Question
Go to Report of Independent Registered Public Accounting Firm page 191 to 200 & answer the following questions. Read the report carefully! 1- Which are
Go to Report of Independent Registered Public Accounting Firm page 191 to 200 & answer the following questions. Read the report carefully!
1- Which are the big 4 companies (accounting firms)? Give details and also identify which company is involved in auditing process of Maaden.
2- What do you understand by attestation services? Explain the attestation services and provide the details from Annual report Maaden.
3- Who is responsible for preparing financial statements? Discuss the responsibility and functions of CPA with evidence from annual report. Also name the different Financial statements that are audited by external auditors at Maaden.
4- Why independent Auditors Report are usually required? What type of information usually discussed in this report?
5- Imagine you are the external auditor of Maaden, how do you interpret and what is your view on the going concern assumption on the financial stability of a business?
6- What does the term material misstatement mean? Did auditor indicate and highlighted any information about material misstatement in annual report?
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 2019 of Maaden?
8- Discuss the different types of audit. Which type of audit is performed at Maaden?
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 Maaden 2019. What do you understand by internal control? Discuss the auditors duty in terms of internal control system. Provide reference from annual report.
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