外文翻译关于内部控制的意见Word下载.docx

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Withincreasingfrequency,auditorshearthesuggestionthattheyshouldexpressanopinionontheeffectivenessofaclient'

sinternalcontrolsystem.Advocatesofthisextensionoftheattestfunctionarequicktopointoutthattherearealreadyinstancesinwhichindependentauditorsarereportingpubliclyontheeffectivenessoftheirclients'

systemsofinternalcontrolandthatsomegovernmentagencies,includingtheSecuritiesandExchangeCommissioninsomeeases,requireareport.Opponentsofattestation-typereportscounterthatanyreportoninternalcontroleffectivenesswouldbemisleadingtothepublicandtheybelievethatthereisasignificantdifferencebetweenpresentregulatoryagencyreportingrequirementsandanopiniononinternalcontrol.Thisarticlereviewsthepresentreportingpractices,considersthedesirablefeaturesofthereportsaswellastheassociatedhazards,and,finally,proposessomeofthequestionswhichmustbeansweredbeforeanyfinaljudgmentcanbemade.

THECURRENTSTATUSOFREPORTS

Althoughauditors'

reportsdoinseveralcircumstancescontainreferencestointernalcontrol,thenatureoftherepresentationsmadeconcerningeffectivenessdiffersignificantly.

Largebanks.Opinionsoninternalcontrolare,infact,givenintheeaseofafewlargebanksandtheopinionsdoappearinpublishedannualreports.Theseopinionsaresometimesrequestedbytheboardofdirectors.Forexample,thefollowingopinionappearsinthe1969annualreportofalargeNewYorkbank,asathirdparagraphintheindependentaccountant'

sstandardshort-formreport:

Ourexaminationincludedanevaluationoftheeffectivenessofthehunk'

sinternalaccountingcontrols,includingtheinternalauditing.Inouropinion,lieproceduresineffect,togetherwiththeexaminationsconductedbythebank'

sinternalauditstaff,constituteaneffectivesystemofinternalaccountingcontrol.

Opinionsarerenderedforafewotherbanks,buttheyareessentiallythesameasthequotedopinion.

SECrequirements.SECFormX-17A-5,whichrequiresthattheindependentauditormakecertainrepresentationsconcerninginternalcontrol,mustbefiledannuallybymostmembersofnationalsecuritiesexchangesandeverybrokerordealerregisteredpursuanttoSection15oftheSecuritiesExchangeActof1934.

Inaddition,theSEC'

sRule17a-5（g）requiresthattheindependentauditor'

sreportcontain"

astatementastowhethertheaccountantreviewedtheproceduresforsafeguardingthesecuritiesofcustomers."

Moreover,manyexchangesrequirethatthereportindicatethatareviewhasbeenmadeof"

theaccountingsystem,theinternalaccountingcontrolandproceduresforsafeguardingsecuritiesincludingappropriateteststhereoffortheperiodsincethepriorexaminationdate,"

and,evidently,theSECstaffprefersthattheaccountantincludelanguagesimilartothatrequiredbytheexchangesinallreportsfiledwiththeSEC.Thescopeparagraphofthereportusuallyreadsasfollows:

Wehaveexaminedthestatementoffinancialconditionof（name）asof（date）.Ourexaminationwasmadeinaccordancewithgenerallyacceptedauditingstandards,andaccordinglyincludedareviewoftheaccountingsystem,theinternalaccountingcontrolandproceduresforsafeguardingsecuritiesandsuchteststhereofsincethepriorexaminationdote,（date）andoftheaccountingrecordsandsuchotherauditingproceduresasweconsiderednecessaryinthecircumstances.（Emphasisadded.）

Toavoidconfusionastothetypeofreviewmade,itisrelatedto"

generallyacceptedauditingstandards"

bytheword"

accordingly."

Notethattherequirementismetwithouttheexpressionofanopiniononadequacysincethereportmerelystatesthatareviewhasbeenmade.

Iftherearematerialinadequaciesininternalcontrol,theindependentauditorisrequiredtoreportthemtotheSEC,butaccordingtoRuleI7a-5（b）（3）inadequaciesmaybereportedinaconfidentialsupplementaryreport.Ifnomaterialinadequaciesarefound,arepresentationtothateffectisneitherrequirednorexpected.ThereforereportstotheSECdonotconstitutetheexpressionofanopiniononinternalcontroleffectivenessand,inthisrespect,differsignificantlyfromthereportsissuedforafewlargebanks.

Othergovernmentagencies.Governmentagenciesdifferwidelyinthetypeofreportrequiredoninternalcontrol.PerhapsthemoststringentrequirementisthatadministeredbytheOfficeofEconomicOpportunity.Section243oftheEconomicOpportunityAmendmentsof1967requiresanauditor'

sappraisalofagrantee'

saccountingsystemandinternalcontrolsbeforeasubstantialamountofOEOgrantfundshavebeenexpended.Theauditor'

sreportmustincludethefollowingopinion:

Theaccountingsystemandinternalcontrolsofthe（granteeanddelegateagencies）areconsidered（adequate,inadequate）tosafeguardtheassetsofthegrantee,checktheaccuracyandreliabilityofaccountingdata,promoteoperationalefficiencyandencourageadherencetoprescribedmanagementpolicies.

SomeagenciesrequireareportverysimilartothatrequiredbytheSECforbrokers.TheFederalHomeLoanBankBoard,forexample,requiresthattheauditor'

sreportindicatethatinternalcontrolhasbeenreviewedandrequiressubmissionofacopyofthemanagementlettercontainingcommentsaboutanyweaknessesinthesystemandrecommendationsfortheircorrection.

THEDESIRABILITYOFREPORTINGONINTERNALCONTROL

Thosewhobelievethatreportsoninternalcontrolaredesirabledosoprimarilyfortworeasons.First,theybelievesuchreportswouldbeusefultothepublicinevaluatingmanagement'

sperformanceinthisareaofitsresponsibility.Someregardsuchreportsasafeasibleandlogicalfirststeptowardreportsonmanagement'

sperformanceinotherareas.

Thesecondreasonadvancedbyadvocatesofreportsoninternalcontrolisthatthesereportswouldprovideanadditionalbasisforrelianceonuneditedinterimfinancialstatements.Inviewoftheincreasingimportanceofquarterlyandotherinterimstatements,theadvocatesbelievethatsuchreportswouldprovideausefulpublicservice.Opponents,ontheotherhand,areconcernedthatsuchreportswouldbeadisservicetothepublicbecauseoftheriskofmisunderstandingandunwarrantedreliance.Thus,thecruxofthequestionconcerningdesirabilityofreportingoninternalcontrolturnsonanevaluationofthepotentialbenefitsandhazardstothereadersofsuchreports.

HAZARDSOFREPORTINGONINTERNALCONTROL

Ifreportingoninternalcontrolholdspotentialbenefitfortheprofessionandreportusers,whathasimpededwholeheartedassumptionofresponsibilityforreportingoninternalcontrol?

First,thereisreallynosuchthingasanoverallevaluationofinternalcontrol.Anauditorviewsinternalcontrolintermsofspecifictypesoferrorsandirregularitieswhichmayoccurbecauseofweaknessesintheproceduresconcerningspecificclassesoftransactionsandrelatedassets.Unlessinternalcontrolisexcellentineveryrespect,generalizationsabouttheadequacyoftheoverallsystemareextremelydifficulttomake.Strengthsinoneareaofinternalcontroldonotnormallyoffsetweaknessesinanotherarea.Weaknessesincashreceiptsproceduresarenotmitigatedbystrengthinhandlingofcashdisbursements,andadequatecollectionprocedurescannotsubstituteforineffectivecontroloverbillingprocedures.

Secondandcloselyrelatedtothedifficultiesofanoverallevaluation,thereistheincomparabilityofanopiniononthefinancialstatementstakenasawholeandanopinionontheinternalcontrolsys-temtakenasawhole.Weaknessesininternalcontrolcanhaveapotentialmaterialimpactonoperations,buttheirmaterialitycannotbeevaluatedinthesamemannerthataknowndollaramountoferrorcanbewithrespecttothefinancialstatementstakenasawhole.Therefore,itisdifficulttoformulatethelanguageofastandardreportfromwhichdeviationscouldbeconsideredashavingaspecialandknownsignificance.

Third,therearemanyinherentlimitationsontheeffectivenessofanysystemofinternalcontrol.Certainactionsarenotsubjecttocontrolwithinthescopeofinternalcontrolsystems.Controlproceduresthatdependprimarilyontheseparationofincompatibledutiescanbecircumventedbycollusion.Managementofficialswhoarechargedwithadministeringtheinternalcontrolsystemareinapositiontoperpetrateintentionalerrorsandirregularitiesin.spiteofthecontrolsthatmightpreventsimilaractionsbylowerrankingemployees.Perhapsthemostcriticalinherentlimitationisthefactthatperformanceofman>

controlproceduresisdependentonhumanjudgmentandvolitionandtherearemanypossibilitiesforerrorarisingfrommisunderstandings,mistakes,carelessness,distractionorfatigue.

Finally—partiallyasaconsequenceoftheotherproblems-reportsoninternalcontrolcreateasignificantpossibilityofunwarrantedandmisleadinginferencesonthepartofusers.Prominentamongpossiblemisunderstandingsistheunwarrantedprojectionoftheopinionintofutureperiodsandtheconcomitantunduerelianceonuneditedfinancialinformation.Thereviewandtestsofinternalcontrolpertainonlytotheperiodcoveredduringtheexamination.Inthefuture,conditions,proceduresandcompliancemaychange.Manychangesmayoccurtocausevariationsincompliancewithestablishedprocedures,includingnewemployeesoremployeestakingovernewresponsibilities,unusualfluctuationsinbusinessvolumethatcauseemployeesto