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西方会计英语Unit three Auditi

时间:2005-12-30 16:00来源:互联网 提供网友:bebttr   字体: [ ]

[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
[00:48.69]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.
[02:55.60]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
[04:49.04]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 wuGzw     
  • 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 JyVzib     
  • 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 My5ziV     
  • 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 nzSzsY     
  • 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 Tz2zXA     
  • 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 5fyz8c     
  • 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 a24badb66c4d7870fd211f2511461fff     
v.利用,使用( utilize的过去式和过去分词 )
  • 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 6QczZ     
  • 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 ChmxZ     
  • 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 onFxd     
  • 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 7c9d6c4703cbc39f1ec2b27542bc5d1a     
n.审计员,稽核员( auditor的名词复数 );(大学课程的)旁听生
  • 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 lLMyS     
  • 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 HoCxf     
  • 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 Boez7e     
  • 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 L66yt     
  • 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 e3xxC     
  • 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 s3Qxd     
  • 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 e9c5430fb8a57cddedf60c5a1d5a56a7     
v.开始( initiate的第三人称单数 );传授;发起;接纳新成员
  • 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 273xZ     
  • 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 WwtztU     
n. 给养
  • 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 b17b07018d744b60aa2a7417d1b4f5a2     
v.证实,支持(某种说法、信仰、理论等)( corroborate的现在分词 )
  • 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 bu3wa     
  • 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 ce4f8f23fdb6a4149bf27a05e7a8aee1     
n.编辑,编写( compilation的名词复数 );编辑物
  • 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 ba0aeb003c1507c01241d6422f36dbba     
25 justification x32xQ     
  • 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 c54379fa058a9ad836b60a32f9ceb5bd     
n.审计,查账( audit的名词复数 )v.审计,查账( audit的第三人称单数 )
  • 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 duszmP     
  • 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 8Sqxf     
  • 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 DALxN     
  • 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 046f25df2e99a79dbb3462bbbfa35bf2     
v.审计,查账( audit的过去式和过去分词 )
  • 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 aq4zNm     
  • 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 013507962bcd4e2c427ab01ddf4d94c8     
n.分叉( divergence的名词复数 );分歧;背离;离题
  • 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 PAOzS     
  • 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 dffc64354445b947454450e472276b99     
n.投资者,出资者( investor的名词复数 )
  • 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 1e0xp     
  • 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 5pVzu     
  • 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 LXmxE     
  • 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 dvnzc5     
  • 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 ZDgz6     
  • 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 45Ixd     
  • 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 d9c77c83f8c2ab289262fec743f08dd0     
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
  • 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
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