Investor of Ibra Oil SOAG lost their invested money when they did investment based on audit report
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Question:
Investor of Ibra Oil SOAG lost their invested money when they did investment based on audit report given by "N & N Audit Firm" Muscat. Mr. Nawaz and Mr. Nasser are partner, they did the audit for Ibra Oil SOAG. During audit firm Mr. Nawaz had to go to meet other client so Mr. Nasser continue the audit work of Ibra Oil SOAG. The audited balance sheet and actual asset and liabilities were not matching. Information about profit was also not matching with Income Statement.
To avoid this investment money loss, suggest any five qualities required by Mr. "Nawaz and Mr. Nasser" as the partner of "N & N Audit Firm", Muscat Oman.
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
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