Reference no: EM132538582

Ooredoo was founded in Doha in 1987 initially as a telephone exchange company. It has since grown to become the largest communications operator in Qatar offering new technologies to the country including mobile, broadband, digital, and fiber services. The publicly-traded company has ownership from the royal family with H.E. Sheikh Abdullah Bin Mohammed Bin Saud Al Thani as the company's chairman.
Qtel Group and all its operating companies worldwide were officially unified under Ooredoo Group in February 2013, as part of the company's strategy to combine its assets in order to form a global business within the telecommunications industry. The name Ooredoo is Arabic for "I Want", chosen "to reflect the aspirations of Ooredoo customers.
Ooredoo has experienced significant growth over the last six years, transforming from a single market operator in Qatar to an international communications company with a global customer base of more than 114 million customers worldwide (as of September 2015) and consolidated revenues of QAR 24.2 billion for the first nine months of fiscal year 2015. Ooredoo has operations in 10 countries across the Middle East, North Africa, and Southeast Asia, including Algeria, Indonesia, Iraq, Kuwait, Myanmar, Maldives, Oman, Palestine, Qatar, and Tunisia.

Question 1: Name the external auditor of Ooredoo. What type of services external auditor provides to the Ooredoo, list and explain the functions of external auditor and provide reference from report?

Question 2: 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 Ooredoo.

Question 3: Who is responsible for preparing financial statements of Ooredoo? What is the external audit report on the presentation of financial statement of Ooredoo? Name the different Financial statements that audited by external auditors.

Question 4: Identify and explain the difference between the Audit Committee Report and Auditors Report from annual report of Ooredoo. What is the basic information discussed in these two reports?

Question 5: What do you understand by the term 'Audit Risk' and 'Audit evidence'? How auditors can reduce audit risk, support your answer from annual report of Ooredoo.

Question 6: Imagine you are the external auditor of Ooredoo, how do you interpret and what is your view on the "going concern" assumption on the financial stability of Ooredoo?

Question 7: Are auditors responsible for frauds? Discuss the auditor responsibility for the detection of errors and frauds? Support your answer from the Annual report of Ooredoo.

Question 8: What does the term "material misstatement" mean? Does auditor indicated and highlighted any information about material misstatement in annual report?