Structure of Auditor Report in Kuwait Warba Insurance Company

January 2017 | 6 pages | ID: S59119F727CEN
Sadia Saeed

Abstracts

Warba Insurance Company is also known as the S.A.K that is the one of the largest and well known insurance corporation of the Kuwait that provides the various services to the clients in the country. Warba Insurance Company is serving the customers for the last 35 years and offers the wide range of the coverage and services to the customers for fulfilling their individual requirements. With the subsidiaries and the affiliated corporations, the Warba Insurance Company is providing the wide range of the vehicles, property, medical and life insurance goods and services to the clients of the individual basis and the business houses. The company has the BBB financial strength and rating in accordance to the Standards and Poor’s ratings. Warba Insurance Company adopted the International Financial Reporting Standards and prepares their financial reports and statements in accordance to the IFRS. Audit report of the company is also prepared in accordance to the IFRS. Warba Insurance Companyhas highly committed team that is highly committed for serving the clients in best manners and it is the secret of the success of the company. The major focus of the company is on the stability, reliability and the achievement of the long term goals of the customers that in turn make the company prosperous. The highly committed goals of the company are the hallmark of the progress of the Warba Insurance Company (Warba, 2016). The major goal of this report is to analyze the behavior of the Kuwaiti corporations in preparing the audit report so we have select the one of the famous corporation of the Kuwait and analyze the annual report of the company for the last five years and critically inspect the audit report of the company so that to examine the audit report structure of the company in the last five years. So in it we have to evaluate the role of the management and the auditor for the preparation of the financial statement and for the auditor to evaluate the financial statements of the corporation in accordance with the legal requirements. Cont... (1600 words of this report)

Contents

Introduction
Structure of Auditor’s Report
Letter Format
Title
Introductory Analysis
Management Role
Auditor’s Responsibility
Auditor’s Opinion
Legal Perspective
Comparison with the Real Audit Report
Conclusion
References