C) Say what you have learned from the text about government auditing in Sweden

B) Write down 3-5 questions about the text.

A) Supply the articles where necessary.

The Swedish National Audit Office (SNAO) is … independent institution for central government auditing and accounting in … Sweden. The main task of … organization is to audit the effective fulfillment of central government goals and commitments. In line with this, the organization analyses revenues and expenditures of … central government, audits central government activities, examines accounts and performance of all government agencies and … public organizations. The SNAO selects independently … agencies and activities to be audited, … auditing methods to be used, … content of the audit reports, as well as the audit statements. All audits are carried out in accordance with generally accepted auditing standards. The audits principally have … control functions, but substantial efforts are also made to ensure that the results of the audit can be used as … basis for improving efficiency and effectiveness. The SNAO also has … task of improving financial management at all levels of … central government, of fostering high standards of financial management leading to the efficient use of central government funds, efficient cash flows and security of the payment system.

The government and … Parliament use the information of the SNAO as a basis for their decisions on … development and transformation of the Swedish public administration. Besides, … government often turns to the SNAO for … comments on measures proposed by different public commissions.

In addition, … SNAO establishes … norms, develops auditing methods, and offers training and advice on issues related to auditing and financial management.

The staff are recruited on … basis of educational qualification and … professional ability. Almost 95 per cent of the professional staff hold high professional qualifications.

Central government appropriations finance some fifty per cent of … organization’s activity and the remaining activities are free-financed. The SNAO is … active member of INTOSAI (the International Organization for Supreme Audit Institutions) and its European equivalent EUROSAI (the European Organization for Supreme Audit Institutions).

Words you may need:

Swedish National Audit Office – Державна ревізійна служба Швеції

foster – сприяти, заохочувати

cash flow – потік готівкових засобів

public administration – управління на державному та місцевому рівнях

appropriation – асигнування

free-financed – на госпрозрахунку

INTOSAI – Міжнародна організація вищих контрольних органів

EUROSAI – Європейська організація вищих контрольних органів

žTESTS

I. Fill in each space with the appropriate words from a, b or c:

1. The accountancy __________ has built up a significant amount of expertise in performing financial statements audits.

a) circulation;

b) profession;

c) examination.

1. If the management is not prepared to take ________ it may be hard to complete the audit.

a) responsibility;

b) right;

c) deviation.

1. Audits cannot be completed without a proper study and evaluation of the __________and assessment of the internal accounting controls.

a) accounting records;

b) accounting system;

c) profit and loss account.

1. The natural finalization of the audit process is the_________, reflecting the auditor’s opinion on the financial statements.

a) auditor’s report;

b) accounting records;

c) accounts audit.

1. Defining the audit _________ the auditor has to decide whether to rely on internal controls or to resort to substantive testing applying analytical review procedures,

a) magnitude;

b) deviation;

c) strategy.

II. Which is correct:

1. Financial statements:

a) аудиторська перевірка;

b) фінансова звітність;

c) попередній аналіз.

1. Відповідний звіт про прибутки та збитки:

a) the related statement of income;

b) preliminary analytical review;

c) indepth audit report.

1. Ревізія рахунків:

a) balance sheet;

b) profit and loss account;

c) account(s) audit;

1. The synonym for the word “to examine” is:

a) to complete;

b) to judge;

c) to audit.

1. The antonym for the word “accurate” is:

a) precise;

b) exact;

c) erroneous.

III. Match what statements are true and what are false. Results write to the table:

1. There are different types of audits: statement audits, administrative audits, financial management audits.
2. Government agencies may sometimes need an indepth audit report, which is usually not confidential.
3. Auditors do not monitor, they offer an opinion.
4. The management is not responsible for the reliability of financial information.
5. Audits cannot be completed without a proper study and evaluation of the accounting system and assessment of the internal accounting controls.
6. The auditor should not focus on any misstatement whether it is intentional or unintentional.

Table

True
False

IV. Fill the tables:

Дата добавления: 2014-11-29