Sweden.

The Swedish National Audit Office (SNAO) is ... independent institution for central government auditing and accounting in ... Sweden. The main task of ... organisation is to audit the effective fulfilment of central government goals and commitments. In line with this, the organisation analyses revenues and expenditures of ... central government, audits central government activities, examines accounts and performance of all government agencies and ... public organisations. 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 imroving 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 qualifications and ... professional ability. Almost 95 per cent of the professional staff hold high professional qualifications.

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

Words you may need:

Swedish National Audit Office Государственная ревизионная служба Швеции

foster v поощрять, благоприятствовать

cash flow поток наличных средств

public administration управление на государственном и местном уровнях

appropriation n ассигнование

fee-financed на хозрасчете

INTOSAI Международная организация высших контрольных органов

EUROSAI Европейская организация высших контрольных органов

Ex. 9. a) Supply the prepositions where necessary.

b) Say what the auditors checked during the audit in accordance with the instructions given to them.

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 now 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 statements 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 of, or opportunity ... defalcation or fraud.

Words you may need:

voucher n оправдательный денежный документ

authorization of accounts for payment разрешение на осуществление платежей со счетов

handling of cash использование наличности

cash balance остаток кассовой наличности

cashier's book журнал кассовых операций

bank statement выписка из счета

receipt n квитанция

to obtain evidence получить доказательство

disbursements n pl выплаты

cash book кассовая книга, журнал кассовых операций

cast v подсчитывать, исчислять, подводить итоги

posting v проводка

ledger n бухгалтерская книга, бухгалтерский регистр

expenses incurred понесенные расходы

detect v обнаруживать

rectify v исправлять

Creditors' Ledger книга кредиторов

test-check v проверять с помощью тестов

audit statement аудиторский отчет

Sales Ledger книга учета продаж

Day Book книга операций рабочего дня

defalcation n присвоение чужих денег

fraud n мошенничество, обман

Ex. 10. a) Open the brackets putting the verbs in the correct form,

b) Discuss the content of the article.

Misuse of Public Funds

It is a universally accepted truth in Russia that the heads of many public funds habitually (to divert) trillions of rubles away from the stated purpose into lucrative deals for personal gain.

Over the first 10 months of this year, the Accounts Chamber, a watchdog of the State Duma, (to reveal) that nearly 1.8 trillion rubles, were not used for their designated purposes.

The auditors (to find) that nearly every fund was not using its money as it was supposed to. For instance, the Moscow branch of Russia's Pension Fund (to buy) a building for about 2 billion rubles, (to spend) 11.5 billion rubles on its renovation and repair, and (to pay) another 6 billion rubles to an intermediary for "selecting the building, preparing the necessary documents, and obtaining the consent of the parties concerned." The Pension Fund (to misuse) more than 660 billion rubles despite the fact that people in some regions were left without pension payments for up to three months.

Many public funds (to set) up their own banks with charter capital running into hundreds of billions of rubles.

In spite of the obvious violations of regulations, all these operations cannot be put down as embezzlement without court rulings, and the violators are unlikely to be sued.

Misappropriations from extrabudgetary funds (to encourage) not only by people with a particular mentality and by a lack of adequate actions on the part of law-enforcement agencies, but also by the very system through which financial resources (to flow) from top to bottom. State extrabudgetary funds (to act) as an intermediary that collects payments and remits them to the recipients. Thus, they (to tempt) to "invest" the money in lucrative fast-yielding deals.

There would probably have been fewer cases of embezzlement and misuse of assets if public funds had initially been granted legal rights to earn money by, for example, transacting in securities and foreign-exchange valuables, and making short-term deposits in banks. So far the funds only (to have) a list of operations barred to them.

Words you may need:

misuse n злоупотребление

universally accepted общепринятый

habitually adv обычно

divert v отвлекать, отводить

lucrative adj прибыльный, выгодный, доходный

personal gain личная выгода

Accounts Chamber Счетная палата

designated purposes указанные (запланированные) цели

consent n согласие

violation n нарушение

embezzlement n растрата

court ruling постановление суда

sue v искать в суде, преследовать в судебном порядке

misappropriation n незаконное присвоение, растрата

remit v переводить (средства)

recipient n получатель

fast-yielding deals сделки, быстро приносящие прибыль

valuables n ценности

bar v запрещать

Ex. 11. Fill each gap with a suitable word from the box. Sum up the text in 5-7 sentences and present your summary in class.

free proper standards audit (2)

opinion (2) preparing performed management

statements responsibilities accordance view