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Review 4
Review 4
801A
Review IV
II. MATCH these three roles ( the expressions are metaphors) with their best
definition:
Roles: 1.Watchdog; 2.Bloodhound; 3.Whistle-blower.
Definitions: a.Responsibility for overseeing a companys finances; b.Responsibility
for informing the authorities of malpractice; c.Responsibility for tracking down the
instigators of malpractice.
1-a / 2-c / 3-b
III. MATCH the words in the first list with their best synonym in the second one:
1.to alert; 2.to stumble upon; 3. to spot; 4. To give a nod and a wink; 5.pro-active;
6.to spell out; 7. to see fit; 8.impunity; 9.to flout; 10.solace; 11.to impinge upon;
12.a gulf.
a.to affect; b.consolation;c.to consider right; d.to state clearly; e.tocome across; f.to
warn; g.to notice; h.to inform indirectly; i.initiating; j.to openly ignore; k.an abyss;
l.freedom from punishment.
1-f / 2-e / 3-g / 4-e / 5-I / 6-d / 7-c / 8-h / 9-j / 10-b / 11-a / 12-k
5.Can you mention the audit tests used by the auditors to form an opinion on the
financial statements?
Compliance tests on systems and substantive tests.
6.Which are the U.K. auditing standards?
7.Are there any differences between work performed by the auditors and that
performed by the reporting accountants?
The auditors are concerned only with those risks and control weaknesses that may
result in a material miss-statement in the financial statements. The reporting
accountants on the other hand are concerned with the much wider range of
inherent risks.
8.Can you specify the control types examined by the auditors and the reporting
accountants?
The auditors may be content to rely on detective controls, which provide assurance
that any misappropriation or loss is properly reflected in the financial statements.
The reporting accountants may be more concerned with preventative controls,