Analysis of business performance : oral comprehension

https://www.youtube.com/watch?v=pkKO9ZNyOIc

Answer the following questions:

1. What is KPMG?

_______KPMG is a audit company that provide an independent review of how a company

operates._______________________________________________________

2. What is the common belief regarding audits?

______IRS agents arriving unannounced calculators in hand ready to through boxes of

invoices receipts and notes . __________________________

3. Who can be at the origin of audits?

Can be securities and Exchange commissions

4. What is the goal of audits?

To Evaluate where money is coming from where it’s going and what’s it’s doing each step of
the way

5. Indicate what KPMG`s expertise is.

Comparing the documents the company uses in their day to day operations against what
they have recorded in their financial statements.

6. What may a company gain from auditing services?

_Company that go through an audit have the opportunity to gain valuable inight into how
their business is performing.___________________________________________________

7. What conditions are necessary to become an auditor?

To think critically, to understand what business decisions drive the transactions you’re
auditing, to understand of motivation for each
transaction.__________________________________________________________________
_

8. What are the factors that determine the length of time audits will last?

_Depending on the size of the client and the complexity of the

project._____________________________________________________________________
__

9. What is the meaning of "annuity clients"?

_meaning work with clients year after

year._______________________________________________________________________

10. What do auditors do when in charge of an audit project?

They compare the documents the company uses in their day- to- day operations against
what they’ve recorded in their financial
statements.__________________________________________________________________
_________

11. Why are auditors contacting vendors?

To ensure that number is listed and the purchase orders are

accurate.____________________________________________________________________
_______

12. What does an audit report contain?

It contains the full report on all the documents and informations that was proceeded by the
auditor and than auditor state their opinion as to the accuracy of company
statements.__________________________________________________________________
_______

13. Do auditors only check the financial statements of the company that hired them?

Not only. Client of company could purchase another company requiring to do an audit of
that company and it’s
assets.______________________________________________________________________
___