Auditing

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 must be used at all accounting steps;

· accounts can be compared with those of similar companies;

· the proper amount of information has to be 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.

8. Определите тематику текста «B», выбрав из предложенных вариантов 2 правильных, расположите их в последовательном порядке и переведите их.

This text …

· speaks about auditing.

· explains the six basic elements of any crime.

· explains principles the auditor should follow performing his work.

· groups criminal behavior into six types.

· explains why money-laundering requires particular attention.

· explains why it is so difficult to fight economic and financial crime.

9. Перепишите вопросы к тексту «B» и письменно ответьте на них.

1. What are independent auditors employed by companies for?

2. Why mustn't auditors hold shares in companies for whom they work.?

10. Письменно переведите текст «B».

ЗАДАНИЯ К ТЕКСТУ «C».