Unit 10: Auditing

USA

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.

Did you know? The following activities can be customized as desired by the teacher or school pedagogue.

Basic activities (computer-graded)

Vocabulary Builder Activity

Students will learn the following key terms and phrases:

Reading Activity: Auditing

Students will be able to correctly answer true/false questions after reading and listening to topical short articles and dialogs featuring topical vocabulary.

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… Continue

Multiple Choice Activity

Students will be able to select the best match between unit terms and their definitions.

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Listening Comprehension Activity

Students will be able to listen to short audio clips in English and then spell them correctly.

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Spelling and Recognition

Students will be able to identify and spell a vocabulary term correctly given only the definition.

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Advanced activities (optionally teacher-graded)

Speaking Practice Activity

Students will be able to speak and record 5 example sentences from the unit vocabulary and then submit them for grading by the classroom teacher. If no teacher is available or desired, then the students will be shown good examples of other students' work.

The accounts manager must verify all payments over $10,000.

The validity of the accounts was questioned by the IRS and an audit was performed.

Increased transparency in the accounting department has increased shareholder faith in the company.

The auditor chose one month at random for statistical sampling.

John has a sound knowledge of financial matters, but he has never dealt with an IRS audit, so the CFO insisted on being present during the audit.

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Writing Practice Activity

Students will write a short essay to be graded by the teacher. If no teacher is available or desired, then the student is shown previous examples of other writings by students.

Why are internal audits so important to large corporations?

Why do you think so many people fear being audited?

What kind of source information would auditors need for: An internal audit? An external audit?

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