Access the Al Marai annual report at below web page: https://www.almarai.com/en/corporate/investors/annual-report-financial-statement/ then download the Al Marai Annual

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Question:

Access the Al Marai annual report at below web page: https://www.almarai.com/en/corporate/investors/annual-report-financial-statement/ then download the Al Marai Annual report 2019 in PDF Form.

Use the annual report to answer the following questions.

Go to “Report of Independent Registered Public Accounting Firm”& answer the following questions. Read the report carefully

1- As you learned in Chapter 1, an attestation services provides reliability to decision makers in taking their decisions, explain the attestation services and provide the details from Annual report Al Marai.

2- Is CPA responsible for preparing financial statements? Discuss the responsibility and functions of CPA with evidence of annual report. Also name the different Financial statements that audited by external auditors at Al Marai.

3- Identify and explain the difference between the Audit Committee Report and independent Auditors Report from annual report of Al Marai. What is the basic information discussed in these two reports? What do you think which report provides reliable information to stakeholders?

4- Imagine you are the external auditor of Al Marai, how do you interpret and what is your view on the “going concern” assumption on the financial stability of a business?

5- What does the term “material misstatement” mean? Does auditor indicate and highlighted any information about material misstatement in annual report?

6- Reliable accounting and financial reporting aids society in allocating resources in an efficient manner. Explain why audits are demanded by society? Support your answer from the Annual report of 2019 of Al Marai?

7- Write the summary on the auditor’s report. Your summary should include the main points of report and auditor’s opinion. Also identify which type of opinion auditor expressed in the annual report-

8- What do you understand by internal control? Discuss the auditor’s duty in terms of internal control system. Provide reference from annual report.