1.Name the External Audit firm auditing the commercial bank of Dubai, What is the responsibility of...

1.Name the External Audit firm auditing the commercial bank of Dubai, What is the responsibility of the audit firm?

What are the forms of audit opinions? What is the opinion of the auditors auditing of commercial bank of Dubai?

2.What is equity capital?Compare equity capital of commercial bank of Dubai. How do you see the

level of commercial bank of Dubai capitalization?

Expert Solution

Answer

1. KPMG is the External Audit firm auditing the commercial bank of Dubai. They were appointed at the 2018 Annual General Meeting held on 20th of March 2018. External audit firms are responsible for providing reasonable assurance that the financial statements are free from material misstatements and financial statements are prepared as per the financial reporting framework.

2.There are 4 forms of Audit opinion-

Unqualified Opinion
Qualified Opinion
Disclaimer of Opinion
Adverse Opinion

Auditors of Commercial Bank of Dubai has issued Unqualified Opinion.

3, Equity Capital is funds paid into the business by the investors or owners by exchanging common stock. Equity Share holders are the owners of the business. Equity Shares of Commercial bank of Dubai comprises of 2,802,733,968 ordinary shares of AED 1 each. However capitalisation is around 3.8 AED. That is nearly 4 times of par value.

ekkarill92 answered 1 year ago

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