XVII. Answer the following questions:

1. How can you define auditing?

2.What is the origin of the word «audit»?

3. Who is usually auditing done by?

4. What is the aim oflinternal auditors?)

5. What are the duties of independent accountants?

6. What are the most famous companies that compete in the financial audits arena?

XVIII. Translate the following sentences with modal verbs into Ukrainian:

1. You may use this information if you want.

2. This company may have asked our bank for a loan.

3. We could get all the information concerning this company last time.

4. He could have verified these accounts.

5. Suppliers of goods must be sure that these goods will be paid for.

6. This company must have designed its own chart of accounts.

7. Any business should be regarded as an economic entity.

8. You should not have opened an account with this bank.

XIX. Supply the necessary modal verbs to the following sentences:

1. Accounting ……………._ be defined as a form of service.

2. Different users ………… make informed j udgements and decisions with the help of accounting information.

3. Accounting information …………..be produced at the end of accounting period.

4. Accounting information ……………. be irrelevant, otherwise it provides no benefits to users and doesn't justify the costs of producing it.

5. Competitors are interested in accounting information. They ……………to have this information to predict their future strategies.

6. When the desirable qualities off financial information are in

conflict with one another, some compromise between them …………….to be made.

7. ………..you provide some information concerning the ability of this business to pay short-term obligations?

8. Accounting information …………..be set in a clear and logical manner and it …………be unnecessarily complicated.

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