3 Match the words and phrases in the box with the correct definition:

1) a detailed inspection of the accounts of an organization by a professionally trained person; 2) an audit carried out by a person not employed by the company to check that the accounts are accurate and honest; 3) a professionally trained person who examines the accounts of an organization to check that they are true and correct; 4) a review and evaluation of a company's

financial records by employees of the same company; 5) an organization's established methods of carrying out its operating and recording functions; 6) an analysis, study; 7) the books, files or computer records where a company's accounts are kept; I, a report showing profit and loss for a business or institution.

4 Choose the correct word from the box to complete the gaps. Translate the sentences into Ukrainian:

accurate; an evaluation; fiscal affairs; financial records; outside audits; an internal audit; the books; independent accountants; the accounting; audit; the auditors

1 ... were called in to inspect the accounts. 2 An accountant did a year-end ... of our financial records. 3 ... firm audited the company every year. 4 ... are not employees of the organization whose books they examine. 5 The tax inspector wants to examine .... 6 Many companies employ their own accountants to maintain .... 7 ... are a normal and regular part of business practice. 8 Auditors review ... and report to the management on the current state of the company's ... in the form of an Auditor's Report. 9 An accountant did ... of the company's financial health. 10 The numbers in the report are ....

5 True or false?

1 The people who keep the financial records for an organization are the same people who carry out an audit of those records. 2 An external auditor is only invited when a company is having financial difficulties. 3 The more internal controls an organization has, the more efficient is its performance. 4 Many companies nowadays employ accountants of their own to maintain a continuous internal audit. 5 Internal auditors try to make sure that the operating sections of a company follow the policies established by management. 6 The reports of internal auditors always reach the people in management. 7 CPAs seldom do independent auditing. 8 Only very large corporations need external audits.

6 Fill in the missing prepositions: (of (5), by, from, out). Translate the text into Ukrainian.

An auditor is an accountant, independent ... a company, who is appointed ... the shareholders to ensure that the annual accounts give a true and fair view ... the state ... affairs ... the company. The accounts should be prepared using the accepted methods ... accountancy. Auditors will also try to ensure that the organization's accounting systems do not allow any fraud or stealing to occur ... the company's funds. Large organizations might carry ... an internal audit themselves to ensure that their accounting practices and procedures are accurate and efficient.