审计类财会英语

审计、财务常用英文词汇

审计报告: Audit report

资产负债表：Balance Sheet

损益表：Income statement

利润分配表：Profit distribution statement

<中国注册会计师独立审计准则>：the Independent Auditing Standard for Chinese Certified Public Accountants

会计报表：Financial statement

在抽查的基础上：on a test basis

主任会计师或授权副主任会计师：Chief Accountant or Authorized Assistant Chief Accountant 中国注册会计师：Chinese Certified Public Accountant

无钢印无效：shall not be valid without bearing the embossing seal

年初数，年末数：Opening amounting\ closing amounting

资产负债表：Balance sheet

流动资产：Current assets

货币资金：Cash

短期、长期投资：Short-term、long-term investment

应收票据：Notes receivable

应收账款：Account receivable

坏账准备：Less: provision for bad debt

应收账款净额：Net value of account receivable

预付账款：Advance to supplier

应收出口退税：Receivable drawback for export

应收补贴款： Receivable subsidy

其他应收款：Other receivable

存货：Inventories

待转其他业务支出：Other business expense to be transferred

待摊费用：Prepaid expense

待处理流动资产净损失：Net loss of current assets to be settled

一年内到期的长期债券投资：Long-term bonds investment due in 1 year

其他流动资产：Other current assets

流动资产合计：Total current assets

固定资产：fixed assets

固定资产原价：Original value of fixed assets

累计折旧：accumulated depreciation

固定资产净值：Net value of fixed assets

固定资产清理：Disposal of fixed assets

在建工程：Construction in process

待处理固定资产净损失：Net loss of fixed assets to be settled

固定资产合计：Total fixed assets

无形资产及递延资产：Intangible assets & deferred assets

递延税项目：Deferred tax

负债及所有者权益：Liabilities & owner’s equity

流动负债：current liabilities

短期/长期借款：Short-term/long-term loan

应付票据：Notes payable

预收账款：Advance from clients

其他应付款：Other payable

应付工资：Accrued payroll

应付福利费：Welfare payable

应交税金/应付利润：Tax/ Profits payable

其他应交款：Unpaid others

预提费用：Accrued expense

一年内到期的长期负债：Long-term liabilities due in 1 year

应付债券：Bonds payable

长期应付款：Long-term payable

实收资本：Paid-in capital

资本公积：Capital accumulation

盈余公积：Surplus accumulation

其中：公益金：Including; commonweal funds

本年利润：Profits of current year

未分配利润：Undistributed profits

损益表/利润表：Income statement

产品（商品）销售收入：Revenue of sales of products (commodities) 出口产品销售收入：sales income of export products

销售折扣与折让：Discount& transfer of sales

产品销售净额；Net value of sales of products

产品销售税金/成本：sales tax/cost of products

出口产品销售成本：Sales cost of export products

销售费用（经营费用）：Sales expense (operation expense) 产品销售利润：Sales profits of products

加：其他业务利润：Add: other business profits

营业/管理/财务费用；operation/overhead / finance expense

利息支出（减利息收入）：Interest expense (Less: interest income) 汇兑损失（减汇兑收益）：Exchange loss(exchange income) 营业利润：Operation profits

投资收益；Return on investment

主营业务收入：Revenue of main business

主营业务成本：cost of main business

主营业务税金及附加：Tax & surtax of main business

营业外收入/支出：Non-operation income /expense

投资收益：return on business

补贴收入：subsidy income

以前年度损益调整：Adjustment for profits & loss of previous year 所得税：income tax

利润分配表：Profits Distribution Statement

法定盈余公积：legal surplus accumulation

法定公益金：Legal commonweal funds

年初/末 未分配利润： Undistributed profits of opening / closing year 已弥补亏损：Loss being made up

可供所有者分配的利润：Profits distributable to owner

已分配股利：Distributed dividends

其他转入：other transferred in

提取法定公益金：Retained legal commonweal funds

提取职工奖励及福利基金：Retained employee’s bonus & welfare funds 提取储备基金：retained reversed funds

提取企业发展基金：retained enterprise development funds

利润归还投资：Retained profits into investor

应付优先股/普通股股利：Dividends payable to preference / common stock 提取任意盈余基金：Retained random surplus accumulation

转作资本的普通股股利：Dividends of common stock transferred into capital l 附注：annotation to *

《企业法人营业执照》：Business License for Legal Person

经营期限：operation period

投产：begin to produce

采用的会计政策：Accounting policies implemented

《企业会计准则》：Accounting Standard for Enterprises

《工业企业会计制度》：Accounting System for Industrial Enterprise 会计期间：Fiscal year

记账原则和计价基础：Accounting principle and valuation basis

会计核算；Accounting records

以权责发生制为原则；base on accrual-basis principle

以历史成本为计价基础：be valued at one’s historical cost

坏账：bad debt

直接转销法：direct amortized method

存货核算方法：Accounting method of inventories

存货的够入与入库：inventories at purchasing and inventories to warehouse 使用年限：service life

固定资产折旧：Depreciation of fixed assets

采用直线法平均计算：Be calculated using average service life method 预计使用年限：anticipated service life

预计净残值：anticipated net residual value

使用年限：actual useful life

专用生产设备：production machinery equipment

收入实现条件：Recognition of revenue

订单法：order method

增值税：value added tax (VAT)

现金：cash on hand

银行存款：Bank deposit

账龄：account-age

期末余额：closing balance

产成品：finished products

实收资本: Paid-in capital

本年实际：Actual amount of current year

办公费； office expenses

差旅费：traveling expenses

电话费: telephone charge

水电费：water and electricity charge

金融机构手续费：Handling change of finance authority

出资额：investment amount

档案查询专用章：Special Seal for Archive Inquiry

工商行政管理局：Administration for Industry and Commerce

套印无效：Overprint shall be ineffective

主管：authoritative organ

原审批单位：the original examine and approve authority

会计报表审计 Auditing Financial statements

资本验证 Capital verification

企业财务会计制度设计 Setting up financial systems for enterprises exchange business 代理记帐 Bookkeeping services

外汇年检 专项审计 Special audit and annual auditing of foreign exchange business

企业合并、分立、清算审计 Auditing transactions such as enterprises’ merger、split and liquidation 投资可行性研究 Feasibility analysis for investment project

百阳英语学院整理

第二篇：会计监委会最终批准内部控制和财务报告的审计标准(英文)

CLIENT

MEMORANDUM

PCAOB APPROVES FINAL STANDARD FOR AUDITOR ATTESTATIONS OF

INTERNAL CONTROL OVER FINANCIAL REPORTING

The Public Company Accounting Oversight Board (the “PCAOB”) recently approved a final standard for auditor attestations of a company’s internal control over financial reporting. These attestations are required under Section 404 of the Sarbanes-Oxley Act of 2002 in connection with management’s assessment of such internal control.

Management Assessment of Internal Control Over Financial Reporting

Pursuant to Section 404 of the Sarbanes-Oxley Act, on June 5, 2003, the Securities and Exchange Commission (the “SEC”) adopted final rules requiring management of a reporting company to assess the effectiveness of the company’s internal control over financial reporting1 as of the end of the company’s most recent fiscal year and to describe in the company’s annual report management’s conclusion, as a result of that assessment, whether the company’s internal control is effective. The rules require that management’s internal control report state that the registered public accounting firm that audited the company’s financial statements has issued an attestation report as to whether management’s assessment of the company’s internal control over financial reporting is “fairly stated in all material respects.” The company must then file the attestation report as part of its annual report.

Companies that are “accelerated filers” (generally Form S-3 eligible companies) must comply with these requirements in their annual reports for their first fiscal year ending on or after November 15, 2004; non-accelerated filers and foreign private issuers must comply with these requirements in their annual reports for their first fiscal year ending on or after July 15, 2005.

The Sarbanes-Oxley Act further directed the PCAOB to establish professional standards governing the independent auditors’ attestation report. Accordingly, on March 9, 2004, following a previously proposed version, the PCAOB adopted Auditing Standard No. 2, An Audit of Internal Control Over Financial Reporting Performed in Conjunction With an Audit of Financial Statements (“Auditing Standard No. 2”). This Standard has been submitted to the SEC for its approval. 1 The SEC defines “internal control over financial reporting” as a “process designed by, or under the

supervision of, the issuer’s principal executive and principal financial officers . . . to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements” in accordance with GAAP. It includes policies and procedures for maintaining accounting records, recording transactions, authorizing receipts and expenditures and safeguarding assets.

NEW YORK WASHINGTON PARIS LONDON MILAN ROME FRANKFURT BRUSSELS

Audit of Internal Control Over Financial Reporting

Although the work required to be performed by the independent auditors is referred to as an “attestation,” the PCAOB has stated that the attestation engagement requires the same level of work as an audit of internal control over financial reporting. Consequently, Auditing Standard No. 2 requires that the auditors not just evaluate the adequacy of management’s processes for assessing the effectiveness of the company’s internal control over financial reporting, but that the auditors independently test the effectiveness of the internal control itself.

Because of the similar objectives and work involved in audits of internal control over financial reporting and audits of financial statements, the PCAOB decided that these two audits should be integrated. Accordingly, the auditors who conduct the audit of internal control over financial reporting must also audit the company’s financial statements. The two audit reports may be separate or combined, but should be dated the same date.

The requirements in Auditing Standard No. 2 are based on the internal control framework established by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”). However, Auditing Standard No. 2 allows companies flexibility in choosing an alternative framework that encompasses all of COSO’s general themes.

Commentary:

? The COSO framework consists of five interrelated components: control environment (so-called “tone at the top”), risk assessment, control activities to

ensure that management directives are carried out, capture and communication of

information and monitoring activities.

? Although the COSO framework addresses the effectiveness and efficiency of operations and compliance with applicable law as well as the reliability of

financial reporting, the SEC’s requirements regarding internal control over

financial reporting focus on the latter category. However, controls on operations

and compliance with law, to the extent they may affect financial reporting, are

also part of the SEC’s requirements.

? Auditing Standard No. 2 provides the auditors with some flexibility to use work performed by others, including the internal auditors and management’s

assessment. The more extensive and reliable the work is, and the better

documented it is, the less extensive and costly the independent auditors’ work

will need to be. Still, the independent auditors’ own work must constitute the

principal evidence, both quantitative and qualitative, for their audit opinion.

? Embedded in the SEC definition of “internal control over financial reporting” is that management’s assessment of the company’s internal control must provide

“reasonable assurance” of its effectiveness. The definition recognizes that the

control processes will reduce, but not eliminate, the risk of financial reporting

issues.

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Management’s Responsibilities

For the auditors to perform their audit of the internal control, management must:

? accept responsibility for the effectiveness of the company’s internal control over financial reporting;

? evaluate the effectiveness of the internal control using acceptable criteria;

? support its evaluation with sufficient evidence, including documentation; and

? present its written assessment of the effectiveness of the company’s internal control as of the end of the fiscal year.

If the auditors conclude that management has not satisfied these responsibilities, they should communicate, in writing, to management and the audit committee that the audit cannot be completed.

The Audit Process

The audit of internal control over financial reporting is an extensive process involving multiple steps. These steps include planning the audit, evaluating the process that management used to perform its assessment of the effectiveness of the internal control, evaluating the effectiveness of both the design and operation of the internal control and forming an opinion about whether the internal control is effective.

In addition to testing management’s assessment process and the work on internal control by others, such as the internal auditors, the auditors must test the internal control directly. For example, the auditors are required to perform walkthroughs in each annual audit to trace transactions from origination, through the company’s accounting and information systems and financial report preparation processes, to their being reported in the company’s financial statements.

Auditing Standard No. 2 emphasizes the importance of controls over possible fraud and requires the auditors to test controls specifically intended to prevent, deter and detect fraud. These controls start with the “tone at the top” and include, for example, controls to prevent the misappropriation of assets, risk assessment processes, codes of ethics, internal audit activities and audit committee oversight and whistleblower procedures.

Commentary:

? More limited procedures are required to be performed by the auditors in connection with management’s quarterly certifications regarding internal control

required under Section 302 of the Sarbanes-Oxley Act.

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Auditor Independence

Under Rule 2-01 of Regulation S-X, the auditors’ independence is compromised if the auditors audit their own work or act as management, such as by designing or implementing the internal control. These restrictions, however, do not preclude the auditors from making recommendations as to how management may improve the design or operation of the internal control as a by-product of an audit.

Auditing Standard No. 2 prohibits the auditors from providing any internal control-related service, unless the service has been specifically pre-approved by the audit committee (rather than through a general categorical approval). At all times, management must be actively involved and retain responsibility for the control matters.

Timing of Testing

The Sarbanes-Oxley Act requires management’s assessment and the auditor’s opinion to address whether the internal control was effective as of the end of the company’s most recent fiscal year. Obviously, performing all of the testing on December 31 is neither practical nor appropriate. Auditing Standard No. 2 recognizes that to express an opinion about whether the internal control was effective as of a point in time the auditors must obtain evidence that the internal control operated effectively over an appropriate period of time. Accordingly, the Standard provides that the auditors should obtain evidence about operating effectiveness at different times throughout the year and then update those tests at the end of the year.

Commentary:

? Controls “as of” a specific date include controls relevant to financial reporting “as of” that date, even if they may not operate until later. For example, certain

controls over the period-end financial reporting process normally operate only

after the end of the period.

Evaluating the Results of Testing

Auditing Standard No. 2 differentiates among a control deficiency, a significant deficiency and a material weakness:

? A control deficiency exists when the design or operation of a control does not allow the company’s management or employees, in the normal course of performing their assigned

functions, to prevent or detect misstatements on a timely basis.

? A control deficiency is classified as a significant deficiency if, by itself or in combination with other control deficiencies, it results in more than a remote likelihood that a

misstatement of the company’s annual or interim financial statements that is more than inconsequential will not be prevented or detected.

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? A significant deficiency is classified as a material weakness if, by itself or in combination with other control deficiencies, it results in more than a remote likelihood

that a material misstatement in the company’s annual or interim financial statements will not be prevented or detected.

The auditors must evaluate the severity of all control deficiencies, communicate such deficiencies in writing to management and notify the audit committee that such communication has been made. All significant deficiencies and material weaknesses must also be communicated in writing to the audit committee.

Auditing Standard No. 2 provides examples of circumstances that are significant deficiencies, as well as strong indicators of the existence of a material weakness, including:

? ineffective oversight of the company’s external financial reporting and internal control over financial reporting by the company’s audit committee;

Commentary:

? Ironically, this means that the independent auditors, who are hired and supervised by the audit committee, must evaluate the effectiveness of their

overseers.

? any material misstatement in the financial statements not initially identified by the company’s internal control;

? significant deficiencies that have been communicated to management and the audit committee, but that remain uncorrected after reasonable periods of time;

? ineffective internal audit or risk assessment functions, particularly for large or complex companies;

? an ineffective regulatory compliance function in regulated companies, where violations of applicable law could have a material effect on financial reporting; and

? identification of fraud of any magnitude by senior management.

Forming an Opinion and Reporting

Similar to management’s internal control report, only material weaknesses are required to be disclosed in the auditors’ report on the effectiveness of the control. If the auditors have identified a material weakness, they must conclude that the company’s internal control is not effective; a qualified opinion is not permitted if there is a material weakness.

Auditing Standard No. 2 permits the auditors to express an unqualified opinion only if the auditors have not identified any material weaknesses in the internal control after having performed all of the procedures that the auditors consider necessary under the circumstances. If

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the auditors cannot perform all necessary procedures, they are required to qualify or disclaim their opinion.

Auditing Standard No. 2 further requires that the auditors report on management’s assessment of the internal control. In the event of a material weakness, the auditors could express an unqualified opinion on management’s assessment so long as management properly identified the material weakness and concluded in its assessment that the internal control was not effective. If the auditors and management disagree about the existence of a material weakness, then the auditors must render an adverse opinion on management’s assessment.

Implementation

Given the extensive amount of time required to evaluate a company’s internal control procedures and then design, implement and test any additional procedures that may be required, companies should already be well on their way in evaluating and implementing these requirements and preparing for management’s internal control report and the related auditors’ attestation report.

Commentary:

? Even though the independent auditors do not need to provide their attestation report until after year-end, make sure to involve them in the ongoing evaluation

and testing processes to help ensure that there are no last minute surprises.

? Pay attention to these requirements in connection with any business acquisition, particularly at the end of the year and particularly of private companies, which

may not have the controls required of public companies. With no transition

period for newly acquired entities, any acquisition will need to be included as

part of the review of internal controls for the year in which the acquisition is

consummated. If necessary, consider adjusting the closing date.

? Companies will need to obtain the auditors’ consent to the incorporation by reference of their attestation report in connection with any registration statement

filed under the Securities Act, similar to auditor consents to the incorporation of

their report on the financial statements. As with the auditor consent regarding

their report on the financial statements, this consent regarding their attestation

report will require that management deliver an updated representation letter to

the auditors.

* * * * * * * * * * *

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If you wish to obtain additional information regarding this new PCAOB standard and related SEC regulations regarding management’s internal control report, please contact Serge Benchetrit, John S. D’Alimonte, Steven J. Gartner, Yaacov M. Gross, Jeffrey S. Hochman or the corporate partner with whom you regularly work. For help with a current investigative or regulatory issue, feel free to call litigators Stephen W. Greiner, Richard L. Posen or Michael R. Young of our Accounting Irregularities Practice Group.

Willkie Farr & Gallagher LLP is headquartered at 787 Seventh Avenue, New York, NY 10019-6099. Our telephone number is 212-728-8000, and our facsimile number is 212-728-8111. Our website is located at .

March 30, 2004

Copyright ? 2004 by Willkie Farr & Gallagher LLP.

All Rights Reserved. This memorandum may not be reproduced or disseminated in any form without the express permission of Willkie Farr & Gallagher LLP. This memorandum is provided for news and information purposes only and does not constitute legal advice or an invitation to an attorney-client relationship. While every effort has been made to ensure the accuracy of the information contained herein, Willkie Farr & Gallagher LLP does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information.

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