Question

QUESTION 3) (30 pts, 5 pts each) Boursa companies in Kuwait must electronically file a variety of forms or reports complying with the regulations of Capital Markets Authority of Kuwait, including annual financial reports which includes the audit report. Integrated Holding Company’s financial report for 2019- is available at the following link

https://cis.boursakuwait.com.kw/Portal/FData/824_BL_2019_9_E_2432020113251163.pdf

REQUIRED:

Answer the following questions:

1. Provide the names of 2 international and 2 local audit firms that are licensed to audit Boursa Companies in Kuwait.
2. Tell the name of the auditor and audit firm you see in the audit report of Integrated Holding Company.
3. What is the address of the audit report?
4. Write the audit opinion provided in the audit report.
5. Indicate the type of audit opinion you provided in (3)
6. What is the date of the financial statements and the date of the audit report?

Answer 1

Licensed Auditors for Boursa Companies:

1. PricewaterhouseCoopers
2. Grant Thornton
3. Kuwaiti Accountant Auditing - HLB Kuwait
4. Al-Salhia Auditing Office

Integrated Holding Company KSCP and Its Subsidiaries:

Auditor: Khalid Ebrahim Al-Shatti

Audit Firm: PricewaterHouseCoopers (Al-Shatti & Co)

Address of audit report: PricewaterHouseCoopers, Al-Shatti & Co, Arraya Tower II, 23rd - 24th floor, P.O. Box 1753, Safat 13018, Sharq, Kuwait.  

Audit Opinion:
"In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of Integrated Holding Company K.S.C.P ("the Parent Company") and its subsidiaries (together referred to as "the Group") as at 31 December 2019, and its consolidated financial performance and its consolidated cash flows for the year ended in accordance with International Financial Reporting Standards."

Date of financial statements: 31- December, 2019

Date of audit report: 23 March, 2020