Auditing

1. The profession of the auditor is considered to be one of the most prestigious and well-paid ones. Auditors are accountants who analyze financial statements of the company and their responsibility is to express an opinion as to whether the accuracy of the company's financial reporting meets the requirements imposed by the government. In general, auditors deal more with operating efficiency and managerial effectiveness than with the accuracy of the accounting data.

2. Internal auditors are known to be hired by the company in order to help to identify accounting weakness and correct them before significant errors occur. They are often analytically minded people who make flowcharts of accounting systems and evaluate these flowcharts to suggest improvements in division of labour, paper flow, cash control, or other accounting responsibilities.

3. Independent auditors are employed by a company's board of directors to supply the stockholders with the results of checking the financial statements, in order to prove that annual reports are fair representations of the financial position of the company. Performing his work the auditor should follow several principles and assumptions: the company's accounts must represent a true financial position; generally accepted accounting principles have been used at all accounting steps and accounts can be compared with those of similar companies; the proper amount of information is disclosed in the financial statements. As a result, the auditor's opinion should be based only on facts and it must be objective. Auditors are expected to maintain a relationship of strict independence and professionalism with the companies for whom they work, so they mustn't hold shares in these companies. On the one hand, the auditor should respect the client's confidence, so having the access to some private information, the auditor must not spread it outside. On the other hand, he should think of public interests, that is why he must publish his opinion in a standard form and the information is to be clear to the stockholders. But he must always carry out his duties under the law and inform authorities about fraud.

Вправа V. Прочитайте З абзац тексту і дайте письмову відповідь на запитання:

Why is it necessary to receive an independent auditor's opinion?

I ВАРІАНТ

Вправа І. Перепишіть та письмово перекладіть наступні речення. Пам'ятайте, що об'єктний та суб'єктний інфінітивні звороти відповідають підрядним реченням:

1. This factory is known to produce consumer goods.

2. She proved to be a good book-keeper.

3. The devaluation of the pound sterling is said to have led to prices' rise of all goods imported into Great Britain.

4. The balance sheet is likely to be ready at the end of the month.

Вправа II. Перепишіть та письмово перекладіть наступні речення, звертаючи увагу на різницю в перекладі залежного та незалежного дієприкметникових зворотів:

1. Having built a new automobile plant, we increased the output of cars and buses.

2. Travelling in America, they saw a lot of interesting things.

3. The lecturer made a report concerning the latest achievement in economics.

Вправа III. Перепишіть та письмово перекладіть наступні умовні речення:

1. It would be impossible to solve many problems without using computers.

2. If the plant had introduced the latest achievements in technology, it would have increased its labour productivity.

3. If the director were in, he would communicate with you.

Вправа IV. Прочитайте текст. Перекладіть письмово на українську мову 1, 2 абзаци тексту: