1. The people who keep the financial records for an organization are the same people who carry out an audit of those records.
2. An external auditor is only invited when a company is having financial difficulties.
3. The more internal controls an organization has, the more efficient is its performance.
4. Many companies nowadays employ accountants of their own to maintain a continuous internal audit.
5. Internal auditors try to make sure that the operating sections of a company follow the policies established by management.
6. The reports of internal auditors always reach the people in management.
7. CPAs seldom do independent auditing.
8. Only very large corporations need external audits.
Ex.3. Sum up what you remember about:
s auditing
s internal audits
s independent audits
Grammar Revision
| Modal Verbs with the Perfect Infinitive
In the previous lesson we looked at how the modals can, may, might, must, could, should, ought to are used to talk about possibility, probability and certainty in the present and future. Here we shall look at how these modals are used to talk about the same ideas in the past.
Must + Perfect Infinitive expresses the speaker’s certainty that something has happened.
If she is not here by now, something must have happened.
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| Could/may/might + Perfect Infinitive express the idea that there is a possibility that something has happened.
She looks miserable. She could /may/might have lost her job.
(perhaps she has lost her job)
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| Can’t /couldn’t + Perfect Infinitive express the speaker’s certainty that something has not happened.
She can’t/couldn’t have gone; her coat is still here.
May not/might not + Perfect Infinitive express the idea that it is possible that something didn’t happen.
Nobody is in the office. They may not/might not have received our message.
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| Should/ought to + Perfect Infinitive indicate that an action considered desirable was not carried out.
You ought to/should have warned your employer.
Shouldn’t/oughtn’t to + Perfect Infinitive indicate that an action considered undesirable was carried out.
You shouldn’t /oughtn’t to have told her this news.
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