Part B (70 marks)

Access the Huawei web page at: Huawei Annual Report - Huawei then download the annual report 2020 in PDF Form.

Use the annual report to answer the following questions.

Go to Report of Independent Auditors Report& answer the following questions. Read the report carefully.

1. The main responsibility of auditor is to express an opinion on whether management has fairly presented the information in the financial statements. Give some introduction on the functions of external auditor and provide reference from report. Explain the big 4 companies under auditing profession. Also name the external auditor of Huawei.

(10 marks)

2. CPAs provide a wide array of information enhancement services referred to as assurance services. Discuss? Your answer should include the case of Huawei auditors report.

(10 marks)

3. Who is responsible for preparing financial statements of Huawei? What is the external audit report on the presentation of financial statement of Huawei? Name the different financial statements that audited by external auditors. (10 marks)

4. Discuss the difference between the Audit Committee Report and Auditors Report. What is the basic information discussed in these two reports?

(10 marks)

5. Are auditors responsible for frauds? Discuss the auditor responsibility for the detection of errors and frauds? Support your answer from the Annual report of Huawei.

(10 marks)

6. Reliable accounting and financial reporting aid 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 Huawei?

(10 marks)

7. Write a summary on auditors report and evaluation about Huawei performance, based on your understanding.