Vocabulary

a)

Voucher оправдательный денежный документ

Authorization of accounts разрешение на осуществление платежей

for payments со счетов

Handling of cash использование наличности

Cash balance остаток кассовой наличности

Cashier’s book журнал кассовых операций

Bank statement выписка из счета

Receipt квитанция

To obtain evidence получить доказательство

Disbursements выплаты

Cash book кассовая книга, журнал кассовых операций

To cast подсчитывать, исчислять, подводить итоги

Posting проводка

Ledger бухгалтерская книга, бухгалтерский регистр

Expenses incurred понесенные расходы

To detect обнаруживать

To rectify исправлять

Creditor’s Ledger книга кредиторов

Test-check проверять с помощью тестов

Audit statement аудиторский отчет

Sales Ledger книга учета продаж

Day Book книга операций рабочего дня

Defalcation присвоение чужих денег

Fraud мошенничество, обман

b)

Misuse злоупотребление

Universally accepted общепринятый

Habitually обычно

To divert отвлекать, отводить

Lucrative прибыльный, выгодный, доходный

Personal gain личная выгода

Accounts Chamber Счетная палата

Designated purposes указанные (запланированные) цели

Consent согласие

Violation нарушение

Embezzlement растрата

Court ruling постановление суда

To sue искать в суде, преследовать в судебном порядке

Misappropriation незаконное присвоение, растрата

To remit переводить (средства)

Recipient получатель

Fast-yielding deals сделки, быстро приносящие прибыль

Valuables ценности

To bar запрещать

Exercise 11. Read the dialogue, using the vocabulary, given after it. Sum up its content and act it out.

Auditing in russia

Englishman: In most industrialized countries audit is a statutory requirement applying to limited companies. Are there any similar regulations in force in Russia?

Russian: The transition to a market economy has led to the establishment of new market mechanisms and creation of new institutions. Under the legislation in force, joint ventures are required to submit their annual financial statements, audited by an auditing organization, to the local financial authority.

E.: As far as I know, you didn’t use to have auditing firms in the past. Are there any auditors now?

R.: Yes, there are. The profession is developing very fast. There are hundreds of auditing firms in every big city now.

En.: In the UK the auditor is responsible for ensuring that the accounts show a “true and fair” view of the business’s financial position and performance. What is auditing in your country?

R.: As elsewhere, auditing in our country is a process in which an independent accountant examines a firm’s records, analyses financial statements and offers an opinion on their accuracy and reliability. If the auditor doesn’t find faults he confirms the Balance Sheet and the Profit and Loss Account.

En.: I see, we have much in common here. Our auditors, as a rule, are chartered public accountants, too. Besides, our auditors are very active in consultancy.

R.: Due to the specific business environment, auditors in our country render a very wide range of consultancy services.

En.: I suppose they help their clients to prepare tax returns and give advice on the maintenance of accounting and organization of internal controls.

R.: Not only. Our auditors also give advice on how to set up businesses, how to improve an enterprise management, explain to their clients rules for performing foreign trade transactions and foreign currency operations.

En.: It is widely believed in the UK that if auditors are to play their proper part in the national economic development, they must be independent of pressures not simply from clients but also, as far as practicable, from government or state agencies.

R.: The majority of our auditors fully share this point of view. Besides, we believe that an independent, effective and efficient profession requires a strong institutional infrastructure. Audit chambers have been set up throughout our country.

En.: It’s nice to hear it. Besides, the strength and prestige of a professional body depends on the professional competence. Who is entitled to carry out statutory audits of accounting documents in Russia?

R.: Only auditors having a license. We know that the professional qualifications for auditors in the UK are very high. What are they?

En.: Well, our standards in this field are really very high. Every chartered accountant undergoes several years of intensive professional training culminating in examinations of a very high standard. Even then, further experience and study are required to obtain a practicing certificate.

R.: What subjects do the examinations cover?

En.: A very wide range, I must say. They include auditing, analysis and critical assessment of annual accounts, general accounting, consolidated accounts, cost and management accounting, internal audit, legal and professional standards relating to the statutory auditing, company law, the law on insolvency, tax law, civil and commercial law, employment law, basic principles of financial management, etc.

R.: It’s not surprising that your accountants and auditors are respected the world over.