Unit 10 — Auditing

In larger firms, audits are often used, as a control for the work of the accounting department. In this unit, we discuss several kinds of internal and governmental audits.

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Vocabulary Builder Activity

Students will learn the following key terms and phrases:

Abnormality Act on Adhere to Audit Control Defraud Itemization Objectivity Outcome Sloppy Sound Statistical sampling Transparency Validity Verify

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Reading Activity: Auditing

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There are few words for an accountant, which cause as much concern as the word ‘audit’. Audits, whether internal or external, carefully study the accountants work and identify any errors or abnormalities. In large firms audits are often used as a control for the work of the accounting department, in these firms the accounts departments may deal with millions of dollars a month and without a…

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