Aiming to provide a faster and convenient truncated SVD algorithm for large sparse matrices from real applications (i.e., for computing a few of the largest singular values and the corresponding singular vectors), a dynamically shifted power iteration technique is applied to improve the accuracy of the randomized SVD method. This results in a d yn a mic sh ifts-based randomized SVD (dashSVD) algorithm, which also collaborates with the skills for handling sparse matrices. An accuracy-control mechanism is included in the dashSVD algorithm to approximately monitor the per vector error bound of computed singular vectors with negligible overhead. Experiments on real-world data validate that the dashSVD algorithm largely improves the accuracy of a randomized SVD algorithm or attains the same accuracy with fewer passes over the matrix, and provides an efficient accuracy-control mechanism to the randomized SVD computation, while demonstrating the advantages on runtime and parallel efficiency. A bound of the approximation error of the randomized SVD with the shifted power iteration is also proved.