Vocabulary Exercises. to do an audit, proportion, to support, manufacture, to provide, share, to estimate, to control, to evaluate

I. Match the synonyms:

to do an audit, proportion, to support, manufacture, to provide, share, to estimate, to control, to evaluate, a part, to manage, production, to maintain, to inspect, percentage, to supply.

II. Match the antonyms:

to increase, assets, expends, to save, to purchase, profit, private, debit, to spend, to lend, liabilities, to sell, public, revenues, direct, to borrow, to decrease, loss, indirect, credit.

III. Find the equivalents:

1. auditor a. that part of the capital of a company held by a member.

2. auditing b. a detailed record of all money that a person receives and

spends.

3. accuracy c. a person who carries out an audit.

4. efficiency d. owner of investment holdings in a corporation.

5. stockholder e. the inspection of an organization’s annual accounts.

6. account f. duty

7. responsibility g. production of a desired or satisfactory results.

8. share h. be compiled without error, with exactness and correctness.

IV. Joint the halves:

1. Both profit and non-profit organizations ….

2. Public accountants are those who ….

3. To do an audit, there must be information in a ….

4. The final stage in the audit process is ….

5. The function of accounting is to provide certain types of ….

6. Auditing is the process of recording, classifying and summarizing economic ….

a. serve the general public and collect professional fees for their work.

b. the audit report.

c. quantitative information that management can use to make decisions.

d. verifiable form and some standards by which the auditor can evaluate the information.

e. events in logical manner for the purpose of providing financial information for decision-making.

f. deal with budgets, payrolls, rent payments, and the like.

V. Answer the questions:

1. What is an auditor?

2. What do auditors deal with?

3. What is the difference between internal and external auditors?

4. What main concepts should be considered by the auditor?

5. Why is it necessary to receive an independent auditor’s opinion?