Auditor report on a company, Assignments of Finance

Download Auditor report on a company and more Assignments Finance in PDF only on Docsity! Independent Auditor’s Report The Shareholders Oman International Marketing Co. SAOG Muscat Sultanate of Oman DFK international is independent auditor with a branch in Ruwi, Sultanate of Oman. DFK care about their members and the international business, their relationships, and communities. Their combination of tax, legal, independent accounting, and business advisory organizations make sures that customers get the information that they need in a way that customers like. Customers can contact with experts who are local and have a lot of experience of working with the businesses and people like their customers. The members of the DFK company have a good knowledge of the local market and they can easily find the solution of the problem that you need. DFK works with over 200 businesses in over 105 countries in the world. Management Responsibility for the financial statements:  Management of a company is responsible for a fair preparation of the financial statements of their company and they should present this information fairly and clearly to the auditor of their company and these preparation and fair presentation should be according to international financial reporting standards (IFRS) and according to the companies commercial Law of 1974, as amended, and for this audit control the management of a company is responsible to make sure that the financial statements of their company should be prepared fairly and free from any type of misstatements which cam occur sometimes due to error or fraud.  In preparation of the financial statements of the company it is responsibility of management to evaluate the ability of their company whether it can continue to apply going concern, disclosing, as applicable, issues regarding the going concern and using the procedure of going concern base of accounting until the management of the company decides to sell the company or stop its operations, or they have no other options left but to continue with it. Those charged with the governance of the financial statements are responsible for the overviewing of the financial statements to make it clear from any type of misstatements and error or fraud. Auditors Responsibility for Financial Statements:  The main responsibility of the auditor is to make sure that the financial statements of the company are free from any type of misstatements and error or fraud, and then they must issue an auditor report that includes the opinion of the auditor. The high level of assurance is reasonable assurance, but it is not necessary that the audit organized with accordance of international standards of accounting will always find out the material misstatement when it exists. Misstatements in the financial statements can arise from the error by a human or by a fraud and they are considered if, if they are going to influence the decisions of users that can be harmful for them because they take decisions on the base of these financial statements and if these financial statements are based on material misstatements, frauds, and errors then the decision taken on the base of these statements will not be true. Auditor’s Opinion:  The auditors have audited the financial statements of the Oman International Marketing Co, SAOG, which includes the statement of financial position of the company as at 31st March, 2019, and the statements of cash flows and comprehensive income, and changes in equity for the year ended, and financial statements notes and a summary of policies and accounting.  In the opinion of the auditors about these statements, they think that the financial statements which are presented to them by the company are fairly presented, and its cash flows and financial performance is according to the (IFRSs) international financial reporting standards and the companies commercial Law 1974, as amended.