1. Donation
In the new year, we plan to give more love & contribute more to the society "the elder & the poor" (anyway, give more love to the elder also include our dear parents, our grandma & granddad & relatives").
At the same time, the unfortunate group which include the disable group or suffer from serious disease. We usually come across these news thro newspaper. My mum also purposely cut down the sheet for us to make donation to them.I know we are just the small portion who make donation but if every families also donate a portion, the portion will become a large portion which able to help them to confront the hardship.
2. Healthy life style
~~Exercise
Maintain a healthy life style is not an easy task, i think people just easy talking about it but never act for it, hahah , me too... keep just saying is not the point.So i plan to join back my yoga class. I already stop for a year since i join this company & getting fatter because get many chances to having buffet and meal treat by company bosses & supplier.
~~Food control
OOh isnt really true.. what i mean is actually during my personal time to having lunch & dinner , i would like to have simple foods with more vegetables and low
colestrol and oily,spicy foods and LESS ice. I hope i can do it ,it can keep a healthy life style and at the same time can save some money(haha). Because i still have many oppurnities to have heavy lunch & dinner treat by company.
3. Travel
Its a good oppurnity to have local or oversea trip during a new year coming, a small trip or holiday can bring us to a fresh mind or to confront the new challenges which forthcoming.The world is so big, we seem so little, as we still alive, i think we should take a walk in this "big big world"
4. Work & study
Works is getting more and more in coming year, hopefully i can handle it as experience is getting more. Reading more newspaper and books to improve myself.
~~~God bless the "world peace" and stable politics and social in the new yr 2008~~~
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Sunday, December 30, 2007
Bridges in Japan
Gorgeous! These are the bridges in Japan,Japan are very famous n popular in their technologies whatsoever in car, electrical, machines, building.....
The Ship
A lunch treat by a colleague at the ship Bukit Bintang
I choose the wrong steak for myself
"so many fish bones", finally i cant finish it
It used to be a famous steak house before that
but nowadays pop outs so many special steak house
therefore i thinks it needs to think out special promotions to attract back his good old customers....
Tuesday, December 25, 2007
christmas 2007
This few weeks i been to new Jusco Sunway, The Garden Midvalley, Mid Valley megamall,Sogo & maju junction mall as well..
Different mall have their own creative decoration to attract customer.
These pic will be the memory for me during Christmas 2007
God bless everbody healthy n happy always...
A few more days will be a new beggining for all of us,
let get planning & start budgeting as many of our neccesity is raising price
Thursday, December 20, 2007
Year end closing dinner
Date : 15/12/07
Place : Hotel Istana
After year end closing 30/9/07, our boss " Shibasaki " reward us with yummy high tea at Hotel Istana. This time a bit different from last time because we are normally having dinner buffet. Shibasaki is quite tight with his schedule to oversea so we having afternoon high tea for this time.It's quite comfortable with the environment and services of polite staffs over there.
Tuesday, December 18, 2007
Wednesday, December 12, 2007
投名状 The Warlords
导演陈可辛Peter Chan
演员李连杰Jet Li
金城武Takeshi Kaneshiro .....Zhang Wenxiang
刘德华Andy Lau .....Cao Erhu
更多>>
影片类型：动作 / 武侠
国家/地区：香港 中国
对白语言：汉语普通话
色彩：彩色
制作成本：$40,000,000 (estimated)
拍摄日期：2006年12月4日 - 2007年3月28日
1870年秋，大哥(李连杰 饰演)一身官服，在城墙顶俯瞰自己的就职典礼舞台；充满理想、胸怀壮志的他，如果没有走上这条不归路，极可能是推翻腐败清庭的新中国革命者之一，创大事业名留青史，可惜……
两个强盗和一个女人改变了他的一生，造就了他的成功，亦导致他最后的毁灭。这两个强盗是曾跟他矢誓生死与共的结拜兄弟：二哥(刘德华 饰演)和三弟(金城武 饰演)，而那个女人正是二哥的妻子莲生(徐静蕾 饰演)。
率性而为的二哥，乃一条光明磊落的好汉，在乱世中沦为强盗，带着几百人到处劫掠，他为人盗亦有道，就算打劫也“劫七留三”，留一条活路给被劫的村民，而劫掠所得就拿来分给和他同住一条山村的良民，所以深得众心。二哥一生人最爱两个人，一个是莲生，一个就是十三岁便跟了他做强盗的三弟，把自小成为孤儿的三弟视如亲弟。
三弟身上有一种独特的男人魅力，除了狼的野性和杀手的狠冷，更有着少年才有的天真浪漫；因此在他的生命中，同生共死的兄弟情义是他视如生命的永恒感情。自从在打劫太平军粮车的一役中，大哥这个陌生人为替他挡箭而受了伤，令他深感救命的恩情，天生的狂热使然，他对大哥的崇拜竟超过他对二哥的崇拜。
在二哥等人的山村被清军洗劫，付出伤亡惨重的代价后，三弟极力主张他们三人结拜为兄弟，由大哥带领他们投效清廷，二哥为了不想令三弟失望，也为了不想自己的一班同村兄弟陷入绝境，他不计较个人得失，将首领地位拱手让给大哥。
作为男人世界中的一个好兄弟，二哥在女人世界中却是一个失败的情人，一个不合格的丈夫，浓烈的大男人热血，令他少了那种迷住女人的浪漫魅力；他的妻子莲生却偏偏又是那种深信一见钟情的浪漫主义者。所以，尽管他当年救出被卖到扬州当雏妓的莲生，尽管他很努力的去关怀莲生，但目不识丁的他就是没有莲生所喜欢的文人书卷气，始终得不到她真心的爱。
为实现天下没有战争的太平盛世理想，大哥借助以二哥、三弟为首的一班兄弟的力量，成立“山字营”暂时为清廷效力，原来是要借助攻打太平天国结集军力；但是随着他大权在握，大哥变得越来越野心勃勃，令他要清除一切的障碍。他不惜和二哥决裂，屠杀被二哥劝降的太平军降兵，只为怕降兵造反。他利用三弟的狂热性格，说服他站向自己那一边。
本来，大哥距离成功已仅有一步之遥，但他的作为伤透了对他崇拜不已的三弟。就在就职大典上，就在权势如日中天的最辉煌时刻，大哥竟横死于刺客之手……
My little conclusion about this movie is, the war really make people suffer. The country can't grow prosperous without the PEACE, economic, social and politic.
Without peace and love, the country may announced that a war is started. When war broke out, millions of peoples will suffered. They have no food and drinks for themselves and even their childrens,they robbed, killed because of foods,millions of them die because of hunger.
I still remember that Jet Li said " we, army will die war but not hunger ".
It make me feel that "PEACE" is really important for us, with stable economic, resident will stay happily without worrying bout their ordinary meal.
I really appreciate the peace that our country maintain for so long. But the lately rally & marching in our country make me feel so sad. Why they voice out? Why they having marching? Isn't really the govt make us so sad? Why are the people neccessity get price rising tremendously ? Are they going to continuosly subsidy for their beloved people? Aren't they do something to beloved people?
Sunday, December 9, 2007
Merry merry christmas
we wish u a merry christmas
we wish u a merry christmas
we wish u a merry christmas
and the happy new year....
wow, christmas is just around the corner
many shopping mall are well decorated their mall
to attract more customer and sales
last friday, i just visited to KL "Pavillion"
thinking of want to buy the famous donuts in the town
from either " Big apple " (level 6) or " JCo" (food court area)
because i know that JCo must very very crowded(hehe, in my mind thinking of that alternative choice---Big apple) so i take lift to level 6 to visit the store,
unfortunately that the store are not operate yet....(dissapointed)
so i direct on my way to JCo lol, my expectation is correct , is really crowded, what i think is if i que, it may at least one hour,so i go surfing around the food court looking for another yummy food. I found "Hong kong egg tart king", so i bought one box of egg tart + milk egg tart for my grand parent & uncle, it was quite yummy also.
The food court is quite different from others.The environment is very spacious & cosy and clean, feel comfortable to having lunch or dinner here. Pavillion food court serve varities of local & international foods, their price is start from RM 6.90 (which i feel okay for this environment).
Nevertheless, their center hall decorated with the beautiful white christmas which is seem so romantic & gorgeous...oh wow, i manage to get some nice snap through my phone (but the phone is not quite good on shoting cos of it's memory limited)
Overall, Pavillion is a new good place to hang out for luxurious fashion, products and foods.
Monday, December 3, 2007
how beautiful is " mama smile "....
mama, u are so intelligent
I do learn alot of things from u
mama, u are so understanding
u always be there to share my secret
mama, u are so sweet
ur smile make people around u happy
mama, u are so friendly
everybody like to be friends with u
mama, u are our number one
i love u, mama
Sunday, November 25, 2007
" SUCCESS "
Success is not an accident. Success is not a matter of luck. There is a five-step formula that can be followed and, if you have the commitment to follow it you will reap the rewards.
1. Decide what you want:
Make a decision as to what success will be for you. Everyone has a different idea of what success is. If you don't take the time to define t for yourself then how can you possibly get there?
Your definition doesn't have to please anyone else; as long as it pleases you then it will be something that you can throw your energy into.
2. Find out what you have to do to get it:
At the time that you set your success goal you may have no idea at all as to what you will need to do in order to arrive there.
Most people realize that they should have to study hard and long to learn how to become a brain surgeon, but they somehow miss the fact that they have to spend time learning how to completely turn their life around and achieve outstanding success.
Fortunately, some successful people have taken what they have learned over many years and found ways to help you learn quickly and easily.
Studying their teachings can take years off your journey and save you a lot of pain and suffering that you might otherwise experience on your own.
3.Break down what you have to do into daily tasks:
Once you have discovered what you need to do, it is important to break that into bite-size chunks that you can accomplish in a day (still leaving time to meet your other responsibilities).
In this way, each day becomes a mini-success and that will keep your spirits up.
4. Put those tanks in their order of importance:
Each night before you go to bed decide what will be the most important task that you need to accomplish the following day.
Make sure that you organize yourself so that you can complete this task as well as the other things you have to do that day. Successful people know how to make a decision and set priorities. That is the shortcut to success.
5. Complete one of those important steps each day:
If you can accomplish one task each day, you will have accomplished 365 tasks in one year. Imagine how much improvement that could total.
Many people set goals but very few carry out an important, goal focused task each day. It's not that they can't do it; they simply don't do it.
This fifth step is where the power resides. It is the habit of chipping away at your goal each and every day that will bring that goal into reality. If you can't complete a particular task in a day then that task is too big. Keep the tasks small and achievable and before you know it you will have your success goal.
When you look forward, a year it may seem a long way away and that may make you impatient. The interesting this is that impatient people very rarely develop the rhythm of daily action that is necessary to achieve their goals and so when the year has passed they are no closer that they were when the year began.
Keep taking those little steps, one after the other, and you may just amaze yourself at how much you achieve.
1. Decide what you want:
Make a decision as to what success will be for you. Everyone has a different idea of what success is. If you don't take the time to define t for yourself then how can you possibly get there?
Your definition doesn't have to please anyone else; as long as it pleases you then it will be something that you can throw your energy into.
2. Find out what you have to do to get it:
At the time that you set your success goal you may have no idea at all as to what you will need to do in order to arrive there.
Most people realize that they should have to study hard and long to learn how to become a brain surgeon, but they somehow miss the fact that they have to spend time learning how to completely turn their life around and achieve outstanding success.
Fortunately, some successful people have taken what they have learned over many years and found ways to help you learn quickly and easily.
Studying their teachings can take years off your journey and save you a lot of pain and suffering that you might otherwise experience on your own.
3.Break down what you have to do into daily tasks:
Once you have discovered what you need to do, it is important to break that into bite-size chunks that you can accomplish in a day (still leaving time to meet your other responsibilities).
In this way, each day becomes a mini-success and that will keep your spirits up.
4. Put those tanks in their order of importance:
Each night before you go to bed decide what will be the most important task that you need to accomplish the following day.
Make sure that you organize yourself so that you can complete this task as well as the other things you have to do that day. Successful people know how to make a decision and set priorities. That is the shortcut to success.
5. Complete one of those important steps each day:
If you can accomplish one task each day, you will have accomplished 365 tasks in one year. Imagine how much improvement that could total.
Many people set goals but very few carry out an important, goal focused task each day. It's not that they can't do it; they simply don't do it.
This fifth step is where the power resides. It is the habit of chipping away at your goal each and every day that will bring that goal into reality. If you can't complete a particular task in a day then that task is too big. Keep the tasks small and achievable and before you know it you will have your success goal.
When you look forward, a year it may seem a long way away and that may make you impatient. The interesting this is that impatient people very rarely develop the rhythm of daily action that is necessary to achieve their goals and so when the year has passed they are no closer that they were when the year began.
Keep taking those little steps, one after the other, and you may just amaze yourself at how much you achieve.
Sungai klah hot spring
大马温泉！！！
不知道有多少人知道我们国内有着这一个让大家抒解生活压力好地方！！！温泉噢！！！
它，sungai klah hot spring就位于一个叫Sungkai的地方。预计如果从吉隆坡到那里只需要大约一个小时的车程
好多人都一直渴望到日本去泡温泉，现在我们大可不用捞心捞力的拼了命的存钱到外国，大可以在温泉里尽情享受无限阳光和璀灿星光再让自己沐浴鸟语花香的大自然里。
-.-.-.-.-.-.-幸福人生尽在咫尺-.-.-.-.-.-.-.-
营业时间: 7am-10pm daily
周末，假期，夜晚（７pm－１０pm）
价钱 : － RM5/成人 & RM1.50/小孩
周日－ RM３／成人＆ RM1.50/小孩
家庭温泉 ：RM ２５ （一小时记算）
联络号码 ：(05) 438 8687
地点呢，位于霹雳州的Sungkai。
从吉隆坡出发，只需大约一个半小时，就可到达。
从JALAN DUTA的TOLL进，然后注意路牌，在＂SUNGKAI＂这收费站进去。
进了收费站后，向左转直走（车速最好放慢），你留意你的左手边，会有个写着＂HOT SPRING＂的牌子指示，
然后转左，（从这里开始到热水湖大概有10KM）
你会发现你走的是KAMPUNG路，不用怕，你一直跟指示牌前进就可以到达了。
那里的收费是：
成人(13岁-59岁)：RM5。00（只是热水池）
：RM8.00 （冷水池和热水池）
小孩(3岁-12岁)：RM3。00
营业时间：7。30AM - 10PM
当你一进入口，你就感觉到开始有点热，而且烟雨朦胧，好像在仙境。
首先看到是很大的人造热水湖，
这里的温度最低，比起其它的热水湖。
在另外一边，有好几个不同温度的热水池，
每个水池大概可容纳20个人，
温度呢，从35度-60度。。。。(还真热呢！)
那里还有一条热水按摩脚路，
高温的水再加上天堂路，刺激！！！
那里还有专给游客煮蛋的地方，
那个池有80-100度呢！
放心，如果你忘了带鸡蛋，那里会有的买。
如果大家有兴趣，我给大家一个建议，
因为那里温度高，所以要去，
最好是一大早，或是傍晚。。。。
如果要过夜，也可以，住在附近的Trolak Country Resort 吧！
要不然，就到怡保市区过夜，顺便游玩。
Taman Rekreasi Air Panas
(Sungai Klah Hot Springs Park)
35600 Sungkai Perak
Tel: 605-438 8687
Fax: 605-438 8760
Homepage:www.plantationresorts.com.my
Trolak Country Resort
35600 Sungkai Perak
Tel: 605-438 8687
Fax: 605-438 8760
Budget for 2 person :
RM15++ x 2 (过toll来回）+ RM150++（住宿在 Trolak Country Resort 一夜) + RM10 （2个人入场费）+ RM60 （车油打满桶）+ RM50 （晚餐/午餐）= RM300
F8 Audit and assurance (Dec '07) emphasis area
Following are the topics that are Expected to appear in F8 Audit and assurance for December 2007 attempt.
Ethics - objectivity, conflicts of interest
Planning - identifying and explaining/addressing risks in a scenario
Internal controls - weaknesses and recommendations
Audit evidence - substantive tests, sales and debtors
Completion - overall review
Internal audit - role, reliance by external auditors
Ethics - objectivity, conflicts of interest
Planning - identifying and explaining/addressing risks in a scenario
Internal controls - weaknesses and recommendations
Audit evidence - substantive tests, sales and debtors
Completion - overall review
Internal audit - role, reliance by external auditors
Thursday, November 22, 2007
Audit procedures for Creditor & debtor
Trade creditor ( S O C C E R L I E )
1. S ystem of book keeping, recording & Internal control over purchases & liabiliy review critically.
2. O mission test
~ review after balance sheet date payment voucher & creditor invoice to ensure all liabilities appropriately taken up in the correct accounting period.
3. C ircularise independent confirmation from creditor
4. C ut off test
~ Purchases at year end
~ goods received year end
>> to ensure all liabilities have been properly account for
5. E vidence of effective operation & client system & procedure
~ to carried out compliance test
6. R encocile creditor statement
~ note any omission & impact on files
7. L ong outstanding creditor account
~ investigate reason for non settlement
8. I nvoices/ DO after relevant supporting document
~ Vouch to select
9. E nd of year balances
~ Check to creditor ledger & general ledger to ensure correct extraction
## test of control = test of compliance test
## analytical review / substantive test = test of transaction & balance(complete, accurate & valuation)
Trade debtor - beside circularisation ( BP BAD ACC )
1. B ad debt written off
~ authorised
~ review adequately by officer to control recoveries
2. P rovison (specific or general)
~ determine the policy whether is reasonable & consistent apply
3. B udget & comparative figure
~ review the reason for variation
4. A ged list of debtor
~ examine & trace to the debtor ledger to determine whether paid at year end
5. D isclosure
~ ensure appropriate
6. A nalytical review
~ relationship between invoice, trade debtor & creditor & other terms(GP,CA,CL,Debtor day)
7. C ast & total agree to control
8. C ut off procedures for CN
~ verify & ensure
Audit procedure in detrmining adequacy of provision for doubtful debt ( CIA POOR )
1. C onfirmation of debtor
~ verify
2. I ndustry average
~ compare % to them & test them for reasonableness
3. A dequacy for provison for doubtful debt
~ test by axam the experience of poor payment by debtor (each aging category that will become uncollectible)
4. P olicy
~ for credit granting & cash collectible to access
5. O utstanding debtor for a long period for time
~ examine aged listing & test for aging
6. O verall collection
~ review collection in subsequent year
7. R ecover & reversal position to verify
1. S ystem of book keeping, recording & Internal control over purchases & liabiliy review critically.
2. O mission test
~ review after balance sheet date payment voucher & creditor invoice to ensure all liabilities appropriately taken up in the correct accounting period.
3. C ircularise independent confirmation from creditor
4. C ut off test
~ Purchases at year end
~ goods received year end
>> to ensure all liabilities have been properly account for
5. E vidence of effective operation & client system & procedure
~ to carried out compliance test
6. R encocile creditor statement
~ note any omission & impact on files
7. L ong outstanding creditor account
~ investigate reason for non settlement
8. I nvoices/ DO after relevant supporting document
~ Vouch to select
9. E nd of year balances
~ Check to creditor ledger & general ledger to ensure correct extraction
## test of control = test of compliance test
## analytical review / substantive test = test of transaction & balance(complete, accurate & valuation)
Trade debtor - beside circularisation ( BP BAD ACC )
1. B ad debt written off
~ authorised
~ review adequately by officer to control recoveries
2. P rovison (specific or general)
~ determine the policy whether is reasonable & consistent apply
3. B udget & comparative figure
~ review the reason for variation
4. A ged list of debtor
~ examine & trace to the debtor ledger to determine whether paid at year end
5. D isclosure
~ ensure appropriate
6. A nalytical review
~ relationship between invoice, trade debtor & creditor & other terms(GP,CA,CL,Debtor day)
7. C ast & total agree to control
8. C ut off procedures for CN
~ verify & ensure
Audit procedure in detrmining adequacy of provision for doubtful debt ( CIA POOR )
1. C onfirmation of debtor
~ verify
2. I ndustry average
~ compare % to them & test them for reasonableness
3. A dequacy for provison for doubtful debt
~ test by axam the experience of poor payment by debtor (each aging category that will become uncollectible)
4. P olicy
~ for credit granting & cash collectible to access
5. O utstanding debtor for a long period for time
~ examine aged listing & test for aging
6. O verall collection
~ review collection in subsequent year
7. R ecover & reversal position to verify
Tuesday, November 20, 2007
Provision
Provision for warranty claim
Matters to consider : ( J U D G E )
1. J udgement to director
~ high risk cos dependent on director own judgement
2. U nder/ over provision in previous year
~ any subsequent adjusment use to manipulating to recognise of profit
3. D efinition
~ whether they met the definition of provision
## E stimate realiable amount of obligation
## P robable economic outflow
## P resent obligation (legal or constructive) result fr. past event
4. G eneral insurance
~ any insurance can mitigate the effect of the claim
5. E xistence & reason for the claim
~ adequate of current provision & need to consider valuation of stock held
Basis calculation of provision reasonable in the light of prior experience & consistent?
Evidence
R ecords
1. Warranty card / agreement (Insurance)
2. insurance policy
~ obtain/establish posibbilities of any lossess covered
3. legal correspondence
~ review / determine the status of ongoing claim
4. warranty terms
~ review to establish co have obligation to compensate under which circumstance
A ccuracy
1. R eview level of claim after year end
2. C alculation of provision
~ check for accuracy
3. Basis of calculation
~ discuss with director the basis/methods applied whether is consistent & reasonable
A nalytical Review
~ Compare previous year provision & assess the accuracy of previous yr provision to actual claim made
Matters to consider : ( J U D G E )
1. J udgement to director
~ high risk cos dependent on director own judgement
2. U nder/ over provision in previous year
~ any subsequent adjusment use to manipulating to recognise of profit
3. D efinition
~ whether they met the definition of provision
## E stimate realiable amount of obligation
## P robable economic outflow
## P resent obligation (legal or constructive) result fr. past event
4. G eneral insurance
~ any insurance can mitigate the effect of the claim
5. E xistence & reason for the claim
~ adequate of current provision & need to consider valuation of stock held
Basis calculation of provision reasonable in the light of prior experience & consistent?
Evidence
R ecords
1. Warranty card / agreement (Insurance)
2. insurance policy
~ obtain/establish posibbilities of any lossess covered
3. legal correspondence
~ review / determine the status of ongoing claim
4. warranty terms
~ review to establish co have obligation to compensate under which circumstance
A ccuracy
1. R eview level of claim after year end
2. C alculation of provision
~ check for accuracy
3. Basis of calculation
~ discuss with director the basis/methods applied whether is consistent & reasonable
A nalytical Review
~ Compare previous year provision & assess the accuracy of previous yr provision to actual claim made
Bank loan ( C A R A I D )
1. C onfirmation of balance outstanding from bank/ fin. institution
2. A uthorisation - borrowing authorised as per minutes of BOD
3. R econciliation of balance outstanding to Co record
4. A greement - sight & agree detail
5. I nterest have properly accrued
6.
(a)D rawdown - verify to loan agreement / bank advice
(b)D isclosure - debtor may disagree with the balance without provide explanation
2. A uthorisation - borrowing authorised as per minutes of BOD
3. R econciliation of balance outstanding to Co record
4. A greement - sight & agree detail
5. I nterest have properly accrued
6.
(a)D rawdown - verify to loan agreement / bank advice
(b)D isclosure - debtor may disagree with the balance without provide explanation
Toyota Ractis
Toyota Ractis 1.3VVT-i / 1.5VVT-I (RM55,800 ~ RM69,200)
Maybe to be launch after Chinese New Year
Wow, so nice isn't, is only RM 55,800 to RM 69,000
For an imported car which with nice accessories & design with quality safety system
I'm sure that many people will go for it
somemore got open sun roof,
wow i'm thinking of myself in the "New Zealand" trip now with this car
Monday, November 19, 2007
Going concern
Definition :
Assumption that an enterprise will continue in operational existence in the foreesable future(min. period of one year after the accounting period)
Indicator of non going concern ( P & L > S E L L )
1. P rofit
2. L iquidity (inadequate working capital & inability to finance loan when they fall due)
3. Supplies lesser & business failure
4. E xchange rate (adverse)
5. L ow margin (high cost can compensate with increase sales price)
6. L iquidity problem (high gearing & LT asset finance by ST borrowing)
Audit approaches on going concern issues (C O M A ):
1. C hecklist to review the going concern
2. O pinion formulation ( qualify or not qualify)
3. M anagement discussion
~ significant unexplained variance
~ future managerial action
~ future funding requirement
4. A nalytical review
~ financial ratios (P/L & B/S)
~ internal management ratios (effiency & productivity)
Auditor role - techniques determining GC concept (F A R C E)
1. F inancial support availability
~ co ability to maintain viability of itself & pension fund
~ assurance of fund in writing ( representation letter)
2. A uditor task & opinion
~ procedure specifically identify matter doubt director view GC
~ opinion on uncertainty to audit report
3. R eview / report :
~ assess adequacy on going concern through enquire management, observe the staffs, examine cash flow & profit forecast
4. C ash flow forecast :
~ director prepare cash flow
~ cash flow prepared (review consider available)
5. E vidence from director
~ adequate cash resources
~ no post balance sheet events which significant after balance sheet position
~ written statement going concern status
Auditor responsibility look for going concern (G A P E > opinion)
1. G rounds
~ Consider there are reasonable ground that the financial statement are prepared on going concern basis
2. A lternative counter lancing factors
Plan management to overcome problem
(a)well plan support by a profit forecast, cash flow, operating budget, reasonable key assumption concern profit forecast & consistency of pass performance.
(b) written confirmation from third party
~ borrowing facilities will continue extend / renew at what level together with any securities require
3. P reparatory procedure
(a) review interim and management account
(b) consult from management & staff to determine going concern
~ determine the post Balance sheet performance
~ ensure consistent of forecast
4. E vidence
(a) inspect corresponding files in supplier & customer to see any potential litigation
5. O pinion
~ after G A P E whether he have sufficient appropriate audit evidence to determine the going concern status of the finacial statement .
Mitigating evidence to be consider before qualify audit report (where going concern is in doubt) ( director P E T )
1. D irector (discuss with director)
(a) to ascertain they aware of circumstances
(b) find out any plans developed to deal with going concern
2. P eriod of time covered the plan
(a) the longer the period ( the less certain of the plan become)
3. E xpectation , forecast, plan, budget to be examined
(a) consider assumption made
(b) more specific of the plan, the more relevant of evidence
4. T hird party confirmation
~ provide of financial / guarantee
Further detailed audit procedures on going concern :
( C L U E S > C F & minutes )
1. C ash flow, P&L and other relevant forecast
~ Analyse & discuss with the management
2.
(a)L oan agreement
~ Review to determine any bleached of term
(b)L itigation claims
~ Enquire lawyer about the existence, reasonable of mgt assessment & estimate of fin.implication
3. U nfulfilled customer orders
~ consider entity plans
4. E vents after period end
~ review & identify those mitigate or otherwise affect GC
5. S ystem reliability in generating cash flow information & whether there is adequate support for assumption underlying
6. Compare prospective financial information
~ recent prior period to historical period
~ current period to result achieved up to date
7.
(a)F inancial statement (latest interim)
~ arrange & discuss
(b)F inancial support
~ Confirm existence,legality & enforce ability of arrange with related party
~ Assess financial ability of such party provide additional funds
8. M inutes of meeting with shareholder, BOD & committee
~ review references to finacial difficulties
Symptoms of overtrading ( S C A R E )
1. S tock level increase
2. C ash flow & heavy reliance on short term creditor & overdraft
3. A ctivity level increase ( sales increase)
4. R atio (quick & current ratio decrease to unaccepatable level)
5. E xpenses on fixed asset
Assumption that an enterprise will continue in operational existence in the foreesable future(min. period of one year after the accounting period)
Indicator of non going concern ( P & L > S E L L )
1. P rofit
2. L iquidity (inadequate working capital & inability to finance loan when they fall due)
3. Supplies lesser & business failure
4. E xchange rate (adverse)
5. L ow margin (high cost can compensate with increase sales price)
6. L iquidity problem (high gearing & LT asset finance by ST borrowing)
Audit approaches on going concern issues (C O M A ):
1. C hecklist to review the going concern
2. O pinion formulation ( qualify or not qualify)
3. M anagement discussion
~ significant unexplained variance
~ future managerial action
~ future funding requirement
4. A nalytical review
~ financial ratios (P/L & B/S)
~ internal management ratios (effiency & productivity)
Auditor role - techniques determining GC concept (F A R C E)
1. F inancial support availability
~ co ability to maintain viability of itself & pension fund
~ assurance of fund in writing ( representation letter)
2. A uditor task & opinion
~ procedure specifically identify matter doubt director view GC
~ opinion on uncertainty to audit report
3. R eview / report :
~ assess adequacy on going concern through enquire management, observe the staffs, examine cash flow & profit forecast
4. C ash flow forecast :
~ director prepare cash flow
~ cash flow prepared (review consider available)
5. E vidence from director
~ adequate cash resources
~ no post balance sheet events which significant after balance sheet position
~ written statement going concern status
Auditor responsibility look for going concern (G A P E > opinion)
1. G rounds
~ Consider there are reasonable ground that the financial statement are prepared on going concern basis
2. A lternative counter lancing factors
Plan management to overcome problem
(a)well plan support by a profit forecast, cash flow, operating budget, reasonable key assumption concern profit forecast & consistency of pass performance.
(b) written confirmation from third party
~ borrowing facilities will continue extend / renew at what level together with any securities require
3. P reparatory procedure
(a) review interim and management account
(b) consult from management & staff to determine going concern
~ determine the post Balance sheet performance
~ ensure consistent of forecast
4. E vidence
(a) inspect corresponding files in supplier & customer to see any potential litigation
5. O pinion
~ after G A P E whether he have sufficient appropriate audit evidence to determine the going concern status of the finacial statement .
Mitigating evidence to be consider before qualify audit report (where going concern is in doubt) ( director P E T )
1. D irector (discuss with director)
(a) to ascertain they aware of circumstances
(b) find out any plans developed to deal with going concern
2. P eriod of time covered the plan
(a) the longer the period ( the less certain of the plan become)
3. E xpectation , forecast, plan, budget to be examined
(a) consider assumption made
(b) more specific of the plan, the more relevant of evidence
4. T hird party confirmation
~ provide of financial / guarantee
Further detailed audit procedures on going concern :
( C L U E S > C F & minutes )
1. C ash flow, P&L and other relevant forecast
~ Analyse & discuss with the management
2.
(a)L oan agreement
~ Review to determine any bleached of term
(b)L itigation claims
~ Enquire lawyer about the existence, reasonable of mgt assessment & estimate of fin.implication
3. U nfulfilled customer orders
~ consider entity plans
4. E vents after period end
~ review & identify those mitigate or otherwise affect GC
5. S ystem reliability in generating cash flow information & whether there is adequate support for assumption underlying
6. Compare prospective financial information
~ recent prior period to historical period
~ current period to result achieved up to date
7.
(a)F inancial statement (latest interim)
~ arrange & discuss
(b)F inancial support
~ Confirm existence,legality & enforce ability of arrange with related party
~ Assess financial ability of such party provide additional funds
8. M inutes of meeting with shareholder, BOD & committee
~ review references to finacial difficulties
Symptoms of overtrading ( S C A R E )
1. S tock level increase
2. C ash flow & heavy reliance on short term creditor & overdraft
3. A ctivity level increase ( sales increase)
4. R atio (quick & current ratio decrease to unaccepatable level)
5. E xpenses on fixed asset
Sunday, November 18, 2007
Other reporting matters
Director statement of responsibilities
1. True & fair view of financial statement
2. Income & expenses whether or not incurred in that period
3.Going concern of the financial statement
4.Estimate & judgement are consistent
5.Records completed & comply with requirement
Solution to overcome expectation
1. Contents of audit report
2. directors sttement of responsibilities
3. corporate governance & internal control& risk management
Opening balances & comparatives
1. Appropriate b/d
2. Accounting policy comply with
3. Agree with preceding period financial statement
1. True & fair view of financial statement
2. Income & expenses whether or not incurred in that period
3.Going concern of the financial statement
4.Estimate & judgement are consistent
5.Records completed & comply with requirement
Solution to overcome expectation
1. Contents of audit report
2. directors sttement of responsibilities
3. corporate governance & internal control& risk management
Opening balances & comparatives
1. Appropriate b/d
2. Accounting policy comply with
3. Agree with preceding period financial statement
Test of control - credit purchases
**OCCURRENCE (nothing is duplicated / validity)
1.Select a sample of PO & ensure the authorisation limit was not exceeded
2.Select 3 mths in the PDB & ensure there are no duplicate supplier invoices & GRN
3.Vouch the entries in PDB to copies of invoices, GRN & PO
4.vouch the entries in inventory records to copies of invoices, GRN & PO
5.Vouch entries of purchases in purhcase ledger to copier of supplier invoice, GRN & PO
**COMPLETENESS (nothing is missing)
1.Select 3 mths in PDB & ensure the numerical sequence of GRN not broken
2.Select a sample of GRN & ensure this matching to the purchases invoice
3.Examine the existence of unmatched GRN in PDB & compare with the weekly report on unmatched GRN
4.Trace GRN to purchase invoice & entry into PDB & purhcases ledger
5.Select 3 mths & check evidence of review reconciliation of supplier statement with the purchases ledger & reconcilaition checked by the officer
**ACCURACY
1. Vouch detail of some supplier invoices to GRN & original contract in respect of price.
2. Select a sample of GRN & ensure that :
~There is evidence to check the invoices is cast accurately cast & extension
~The related invoice was initialled in the invoice grid for work done
3. Recompute the information of the invoice
4. Select 3 mths & check for evidence of review of reconciliation of supplier statement with the purchases ledger & that reconciliation was checked by an officer & reviewed evidence
5. Vouch entries in PDB to invoice
**TIMING
1. Examine the evidence of the unmatched GRN in PDB at the time of the test
2. Select 3 mths & check for evidence of review of reconciliation of supplier statement with the purchases ledger & that reconciliation were checked & reviewed by an officer
**CLASSIFICATION
1. Review the chart of account for adequacy of classification of the different types of purchases
2. Select a sample of GRN & ensure that :
~There is evidence of account coding (individual creditor & PDB were correctly updated as to account , amount & period
~The related invoice was initialled in the invoice grid for work done
3.Select 3 mths & check for evidence & review of reconciliation of the supplier statement with purchases ledger & that reconciliation were checked by an officer & reviewed evidenced
**POSTING
1. Cast the PDB
2. Select 3 mths & ensure the PLC was correctly posted using the PDB total
3. Select 3 mths & check for evidence of review of reconciliation of PLC with the purchases ledger & that reconciliation were checked by an officer & review evidenced
1.Select a sample of PO & ensure the authorisation limit was not exceeded
2.Select 3 mths in the PDB & ensure there are no duplicate supplier invoices & GRN
3.Vouch the entries in PDB to copies of invoices, GRN & PO
4.vouch the entries in inventory records to copies of invoices, GRN & PO
5.Vouch entries of purchases in purhcase ledger to copier of supplier invoice, GRN & PO
**COMPLETENESS (nothing is missing)
1.Select 3 mths in PDB & ensure the numerical sequence of GRN not broken
2.Select a sample of GRN & ensure this matching to the purchases invoice
3.Examine the existence of unmatched GRN in PDB & compare with the weekly report on unmatched GRN
4.Trace GRN to purchase invoice & entry into PDB & purhcases ledger
5.Select 3 mths & check evidence of review reconciliation of supplier statement with the purchases ledger & reconcilaition checked by the officer
**ACCURACY
1. Vouch detail of some supplier invoices to GRN & original contract in respect of price.
2. Select a sample of GRN & ensure that :
~There is evidence to check the invoices is cast accurately cast & extension
~The related invoice was initialled in the invoice grid for work done
3. Recompute the information of the invoice
4. Select 3 mths & check for evidence of review of reconciliation of supplier statement with the purchases ledger & that reconciliation was checked by an officer & reviewed evidence
5. Vouch entries in PDB to invoice
**TIMING
1. Examine the evidence of the unmatched GRN in PDB at the time of the test
2. Select 3 mths & check for evidence of review of reconciliation of supplier statement with the purchases ledger & that reconciliation were checked & reviewed by an officer
**CLASSIFICATION
1. Review the chart of account for adequacy of classification of the different types of purchases
2. Select a sample of GRN & ensure that :
~There is evidence of account coding (individual creditor & PDB were correctly updated as to account , amount & period
~The related invoice was initialled in the invoice grid for work done
3.Select 3 mths & check for evidence & review of reconciliation of the supplier statement with purchases ledger & that reconciliation were checked by an officer & reviewed evidenced
**POSTING
1. Cast the PDB
2. Select 3 mths & ensure the PLC was correctly posted using the PDB total
3. Select 3 mths & check for evidence of review of reconciliation of PLC with the purchases ledger & that reconciliation were checked by an officer & review evidenced
Audit of acc.receivable / acc.payable @ Y/E
1.Opening balances
Agree opening balances to prior year working paper
(Correct b/f, not misstatement,policy consistent)
2. Analytical Procedure
------Sales .review the trend of the sales
.compare the actual sales with budgeted sales
.compute gross profit to ensure all sales are taken up
--Receivable.compute the age of receivable
3.Reconciliation
.Obtain a list of sales ledger balances from the client and check correctness of individually sales ledger balances.Cast listing
.Agree the control account to balances to general ledger
.if the total on control account balances do not agree with the sales leger listing, request client for reconciliation
.audit the reconciliation by checking validity of reconciling item
4. Sales cut off test
.Obtain the last DO number issued for the year
.Take a block of DO before the year end and after the year end to ensure relevant entries have been entered into sales day book & sales ledger in the proper accounting period
5. Sales returns cut off test
.Identify material CN issued after year end , examine the supporting document(such as good inwards notes & determine the reason for the return & were recorded in the correct accounting year end.
6. Cash receipts cut off test
.Obtain the post slip for the last working day of the year to ensure each supported by a validated bank in slip
.Trace the deposit slip to the subsequent period bank statement
.Ensure the receipt were credited to the relevant receivable
7. Unmatched DO
.Review the sales day book in following period to identify the unmatched DO & ensure they are accrued for the year end
8. Debtor confirmation
.ensure balances are correct before preparing the letter
.decide on appropriate method of confirmation(## positive or negative)used for circularisation
.categories the accounts to different group & select the debtor for circularise(large balances,zero balances or credit balances)
9.provision for doubtful debt
.credit limit was exceed
.age of debtor comparison to previous period
.subsequent period payment by debtor in the post balance sheet
.payment history of the history if no payment made in post balance sheet period
.any legal action taken on debtor
.whether the debtor gone into liquidation
## Positive - make sure reply ( Large ind. bal D I E )
1. L arge individual balance
2. D ispute amount & irregularities suspicious
3. I nternal control weak
4. E rrors in book keeping numerous
## Negative - reply if dispute ( A L I )
1. A ttention
2. L arge individual small a/c
3. I nternal control strong
Agree opening balances to prior year working paper
(Correct b/f, not misstatement,policy consistent)
2. Analytical Procedure
------Sales .review the trend of the sales
.compare the actual sales with budgeted sales
.compute gross profit to ensure all sales are taken up
--Receivable.compute the age of receivable
3.Reconciliation
.Obtain a list of sales ledger balances from the client and check correctness of individually sales ledger balances.Cast listing
.Agree the control account to balances to general ledger
.if the total on control account balances do not agree with the sales leger listing, request client for reconciliation
.audit the reconciliation by checking validity of reconciling item
4. Sales cut off test
.Obtain the last DO number issued for the year
.Take a block of DO before the year end and after the year end to ensure relevant entries have been entered into sales day book & sales ledger in the proper accounting period
5. Sales returns cut off test
.Identify material CN issued after year end , examine the supporting document(such as good inwards notes & determine the reason for the return & were recorded in the correct accounting year end.
6. Cash receipts cut off test
.Obtain the post slip for the last working day of the year to ensure each supported by a validated bank in slip
.Trace the deposit slip to the subsequent period bank statement
.Ensure the receipt were credited to the relevant receivable
7. Unmatched DO
.Review the sales day book in following period to identify the unmatched DO & ensure they are accrued for the year end
8. Debtor confirmation
.ensure balances are correct before preparing the letter
.decide on appropriate method of confirmation(## positive or negative)used for circularisation
.categories the accounts to different group & select the debtor for circularise(large balances,zero balances or credit balances)
9.provision for doubtful debt
.credit limit was exceed
.age of debtor comparison to previous period
.subsequent period payment by debtor in the post balance sheet
.payment history of the history if no payment made in post balance sheet period
.any legal action taken on debtor
.whether the debtor gone into liquidation
## Positive - make sure reply ( Large ind. bal D I E )
1. L arge individual balance
2. D ispute amount & irregularities suspicious
3. I nternal control weak
4. E rrors in book keeping numerous
## Negative - reply if dispute ( A L I )
1. A ttention
2. L arge individual small a/c
3. I nternal control strong
Threat to independent
1. Familiarity threat
EA have been audit partner for the past five years.
An EA independence may impaired reason being the close relationship between them.
These may impaired the judgement on the financial statement
Therefore recommended that rotation of the audit partner to avoid familiarity threat
2. Self Review
EA prepare the financial statement as well as carrying audit could provide a self review threat as they may not seen their error or want to report the errors they have been prepared before.
EA should therefore reject the preparation of financial statement
3. Advocacy Threat (supporting client)
Attending the social event with respect to the listing may be inappropriate as EA may be seen as supporting his client in this venture.
There is a threat of advocacy.
Support the client may seen as the the EA are too close with the client.
Therefore they may lose their independent view regarding the audit.
there is also a threat of familiarity.
EA therefore politely reject the invitation by stated reason.
4. Self interest
Under the ACCAs codes of ethics, the EA should not hold any beneficial shares in the client company.
The provision include the audit staffs involved in the audit as they maybe more interested in value of the shares rather rather then correct opinion of the audit.
The shares should be therefore disposal as soon as possible to prevent any potential independence problem
5. Undue dependence
Unpaid fee in respect of taxation services can constructed as loan to client.
An outstanding loan will affect independence as closure of the loan are seen more important than provide an appropriate audit opinion.
EA may need to discuss the matter with the board suggesting payment made alternatively audit work may need to delay until the fees paid
EA have been audit partner for the past five years.
An EA independence may impaired reason being the close relationship between them.
These may impaired the judgement on the financial statement
Therefore recommended that rotation of the audit partner to avoid familiarity threat
2. Self Review
EA prepare the financial statement as well as carrying audit could provide a self review threat as they may not seen their error or want to report the errors they have been prepared before.
EA should therefore reject the preparation of financial statement
3. Advocacy Threat (supporting client)
Attending the social event with respect to the listing may be inappropriate as EA may be seen as supporting his client in this venture.
There is a threat of advocacy.
Support the client may seen as the the EA are too close with the client.
Therefore they may lose their independent view regarding the audit.
there is also a threat of familiarity.
EA therefore politely reject the invitation by stated reason.
4. Self interest
Under the ACCAs codes of ethics, the EA should not hold any beneficial shares in the client company.
The provision include the audit staffs involved in the audit as they maybe more interested in value of the shares rather rather then correct opinion of the audit.
The shares should be therefore disposal as soon as possible to prevent any potential independence problem
5. Undue dependence
Unpaid fee in respect of taxation services can constructed as loan to client.
An outstanding loan will affect independence as closure of the loan are seen more important than provide an appropriate audit opinion.
EA may need to discuss the matter with the board suggesting payment made alternatively audit work may need to delay until the fees paid
Factors to appoint a external consultant
1. Qualification
He should have relevant qualification to show ability to perform his job
2. Previous working experience
He can show related working experience from previous job
3. Acceptance by other staffs
Employing an external consultant may be difficult as ohter staffs may feel threatened of their job therefore Chief Internal Auditor must ensure internal staffs understand the reason of employing the consultant
4. References
He is able to to provide related refrences from previous employer showing the capability to undertake the work.
5. Project Management skill
He should able to display appropriate project management skill such as leading a team as performing the job need the cooperation form other staffs
6. Confidentiality
He may access to all relevant data that may seem confidential to the Co. Therefore he may need not to disclose the co information to third party
He should have relevant qualification to show ability to perform his job
2. Previous working experience
He can show related working experience from previous job
3. Acceptance by other staffs
Employing an external consultant may be difficult as ohter staffs may feel threatened of their job therefore Chief Internal Auditor must ensure internal staffs understand the reason of employing the consultant
4. References
He is able to to provide related refrences from previous employer showing the capability to undertake the work.
5. Project Management skill
He should able to display appropriate project management skill such as leading a team as performing the job need the cooperation form other staffs
6. Confidentiality
He may access to all relevant data that may seem confidential to the Co. Therefore he may need not to disclose the co information to third party
Responsibilities of EA & IA on detect fraud
Main reason for audit work
EA main responsibility is to form an opinion on the financial statement.
Therefore the main focus of the audit work is therefore ensure true & fair view of the financial statement .
The detection of fraud is therefore not the main focus of EA
The main focus of the IA is to review the effectiveness of the Internal control system.Part of the IA responsibilty is to prevent and detect the fraud an errors being occured.
Materiality
In reaching the audit opinion & perform the audit work, EA takes into account the materiality concept which he is not responsible to check all transaction but choosing a sample of the material item. Audit procedure are planned to have a reasonable likelihood to identifying material fraud
However the IA may using much lower materiality limits to carry out detailed substantive testing review of transactions to detect fraud from their audit testing.
Identification of fraud
In situation where EA does detect fraud, then the EA may need to consider the implication for the entire audit ,therefore they have the responsibilities to extend testing to inot other areas because the risk of provide incorrect opinion will be increased
Where IA does detect fraud, they may need to extend testing to others areas to ensure similar fraud not occured in other areas.
EA main responsibility is to form an opinion on the financial statement.
Therefore the main focus of the audit work is therefore ensure true & fair view of the financial statement .
The detection of fraud is therefore not the main focus of EA
The main focus of the IA is to review the effectiveness of the Internal control system.Part of the IA responsibilty is to prevent and detect the fraud an errors being occured.
Materiality
In reaching the audit opinion & perform the audit work, EA takes into account the materiality concept which he is not responsible to check all transaction but choosing a sample of the material item. Audit procedure are planned to have a reasonable likelihood to identifying material fraud
However the IA may using much lower materiality limits to carry out detailed substantive testing review of transactions to detect fraud from their audit testing.
Identification of fraud
In situation where EA does detect fraud, then the EA may need to consider the implication for the entire audit ,therefore they have the responsibilities to extend testing to inot other areas because the risk of provide incorrect opinion will be increased
Where IA does detect fraud, they may need to extend testing to others areas to ensure similar fraud not occured in other areas.
Communication between audit firm & audit committee
Under the system of corporate gorvenance ,the external audit primary point of contact with the company is the audit committee, the reason being,
1. EA ensure there is an independent between the BOD and the audit committee.The audit committee consist of NED who by definition are independent of the Co therefore take an objective view of the audit report.
2. In audit committee, they have more time to review the audit report compare to the BOD . The EA therefore benefit from the audit report being reviewed carefully.
3. The AC can ensure the recommendations from EA are implemented because they have independent NED thet can pressurise the BOD to take in action on EA recommendation
4. The AC have more time to review the effectiveness & effiency of the EA work, therefore can make recommendations on re-appointment of EA
1. EA ensure there is an independent between the BOD and the audit committee.The audit committee consist of NED who by definition are independent of the Co therefore take an objective view of the audit report.
2. In audit committee, they have more time to review the audit report compare to the BOD . The EA therefore benefit from the audit report being reviewed carefully.
3. The AC can ensure the recommendations from EA are implemented because they have independent NED thet can pressurise the BOD to take in action on EA recommendation
4. The AC have more time to review the effectiveness & effiency of the EA work, therefore can make recommendations on re-appointment of EA
Director's action to meet corporate gorvenance requirement
1. Ensuring the chairman and the CEO is the different people
2. Appoint the non executive director to the board & ensuring the number of non-executive director = executive director - chairman
3. Ensuring at least one of the NED have relevant finacial experience
4. Appointing the NED to audit committee, remuneration committee & appointment remuneration
5. Establish the internal audit department to review internal control system & financial statement and make report to the audit committee
6. Ensure the management has appropriate adequate system of internal control & director have the responsibilities to maintain the system
2. Appoint the non executive director to the board & ensuring the number of non-executive director = executive director - chairman
3. Ensuring at least one of the NED have relevant finacial experience
4. Appointing the NED to audit committee, remuneration committee & appointment remuneration
5. Establish the internal audit department to review internal control system & financial statement and make report to the audit committee
6. Ensure the management has appropriate adequate system of internal control & director have the responsibilities to maintain the system
Modification of audit report
1. Emphasis of matter para
Used when the auditor need to draw attention to the management of an item in the
financial statement
2. Qualification-Limitation on scope
Used where the auditor unable to obtain sufficient appropriate audit evidence
regarding an item in the financial statement
3. Qualification-Disagreement
Used where auditor disagree concerning the disclosure or amount of an item in the
financial statement
Used when the auditor need to draw attention to the management of an item in the
financial statement
2. Qualification-Limitation on scope
Used where the auditor unable to obtain sufficient appropriate audit evidence
regarding an item in the financial statement
3. Qualification-Disagreement
Used where auditor disagree concerning the disclosure or amount of an item in the
financial statement
Contents of an engagement letter
1.Scope and objective of the audit financial statement
2.Acceptance of audit engagement
3.Fees calculation and billing arrangement
4.Extend of auditors & management responsibilities for the F/S
5.Management representation by the director for an additional audit evidence
6.Access to all relevant data and records by auditor
7.Standard accounting compliances & appropriate legislation applied
2.Acceptance of audit engagement
3.Fees calculation and billing arrangement
4.Extend of auditors & management responsibilities for the F/S
5.Management representation by the director for an additional audit evidence
6.Access to all relevant data and records by auditor
7.Standard accounting compliances & appropriate legislation applied
Types of audit evidence obtained by auditor
(1)Analytical Procedure
Evaluation of financial information made by a study of plausible relationship
among both financial & non financial data
(2)Examination / Inspection
examination of records or documents in any form , either by manual or computerised
(3)Inquiry
Seeking of information from a knowlegdeabe person both financial or non financial
from inside or outside the entity being audited
(4)Observation
Looking at the process or procedures being carried out by others
(5)Computation / recalculation
checking the arithmetically accuracy of the data
(6)Confirmation
Process of obtain a representation letter from the 3rd party. Eg: receivable
letter.
"myself"
sometimes
i don't really know who i am ?
what kind of person am ?
am i an optimistic or " thinking negative" gal?
many question marks appears onmy mind....
This month really have many good memory happened....
Suprises birthday party by my friends
Go to watch the night view in " Bukit Hulu Langat"(wow its really brilliant)
have an enjoyable night by celebrating Siew har's birthday
...............
but why i still feel so empty, unhappy?/?
isn't because of my exam is near....
and i already fail many times.....
plus this is again the new syallubus....
which give me more stresssssss on it?
i been try hard to relax & free my mind
by listening to radio, sleeping, jogging ....
but why i still feel so sad....
hai.....iiii
I think i really need a fresh and positive mind...
to confront my future....
its just an examination,
no big deal, what...!
just confront with it
what if i fail again???
Fail doen't mean u fail everything.....
Don't you forget the article you write before....
Hahaahah....
Don't you forget the words you always said....
Exter " GANBADEI "
"JIA YOU"..."JIA YOU"....
Wednesday, October 31, 2007
Happy Birthday " Ain & Exter"
Yeah yeah , birthday is coming.....
This is my lucky birthday bear bear which i bought in few mths ago....
Suprisingly, yesterday Pei Ling went to my house to give me a gift, which include this birthday bear bear also.....hahahah
We are so " xin lin xiang tong" ,hahahha accidentally the chain of lucky bear bear that i bought was broken last few day. so i can replace it to my my bag, while mine one have placed it on my working desk.....HEehehee
This is the actual date of birth of "Ain", my lovely colleague,Hapi birthday Ain... hihi our boss just give us the money to buy " secret recipe" to celebrate at this afternoon...
Thank u very much, Mr Chin...
"The Garden-Mid Valley"
This is the new shopping mall "Garden" which beside Mid Valley...
Wow, its just like a 5 star hotel shopping mall, the staffs are all wearing coat, there is so spacious & many luxurious sofa for the shoppers.There is a lot of imported goods selling at this shopping mall.
Another thing to highlight is the ground floor toilet charged RM 5.00.
Oh dear, y so expensive.?? Luckily only ground floor toilet are charging, other floor toilet are free of charge... Hehehehe (theis toilet are 5 star oh)
"Happy Deepavali"
Gorgeous design with colorful rice on the stage & different types of " kacang putih" which sell at Mid Valley Megamall.
Happy Deepavali to all of u....
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