QUESTION 2: (5 MARKS) An audit report prepared by Ahmed and Haitham, CPAs, is provided below. The audit for the year ended December 31, 2019 was completed on May 1, 2020, and the report was issued to Wathba Corporation, a private company, on May 15, 2020. List any deficiencies in this report. Do not rewrite the report. We have examined the accompanying financial statements of Dalton Corporation as of December 31, 2018. These financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on these statements based on our audit. We conducted our audit in accordance with generally accepted accounting principles. Those principles require that we plan and perform the audit to provide reasonable assurance about whether the financial statements are free of misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. We believe that our audit provides a reasonable basis for our opinion. In our opinion, except for the effects of not capitalizing certain lease obligations that should be capitalized in order to conform with generally accepted accounting principles, the financial statements referred to above present accurately the financial position of Jacob Corporation as of December 31, 2019, in conformity with accounting principles generally accepted in the United States of America. Ahmed and Haitham, CPA March 2019