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3. Find the following English equivalents in the text,translate sentences containing them into Ukrainian:

Незалежний аудит; бухгалтер, який пройшов сертифікацію; точність та ретельність; достовірність, автентичність інформації; компетентність аудитора; оцінка фінансового становища підприємства; відповідністьправилам бухобліку; непорозуміння; у розпорядженні аудитора; платіжна відомістъ; параграф висновок; переглядати, проводити огляд.

4. Generate all possible forms of a base word to extend youractive vocabulary:

e.g. to audit - auditing - audit - auditor - audited - audition

to examine

to evaluate

to determine

to review

to favour (Am. Favor)

to identify

to correct

to compare

to employ

to maintain

to define

to perform

5. Match the words on the left with their best synonyms onthe right:

systematic examination

to be prepared in accordance with generally accepted accounting principles

to present accounting fairly

to record and to post transactions

to set up procedures

capable to be used; at one's disposal; available

assets on hand

audit, control and check up

to make an entry

to maintain; to organize, and to establish

6. Say what you have learnt about:

  • auditing as an accounting function;

  • specialists who are allowed to perform audits;

  • types of auditing;

  • the system of internal control at businesses and organizations;

  • the tasks independent auditors solve;

  • the way how to determine the accuracy and completeness of the records;

  • the form of the accountant's judgment or opinion on the fairness of the records and accounting procedures at a business;

  • a scope and an opinion paragraphs;

  • the objectives of audit and control.

7. Ask and answer the following questions to make adiscussion:

    1. What does the auditing function of accounting involve?

    2. How has the attitude toward auditing changed in modern times?

    3. What kind of system for checking on operating and recording transactions is maintained by many organizations?

    4. What types of audit do we distinguish?

    5. What weakness exists in the internal auditing system? How can management overcome these problems?

    6. Who can carry out an independent audit?

    7. What do the independent auditors review?

    8. In what way do they express their opinion to their clients?

    9. What does a complete examination consist of?

    10. What is stated in the scope paragraph in addition to the extent of the audit?

    11. What is the auditor's opinion usually based on?

    12. Is auditing useful to a business?

8. You are given below a list of financial one-word-terms. List all terms-phrases you can associate with them:

Audit; evaluation; irregularities; principles; fairness; independence; protection; accuracy; check up; opinion

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