Auditors’ Report

We have examined the books, accounts and vouchers relating ... the six months ended 30th September ... (year) which were presented ... us. We have made extensive

enquiries ... the system of internal check ... force and are satisfied that it is working

efficiently. Particular attention was paid to the methods in force for the authorization

of accounts for payment and the handling ... cash. The cash balances ...the 30th September ... (year) were counted and found to be in accordance ... the cashier's books.

All bank payments have been verified with the bank statements and certificates of the balances on the accounts obtained ... the bankers.

We have checked all cash and bank payments ... the receipts and have to report that a number of small payments are unsupported ... vouchers. It has been possible, however, to obtain other evidence to show that these disbursements were properly made. The cash books have been cast and all postings ... the various ledgers checked ... detail.

All invoices ... respect of goods purchased and expenses incurred have been examined with the appropriate analysis of books, the totals of which have been checked. Several minor errors were detected which have not been rectified. The postings to the Creditors' Ledgers have been test-checked, being far too numerous to do in detail. The balances ... the individual Creditors' accounts have been compared with special audit statement obtained from them and found to be ... order. Our instructions did not require us to examine the Sales Ledgers and Day Books: we therefore report that in such work as we have performed we found no evidence or opportunity ... defalcation or fraud.

Words you may need:

Voucher оправдательный денежный документ

authorization of accountsfor payment разрешение на осуществление платежей со счетов

handling of cash использование наличности

cash ba lance остаток кассовой наличности

cashier's bo ok журнал кассовых операций

banksta tement выписка из счета

receipt квитанция

disbursements выплаты

cash bo ok кассовая книга, журнал кассовых операций

cast подсчитывать, исчислять, подводить итоги

posting проводка

ledger бухгалтерская книга, бухгалтерский регистр

expenses inc urred понесенные расходы

detect обнаруживать

rectify исправлять

Creditors' Le dger книга кредиторов

test-check проверять с помощью теста

auditsta tement аудиторский отчет

Sales Ledger книга учета продаж

DayBo ok книга операций рабочего дня

Defalcation присвоение чужих денег

Fraud мошенничество, обман

Adam Smith

Adam Smith was a great scientist who made extraordinary contributions in economics.

He was born in 1723 in Kirkcaldy, a small fishing town near Edinburgh, Scotland. His father was a customs officer. He died before his son was born.

At the age of 28 Adam Smith became a Professor of Logics at the University of Glasgow. It was his first academic appointment. Some time later he became a tutor to a wealthy Scottish duke. Then he received a grant of 300 a year. It was a very big sum, 10 times the average income at that time.

With the financial security of his grant, Smith devoted 10 years to writing his work which founded economic science. Its full title was “An Inquiry into the Nature and Causes of the Wealth of Nations.” It was published with great success in 1776.

Adam Smith made economics a science. This Scottish economist is often regarded as the founder of political economy too.

4. Нығайту:

Закрепление:

Exercises

I. Use the verbs in brackets in the Past Indefinite Tense.

He (to make) great contributions in economics.

He (to write) an extraordinary work and (to publish) it in 1776.

He (to become) the founder of political economy.

I (to read) something about this scientist at school in Russian.

II. Translate into Russian.

1. A few problems were discussed.

2. Two dialogues were enacted at the lesson.

3. 10 years were devoted to writing this work.

4. Thus economic science was founded.

5. A lot of questions are asked and answered at the lessons.