西方会计英语Unit three Auditi

[00:03.03]Text 3.1   The auditing² framewo
[00:06.82]When the independent auditor³ begins an audit¹ assignment,he assumes that
[00:11.42]the internal control system of the enterprise is appropriate and effectiv
[00:15.57]2.  generally accepted accounting⁴ principles have been applied⁵ in all accounting processes underlying⁶ the financial statement
[00:23.17]3. the generally accepted accounting principles utilized⁷ have been applied consistently between the current and the prior period;a
[00:31.35]4. there is an adequate amount of informative⁸ financial disclosure in the financial statements and footnote
[00:37.72]Evidence gathering⁹ and its evaluation¹⁰ enable the auditors¹¹ to reject or confirm these a prior assumption
[00:44.90]We are thus in a position to define auditin
[00:47.75]Auditing
[00:48.69]The analytical¹² process of gathering sufficient evidential matter on a test or sampling basis to enable a competent professional to express an opinion as to whether a given set of financial statements meets established standards of financial reportin
[01:02.80]Now we can enumerate¹³ the major steps of the auditing process
[01:06.74]1.become acquainted with the firm-its environment and its accounting ,personnel,production, marketing¹⁴ ,and other system
[01:16.04]2. review and evaluate the management and the accounting control system in operatio
[01:21.61]3.gather evidential matter on the integrity of the syst
[01:25.73]4. gather further evidence related to the representations made in the financial statements;a
[01:31.79]5.formulate¹⁵ a judgment¹⁶ opinion on the basis of the evidence availabl
[01:36.24]Getting acquaint
[01:37.72]Auditing is an analytical process applied to everyday business situation
[01:43.21]Hence it is closely related to existing business practice
[01:47.23]Without firsthand knowledge of the nature of these practices and their larger setting,the auditor whould have to rely exclusively on available financial dat
[01:56.19]This would jeopardize¹⁷ both audit efficiency and effectivenes
[02:00.66]Therefore a getting acquainted phase(which usually includes a visit to a client's facilities and certain analytical preliminary tests and inquiries) initiates¹⁸ the typical audit proces
[02:13.69]While getting-acquainted preliminaries to the conduct of an audit are standard procedures today
[02:19.34]they were quite novel prior to 1965 Initially¹⁹ such procedures were described as the 'business approach to auditin
[02:27.70]Control system revi
[02:29.81]The auditor's evaluation of the control systems operating within the enterprise has a direct influence on the scope of the examination he undertakes and the nature of the tests he conduct
[02:40.65]However, even though preliminary evaluation of control systems is an essential ingredient of planning the audit scop
[02:47.71]we must remember that eventually both the system and the data it produces are covered by the audit process.
[02:54.50]Example
[02:55.60]The Brothers Three Shopping Center has leased space to Mr Hines,who operates a quality restaurant named The Duncan Inn located within i
[03:04.24]Lease payments are based on a minimum monthly amount sufficient to cover taxes and insurance on the building plus a graduated percentage of the restaurant's gross sales to diners and bar patron
[03:15.60]No percentage payments are due on catering²⁰ service
[03:18.97]Bar and restaurant receipts of The Duncan Inn are collected in cash and from credit card billing
[03:25.06]A select few patrons have the privilege of open credit with monthly billing
[03:30.44]In planning the intial audit of The Duncan Inn's financial statement a CPA finds that virtually no internal control exists over cash bar receipt
[03:40.55]Hence tests covering cash bar receipts are schduled more comprehensively than those extending to credit card sale
[03:48.18]Evidential matt
[03:49.72]Evidential matter supporting financial statements consists of the underlying accounting data and all corroborating²¹ information available to the audito
[03:58.79]The auditor tests underlying accounting data by analysis and review,retracing some of the procedural steps followed in the original accounting process and reconciling the events,with the information reporte
[04:10.93]The auditor's evidential material is the result of tests ,selected observations, and statistical²² sampling where large compilations²³ of data are involve
[04:21.41]The auditor must always balance the natural desire for more evidential matter to support an opinion against the costliness²⁴ and social usefulness of completely reconstructing the underlying data and processes that produced the financial statement
[04:35.88]One key justification²⁵ for independent audits²⁶, as we have seen is the economy that results from producing expert opinion-based judgements from limited but reliable evidential matte
[04:47.95]Exampl
[04:49.04]Among tests covering cash bar receipts of The Duncan Inn ,the CPA determined²⁷ what the expected average ratios should be between liquor use
[04:58.29]average number of individual drinks per bottle of liquor ,and the price structure of drinks serve
[05:03.86]Making appropriated allowances for credit card sales, the CPA was then able to make a reasonable estimate of cash bar receipts for the period under audi
[05:13.00]The estimate of the cash bar receipts constitutes evidential matter for purposes of the audit.(Note that the foregoing test has physical and financial dimension
[05:24.31]A purely²⁸ financial test would be to subtract cash restaurant receipts from total bank deposits to arrive at cash bar receipts.In an actual engegement, an auditor might have undertaken both types of tests
[05:39.38]Text 3.2     Time to clarify the obligations of audito
[05:45.34]The 1990s pose fundanental problems for UK accounting firm
[05:49.73]In addition to increased commercial pressures, the profession faces a threat from public policy maker²⁹
[05:55.97]There is increasing suspicion about the effectiveness of self-regulatio
[06:00.49]Who audits the auditor? And who should do s
[06:04.88]The root of the regulatory debate is the auditor's position between,on one hand, the managers of public companie
[06:11.72]and,on the other,their owners and other groups such as employees, pension fund beneficiaries, creaditors, and government departments which rely on the accuracy of the audited³⁰ account
[06:23.50]The auditor is hired by the managers to protect the interests of this latter group of 'stakeholder
[06:29.30]There are obvious tensions when the interests of the two groups diverag
[06:33.53]perhaps because of suspected fraud or more typically because managers have an interest in the reported results being well received by investor³¹ and other
[06:42.16]Economists analyse such divergences³² of interest between one party and the agent employed to work on its behalf as a 'principal/agent'proble
[06:52.50]Traditional solutions of professional self-regulation backed up by legal redress³³ as a last resort appear to be ripe for refor
[07:00.28]Recent financial scandals have cast doubts on whether the threat of public disprace is sufficient to safeguard audit standards.
[07:06.81]These doubts are confirmed by the experiences of investors³⁴ who have sought redress for auditor malpractice in the courts.
[07:13.37]Almost all such cases are settled out of court without any clarification of the legal duties.
[07:19.38]The Caparo case,which clarified auditors' responsibilities,underlines the gulf³⁵ bwteen what users expect,and what the auditor is prepared to offer.
[07:29.18]The auditor's signature is treated by users of company accounts as an assurance of the quality of the information they contain—
[07:36.18]a kind of insurance policy against the risk that the company's true financial state is not what it appears.
[07:42.11]The leading audit firms,whose strong brand names command a substantial price premium,have an interest in sustaining this belief.
[07:50.18]Yet attempts to make a claim on this policy show that pay-out terms are unreliable and highly uncertain.
[07:57.81]The most common form of audit regulation proposed is to prevent auditors carrying out consultancy assignments for their audit clients—a feature of several EC markets.
[08:08.28]The NEAR study showed that the major accounting firms rely heavily on audit clients for their non-audit business.
[08:15.57]But it also found the firms had managed to avoid the regulations in these countries.
[08:20.56]A second mechanism,favoured in Italy and Spain and suggested elsewhere,is to have periodic compulsory³⁶ rotation³⁷ of auditors,
[08:28.87]to prevent too cosy³⁸ a relationship between the audit partner and the management of the firm.
[08:34.09]But this causes potentially high disruption costs and raises questions as to the quality of the audit scrutiny³⁹ during the transition period.
[08:42.29]A third solution favoured by some accounting firms,is to introduce measures to reduce the intensity⁴⁰ of competition for the audit contract,
[08:49.97]removing the temptation to reduce audit quality as a means of cutting costs.
[08:54.70]Protection from competition might reduce the tendency of the client to question the value for money offered by the auditor.
[09:00.89]But the idea that protectionism guarantees higher standards holds no more water in this context than elsewhere.
[09:07.55]None of the models for reform suggested by the other EC states really addresses the principal/agent problem which underlies⁴¹ the need for reform.
[09:16.23]If the question of auditor independence is to be tackled,more fundamental issus need to be addressed.

1 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。

2 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。

3 auditor   

n.审计员，旁听着

参考例句：

• The auditor was required to produce his working papers.那个审计员被要求提供其工作底稿。
• The auditor examines the accounts of all county officers and departments.审计员查对所有县官员及各部门的帐目。

4 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。

5 applied   

adj.应用的；v.应用，适用

参考例句：

• She plans to take a course in applied linguistics.她打算学习应用语言学课程。
• This cream is best applied to the face at night.这种乳霜最好晚上擦脸用。

6 underlying   

adj.在下面的，含蓄的，潜在的

参考例句：

• The underlying theme of the novel is very serious.小说隐含的主题是十分严肃的。
• This word has its underlying meaning.这个单词有它潜在的含义。

7 utilized   

v.利用，使用( utilize的过去式和过去分词 )

参考例句：

• In the19th century waterpower was widely utilized to generate electricity. 在19世纪人们大规模使用水力来发电。 来自《简明英汉词典》
• The empty building can be utilized for city storage. 可以利用那栋空建筑物作城市的仓库。 来自《简明英汉词典》

8 informative   

adj.提供资料的，增进知识的

参考例句：

• The adverts are not very informative.这些广告并没有包含太多有用信息。
• This intriguing book is both thoughtful and informative.这本引人入胜的书既有思想性又富知识性。

9 gathering   

n.集会，聚会，聚集

参考例句：

• He called on Mr. White to speak at the gathering.他请怀特先生在集会上讲话。
• He is on the wing gathering material for his novels.他正忙于为他的小说收集资料。

10 evaluation   

n.估价，评价；赋值

参考例句：

• I attempted an honest evaluation of my own life.我试图如实地评价我自己的一生。
• The new scheme is still under evaluation.新方案还在评估阶段。

11 auditors   

n.审计员，稽核员( auditor的名词复数 )；（大学课程的）旁听生

参考例句：

• The company has been in litigation with its previous auditors for a full year. 那家公司与前任审计员已打了整整一年的官司。
• a meeting to discuss the annual accounts and the auditors' report thereon 讨论年度报表及其审计报告的会议

12 analytical   

adj.分析的；用分析法的

参考例句：

• I have an analytical approach to every survey.对每项调查我都采用分析方法。
• As a result,analytical data obtained by analysts were often in disagreement.结果各个分析家所得的分析数据常常不一致。

13 enumerate   

v.列举，计算，枚举，数

参考例句：

• The heroic deeds of the people's soldiers are too numerous to enumerate.人民子弟兵的英雄事迹举不胜举。
• Its applications are too varied to enumerate.它的用途不胜枚举。

14 marketing   

n.行销，在市场的买卖，买东西

参考例句：

• They are developing marketing network.他们正在发展销售网络。
• He often goes marketing.他经常去市场做生意。

15 formulate   

v.用公式表示；规划；设计；系统地阐述

参考例句：

• He took care to formulate his reply very clearly.他字斟句酌，清楚地做了回答。
• I was impressed by the way he could formulate his ideas.他陈述观点的方式让我印象深刻。

16 judgment   

n.审判；判断力，识别力，看法，意见

参考例句：

• The chairman flatters himself on his judgment of people.主席自认为他审视人比别人高明。
• He's a man of excellent judgment.他眼力过人。

17 jeopardize   

vt.危及，损害

参考例句：

• Overworking can jeopardize your health.工作过量可能会危及你的健康。
• If you are rude to the boss it may jeopardize your chances of success.如果你对上司无礼，那就可能断送你成功的机会。

18 initiates   

v.开始( initiate的第三人称单数 )；传授；发起；接纳新成员

参考例句：

• The booklet initiates us into the problems of living abroad. 这本小册子使我们对国外的生活情况有了初步了解。 来自《简明英汉词典》
• Everybody initiates and receives messages in some form or other. 每个人都以各种不同的方式发出并接收信息。 来自辞典例句

19 initially   

adv.最初，开始

参考例句：

• The ban was initially opposed by the US.这一禁令首先遭到美国的反对。
• Feathers initially developed from insect scales.羽毛最初由昆虫的翅瓣演化而来。

20 catering   

n. 给养

参考例句：

• Most of our work now involves catering for weddings. 我们现在的工作多半是承办婚宴。
• Who did the catering for your son's wedding? 你儿子的婚宴是由谁承办的？

21 corroborating   

v.证实，支持（某种说法、信仰、理论等）( corroborate的现在分词 )

参考例句：

• Neither can one really conclude much from a neat desk, unless there is further corroborating evidence. 实际上，我们也无法从一张整洁的办公桌中得出什么结论，除非还有其它证据进一步证实。 来自互联网

22 statistical   

adj.统计的，统计学的

参考例句：

• He showed the price fluctuations in a statistical table.他用统计表显示价格的波动。
• They're making detailed statistical analysis.他们正在做具体的统计分析。

23 compilations   

n.编辑，编写( compilation的名词复数 )；编辑物

参考例句：

• Introductory biology texts tend to be compilations of conclusions. 导论式的生物学教科书，多倾向于结论的汇编。 来自辞典例句
• The original drafts were mainly chronicles and compilations of regulations. 初撰本主要以纪事本末体和典志体为主。 来自互联网

24 costliness   

昂贵的

参考例句：

25 justification   

n.正当的理由；辩解的理由

参考例句：

• There's no justification for dividing the company into smaller units. 没有理由把公司划分成小单位。
• In the young there is a justification for this feeling. 在年轻人中有这种感觉是有理由的。

26 audits   

n.审计，查账( audit的名词复数 )v.审计，查账( audit的第三人称单数 )

参考例句：

• Requires that use of all bond funds is subject to independent audits. 需要使用的所有债券基金是受独立审计。 来自互联网
• Support the locations during customer-visits, audits and quality-improvement programs. 支持客户参观，稽核和提高品质等项目。 来自互联网

27 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。

28 purely   

adv.纯粹地，完全地

参考例句：

• I helped him purely and simply out of friendship.我帮他纯粹是出于友情。
• This disproves the theory that children are purely imitative.这证明认为儿童只会单纯地模仿的理论是站不住脚的。

29 maker   

n.制造者，制造商

参考例句：

• He is a trouble maker，You must be distant with him.他是个捣蛋鬼，你不要跟他在一起。
• A cabinet maker must be a master craftsman.家具木工必须是技艺高超的手艺人。

30 audited   

v.审计，查账( audit的过去式和过去分词 )

参考例句：

• The accounts have to be audited by a firm of external auditors. 这些账目必须由一家外聘审计员的公司来稽查。 来自《简明英汉词典》
• E. g. few if any charities collection publishes audited accounts. 例如很少义款收集有公布经过查核的帐目。 来自互联网

31 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

32 divergences   

n.分叉( divergence的名词复数 )；分歧；背离；离题

参考例句：

• This overall figure conceals wide divergences between the main industrial countries. 这项综合数据掩盖了主要工业国家间的巨大分歧。 来自辞典例句
• Inform Production Planner of any divergences from production plan. 生产计划有任何差异通知生产计划员。 来自互联网

33 redress   

n.赔偿，救济，矫正；v.纠正，匡正，革除

参考例句：

• He did all that he possibly could to redress the wrongs.他尽了一切努力革除弊端。
• Any man deserves redress if he has been injured unfairly.任何人若蒙受不公平的损害都应获得赔偿。

34 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

35 gulf   

n.海湾；深渊，鸿沟；分歧，隔阂

参考例句：

• The gulf between the two leaders cannot be bridged.两位领导人之间的鸿沟难以跨越。
• There is a gulf between the two cities.这两座城市间有个海湾。

36 compulsory   

n.强制的，必修的；规定的，义务的

参考例句：

• Is English a compulsory subject?英语是必修课吗？
• Compulsory schooling ends at sixteen.义务教育至16岁为止。

37 rotation   

n.旋转；循环，轮流

参考例句：

• Crop rotation helps prevent soil erosion.农作物轮作有助于防止水土流失。
• The workers in this workshop do day and night shifts in weekly rotation.这个车间的工人上白班和上夜班每周轮换一次。

38 cosy   

adj.温暖而舒适的，安逸的

参考例句：

• We spent a cosy evening chatting by the fire.我们在炉火旁聊天度过了一个舒适的晚上。
• It was so warm and cosy in bed that Simon didn't want to get out.床上温暖而又舒适，西蒙简直不想下床了。

39 scrutiny   

n.详细检查，仔细观察

参考例句：

• His work looks all right,but it will not bear scrutiny.他的工作似乎很好，但是经不起仔细检查。
• Few wives in their forties can weather such a scrutiny.很少年过四十的妻子经得起这么仔细的观察。

40 intensity   

n.强烈，剧烈；强度；烈度

参考例句：

• I didn't realize the intensity of people's feelings on this issue.我没有意识到这一问题能引起群情激奋。
• The strike is growing in intensity.罢工日益加剧。

41 underlies   

v.位于或存在于（某物）之下( underlie的第三人称单数 )；构成…的基础（或起因），引起

参考例句：

• I think a lack of confidence underlies his manner. 我认为他表现出的态度是因为他缺乏信心。 来自《简明英汉词典》
• Try to figure out what feeling underlies your anger. 努力找出你的愤怒之下潜藏的情感。 来自辞典例句