The Oman Financial Services Authority has suspended United Mawa Projects from practising accounting and auditing for six months after an inspection identified violations of the law governing the profession. The firm offered its professional licence for rent through an electronic platform, potentially enabling unlicensed entities to operate under the firm owner’s legal status. The inspection also found that the owner had not signed most audit reports and that the firm failed to comply with professional standards. Deficiencies included insufficient audit evidence, shortcomings in planning and materiality assessments, inadequate treatment of identified misstatements, and failure to verify the physical existence and condition of inventory.

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