44)United Power Company SAOG is a public listed company in Oman under the Commercial Companies Law of 1974 of the Sultanate of Oman. Baker Tilly MKM (Oman) LLC , the auditors , has stated that the financial statements has been fairly presented the financial performance and the cash flow for the year.

United Power Company SAOG has to prepare the financial statement to share it with the stakeholders. The preparation of financial statements is the primary responsibility of

Internal auditors of United Power Company SAOG

None of the given options

Baker Tilly MKM (Oman) LLC

Board of Directors

60)Which of the following is a valid reason for testing the operating effectiveness:

Review the results for periodic reconciliation

Authorization based on information provided by the management observations

Authorization based on the information provided by internal source

Communicate findings and recommendations

61)Which one of the following fundamental ethical principles is under threat when the auditor does not act diligently and in accordance with the applicable technical and professional standards when providing professional services?

Independence

Confidentiality

Professional competence and due care

professional skepticism