Your friend Mr. Saadat is joining as an accountant in a Health & Shine Pharmacy Company and he is asking you about the code of ethics for professional accountants. Help him by identifying situation that is irrelevant to the code of ethics which a professional accountant SHOULD NOT follow. Healed Life Pharmacy Company, the competitor of Health & Shine Pharmacy Company asked Mr. Saadat to share the expansion pl Mr.Aamir friend of Mr. Saadat wanted to know about the dividends that will be declared by the company and asked Mr. Saadat ab Mr. Saadat is attending workshop to be aware of the recent accounting standards issued by IFRS Mr. Saadat complies with the all relevant laws and regulations relevant to financial statements in Sultanate of Oman 15 You are the auditor of Al Arab Construction Company. According to you, which one of the following is the material misstatement in the financial statements of the company for the year 2020? ed out of question Stationary purchased for the month June, 2020 was OMR 470 but it was mentioned in the accounting records as OMR 490 Wages paid to the security guard of the company in the month July, 2020 was wrongly stated as OMR 320 which was actually OMR 350 Office maintenance expenses for the month June 2020 was wrongly stated as OMR 3500 instead of OMR3550 Depreciation of the company for the year was stated as OMR 12000 but the actual deprecation was OMR 6500 The Auditor me Financial Statements in the audit report ne wir be including air or the following in the section 16 ed Mr. Khalid is the auditor of Gulf Shipping Corporation for the year 2020. In the section 'Auditor's Responsibilities for the Audit of the Financial Statements' in the audit report, he will be including all of the following in the section 'EXCEPT: The financial statements, including the disclosures, give a true and fair view The address of auditor along with the name of city Sufficient appropriate audit evidence has been obtained In which Evaluate the overall presentation, structure and content of the financial statements If the financial statements present a true and fair view 19 ot yet Mr. Fahad is the auditor of Grand Furniture Company for the year 2020. He will give an unqualified audit opinion about the financial statements of the company in all of the following situations EXCEPT: tarked out of 00 Flag The balance sheet and income statement of the company for the year 2020 are fully presented and audited The cash flow statement of the company for the year 2020is fully presented and audited He is unable to obtain sufficient audit evidence that is material but not pervasive to the financial statements of the company for the year 2020 The financial statements of the company for the year 2020 are presented in accordance with approved accounting standards mterviewing the employees in order to evaluate the internar contror system or the company. Wnich or the onowing information CANNOT be obtained by the auditor through this technique? of yet Lared out of Employees of Sunshine Resorts Company is being interviewed by the auditor of the company. The auditor is interviewing the employees in order to evaluate the internal control system of the company. Which of the following information CANNOT be obtained by the auditor through this technique? How well the business owners and managers educate employees on the importance of safeguarding business operations How and why the owner's created certain internal controls How well individuals are trained for their jobs How do employees protect the company's business and financial information
