31 December 2021

Client Name: Standard Technology For Trading Company F/S Period End:

Document Name: Client acceptance Questionnaire Document #: 1.10.01

YES
QUESTION COMMENTS
OR N/A
1 ELIGIBILITY

Ensure we are eligible and have the necessary resources and expertise. Yes We have appropriate staff who have experience in auditing companies in similar
Including: industry.
- appropriate partners and staff available, who collectively have the capabilities, competence and time, to perform the audit in
compliance with the firm’s procedures, relevant professional standards, regulatory and legal requirements and in accordance with
the prospective client’s timetable; and
- the firm has sufficient knowledge of the business to perform the audit or can obtain any specialized expertise required.
2 INDEPENDENCE
Ensure we are, and can continue to be, independent of the prospective client, which includes being seen to be independent. Yes No independence threats noted. Further, all team members will sign specific
independence declaration.

3 INTEGRITY OF OWNERS
Ensure the integrity of the principal owners, management and those charged with governance. Yes No integrity issues noted

Before we accept any engagement, we satisfy ourselves that the prospective client, and its senior officers and other individuals or
entities who could significantly influence the financial statements, are of good character. We do not allow ourselves to be associated
with entities or individuals who lack integrity.

4 CHANGE IN AUDITORS
Ascertain the reasons for a change of auditors and make inquiries of the previous auditors. Yes Obtained professional clearance.

5 RISK TO THE FIRM

Evaluate the risks to the firm of accepting the engagement. Yes We have evaluated the risks and are satisfied that they pose no major or unusual risk
we consider the following other factors in evaluating the potential risk to the firm: to the firm in accepting the engagement.
· the type of business carried on by the prospective client;
· the continuity of its management in recent years;
· the financial needs of the entity and its ability to meet those needs in the future;
· the apparent competence of accounting, financial and data processing personnel and the adequacy of the accounting systems;
· the condition and reliability of the prospective client's records and their ability to provide sufficient appropriate audit evidence;
· the integrity of management and the risk of management misrepresentation in the financial statements;
· the rate of growth in recent years and the source of such growth, e.g. internal growth, mergers and acquisitions;
· the basis on which our fees are to be charged and whether we are satisfied that the prospective client has the resources to pay
our fees;
· the size of the client;
· the size of the client in relation to the size of the office;
· the existence of unusually complex accounting or auditing problems;
· the existence of unusually complex related party transactions;
· whether the client uses very aggressive accounting policies;
· whether the client is experiencing severe liquidity problems;
. any questionable circumstances of a legal or other nature
. the need to use an external expert to evaluate matters that are potentially material to the financial statements; and
· whether there are significant components that are audited by other auditors

6 CONFLICTS OF INTEREST
Consider whether there are conflicts of interest and take necessary action. Yes There are no known conflicts of interest on accepting this engagement.

7 ETHICAL REQUIREMENT
Ensure we can comply with the relevant ethical requirements and that appropriate safeguards are put in place. This includes money Yes
laundering requirements. We have considered all relevant ethical requirements and are satisfied that
appropriate safeguards are in place.

8 CRIMINAL DISCIPLINARY HISTORY

Ensure the prospective client and its directors/shareholders have not been convicted of any crime or are subject to any investigations Yes No issues noted.
or disciplinary actions.
9 FINANCIAL REPORTING FRAMEWORK
Determine whether the financial reporting framework to be applied in the preparation of the financial statements is acceptable. Yes The framework is acceptable.
10 NATURE OF AUDIT REPORT
Yes This is the first year of entity's operations and we as appointed auditor will issue audit
report on findings which will be in compliance with ISA 700
Is a standard audit report in line with International Auditing Standard 700 envisaged? Confirm that the previous audit report has not
been modified in any way?

11 GROSS FEE INCOME

Yes We are satisfied that the firm is independent regarding current fee arrangements for
Is the firm independent with respect to the client regarding the current fee arrangement, including significant outstanding fees.
this prospective client.
Document any threats and the safeguards put in place to eliminate, or reduce down to an acceptable level, the threats identified in
this section. Include details of those with whom we have had discussions.

12 LITIGATION
Yes We are satisfied that there is no litigation taking place, or likely to take place
Are we satisfied that there is no litigation taking place, or likely to take place between the firm or a member of the assurance team between the firm or a member of the assurance team and the prospective client.
and the assurance client. Document here any threats and the safeguards put in place to eliminate, or reduce down to an acceptable
level, the threats identified in this section. Include details of those with whom we have had discussions.

13 CLOSE RELATIONSHIPS
Yes We confirm that no partners or staff engaged on the client's affairs, have family
connections or close relationships with the client. Please see individual Independence
Can we confirm that no partners or staff engaged on the client's affairs have family connections or close relationships with the client? declaration signed by the assurance team.
Document here any threats and the safeguards put in place to eliminate, or reduce down to an acceptable level, the threats
identified in this section. Include details of those with whom we have had discussions.

14 FINANCIAL INTEREST
Yes We confirm that any partner (or closely connected person) or member of staff
engaged in the audit does not have any financial interest in the client. Please see
individual Independence declaration signed by the assurance team.
Can we confirm that any partner (or closely connected person) or member of staff engaged in the audit does not have any financial
interest in the client? Document here any threats and the safeguards put in place to eliminate, or reduce down to an acceptable
level, the threats identified in this section. Include details of those with whom we have had discussions.

CONCLUSION AS TO ACCEPTANCE OF CLIENT (ACCEPT OR DO NOT ACCEPT) Accept

Name Acceptance confirmed

Date Signature
Engagement
Partner Gihad Alamri 10-Oct-2021 GA

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