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Please brother do the solution in good conscience. Please.. I will not forget you really Audit and Assurance 1. Mohammed is working as an auditor
Please brother do the solution in good conscience. Please.. I will not forget you really
Audit and Assurance
1. Mohammed is working as an auditor in ABC Audit firm. He was assigned to audit the accounts of Oman Telecommunications Corporation. While conducting audit, Mr. Mohammed obtained the list of customers and their addresses from the Omantel. Mohammed's uncle Khalid is working as manager in UAE money exchange which provides currency exchange and money transfer services to its customers. Mr. Khalid wanted to increase the number of customers for his exchange and requested his brother to provide the list of Omantel customers. Mohammed could not refuse the request of his uncle as his uncle helped for his studies in the past. So, he provided the list of customers to his uncle and told him that not to reveal this information to anyone outside. Required: Which two fundamental principles of professional ethics were violated by Mr. Mohammed in the above case? Justify your answer by explaining the reasons. (4 Marks) 2. What are the threats to fundamental principles are best described in the following cases? Justify your answer with sufficient explanation. (4 Marks) (a) Sohar Company hired the services of KMT Audit Firm to perform financial statement audit for the year 2020. KMT Audit firm appointed Mr. Bakhit as the main auditor to audit the accounts of Sohar Company. Mr. Bakhit and the Finance Manager of Sohar Company Mr. Abdullah were colleagues when they were working in Emerald Finance Company five years back. . (b) Mr. Abdulrahman is working as a General Manager in HML Company. He created some fake purchases of raw material transactions and misappropriated the cash with the help of purchase officer of the company. He requested his Accountant Mr. Ali to manipulate the accounting records to hide this fraud. He also informed that he will terminate Mr. Ali if he won't follow his instructions
Please brother do the solution in good conscience. Please.. I will not forget you really
Audit and Assurance
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