The TMA Questions

Jazeera Airways

Jazeera Airways K.S.C.P. (the Parent Company) was incorporated by Amiri Decree on 3 March 2004 as a Kuwaiti Public Shareholding Company under the laws of Kuwait and is engaged in the business of air transportation and commercial passenger services under a license from the Directorate General of Civil Aviation.

You can download the 2017 annual report for Jazeera Airways directly from the following web page:

http://investorrelations.jazeeraairways.com/en/about-jazeera/investor-relations/financial-information/#annual

Instructions:

Use the annual report to answer the following questions:

1- What are the consolidated financial statements of Jazeera Airways K.S.C.P. (the Ultimate Parent Company) and its subsidiaries (collectively the Group)?

[10 marks]

2- What is the basis of preparation of the consolidated financial statements 2017?

3- List five objects of the Ultimate Parent Company?

4- What are the subsidiaries of the Ultimate Parent Company?

5- Go through the INDEPENDENT AUDITORS REPORT TO THE SHAREHOLDERS and answer the following questions:

a. Who is responsible for the preparation and fair presentation of these consolidated financial statements?

b. What is the name of the independent auditors?

c. What is the basis for opinion of the independent auditor, and determine the auditors responsibilities for the audit of the consolidated financial statements?