Para melhorar ainda mais a compreensão do inglês, vamos pôr em prática o que sabemos e tentar resolver algumas questões do concurso da Controladoria-Geral da União.
Unpicking the fiscal straitjacket
Never has a straitjacket seemed so ill-fitting or so insecure. The euro area’s “stability and growth pact” was supposed to stop irresponsible member states from running excessive budget deficits, defined as 3% of GDP or more. Chief among the restraints was the threat of large fines if member governments breached the limit for three years in a row. For some time now, no one has seriously believed those restraints would hold. In the early hours of Tuesday November 25th, the euro’s fiscal straitjacket finally came apart at the seams.The pact’s fate was sealed over an extended dinner meeting of the euro area’s 12 finance ministers. They chewed over the sorry fiscal record of the euro’s two largest members, France and Germany. Both governments ran deficits of more than 3% of GDP last year and will do so again this year. Both expect to breach the limit for the third time in 2004. Earlier this year, the European Commission, which policies the pact, agreed to give both countries an extra year, until 2005, to bring their deficits back into line. But it also instructed them to revisit their budget plans for 2004 and make extra cuts. France was asked to cut its underlying, cyclically adjusted deficit by a full 1% of GDP, Germany by 0.8%. Both resisted.Nov 27th, 2003
The Economist Global Agenda
21 - According to the text, the euro pact
A) has been preventing excessive budget deficits.
B) has been devised by France and Germany.
C) aims at restraining the euro’s economic growth.
D) has redressed the euro’s fiscal balance.
E) sets parameters related to fiscal deficits.
22 - In “if member states breached the limit” (paragraph 1), “breached” could best be replaced by
23 - In paragraph 2, Germany and France are referred to as
A) countries which have failed to follow fiscal rules.
B) leading forces within the European Central Bank.
C) countries which brought their deficits below 3%.
D) members of a coming European Union.
E) countries whose fiscal balance is remarkable.
24 - According to the author, Tuesday November the day on which the euro pact
A) was at last enforced.
B) was finally signed.
C) proved its ineffectiveness.
D) finally acquired legitimacy.
E) was at last respected.
Brazil’s Central Bank Rate Vote Underscores Division
Two of the Brazilian central bank’s nine-member board called for a smaller interest rate cut last week than policy makers approved, underscoring disagreement over the pace of a recovery in Brazil and its effect on inflation.The vote, the first show of dissent since Henrique Meirelles became the bank’s president, may signal that the bank may be less inclined to lower the benchmark lending rate in coming months after cutting it six times since June.The board said in minutes of the meeting distributed today that its vote to lower the overnight target rate to 17.5 percent from 19 percent was aimed at giving a boost to an economy that suffered its biggest back-to-back quarterly contractions in seven years between April and September.
Internet : http://www.bloomberg.com Accessed in Nov/2003
25 - In paragraph 1, the text refers to an interest rate cut which
A) has been the lowest since 2002.
B) has been the first one since April 2003.
C) has not been approved by the World Bank.
D) was not established by consensus.
E) reflects the consumers’ expectations.
26 - In paragraph 3, the author refers to
A) the present Brazilian economic boom.
B) an interest rate increase of 1.5%.
C) consecutive economic contractions.
D) the highest interest rate increase since April.
E) a coming decision to lower target rates.
27 - According to the text, Brazil’s central bank rate vote demonstrates
28 - The text
A) underscores the sudden recovery of Brazil’s economy.
B) reports decisions concerning interest rate reductions.
C) points out the sharp fall in Brazil’s inflationary rates.
D) refers to a decision supported by the World Bank.
E) emphasizes the urgent need of interest rate cuts.
Responsibility of Accountants and Auditors
How can accountants and auditors help in this anticorruption drive? First of all, accountants are the first set of gatekeepers to ensure that transactions are valid, at arm’s-length, captured, and properly recorded according to established standards. Secondly, “as professionals with a duty to protect the public interest, they are bound by rigorous codes of professional and personal ethics calling for the highest levels of integrity and objectivity”. Thirdly, “their key strategic positions within an enterprise or organization – whether in an internal position or as an external auditor or adviser – mean that they very often have access to highly privileged and confidential information.”(Frank Harding: “Corruption: Rising to the Challenge”, IFAC – May/1999.)
Both accountants and auditors perform their respective functions on the bases of national and international standards of practice which have clear guidelines in identifying, for instance, indicators of fraud and other irregularities, and reporting these to the highest levels of authority.
Internet: http://www.guyanajournal.com Accessed in Nov/2003
29 - According to the author, integrity and objectivity are
A) regarded as questionable principles.
B) considered disruptive elements.
C) seen as disregarded principles.
D) to be observed and maintained.
E) considered antagonistic principles.
30 - According to the text, accountants and auditors
A) play no role in fighting corruption.
B) may investigate bribery and nepotism.
C) seldom participate in the anticorruption effort.
D) are expected to restrain transparency and accountability.
E) are expected to help curb corrupt practices