Auditing progress check

An auditor’s report is written …

• in a letter format and is one page long

• in the form of an essay and is one page long

• in the form of a chart and is fives pages long

Private auditors …

• work on budgeting and performance evaluation

• perform tax and consulting work for corporations

• are independent contractors

… is issued if the statements are not presented fairly or do not conform to GAAP.

• Unqualified opinion

• Adverse opinion

• Unfavourable opinion

Many public auditors are …

• CFOs

• CPAs

• COOs

The quality of being correct and without mistakes is ...

The process of allocating finite resources to the prioritized needs of an organization is ..

An auditor's opinion is included in ...

• Balance sheet

• Income statement

• Annual report

• Interim report

Internal audit work focuses on ...

• promoting efficiency and effectiveness

• assuring the integrity of the information

• safeguarding assets

• recording sales and purchases

• keeping track of accounts receivable and accounts payable

Government auditors detect ...

• fraud

• financial ratios

• investment opportunities

• embezzelement

Investigators of legal and financial documents that are hired to look into possible suspicions of fraudulent activity within a company are ...

• Private auditors

• Forensic auditors

• Management accountants

• Public auditors