Whenever an auditor issues a qualified opinion, the implication is that the auditor. Does not know if the financial statements are presented fairly Does not believe the financial statements are presented fairly Believes the financial statements are presented fairly Believes the financial statements are presented fairly "except for a specific aspect of them The shareholders of Al Laith Automobiles company appointed Smart Audit and Assurance services to a the entity or organization uses the available resources or fund to acquire material, labor, or other resou The shareholders of Al Laith Automobiles Company appointed Smart Audit and Assurance Services to assess whether the entity or organization uses the available resources or fund to acquire material, labor, or other resources for the projects according to the economic principle or not. They also requested the auditors to check the efficiency of the management in getting the desired output at the minimum resources. This type of audit is known as: h Internal audit Value for money audit bod Look Garments Company for the year 2020. Though the financial statements were d in accordance with the GAAP, the auditor determined an uncertainty relating to the al litigation which may require regulatory action as well. How can Mr. Faisal include this in External audit Environmental audit the audit report? Mr. Faisal is the auditor of Good Look Garments Company for the year 2020. Though the financial statements were found to be fair and prepared in accordance with the GAAP, the auditor determined an uncertainty relating to the future outcome of exceptional litigation which may require regulatory action as well. How can Mr. Faisal include this in the audit report? Mr. Faisal should ignore the information about the litigation and issue an unqualified audit opinion as the financial statement Mr. Faisal should include an emphasis of matter paragraph so that it can be taken to the notice of the appropriate persons Mr. Faisal should include an additional paragraph to include the information about the litigation and title the paragraph 'othe Mr. Faisal should include it in the Auditor's Responsibilities for the audit of financial statements as a part of his duty as an au Which one of the following is NOT a control activity of a construction company? General Manager circulates information about the performance of the company during the first quarter of the year Duties are segregated among employees; the person who collects cash and the one who enters in account books are different Middle level management is restricted from using the company's car for personal use Management authorizes the purchase manager to undertake purchases for amount up to OMR 500 only You are the auditor or Sunshine Resorts, Mr.JOnts the newlyomed audit clerk in your team. Fermin identifying ann nf the following is NOT the three conditions requiring a departure from an unqualified You are the auditor of Sunshine Resorts. Mr. John is the newly joined audit clerk in your team. Help him in identifying from the following which one of the following is NOT the three conditions requiring a departure from an unqualified opinion? The financial statements have not been prepared in accordance with generally accepted accounting principles (GAAP) The auditor is independent The auditor is not independent The scope of the audit has been restricted This Team Tater in the year 2020 a Traud was detected in the financial statements OT Mr. Aafreen was appointed as the auditor of Sports World Company for the year 2019. He audited and certified the financial statements of the company to be true and fair, which were prepared by the accountant Ms. Saadia and audited internally by Mr. John and his team. Later, in the year 2020 a fraud was detected in the financial statements of the company. In this situation, according to ISA 240 (Redrafted) paragraph 4, who among the following has the secondary responsibility for prevention or detection of fraud in the financial statements of the company? Next page The Board of Directors of Sports World Company Mr. John and his team, the internal auditors of Sports World Company Mr. Aafreen, the auditor of Sports World Company cement Ms. Saadia, the accountant of Sports World Company