Financial Reporting on the Internet (OOREDOO OMAN)
Access the OOREDOO OMAN annual report at below web page: ooredoo.om > About Ooredoo > Investor Relations > Financial Information > Annual Reports then download the OOREDOO OMAN Annual report 2020 in PDF Form.
Use the annual report to answer the following questions.
Go to Report of Independent Registered Public Accounting Firm & answer the following questions. Read the report carefully!
1- CPAs provide a wide array of information enhancement services referred to as assurance services. Discuss? Your answer should include the case of OOREDOO OMAN auditors report. (10 marks)
2- A CPA firm does not guarantee the financial soundness of a client when it renders an opinion on financial statements, nor does the CPA firm guarantee the absolute accuracy of the statements. Yet the CPA firms opinion is respected and accepted. What information disclosed by OOREDOO OMAN CPA regarding financial soundness. (10 marks)
3- Who is responsible for preparing financial statements? Discuss the responsibility and functions of CPA with evidence from annual report regarding auditing of financial statements. Also name the different financial statements that are audited by external auditors at OOREDOO OMAN. (10 marks)
4- Why independent Auditors Report are usually required? What type of information usually discussed in this report? Provide details from annual report of OOREDOO OMAN.
(10 marks)
5- Imagine you are the external auditor of OOREDOO OMAN; how do you interpret and what is your view on the going concern assumption on the financial stability of a business? (10 marks)
6- What are the different parts or sections of audit report? Explain these parts that what type of information discussed by CPA of OOREDOO OMAN in these sections (parts)?
(10 marks)
7- Reliable accounting and financial reporting aids society in allocating resources in an efficient manner. Explain why audits are demanded by society? Support your answer from the Annual report of 2020 of OOREDOO OMAN? (10 marks)
8- Discuss the different types of audits. Which type of audit is performed at OOREDOO OMAN? (10 marks)
9- What are the basic audit procedures usually used by external auditors? Also provide evidence from Annual report which procedures were used by the auditor for fair value estimation of OOREDOO OMAN 2020. (10 marks)
10- What do you understand by internal control? Discuss the auditors duty in terms of internal control system. Provide reference from OOREDOO OMAN annual report.
(10 marks)
