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Malacca tips

Lecture 1

component of public sector (from midterm)

features of public sector
separation power of government (from midterm)
relationship between federal and state government
public sector accounting

Lecture 2

8main categories
o Revenues (statutory grants, non-statutory grants, 4major types of grants to
state government)
o Expenditures (supply and charge expenditure)
o Borrowings
o Budgets and financial statements
o Auditor general
o National finance council
o Special provisions for sabah and Sarawak
Financial procedure for virements

Lecture 3

National revenues
National expenditures
Budget preparation process
The concept of 3Es

Lecture 4

Traditional budgeting systems (advantages and disadvantages)

PPBS (advantages and disadvantages)
MBS (inputoutputimpact, advantages)

Lecture 6

Government accounting personnel

o ACCG Controlling officer
o Accounting officer
o Surcharge (section18-21), accounting for receipts, accounting for payment,
payment for purchases, recording of payment transactions, procedure for
recording vote book, procedure for reconciliation of vote book, accounting for
petty cash payments

Lecture 7

Objectives of financial reporting

Public sector vs private sector
Users of public accounts

Lecture 8

What is audit
Purpose of audit
External audit (financial, compliance, performance)
Public accounts committee (definition and objective)

Lecture 9

Accountability (objectives, types, recommendations)

Advanced audit
No lecture 6, 9, 10
No operation, government, bank
Tutorial 13 1question (6m)
Lecture 2 (20m)

Fundamental principles of ethics

Threats to compliance (10m)
Safeguards to address threats to compliance
Changes in professional appointment
Independence as defined in IFAC Code
Provision of internal audit services to audit clients (20m)

Lecture 3: auditors legal liability full question


Deep pocket (5m)

*cannot use Caparo case (midterm question auditor is liable)

Lecture 4: audit risk part question


Definition (going concern/subsequent event/related party) (2m)

Lecture 5: completing an audit engagement part question

Lecture 7: the effect f information technology of internal control full question (20m)

CAAT (20m)
Types of controls in an IT environment (general, application)
*Tutorial part question

Lecture 8: internal auditing


Internal auditing
Outsourcing the internal auditing services part question (5/7m)
IIA arguments in favour of outsourcing (got 9points) (7/9m)
IIAs stands

*essential elements of internal audit-lecturer upload

Chapter 19 options (most difficult questions)
Chapter 16 technical analysis
Chapter 12 efficient market
Chapter 9 assets pricing model
Chapter 15 company analysis
Chapter 20 futures contract
Chapter 17 bonds
Chapter 14 industry analysis
Chapter 5 all financial markets have regulations and trading practices
*portfolio return, standard deviation, variance, WACC (only WACC formula is given)
70%calculation, 30%theory

1) Board of directors, composition, roles and responsibilities
- please refer Companies Act 1965 particularly on PART V- MANAGEMENT AND
- fiduciary duties
- other relevant documents that will allow students to understand the roles and responsibilities
of directors and management of the company e.g. code on corporate governance etc
2) Accounting information systems
- Principles of internal control
- organizational structure
- standard operating procedures for various accounting cycles.

Cyber tips
Advanced audit

a. Auditing computerized accounting system

Wages system (application & general control)
Test data
b. Independence & threats
Threats (self review, advocacy, ..)
Mini scenario
c. Internal auditing/ auditor
Advantages/disadvantages of IA
Wat external auditor should consider or expect in an IA (quality control)
Outsourcing (when the company should outsourcing) (article)
d. Going concern
Wat is GC
Why important to External auditor
Mini scenario related GC
How External Auditor indentify GC
e. Legal liability negligence
Deep pocket
Mini scenario related to external auditor & client & related parties

Past year to be focus

21 DEC 2009
Q3, Q4, Q5
27 SEPT 2010
11 FEB 2012
4 FEB 2013
1, 2,3,4,5
2 OCT 2009
1, 2,3,4,5



Tbs, ppbs, mds,

Public sector vs private sector (difference)



Sensitivity and simplex

Transportation and assignment

Project management

Decision analysis

Inventory control