Under-suspicion children's charity counters allegations with audit

 BEIJING, Dec. 14 (Xinhua) -- A children's charity suspected of money laundering¹ announced on Friday that it had provided a bank statement of its cash flow in 2011 to a third-party auditing³ agency, in the hope of clearing itself of public suspicion.

The results of the audit² will be disclosed next week, according to a statement issued by the China Charities Aid Foundation for Children (CCAFC).

The controversy⁴ emerged after political pundit⁵ Zhou Xiaoyun posted the financial statement of the CCAFC onto Sina Weibo, China's Twitter-like microblog service, and raised suspicions it had engaged in money laundering.

Citing the CCAFC's 2011 financial statement, which he said he had acquired legally, Zhou questioned online the whereabouts of around 4.8 billion yuan listed as cash payments.

In response to the criticism, the CCAFC publicly apologized on Tuesday, attributing the disputed cash flow to an accounting⁶ mistake regarding other monetary⁷ assets, and uploaded a statement detailing the movement of other monetary assets on its official website as evidence.

Jiang Ying, a representative for the CCAFC, told Xinhua earlier this week that a serious accounting mistake was to blame for the controversy.

"Our financial staff mistakenly listed 4.75 billion in the foundation's aggregate⁸ accrual⁹ for short-term wealth management, but the amount should be 475 million," she said.

That inflated¹⁰ the figure under the item of other cash inflow and indirectly¹¹ distorted the other cash payment, according to Jiang.

In its public apology, the foundation explained that purchases of short-term wealth management products from banks were "prudently¹² made" to "increase revenue, reduce the proportion of operating outlays¹³ to donations and provide better assistance to the needy¹⁴."

"These deals can be traced on the statement published on our website," said Jiang.

According to Jiang, the foundation channelled some 30 million yuan to short-term asset-management last year and earned nearly 1.08 million yuan.

However, the public seemed to be dissatisfied with the CCAFC's explanation, demanding verified bank statements.

A series of scandals have hit charity organizations in China in recent years, causing a public outcry for more transparency in China's charity work.

Most notably¹⁵, the Red Cross Society of China (RCSC) came under fire in 2011 after a young woman calling herself "Guo Meimei" claimed in microblog posts that she worked for an organization under the RCSC and detailed¹⁶ her lavish¹⁷ lifestyle. That led some netizens to suspect she was embezzling¹⁸ funds.

Donations to the RCSC plummeted¹⁹ 59.39 percent year on year in 2011, according to official data.

1 laundering   

n.洗涤（衣等），洗烫（衣等）；洗（钱）v.洗（衣服等），洗烫（衣服等）( launder的现在分词 )；洗（黑钱）（把非法收入改头换面，变为貌似合法的收入）

参考例句：

• Separate the white clothes from the dark clothes before laundering. 洗衣前应当把浅色衣服和深色衣服分开。 来自《简明英汉词典》
• He was charged with laundering money. 他被指控洗钱。 来自《简明英汉词典》

2 audit   

v.审计；查帐；核对；旁听

参考例句：

• Each year they audit our accounts and certify them as being true and fair.他们每年对我们进行账务审核，以确保其真实无误。
• As usual,the yearly audit will take place in December.跟往常一样，年度审计将在十二月份进行。

3 auditing   

n.审计，查账，决算

参考例句：

• Auditing standards are the rules governing how an audit is performed.收支检查标准是规则统治一个稽核如何被运行。
• The auditing services market is dominated by a few large accounting firms.审计服务市场被几家大型会计公司独占了。

4 controversy   

n.争论，辩论，争吵

参考例句：

• That is a fact beyond controversy.那是一个无可争论的事实。
• We ran the risk of becoming the butt of every controversy.我们要冒使自己在所有的纷争中都成为众矢之的的风险。

5 pundit   

n.博学之人；权威

参考例句：

• Even the outstanding excellent graduate will learn constantly if he likes to be a pundit.即使最优秀的结业生，要想成为一个博学的人也要不断地研究。
• He is a well known political pundit.他是一个著名的政治专家。

6 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

7 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

8 aggregate   

adj.总计的，集合的；n.总数；v.合计；集合

参考例句：

• The football team had a low goal aggregate last season.这支足球队上个赛季的进球总数很少。
• The money collected will aggregate a thousand dollars.进帐总额将达一千美元。

9 accrual   

n.获利；利息；自然增长；自然增长物

参考例句：

• But these accrual run a system and give due effectiveness without play. 但这些收益治理系统并没有发挥出应有的效用。 来自互联网
• Article 5 The company employ the Accrual Basis Accounting principle. 第五条本企业应当根据权责发生制的原则记账。 来自互联网

10 inflated   

adj.（价格）飞涨的；（通货）膨胀的；言过其实的；充了气的v.使充气（于轮胎、气球等）( inflate的过去式和过去分词 )；（使）膨胀；（使）通货膨胀；物价上涨

参考例句：

• He has an inflated sense of his own importance. 他自视过高。
• They all seem to take an inflated view of their collective identity. 他们对自己的集体身份似乎都持有一种夸大的看法。 来自《简明英汉词典》

11 indirectly   

adv.间接地，不直接了当地

参考例句：

• I heard the news indirectly.这消息我是间接听来的。
• They were approached indirectly through an intermediary.通过一位中间人，他们进行了间接接触。

12 prudently   

adv. 谨慎地，慎重地

参考例句：

• He prudently pursued his plan. 他谨慎地实行他那计划。
• They had prudently withdrawn as soon as the van had got fairly under way. 他们在蓬车安全上路后立即谨慎地离去了。

13 outlays   

v.支出，费用( outlay的第三人称单数 )

参考例句：

• They report substantial slashes in this year's defense outlays. 他们报道今年度国防经费的大量削减。 来自辞典例句
• For MU, there were no upfront risks or cash outlays. 对摩托罗拉大学而言，没有风险或现金费用。 来自互联网

14 needy   

adj.贫穷的，贫困的，生活艰苦的

参考例句：

• Although he was poor,he was quite generous to his needy friends.他虽穷，但对贫苦的朋友很慷慨。
• They awarded scholarships to needy students.他们给贫苦学生颁发奖学金。

15 notably   

adv.值得注意地，显著地，尤其地，特别地

参考例句：

• Many students were absent,notably the monitor.许多学生缺席，特别是连班长也没来。
• A notably short,silver-haired man,he plays basketball with his staff several times a week.他个子明显较为矮小，一头银发，每周都会和他的员工一起打几次篮球。

16 detailed   

adj.详细的，详尽的，极注意细节的，完全的

参考例句：

• He had made a detailed study of the terrain.他对地形作了缜密的研究。
• A detailed list of our publications is available on request.我们的出版物有一份详细的目录备索。

17 lavish   

adj.无节制的；浪费的；vt.慷慨地给予，挥霍

参考例句：

• He despised people who were lavish with their praises.他看不起那些阿谀奉承的人。
• The sets and costumes are lavish.布景和服装极尽奢华。

18 embezzling   

v.贪污，盗用（公款）( embezzle的现在分词 )

参考例句：

• Accordingly, object embezzling waste to be carried temporarily the schedule of administration. 因此，反对贪污浪费就提上了临时中央政府的议事日程。 来自互联网
• Some were sentenced for taking bribes, others executed for embezzling funds. 有的因受贿而被判刑，有的因侵吞公款而被判处死刑。 来自互联网

19 plummeted   

v.垂直落下，骤然跌落( plummet的过去式和过去分词 )

参考例句：

• Share prices plummeted to an all-time low. 股票价格暴跌到历史最低点。
• A plane plummeted to earth. 一架飞机一头栽向地面。 来自《简明英汉词典》