Английский язык: Сборник текстов. Гурская Т.А. - 26 стр.

                                         TEXT

    In most industrialized countries audit is a statutory requirement applying to limited
companies. 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, au-
dited by an auditing organization, to the local financial authority.
    Russia didn't use to have auditing firms in the past, but this profession is develop-
ing very fast. There are hundreds of auditing firms in every big city now.
    As in many other countries the auditor is responsible for ensuring that the accounts
show a "true and fair" view of the business's financial position and performance. Au-
diting 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 Due to the specific business environment, auditors in Russia
render a very wide range of consultancy services. They help their clients to prepare
tax returns and give advice on the maintenance of accounting and organization of in-
ternal control. They also give advice on how to set up businesses, how to improve an
enterprise management, explain their clients rules for performing foreign trade trans-
actions and foreign currency operations.
    In order to play their proper part in the national economic development, auditors
must be independent of pressures not simply from clients but also from government
 or state agencies. Moreover, an independent, effective and efficient profession re-
quires a strong institutional infrastructure. That's why audit chambers have been set
up throughout the country.
    The strength and prestige of a professional body depends on the professional com-
petence. To be entitled to carry out statutory audits of accounting documents in Rus-
sia, an auditor must have a license.
    As for the professional qualifications for auditors in the UK, they 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 expe-
rience and study are required to obtain a practicing certificate. The examinations cov-
er such subjects as auditing, analysis and critical assessment of annual accounts, gen-
eral 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. That is why, the UK accountants and auditors
are respected over the world.

      Answer the questions on the text:
     1. What forms of business organization are audited in Russia?
     2. Why is the auditing profession developing fast in Russia now?
     3. What responsibilities do Russian auditors take?
     4. Why is it that Russian auditors offer a wide range of services?

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