Unit 16: Scary audit jargon

The technical vocabulary that a certain industry or profession uses

• jittery

• jargon

• prophecy

• opinion

votatile, nervous

• jargon

• rigorous

• jittery

• hitch

The phrases in an audit report are said to be when the wording of opinions varies very little from one report to another

• differentiated

• various

• uncertainty

• standardized

What the accounts are said to be when a company's financial accounts have been inspected and the

auditors have found them to give a true and fairview of the company's finances

• shut off

• signed off

• closed down

• turned down

Extra information which the directors of a company give in the notes to the financial report

• disclose

• disclosing

• disclosure

• disclosed

A company which does business using the internet or provides an internet service

• dotcom company

• startup company

• bubble company

• internet company

A charge, complaint or claim against a company or person made in a court of law. Several audit firms suffered these after the dotcom crash in 2001.

• lawyer

• law-case

• lawsuit

• legal

When auditors are satisfied that a company is in good financial health for the coming year

• clear opinion

• disclaimer opinion

• unqualified opinion

• clean opinion

An arrangement made by a bank for its customers which lets them borrow money

• loan

• credit

• bank facility

• mortgage

An official instruction given to a person or organisation by a bank, allowing them to do something

• bank mandatory

• bank requirement

• bank transaction

• bank mandate