Task 2. Match each of the words or phrases on the left to an appropriate definition

1. Audit	a) The auditor has not obtained sufficient competent evidential matter to form an opinion on the airness of presentation of the financial statements as a whole. The necessity of disclaiming an opinion may arise either from a serious limitation on the scope of examination or from the existence of unusual uncertainties concerning the amount of an item or the outcome of a matter materially affecting financial position or results of operations
2. Internal audit	b) A systemic examination and evaluation of financial records by experts (auditors) who check the accuracy of the entries and procedures followed by the accountants who originally compiled the records
3. Internal control	c) A term used to describe financial records’ state of accuracy, authenticity, and completeness
4. Independent audit	d) The part of the auditors’ report that states the paragraph results of the auditors examination
5. Fairness	e) The auditor’s opinion is affected by procedural omissions and variations in keeping with the financial records. In this case, the auditor has to give a clear explanation of the reasons for the qualification and of the effect on financial position and results of operation
6. Scope paragraph	f) A review and evaluation of a company’s financial record by employees of the same company
7. Opinion	g) An audit performed by a highly qualified certified accountant (auditor) from outside the organization. An examination of a company’s financial statements to render an independent professional opinion that they have been presented fairly and prepared in conformity with generally accepted accounting principles
8. Unqualified opinion	h) The part of the auditors’ report that states the examination was made in accordance with generally accepted auditing standards
9. Qualified opinion	i) The auditor feels that the financial statements do not present fairly the financial position or results of operations in conformity with generally accepted accounting principles. This kind of opinion is required in any report where the exceptions to fairness of presentation are so evident that in the auditor’s judgment a qualified opinion is not justified
10. Disclaimer of opinion	j) The auditor satisfies himself by thorough examination of the accounting records that the financial statements are in accordance with generally accepted accounting principles on a basis that is consistent with the practices of the previous accounting period
11. Adverse opinion	k) A system that includes the plan of or ganization and all the related methods and measures adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting data, promote operational efficiency, and encourage adherence to prescribed managerial policies

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