical University

• Prof. Mihaela KELE

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Editorial office address: University of Petroşani, 20 University Street, Petroşani, 332006, Romania, Phone: (40)254/542.580, 542.581, E-mail: imola.driga@gmail.com Annals of the University of Petroşani, Economics, 9(4), 2009 3

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Ivan, O.R. - European Standardization of Audit 5 Kaur, G.; Ghuman, R.S. - Infrastructural Development in India: Pre and Post- 15 Reform Inter-State Disparities Kelemen, M.; Bunzel, D.; Willis, P. - Why Work? A Culturally Informed Critique of 27 Past and Present Shop Floor Interpretations of Work Măcriş, M.; Stanciu, A.P. - Economic Lacks of Balance and the Policies of 37 Adjusting to the Shocks of Aggregated Demand and Offer Mangra, G.I.; Mangra, M.G.; Stanciu, M. - Romanian’s Sport - From the 43 Spontaneous Actions to the Scientific Management Mangra, M.G.; Stanciu, M.; Sîrbu, M. - Factors which Generate the Peculiarities of 49 the Management in Insurances Mangu, S.I. - The Potential Value of a Mining Property 55 Meghişan, Ghe.; Meghişan, G.M. - Analysis of the Emerging Demand of 63 Telecommunication Services Michelberger, P.; Lábodi, Cs. - Development of Information Security Management 69 System at the Members of Supply Chain Mitrache, M.; Ciorbagiu-Naon, R. - Approaches on the Particularities of the 79 Motivational Dominants and Professional Performances within the Private Organizations Nahlik, G.; Németh, E.; Dániel, Z.A.; Lábodi, Cs.; Gyurik, P. - Developmental 87 Directions of the Clusters in Hungary Nenciu, D.S.; Secară, M. - Usage of Direct Marketing Research in Establishing the 99 Attractiveness of Mamaia Resort amongst Tourists Niedziółka, A.; Brzozowska, A. - Aspects of Agritourism Management in 105 Malopolska Voivodeship Niţă, D.; Drigă, I. - Prospects of Coal Exploitation against the Liberalization of 113 European Gas and Electricity Markets Omar, I.; Ismail, M. - The Economic of Land Acquisition - Using Kotaka’s Model 121 in Land Acquisition to Provide Land for Infrastructure Development in Malaysia Petrini, M. - Distributed Databases Management Using Replication Method 135 Pîrvu, D.; Avrămescu, T. - Common Consolidated Tax Base System: Difficulties in 141 Determining a Distribution Formula for the Common Consolidated Tax Base Ploscaru, C.; Budică, B. - The Building Industry - A Flourishing Sector of the 149 National Economy Poteraj, J. - The French Pension System 155 Puiu, S. - The Effects of the Economic and Financial Crisis: Study Case 165 Rădulescu, M. - Credit Policy and the Management of the Banking System in the EU 173 Countries during the Financial Crisis Răscolean, I.; Isac, C.; Szabo, R. - Financial Analysis Based on Intermediate 193 Management Balances Răvaş, D.B. - The Dynamic Character of the Performance in the Tourism Activity 201 4 Annals of the University of Petroşani, Economics, 9(4), 2009 Sav, S.M. - About Securing Economical Application on our System by Protecting our 205 Computer from Intruders Schmidt, M.C. - The Perception of Jiu Valley Population Regarding the Socio- 215 Economic Rebound of the Area Secară, M.; Nenciu, D.S. - Statistic Poll - Instrument of Study of Balneary Tourism 223 on Romanian Seaside Sîrbu, M.; Doinea, O.; Mangra, M.G. - Knowledge Based Economy - The Basis for 227 Insuring a Sustainable Development Ślusarczyk, B. - Consolidation in World Steel Industry - Implications for Poland 233 Slusariuc, G.C.; Măcriş, M. - The Impact of the New Basel Accord on the Supply of 241 Capital to Emerging Market Economies Stanciu, A.P.; Măcriş, M. - Aspects on Opportunities to Reduce Public Expenditure 245 Stănculescu, A.; Brezeanu, P. - Testing the Leverage Effect for the Companies 249 Listed on the Capital Market Ştefănescu, R.; Nistor, C.; Dumitriu, R. - Asymmetric Responses of CAPM - Beta 257 to the Bull and Bear Markets on the Bucharest Stock Exchange Szasz, M. - Economic and Financial Attributions of Local Administrative Authorities 263 Tănăsoiu, G.L; Bălăcescu, A. - Political Factors Interference in Companies’ 267 Economic Space Tandon, S.; Shome, S. - The Cracks in the BRICS 273 Taulea (Samara), S. - The Consequences of Accounting Standardization and 283 Harmonization over the Concept of Financial Position Todoruţ, A.V.; Circus, D.; Niculescu, G. - The Relation Among Six Sigma and 289 Other Managerial Techniques of Improving the Performances of the Organizations Troancă, D. - Ways of Settlement in International Tourism 297 Văduva, C.E. - Investments, an Economic Growth Factor 301 Vătuiu, T.; Ţarcă, N.; Popeangă, V; Popeangă, V.N. - The Benefits of Utilisation 305 Computer System for Monitoring the Movements of Excise (EMCS) Vînătoru, S.S.; Domnişoru, S.; Giurescu, D. - The New Architecture for Auditing 313 Standards Vînătoru, S.S.; Calotă, G. - Non-Audit Service Fees, Auditor Characteristics and 321 Earnings Restatements Zaharia, A.M.; Lolescu, R. - Globalization of English as a Corporate Language 329 Zamfir, P.B. - Reflections on the EU CCT Application to Import of Goods in 335 Romania Pîrvu, C.; Mehedinţu, A. - Models of Costs Optimization Implemented by 341 Spreadsheets Systems Annals of the University of Petroşani, Economics, 9(4), 2009, 5-14 5

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ABSTRAT: The article reviews the evolution of external audit in some European countries and considers how this is likely to affect auditing in the future. The analysis shows how the European Commission has recently concentrated its harmonization focus on the consolidated accounts of listed companies and the use of International Accounting Standards. It is probable that this trend will continue and in the short term will cause changes in the arrangements for external overview of the audit and in national auditor rules.

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1. INTRODUCTION The utility of a scientific research resides in the necessity of giving answers to some current, very concrete, questions that may contribute to a better understanding of the phenomenon. The present paper, proposes itself to demarcate the most important concepts in the field of financial audit, contributing to the organic and functional analysis of the auditing process with its most significant elements, techniques and work tools. At the beginning of this research materialized in this study, the knowledge of different types of research allowed us to approach both the theoretical and methodological aspects in the most suitable manner. We have used mostly a descriptive type of research, objectively portraying the social phenomena in the attempt of formulating some hypotheses, or in judging the existing ones as suitable or not suitable for a certain social context. As for the practical study we have chosen an explicative type of research, having as a purpose the putting to value of the relationships between the phenomena: the way certain parameters (e.g. turnover, total assets, the number of employees), influences the auditor mandate. In the explicative part we notice the appearance of the possibility of making predictions.

In the whole extent of the study we did not use the application of the two approaches as extreme typologies of a sociologic research; in fact we might say that ∗ Assist.Prof., Ph.D., “1 Decembrie 1918” University of Alba Iulia, Romania, ivanralu@yahoo.com 6 Ivan, O.R.

both parts of the research contain, to a certain extent, descriptive elements. The explicative part contains a description of the situation while the descriptive part withholds explicative elements through the classification it introduces. For the first part we consider that the research has a descriptive tone, with an evident qualitative character, but still holding quantitative elements, while in the last chapter the research is clearly explicative and with a strong quantitative character but holding qualitative elements. Kuhn’s [4] series of paradigms (1970, 85) regarding the differences between the qualitative and quantitative types of research can be easily approached permitting to underline the difficulties in the strictly delimiting of the research periods: the qualitative research is subjective while the quantitative one is objective; the qualitative approach attempts a detailed description, while the quantitative approach searches for laws that could explain the phenomenon; the qualitative study is an exploration of that which seems to be a dynamic reality, while the quantitative study, that what seems to be a statistical reality in the purpose of developing universal laws.

In this final moment of the scientific road we have undertaken for the present paper we cannot afford to give a generally valid classification to the type of research we used, because we are unable to portray a unique characterization. And it seems that this is not a dilemma that concerns only our research. The nowadays problem is that many authors face the same difficulty in circumscribing their works to a single well determined method of research, most of the recent literature in the field allowing and even promoting an interdependence of the different types of research, shifting and mixing in accordance with the needs required by the element taken under observation.

In the context of overall scientific knowledge, accounting, and by this implicitly the audit, together with the finances finds itself included in the sphere of administrative sciences. It is considered to be the most exact of all the social sciences.

Its collocation derives both from the practical role accounting, audit have and from the ways of tackling with the audit problems of the great American business schools (e.g.

Stanford, Harvard, Massachusetts Institute of Technologies, Cornell, Wharton) and of some of the countries of Western Europe, especially France, The United Kingdom, Germany. The above mentioned motivate the opinion according to which the relationship between accounting, audit, finances and psychology is implicit because they all find their object of research in the study of the human behaviour. The investigation of the psychological variables in the financial – accounting domain highlights a certain attention to the analysis of each component that might create the possibility of obtaining a clear and correct image of a determined studied field. The present scientific investigation modestly subscribes to the attempts for formulating conclusions: first of all, to the auditors’ mandate and their attitude in respecting the standards, by studying an audit quality report.


Firstly we attempt to outline objectively the social phenomena which brought about the advent of the financial audit phenomenon and, given the circumstances, the methodology of study employed by me is specific to descriptive research with elements of explanatory research by delineating some new classifications. Concerning the European Standardization of Audit 7 evolution in time of the audit process I thought it would be appropriate to make a demarcation on three time segments.

The first segment covers the period from The Ancient Times up to the 18th century. We may say that during this time range, there were only incipient forms of financial audit as it was not delimited yet from the accounting and control activities and the individual carrying out this activity would be generically called the accountant.

The works required were mainly meant to prevent frauds or to discover these frauds and punish the thieves. The main beneficiaries of these works were various kings and emperors, the church and the state, and the accountants had a certain social status in that respective epoch as they generally were priests or specialists in the field who were acknowledged as having high moral standards.

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