Vocabulary

Swedish National Audit Office Государственная ревизионная служба Швеции

To foster поощрять, благоприятствовать

Cash flow поток наличных средств

Public administration управление на государственном и местном уровнях

Appropriation ассигнование

Fee-financed на хозрасчете

INTOSAI Международная организация высших контрольных органов

EUROSAI Европейская организация высших контрольных органов

Fulfillment выполнение, исполнение, осуществление

Goal цель, задача

Commitment обязательство

In line with в согласии, в соответствии

Performance исполнение, выполнение

Contents содержание

Substantial существенный, заметный

Issue спорный вопрос, разногласие

To recruit вербовать, привлекать к участию

Exercise 17. Choose the correct explanation without using a glossary.

1. “to stimulate, to promote, to help to develop” is …

a) to complete

b) to foster

c) to conduct

2. “money, set aside for a specific use” is …

a) share

b) certificate

c) appropriation

3. “carrying out (of something desired, expected, predicted); performance; (completion) is …

a) fulfillment

b) assumption

c) responsibility

4. “an object or end that one strives to attain; aim” is …

a) a goal

b) an evidence

c) an advice

5. “a pledge or promise to do something” is …

a) decision

b) commitment

c) point of view

6. “ In agreement or conformity with” is …

a) in line with

b) all along the line

c) in the circumstances

7. “to enlist (new members) as for a party or organization” is …

a) to omit

b) to examine

c) to recruit

8. “all that is contained in something; everything inside; essential meaning, substance” is …

a) content

b) certificate

c) responsibility

9. “considerable, strong, large; real, actual” is …

a) succulent

b) substantial

c) efficient

10. “a point, matter or question to be disputed or decided” is …

a) an issue

b) an opinion

c) consequence

Exercise 18. Reread the article more carefully and complete the sentences given below using information from the article (ex.16):

1. The Swedish National Audit Office (SNAO) is _________________________

_____________________________________________________________ .

2. The main task of SNAO is ________________________________________

______________________________________________________________ .

3. The SNAO selects independently _______________________________

______________________________________________________________ .

4. All audits are carried out in accordance with ________________________

__________________________________________________________ .

5. The audits principally have control functions, but substantial efforts are also made to ensure that ______________________________________________

______________________________________________________________ .

6. The government and the parliament use the information of the SNAO as a basis for ___________________________________________________________

______________________________________________________________ .

7. Besides, the government often turns to the SNAO for comments on ___________________________________________________________________

______________________________________________________________ .

8. The staff are recruited on the basis of _____________________________

_____________________________________________________________ .

9. Central government appropriations finance some fifty per cent of the organization’s activity and the remaining activities are _________________________

____________________________________________________________ .

10. The SNAO is an active member of _______________________________

____________________________________________________________ .

Exercise 19. Single out the main facts of the article and present them in a short review.

LESSON 4

Exercise 1. Read the texts that follow. Describe the two main functions of auditing. Discuss how public accountants (auditors) and government auditors perform these functions. Explain the importance of internal auditing.

a)

Audit is an examination of the records and reports of an enterprise by accounting specialists other than those responsible for their preparation. Public auditing by independent accountants has acquired professional status and become increasingly common with the rise of large business units and the separation of ownership from control. The public accountant performs tests to determine whether the management’s statements were prepared in accordance with acceptable accounting principles and fairly present the firm’s financial position and operating results. Such independent evaluations of management reports are of interest to actual and prospective shareholders, bankers, suppliers, lessors, and government agencies. Generally speaking, auditing has two functions: to reveal undesirable practices and, as far as possible, to prevent their recurring in the future. A relatively new type of auditing is internal auditing. It is designed to evaluate the effectiveness of a business’s accounting system. Perhaps the most familiar type of auditing is the administrative audit, or pre-audit, in which individual vouchers, invoices or other documents are investigated for accuracy and proper authorization before they are paid or entered in the books.

In English-speaking countries, public auditors are usually certified, and high standards of professional qualifications are encouraged.

Most countries have specific agencies or departments charged with the auditing of their public accounts.

Taxpayers in all countries are interested in the sound management of the collected revenue, they also want to know whether or not the executive branch of government is complying with the law, especially in the area of public finance.

Government auditors are working for sound, economical and efficient financial management, addressing the key problems in the field of public sector auditing, like strengthening the institutions that oversee financial management, changes in the scope and methodology of government auditing, ability to conduct performance audits in public enterprises, strengthening internal auditing in spending units, ex-post external audits of government activities, budget efficiency problems, performance of expenditure programmes.

The advantages accruing from an audit are obvious, taking into account the complexity of present-day commerce and business.

b) Read the document below and discuss the results of the audit: