Internal Control Questionaire

Reporting entity: PT Resintech Indomas
Reporting period: 1 April 2022 to 31 March 2023

Subject: Group Audit Questionnaire
Insert responses in the shaded boxes
Parent entity Resintech Berhad

Subsidiary entity/entities
Name and address of auditors of subsidiary entity

KAP Riyanto, SE, Ak
Accounting period From: 1 April 2022 To: 31 March 2023
Audited financial statements required by (date) 12 July 2023
This questionnaire should be returned to (firm name and Crowe Horwath AF 1018
address):
Marked for the attention of Lim Yen You
Name Riki Halim
E-mail riki.kapriyanto@gmail.com
PLEASE INFORM US AS SOON AS POSSIBLE OF ANY EXPECTED DELAY IN COMPLETING THIS QUESTIONNAIRE
OR WHERE IT IS EXPECTED THAT THE AUDIT REPORT WILL INCLUDE A QUALIFIED OF MODIFIED OPINION.
YOU WILL BE REQUIRED TO CARRY OUT A SUBSEQUENT EVENTS REVIEW PRIOR TO THE SIGNING OF THE
GROUP FINANCIAL STATEMENTS. PLEASE ENSURE THAT THIS IS COMPLETED THROUGH TO (Date) AND WE
ARE NOTIFIED IMMEDIATELY OF ANY SIGNIFICANT MATTERS ARISING FROM THIS REVIEW.
A FINAL LIST OF GROUP ENTITIES IS ATTACHED FOR YOUR INFORMATION. This is/is not identical with that provided
during the planning phase.
A FINAL LIST OF OFFICERS OF THE PARENT ENTITY AND OTHER RELATED PARTIES IS ATTACHED FOR YOUR
INFORMATION. This is/is not identical with those provided during the planning phase.
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© 2021 Crowe Malaysia PLT
Index
Section
A Independence and applicable audit and accounting standards
B Audit control, completion and communications
C Review procedures
D Audit planning
E Subsequent events
F Laws and regulations
G Going concern
H Related parties
I General ledger
J Property, plant and equipment
K Intangible assets
L Revenue cycle - trading account
M Revenue cycle - other
N Expenditure cycle - purchases - trading account
O Expenditure cycle - purchases - other
P Expenditure cycle - payroll, pensions and other post-employment benefits
Q Inventory
R Treasury cycle
S Taxation
T Provisions
U Capital, reserves and dividends
V Contingencies and commitments
W Cash flow statement
X Other associated information
Y Consolidation
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A. INDEPENDENCE AND APPLICABLE AUDIT AND ACCOUNTING STANDARDS

1. Level of Fees
Professional ethics requires a review to be made of the fees for audit and other work paid by one client or group of
connected clients. Before accepting a new client, a comparison of this amount with the gross practice income (GPI)
must be made. As a guideline, if the fees exceed 10% of GPI (5% in the case of a listed client), then consideration
should be given as to whether the firm can continue to act with objectivity. If the fees exceed 15% of GPI (10% in the
case of a listed client) then there will always be a threat to objectivity. In any of these circumstances, the assignment
must be subject to a review by a partner unconnected with the engagement before the audit is accepted and other
safeguards sufficient to reduce the threat to independence to an acceptable level.
Yes/No/ (If Yes, please provide details)

NA
Do the aggregate fees earned from the component exceed 5% No
of the practice income?
2. Conflicts of Interest
Professional ethics requires a review to be undertaken as to whether there are any conflicts of interest between any
new client and any existing client of the firm. Where this arises, the audit partner and staff should not deal with both
clients. In extreme cases, the firm should refrain from acting or resign from one client. A partner independent of either
client should be consulted before action is taken.
NA
Are there procedures in place to identify conflicts of interest Yes We did background check.
between the entity and any other client of the firm?

NA
Are there any known conflicts of interest between the entity and No
any other client of the firm?

NA
Professional ethics requires care to be taken where Yes Client has sent us management
accountancy and other services are provided to a client. In all
representation letter as proof of
such cases, the client must accept responsibility for the work
undertaken and the records produced. The firm must not management responsibility.
assume any management role within the entity and appropriate
audit tests must be made, even where the firm has processed
or maintained certain records.
NA
Has the client accepted responsibility for all records of the Yes Client has sent us management
component processed or maintained by the firm?
representation letter as proof of
management responsibility
NA
Professional ethics requires consideration to be given to the No
maintenance of independence when other non-audit services
are provided by the auditor to the client. In any of these
circumstances, the assignment must be subject to safeguards
sufficient to reduce the threat to independence to an acceptable
level.
Are there any instances of the auditor providing other non-audit
services to the client?
3. Personal Relationships
Professional ethics requires the firm, the Engagement Partner, the Engagement Manager and other members of the
client service team to be independent of the client. They and their immediate family should not be "closely connected"
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3. Personal Relationships
with the client. In addition, professional ethics requires that the audit partner and/or audit manager do not continue to
have primary responsibility for the provision of audit services for the client for a continuous period in excess of seven
years and may not recommence having primary responsibility for the provision of audit services for at least two years
following cessation under these requirements.
NA
Do either the Engagement Partner, the Engagement Manager No
or any member of staff engaged in the audit have any personal
relationship which might be perceived as prejudicial to
independence?
4. Financial Involvement
Professional ethics requires that the firm, partners and staff have no beneficial interests in securities of a client, no trust
of which they are a beneficiary should have such an interest, and they should not have loans to or from a client.
NA
Do the Engagement Partner, the Engagement Manager or any No
member of staff engaged in the audit have any financial
involvement with the component?
5. Relevant Experience
Professional ethics requires a practice to decline an appointment where it is unlikely to be able to provide a satisfactory
service to the client, whether due to lack of industry expertise, inexperience of the regulatory or professional
requirements under which the client operates or some other reason
NA
Do the Engagement Partner and the Engagement Manager Yes Yes, the engagement partner has
have relevant experience adequate to provide a satisfactory
audit experience of over 20 years.
service to the component?
6. Competency and Character

Professional regulation requires all individuals involved in audit work, including sub-contractors and temporary staff, to
possess the necessary competencies for their role. This includes the qualifications, knowledge, skills, experience and
reliability of individuals involved in the audit. Individuals should also exhibit proper character and suitability for the role
including individual’s adherence to relevant ethical standards; adherence to professional standards, relevant legislation
and regulations; behaviour in personal as well as professional life and financial integrity.
NA
Are all partners and staff involved in the audit competent to fulfil Yes Yes, all partners and staff have no
their responsibilities and do all individuals exhibit the proper
integrity and independence
character and suitability for their role in the audit?
problems.
7. Accounting and Auditing Standards

There are variations in accounting and disclosure requirements between jurisdictions, which may be specific to the
country of domicile of the entity or generally accepted internationally. There are variations in audit regulation and
procedures between jurisdictions, which may be specific to the country of domicile of the entity or generally accepted
internationally.
Indicate the standards that have been applied in the preparation and Accounting Auditing
audit of the financial statements of the entity:
International
Malaysia
United States of America
Country of domicile of entity - Indonesia Pernyataan Standar

Standar Akutnansi Profesional
4
7. Accounting and Auditing Standards

(PSAK) Akuntan Publik
(SPAP)
Other - If other please give details below
8. Accounting Policies
Provide a statement of significant accounting policies and notes on their practical application, especially as regards
timing of revenue recognition and any other accounting policies considered to be unusual.
Significant accounting policy Comments
Fixed Asset PSAK 16: Straight line
method
Financial Assets PSAK 71
Revenue and Expense Recognition PSAK 72
Transaction of Foreign Currencies Monetary accounts are

translated by using
forex at balance sheet
date.
Finance Income and Costs Presented as Net

Finance Income (costs)
With regard to foreign currencies please detail the policies applied to:
Type Policy
Trading transactions Using historical rate
Current balances arising from trading transactions For non-monetary assets and liabilities, using historical
rate. For monetary assets and liabilities, using balance
sheet date forex (closing rate). Exchange gains and losses
arising on transactions in foreign currency and on the
translation of foreign currency monetary assets and
liabilities are recognised in the statement of
comprehensive income.
Non-current assets and liabilities For non-monetary assets and liabilities, using historical
Investments For non-monetary assets and liabilities, using historical
Detail the types of exchange variation which are dealt with:
Treatment Type of exchange variation
Trading transactions Using historical rate
Current balances arising from trading transactions For non-monetary assets and liabilities, using historical
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8. Accounting Policies
Non-current assets and liabilities For non-current assets, using historical rate. For non-
monetary assets and liabilities, using historical rate. For
monetary assets and liabilities, using balance sheet date
forex (closing rate).
Investments For non-monetary assets and liabilities, using historical
sheet date forex (closing rate).
9. Other Experts
Yes/No/ (If yes please provide details of the
NA procedures that you carried out to
verify their independence from the
entity, the extent of their relevant
expertise and the qualifications and
experience of the individuals
involved in the assignment.)
Have any external experts been involved to a significant extent No
in the audit of the entity(s) covered by this return, or provided
material information to the entity on which reliance is being
placed?
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B. AUDIT CONTROL, COMPLETION AND COMMUNICATIONS

Yes/No/NA (If No, please give details below.)
Has your firm audited the financial statements of the whole entity No We only audit PT. Resintech Indomas.
including branches and subsidiary entities? We don’t audit other components of
the group.
In particular, what percentage have been audited by other firms of:
%
Revenue/Turnover -
Profit before taxation -
Fixed assets -
Net current assets -
Net assets -
Yes/No/NA (If Yes, describe below the
procedures undertaken to obtain
the necessary assurance.)
(If No, describe below the
compensating procedures that you
have undertaken.)
Were you satisfied by the audit procedures adopted by other N/A
firms involved in the audit of the entity?
Yes/No/NA (If No, describe the compensating

procedures that you have
undertaken.)
Are you satisfied that other firms involved in the audit of the N/A
entity have maintained an acceptable level of independence?
Yes/No/NA (If Yes, describe the limitations and

the compensating procedures that
you have undertaken.)
Were any limitations placed on the scope of your audit? No
Yes/No/NA (If No, describe the instances of

non-compliance and the
compensating procedures that you
have undertaken.)
Did the audit comply with all Objectives and Requirements Yes
specified by the applicable auditing standards?
1. Specific Controls
Yes/ No/ N/A Comments
1. Have detailed audit programmes been used? Yes ATLAS Working
Paper
2. Have risk assessments been made for all relevant audit assertions? Yes We have assessed
inherent risks,
business risks,
control risks that
comprise all risk of
material
misstatements.
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1. Specific Controls
3. Have tests of control been undertaken for all significant risks? Yes All business cycles
have been
assessed
adequately.
4. Have substantive tests been carried out in all critical areas? Yes All critical areas
such as sales,
purchase,
operating expenses
and others have
been carried out.
5. Have the nature and scope of substantive tests been set by reference to Yes We referred to
your evaluation of audit risk at the assertion level? assertions at
transaction,
account, and
presentation and
disclosure levels
6. Do the working papers record work done and conclusions drawn on all Yes All working papers
main audit areas? have recorded all
main audit areas.
2. Group Entity Balances

1. Have written confirmations been received of all amounts due to or from Yes
group entities?
2. Have all balances with group entities been shown separately from other Yes
assets and liabilities in the financial statements?
Attach a schedule of all balances with group entities included in the financial statements, indicating the caption(s) within
which they are presented in the financial statements. Include details of items included in accruals, prepayments,
allowances etc.
3. Associated Entities Balances

1. Have written confirmations been received of all amounts due to or from Yes
associated/related entities?
2. Have all associated/related entity balances been shown separately from Yes
other assets and liabilities in the financial statements?
Attach a schedule of all balances with associated/related entities included in the financial statements, indicating the
caption(s) within which they are presented in the financial statements. Include details of items included in accruals,
prepayments, allowances etc.
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C. REVIEW PROCEDURES
1. General
1. Have the financial statements and all audit working papers been Yes
reviewed in detail by an audit manager or partner?
2. Has the reporting partner carried out an overall review of the financial Yes
statements and of the working papers?
3. Has a review of the financial statements and working papers been carried
out by:
 A partner independent of the audit? Yes
 The firm's independent audit review/quality control department or Yes
function?
2. Financial Statements
1. Are the accounting policies adopted by the entity consistent with the Yes
previous period and with those of the parent entity and the ultimate
holding entity?
2. Have you provided details and stated the effect of any departure from N/A No accounting
accounting policies on the financial statements in a separate schedule? policy change
during the period
3. Have you confirmed that all items in the financial statements have been Yes
dealt with on a basis consistent with the previous period (subject to any
disclosed prior period adjustments)?
4. Have you confirmed that the entity has fully complied with the group's Yes
accounting instructions in the preparation of the financial statements?
5. Have you confirmed that the financial statements comply with:
 International Financial Reporting Standards/International Accounting
Standards and IFRICs/SICs.
 Relevant stock exchange listing agreements.
 Other standards and legislation relevant to the jurisdiction of Yes PSAK (Indonesian
incorporation. Accounting
Standard)
6. Have you obtained and reviewed statements reconciling management Yes
accounts with financial statements and resolved any significant
differences?
7. Have you ascertained and recorded the reasons for major changes
compared with budgets and/or previous periods in:
 Trading results Yes
 Non-trading income/expenditure Yes
 Assets Yes
 Liabilities Yes
 Key ratios? Yes
8. Have you confirmed that borrowing restrictions have not been exceeded? Yes
9. Have you obtained copies of all other material to be published in N/A No published
association with the financial statements and confirmed that material information
presented in these are not inconsistent with information presented in the
audited financial statements?
10. Have you confirmed that the financial statements have not been distorted Yes
by window dressing or in any other way?
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11. Do you consider that the financial resources of the entity are likely to Yes
prove adequate to enable it to continue to trade for at least one year from
the date of completion of this questionnaire?
12. Has proper account been taken of all adjusting subsequent events? Yes
13. Has proper disclosure been made in the financial statements of all non- Yes
adjusting subsequent events?
1. Were you satisfied that proper accounting records were maintained by Yes
the entity?
2. Confirm compliance with, or explain departures from appropriate financial
reporting framework criteria of:
 Relevance Yes
 Completeness Yes
 Reliability Yes
 Neutrality Yes
 Understandability? Yes
3. In your opinion do the financial statements give a true and fair view of
the:
 State of affairs of the entity; Yes
 Results for the period. Yes
 Cash flows for the period? Yes
If not, provide details.

4. Has a signed letter of representation been obtained from appropriate Yes
informed officers of the entity?
Enclose a copy for our records.
5. Has there been any evidence of fraud or unlawful acts committed by No
officers, principals or other employees of the entity? If yes provide details.
6. Has there been any evidence of breaches of applicable laws and No
regulations, including those not directly related to financial statements, in
the period covered by the financial statements? If yes provide details.
7. Have details been provided of any other matter which you consider No
should be brought to our attention?
8. If not already included in the financial statements have schedules giving N/A
details of any transactions and balances regarded as unusual in the
context of the entity’s operations, including the classification and
description of the transactions and balances in the financial statements
been provided?.
4. Internal Control
1. Have an examination and evaluation been made of the entity's system of Yes
internal control?
2. Is the entity's system of internal control:
 Adequate in the circumstances of the entity; Yes
 Effectively operated? Yes
3. Were tests of controls carried out to confirm the operation of internal Yes
10
4. Internal Control
control?
4. Were tests of key controls carried out as part of the current period audit? Yes
5. Were tests of controls mitigating significant risks carried out as part of the Yes
current period audit?
6. If there are major weaknesses in the system of internal control have No No major
these been brought to the attention of the entity's management and weaknesses in
subsequently reported in writing? internal control
system.
Attach copies of all reports on internal control submitted to the entity's management and, where different, those charged
with governance, during the period and replies received.
5. Insurance
1. Was there adequate appropriate insurance cover at the statement of Yes/ No/ N/A Comments
financial position date in regard to:
 Physical assets No No insurance
 Consequential loss No No insurance
 Employers' liability No No insurance
 Public liability No No insurance
 Product liability No No insurance
 Fidelity No No insurance
 Other risks relevant to the entity’s business and in compliance with No No insurance
relevant local legislation
11
D. AUDIT PLANNING
1. Planning
Does the audit planning process include an assessment of audit risk for each assertion specified above? Yes/No
Yes
(If No, please provide details below of how the level of audit risk was assessed within the audit plan.)
If audit risk is assessed provide details of the overall (environmental) risk assessment:
Entity
Inherent risk High
Mediu
m
Low Yes
Control risk High
Mediu
m
Low Yes
Conduct of the audit
Detection risk High
Mediu
m
Low Yes
Please provide further details below of areas assessed as high risk and audit procedures applied to respond to this
assessment.
Input text here.
Yes/No (If Yes, then please attach a copy.)
Does the audit planning process include the preparation of an Yes Already in ATLAS WP
audit planning memorandum?
Yes/No (If Yes, then please provide details

of the planning and performance
materiality levels applied.)
Does the audit planning process include the setting of Yes Already in ATLAS WP
materiality levels? (An item is regarded as material if its non-
disclosure, misstatement, or omission would be likely to distort
the review given by the financial statements.)
Please state the basis and applicable rates used in translating local currency to the group Group
reporting currency. Local reportin
currenc g
y currency
Statement of financial position Rupiah
Profit and loss account Rupiah
(If Yes, then please provide details of the planning and performance materiality levels applied.)
12
E. SUBSEQUENT EVENTS (FOR PERIOD THROUGH COMPLETION OF FIELDWORK AND SUBMISSION OF

THIS RETURN)
Yes/No/NA (If Yes, please provide details)
Are subsequent events regarded as having high audit risk for No
any audit assertion?
Yes/No/NA (If No, please provide details)

Have all audit assertions applicable to this file section been Yes
subject to audit procedures sufficient to provide adequate audit
assurance?
Value
Performance materiality for this file section: Rp.27.780.21
3
Control Objectives
Yes/ No/ Comments
N/A
1. Does the audit comply with all Objectives and Requirements of the Yes
auditing standard(s) relevant to this file section?
2. Can entity controls be relied upon to prevent:
 Material adjusting and non-adjusting events occurring between the Yes
statement of financial position date and the date of completion of the
audit fieldwork (‘subsequent events’) not being identified on a timely
basis?
 The potential implications of subsequent events not being established yes
and evaluated on a timely and accurate basis?
Overall Objectives
Yes/ No/ Comments
N/A
1. Are all significant subsequent events identified on a timely basis? Yes
2.Is the nature of each and every significant subsequent event established Yes
correctly on a timely basis?
3. Is the range of potential financial and other implications of each and every Yes
significant subsequent event established on a timely basis?
Supplementary Information
Attached
Yes/ No/ Comments
N/A
If not already included in the financial statements please include schedules of the No There are no
following: significant
subsequent
1. Post statement of financial position events (both adjusting and non- events that
adjusting) that are regarded as significant. needed to be
adjusted or
disclosed.
13
F. LAWS AND REGULATIONS

Is compliance with laws and regulations regarded as having No
high audit risk for any audit assertion?

Have all audit assertions applicable to this file section been Yes We check any law and regulation
subject to audit procedures sufficient to provide adequate audit that directly or indirectly influence
assurance? the entity during the period. All
relevant assertions have been
fulfilled adequately.
Value
3
Control Objectives
Yes/ No/ Comments
N/A
 Laws or regulations applying to the entity and its operations not being Yes
identified on a timely basis?
 Inadequate or inappropriate responses to applicable laws or Yes
regulations?
Overall Objectives
Yes/ No/ Comments
N/A
1.Does the entity have procedures to identify both proposed and Yes
implemented laws and regulations applicable to its business in the
jurisdiction(s) in which it operates?
2. Does the entity have resources appropriate to respond to laws and Yes
regulations by the time of their implementation?
Attached
Yes/ No/ Comments
N/A
If not already included in the financial statements please include schedules of the No There are no
following: significant laws
and regulation
1. Significant laws and regulations newly applying to the entity during the newly applied
period, together with a summary of the consequent obligations and during the period.
potential penalties for non-compliance.
14
G. GOING CONCERN
Is the appropriateness of the going concern basis for the No
preparation of the financial statements regarded as having high
audit risk for any audit assertion?
Have all audit assertions applicable to this file section been Yes All relevant assertions have been
subject to audit procedures sufficient to provide adequate audit fulfilled adequately.
assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
 Inaccurate or inappropriate management reports being prepared? Yes
 Management reports not being prepared on a timely basis? Yes
 Inappropriate interpretation of management reports by management Yes
when determining the appropriateness of the going concern basis?
Overall Objectives
Yes/ No/ Comments
N/A
1. Are management able to evaluate the on-going performance and financial Yes
position of the entity on a timely basis as a matter of routine, based on
reliable reporting of significant information?
2. Have management identified any future needs for additional finance, No
together with strategies for securing such finance?
3. Are any sources of finance subject to renegotiation within a period of not No
less than twelve months from the intended date of approval of the
financial statements; is there an established strategy for renegotiating or
replacing this finance?
Attached
Yes/ No/ Comments
N/A
If not already included in the financial statements please include schedules of the No No budget or
following: cash flow
projection
1. Management budgets and cash flow projections for at period of at least
twelve months from the intended date of approval of the financial
statements.
15
H. RELATED PARTIES
Are transactions and balances with related parties, the No
disclosure thereof, or the identification of such related parties,
regarded as having high audit risk for any audit assertion?
subject to audit procedures sufficient to provide adequate audit fulfilled adequately and sufficiently.
assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
 Related parties not being identified? Yes
 Transactions with related parties not being identified? Yes
 Transactions with related parties on unauthorised terms? Yes
Overall Objectives
Yes/ No/ Comments
N/A
1. Does the entity have procedures to identify related parties in the Yes
jurisdiction(s) in which it operates?
If not already included in the financial statements please include schedules of the Attached
following: Yes/ No/ Comments
N/A
1. Details of all individuals and entities regarded as related parties. Yes
2. Details of all transactions with identified related parties, indicating whether Yes
they are demonstrably on arm’s length terms or not.
3. Details of all balances (opening, closing and maximum balances, terms) Yes
with related parties.
16
I. GENERAL LEDGER
Is the maintenance of the general ledger regarded as having No

assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
2. Can entity controls be relied upon to prevent inappropriate, incorrect or Yes
unauthorised adjusting entries being made in the general ledger?
Overall Objectives
Yes/ No/ Comments
N/A
1. Are all transactions recorded in the general ledger which has not been Yes
audited elsewhere materially complete and accurate?
2. Are the financial statements in accordance with the accounting records? Yes
3. Are all journal entries appropriate to the circumstances of the entity? Yes
17
J. PROPERTY, PLANT AND EQUIPMENT

Are property, plant and equipment regarded as having high No

assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
 Additions to and disposals of property, plant and equipment being Yes
made without proper authorisation?
 Unrecorded movements of property, plant and equipment? Yes
 Errors in accounting for property, plant and equipment? Yes
 The incidence of valuation impairment being overlooked? Yes
Overall Objectives
Yes/ No/ Comments
N/A
1. Is property, plant and equipment classified correctly, in existence, and Yes
owned by the entity?
2. Have no material items have been charged inappropriately to revenue? Yes
3. Are all disposals identified and recorded correctly? Yes
Control Objectives
Yes/ No/ Comments
N/A
1. Are the rates of depreciation and provisions consistent and have they Yes
been calculated to write down the book value of property, plant and
equipment to their residual value over their anticipated useful lives?
2. Are re-valued property, plant and equipment supported by proper N/A No revaluation
valuations? applied.
3. Have property, plant and equipment subject to impairment been written Yes
down to an appropriate carrying value?
Specific Confirmations
Yes/ No/ Comments
N/A
1. Has independent confirmation of ownership been obtained for property,
plant and equipment by:
 Examination of documents of title? Yes
 Third party certificates? Yes
2. Have all material movements of property, plant and equipment been Yes
subject to audit examination?
3. Have you agreed on a selective basis the existence of property, plant and Yes
equipment by physical inspection?
18
J. PROPERTY, PLANT AND EQUIPMENT

4. Is a register of property, plant and equipment maintained and agreed to Yes
the accounting records? If not, how have the statement of financial
position values been confirmed?
5. Has a review of property, plant and equipment useful lives been carried Yes
out in order to determine the reasonableness of the entity's depreciation
policy?
6. Has adequate provision been made in the financial statements for any Yes
impairment in the value of property, plant and equipment?
Attached
Yes/ No/ Comments
N/A
If not already included in the financial statements please include schedules of the
following:
1. Details of all property, plant and equipment transactions between group N/A No new fixed
entities. asset acquisition
or disposal during
the period.
2. Details of capital grants included in the financial statements and their N/A
accounting treatment.
3. For each class of property, plant and equipment:
 movements on cost/valuation Yes
 movements on depreciation Yes
 rates of depreciation Yes
4. If any property, plant and equipment are included at a valuation state for Yes
each category the cost, the year and basis of valuation and, for valuation
in the current period, the name and qualification of the valuer and whether
or not the valuer is an officer or employee of the entity.
5. If any property, plant and equipment are held under hire purchase or N/A
finance lease agreements state for each category the opening balances,
additions, disposals, closing balances on both cost and depreciation and
opening and closing net book values of assets held subject to finance
agreements.
6. Details of any significant divergence between the value in the financial N/A
statements and the value for insurance purposes of any category of
property, plant and equipment.
7. Details of any significant differences between book and market value of N/A
land and buildings.
19
K. INTANGIBLE ASSETS
Does the entity have any intangible assets (goodwill, brands, No
patents, trademarks etc.?)

Are intangible assets regarded as having high audit risk for any N/A The entity has no intangible asset
audit assertion?
Have all audit assertions applicable to this file section been N/A The entity has no intangible asset
assurance?
Value
Performance materiality for this file section: -
Control Objectives
Yes/ No/ Comments
N/A
1. Does the audit comply with all Objectives and Requirements of the N/A The entity has no
auditing standard(s) relevant to this file section? intangible asset
 Additions to and disposals of intangible assets being made without N/A The entity has no
proper authorisation? intangible asset
 Unrecorded movements of intangible assets? N/A The entity has no
intangible asset
 Errors in accounting for intangible assets? N/A The entity has no
intangible asset
 The incidence of valuation impairment being overlooked? N/A The entity has no
intangible asset
Overall Objectives
Yes/ No/ Comments
N/A
1. Are intangible assets classified correctly, in existence, and owned by the N/A The entity has no
entity? intangible asset
2. Are all disposals of intangible assets identified and recorded correctly? N/A The entity has no
intangible asset
3. Are the rates of amortisation and provisions consistent and have they N/A The entity has no
been calculated to write down the book value of intangible assets to their intangible asset
residual value over their anticipated useful lives?
4. Are valued intangible assets supported by proper valuations on N/A The entity has no
reasonable bases? intangible asset
5. Have intangible assets subject to impairment been written down to an N/A The entity has no
appropriate carrying value? intangible asset
Yes/ No/ Comments
N/A
1. Has independent confirmation of ownership been obtained for intangible N/A The entity has no
assets? intangible asset
2. Have all material movements of intangible assets been subject to audit N/A The entity has no
examination?
20
K. INTANGIBLE ASSETS
intangible asset
3. Is a register of intangible assets maintained and agreed to the accounting N/A The entity has no
records? intangible asset
4. Has a review of intangible assets useful lives been carried out in order to N/A The entity has no
determine the reasonableness of the entity's amortisation policy? intangible asset
5. Has adequate provision been made in the financial statements for any N/A The entity has no
impairment in the value of intangible assets? intangible asset
Attached
Yes/ No/ Comments
N/A
If not already included in the financial statements please include schedules of the following:
1. An analysis of movements on cost and amortisation for each type of N/A The entity has no
intangible asset held in the accounting period. intangible asset
2. Details of all intangible asset transactions between group entities. N/A The entity has no
intangible asset
3. For each class of intangible assets:
 movements on cost/valuation N/A The entity has no
intangible asset
 movements on amortisation N/A The entity has no
intangible asset
 rates of amortisation N/A The entity has no
intangible asset
4. If any intangible assets are included at a valuation state for each category N/A The entity has no
the cost, the year and basis of valuation and, for valuation in the current intangible asset
period, the name and qualification of the valuer and whether or not the
valuer is an officer or employee of the entity.
5. Details of the bases upon which any provisions for impairment have been N/A The entity has no
made. intangible asset
6. Details of any goodwill or any other intangible assets that were previously N/A The entity has no
eliminated directly through reserves and not amortised through profit and intangible asset
loss account.
21
L. REVENUE CYCLE - TRADING ACCOUNT

Are any elements within the revenue cycle - trading account No

assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
1.Does the audit comply with all Objectives and Requirements of the Yes
Income Statement
 Goods being provided or services rendered to bad credit risks or on Yes
unauthorised terms?
 Goods being provided or services rendered but not invoiced? Yes
 Goods being returned or claims made by customers without a credit Yes
note being raised?
 Incorrect invoices or credit notes being processed? Yes
 Incorrect, incomplete or unauthorised updating of the accounts Yes
receivable records (sales ledger)?
 Remittances from customers and cash sales not being accounted Yes
for?
 Overdue accounts escaping attention? Yes
 Inaccurate entries being made in the general ledger? Yes
Statement of financial position
 Debtors being incorrectly stated? Yes
 Prepayments being incorrectly computed? Yes
Overall Objectives
Yes/ No/ Comments
N/A
Income Statement
1. Are all goods provided and services rendered invoiced correctly and Yes
completely?
2. Do all credit notes raised represent allowances authorised as due to Yes
customers?
3. Are sales invoices and credit notes and related sales taxes, completely Yes
and correctly entered in the accounting records?
4. Do all invoices issued for goods or services supplied represent genuine Yes
sales?
5. Are all credits to sales ledger accounts genuine, and are all journal entries Yes
and adjustments valid?
6. Are remittances from customers and cash sales completely and correctly Yes
entered in the accounting records?
22

1. Are all debts due to the entity at the statement of financial position date in Yes
existence and stated correctly?
2. Is all income recognised in the correct period on a consistent basis? Yes
3. Is provision made for bad debts, discounts and other allowances, returns Yes
and other uncollectible items on bases that are adequate but not
excessive?
4. Do prepayments represent future benefits due from past expenditure, Yes
determine on a consistent basis?
Yes/ No/ Comments
N/A
1. Has direct confirmation been obtained from debtors of balances Yes
outstanding?
2. Have satisfactory explanations been given for all material differences Yes
disclosed by the circularisation?
3. Have satisfactory alternative audit procedures been used in the case of Yes
non-replies to circularisation requests and where no direct circularisation
was undertaken?
4. Have bills receivable and equivalent negotiable instruments outstanding at Yes
the statement of financial position date been inspected or confirmed
independently?
5. Have cut-off tests been carried out to ensure that debtors are included in Yes
the correct accounting period?
6. Has adequate allowance been made for bad and doubtful debts? Yes
7. Have adequate enquiries been made of informed personnel to ensure that Yes
none of the debtors relate to sale or return or similar transactions which
can be reversed at the option of the customer at any time in the future?
N/A
Income Statement
1. Analysis of revenue and profit before taxation between different business Yes
classes.
2. Geographical analysis of revenue between significant geographical No
sectors.
3. Combined revenue of the entity and its subsidiary entities excluding any Yes
sales between such entities.
4. Revenue with other group entities included in combined revenue under Yes
(c), detailed by each entity.
5. Details of exceptional elements of revenue. No
6.
Details of any sales transaction in which a director of a group entity or Yes
other related party has a direct or indirect interest.
7. Details of any other matters that should be brought to our attention N/A
regarding the revenue cycle - trading.
8. Details of the principal activities of the entity throughout the period and a N/A
review of the trading for the period.
1. A list of all balances with group entities and associated/related entities. Yes
2. A list of all debts not receivable within twelve months of the statement of Yes
financial position date.
3. Details of any significant credit balances on the debtors’ ledger not Yes
included as creditors.
4. A list of all debtor balances with directors of the holding company, giving a Yes
summary of the principal terms of the transactions, the rate of interest
23

charged, the balance at the beginning and end of the period and the
highest intervening balance. Include amounts due to third parties to be
paid by the entity on behalf of the director and any guarantees provided to
third parties on behalf of such a director.
24
M. REVENUE CYCLE - OTHER

Are any elements within the revenue cycle - other regarded as No
having high audit risk for any audit assertion?

assurance?
Are any other revenue cycle items material for the purposes of No
the financial statements?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
Income Statement
 Incorrect remittance notifications, invoices or credit notes being Yes
processed?
 Inaccurate entries being made in the general ledger? Yes
 Entitlements to income being overlooked? Yes
 Other income being misallocated or misappropriated? Yes
 Debtors being incorrectly stated? Yes
 Prepayments being incorrectly computed? Yes
Overall Objectives
Yes/ No/ Comments
N/A
1. Is other income correct and complete? Yes
2. Is all other income and related sales taxes completely and correctly Yes
included in the accounting records?
3. Is all other income recognised in the correct accounting period on a Yes
consistent basis?
4. Do prepayments represent future benefits due from past expenditure, Yes
determined on a consistent basis?
Attached
Yes/ No/ Comments
N/A
1. Details of the principal items recorded as other income. Yes
2. The following figures, if significant, with comparatives:
 Income from listed investments. N/A
 Income from unlisted investments. N/A
25
M. REVENUE CYCLE - OTHER

 Income from other financial assets. N/A
3. Amount of significant profits on disposal of property, plant and equipment No No disposal of
and investments. fixed assets
during the period.
26
N. EXPENDITURE CYCLE - PURCHASES - TRADING ACCOUNT

Are any elements in the expenditure cycle - purchases - trading No
account regarded as having high audit risk for any audit
assertion?
assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
Income Statement
 Goods or services being purchased without proper authorisation? Yes
 Liabilities being incurred and not recorded? Yes
 Goods being returned or claims made on suppliers without a debit Yes
note being raised?
 Incorrect, incomplete or unauthorised updating of the accounts Yes
payable records (purchase ledger)?
 Payment being made for goods or services not received? Yes
 Inaccurate entries being made in the nominal ledger? Yes
 Amounts due by the entity being omitted or incorrectly stated? Yes
 Accruals being incorrectly computed? Yes
Overall Objectives
Yes/ No/ Comments
N/A
Income Statement
1. Are all invoices and credit notes and related sales taxes completely and Yes
correctly entered in the accounting records?
2. Are invoices received for all goods and services received? Yes
3. Are debit notes raised, or credit notes received, for all goods returned or Yes
claims made on suppliers?
4. Are purchase invoices, and credit notes, correct? Yes
5.Are debts to supplier accounts genuine and journal entries and Yes
adjustments valid?
6. Are purchases recorded in purchase ledger accounts genuine, and are all Yes
journal entries and adjustments valid?
7. Are payments in connection with the expenditure cycle - purchases - Yes
trading account correctly entered in the accounting records?
1. Are all amounts due by the entity at the statement of financial position Yes
date correctly included and classified?
27

2. Do accruals represent the best estimate of expenses accruing up to but Yes
not payable until after the statement of financial position date?
3. Are other allowances adequate but not excessive? Yes
4. Are pension and other post-employment benefit commitments properly N/A No pension or
computed, provided for, allocated and adequately disclosed? employee benefit
calculated since
all workers are
not permanent
and work under
contract
agreement for
certain period
only
Yes/ No/ Comments
N/A
1. Has direct confirmation been obtained from creditors of balances Yes
outstanding?
2. Have satisfactory explanations been given for all material differences Yes
disclosed by the circularisation?
3. Have satisfactory alternative audit procedures been used in the case of Yes
non-replies to circularisation requests and where no direct circularisation
has been carried out?
4. Where not covered by direct confirmation procedures were tests made to Yes
verify creditors with suppliers’ statements?
5. Have cut-off tests been carried out to ensure that creditors are included in Yes
6. Has adequate allowance been made for all liabilities and claims, including Yes
liabilities in respect of discounted or negotiated bills or similar?
7. Have adequate enquiries been made of informed personnel to ensure that Yes
none of the debtors relate to sale or return or similar transactions which
can be reversed at the option of the customer at any time in the future?
N/A
Income Statement
1. Details of any exceptional element of purchases. N/A
2.
Details of any purchase or expense transaction in which a director of a N/A
group entity or other related party has a direct or indirect interest.
3. Details of any other matters that should be brought to our attention N/A
regarding purchases.
4. Details of any significant debit balances on the creditors' ledger not N/A
included in debtors, together with explanations.
1. The amount of secured liabilities. N/A There are no
secured liabilities
2. Analysis of amounts due:
 Within twelve months of the statement of financial position date N/A
 Between one year and two years of the statement of financial position N/A
date
 Between two and five years from the statement of financial position N/A
date
 In more than five years from the statement of financial position date N/A
28

4. A list of all creditors not payable within twelve months. Yes
5. Details of any significant debit balances on the creditors’ ledger not N/A
included in debtors.
29
O. EXPENDITURE CYCLE - PURCHASES - OTHER

Are any elements in the expenditure cycle - purchases - other No

assurance?
Are any other expenditure cycle items material for the purposes Yes
of the financial statements?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
Income statement
 Liabilities being incurred and not recorded? Yes
 Payment being made for goods or services not received? Yes
 Inaccurate entries being made in the nominal ledger? Yes
 Amounts due by the entity being omitted or incorrectly stated? Yes
 Accruals being incorrectly computed? Yes
Overall Objectives
Income statement
1. Are all expenses and related sales taxes completely and correctly Yes
included in the accounting records?
2. Are all other expenses recorded in the general ledger accounts genuine Yes
and are all journal entries and adjustments valid?
1. Are all amounts due by the entity at the statement of financial position Yes
date correctly included and classified?
2. Do accruals represent the best estimate of expenses accruing up to but Yes
not payable until after the statement of financial position date?
3. Are pension and other post-employment benefit commitments properly Yes
computed, provided for, allocated and adequately disclosed?
Yes/ No/ Comments
N/A
1. Were tests made to verify creditors with:
 Suppliers’ statements? Yes
 Direct confirmations? Yes
30
O. EXPENDITURE CYCLE - PURCHASES - OTHER

2. Have all resultant significant differences with the entity’s records been Yes
satisfactorily explained?
3. Have satisfactory alternative audit procedures been carried out where Yes
suppliers’ statements are not available and no direct confirmation has
been obtained?
4. Have cut-off tests been carried out to ensure that creditors are included in Yes
5. Have you confirmed that adequate allowance has been made for all Yes
liabilities and claims, as appropriate, including liabilities in respect of
discounted or negotiated bills, or similar?
N/A
Income Statement
1. Details of the principal items recorded as other expenses. Yes
2. Details of any exceptional expenditure not included within purchases. N/A
3. Auditors’ remuneration, including expenses. Yes
4. Other fees paid to auditors for non-audit services, indicating nature of No
such services.
5. Interest on:
 Bank loans or overdrafts. Yes
 Other loans. Yes
 Lease arrangements. N/A
6. Hire of equipment and vehicles. N/A
7. A schedule of all contributions for political or charitable purposes made by N/A
the entity.
8. Amount of significant losses on disposal of property, plant and equipment N/A
and investments.
9. Details of any significant debit balances on the creditors' ledger not N/A
included in debtors, together with explanations.
1. The amount of secured liabilities. N/A There are no
secured liabilities
2. Analysis of amounts due:
 Within twelve months of the statement of financial position date Yes
 Between one year and two years of the statement of financial position Yes
date
 Between two and five years from the statement of financial position Yes
date
 In more than five years from the statement of financial position date Yes
4. A list of all creditors not payable within twelve months. Yes
5. Details of any significant debit balances on the creditors’ ledger not N/A
included in debtors.
31
P. EXPENDITURE CYCLE - PAYROLL AND POST EMPLOYMENT BENEFITS

Are any elements in the expenditure cycle - payroll and No
pensions regarded as having high audit risk for any audit
assertion?
assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
 Unauthorised data being used in the preparation of the payroll? Yes
 Payroll being incorrectly calculated? Yes
 Inaccurate payroll entries being made in the accounting records? Yes
 Payroll monies being misappropriated? Yes
Overall Objectives
Yes/ No/ Comments
N/A
1. Is the charge for payroll costs computed correctly and properly disclosed? Yes
2. Is the charge for pension and other post-employment benefit costs Yes
computed correctly on a basis appropriate to the arrangements and
properly disclosed?
3. Is the data used in the preparation of the payroll current and authorised? Yes
4. Is the payroll correctly calculated and accounted for, including related Yes
employment taxes?
5. Is the payment of wages, salaries and pensions restricted to individuals Yes
entitled to receive these benefits?
N/A
1. An analysis of the total charge for employment costs, distinguishing Yes
wages and salaries, social security costs, other pension costs,
compensation for loss of office, etc.
2. In respect of each director or former director of the holding entity:
 Remuneration including benefits. Yes

 Pension contributions. Yes
 Compensation for loss of office. Yes
 Pensions to former directors. Yes
3. An analysis of monthly average employee numbers between the main N/A
areas of activity such as production, sales and administration,
32

distinguishing those employed in the local jurisdiction and those in other
jurisdictions.
4. Details of the pension arrangements, including the following:

 The nature of the scheme; N/A No pension or
employee benefit
calculated since
all workers are
not permanent
and work under
contract
agreement for
certain period
only
 Date of last actuarial valuation and details of the outcome and N/A No pension or
principal assumptions (or attach copy of most recent actuarial report). employee benefit
calculated since
all workers are
not permanent
and work under
contract
agreement for
certain period
only
 Categories of employees entitled to membership and current N/A No pension or
contribution rates. employee benefit
calculated since
all workers are
not permanent
and work under
contract
agreement for
certain period
only
 Details of trustees and other controllers of pension schemes. N/A No pension or
employee benefit
calculated since
all workers are
not permanent
and work under
contract
agreement for
certain period
only
 Details of any pension scheme investment in group entities. N/A No pension or
employee benefit
calculated since
all workers are
not permanent
and work under
contract
agreement for
certain period
only
5. Have you verified by physical inspection all material assets of the fund? If N/A No pension or
not, explain how you are satisfied that the fund retains title to these employee benefit
33

assets? calculated since
all workers are
not permanent
and work under
contract
agreement for
certain period
only
6. Details of any post-employment benefits other than pensions, together N/A No pension or
with details of how they are funded. employee benefit
calculated since
all workers are
not permanent
and work under
contract
agreement for
certain period
only
34
Q. INVENTORY
Is inventory regarded as having high audit risk for any audit No
assertion?

assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
 Inventory and work in progress being incorrectly quantified? Yes
 Inventory being incorrectly valued? Yes
 Inventory being inappropriately recognised as regards ownership or Yes
time period?
Overall Objectives
Yes/ No/ Comments
N/A
1. Are inventory quantities complete, accurate, and beneficially owned by the Yes
entity?
2. Have purchase and sales cut-off been correctly applied? Yes
3. Has inventory been valued at the lower of cost and net realisable value on Yes
a basis consistent with the previous period?
4. Has the carrying value of excess, slow-moving, obsolete and defective Yes
items been reduced to net realisable value?
5. Are long-term contract balances valued at net cost less foreseeable Yes
losses and payments on account?
Yes/ No/ Comments
N/A
1. Did you attend the physical inventory count of the entity:
 At the statement of financial position dates? No
 At another date? Yes 17 April 2023
 On a perpetual inventory basis? No
2. Were the inventory count procedures adequate and operating Yes
satisfactorily?
3. Where no physical inventory count is carried out what alternative
procedures were adopted to verify:
 Raw materials and finished goods? N/A We did stock
opname
 Work in progress? N/A We did stock
opname
4. Were adequate tests carried out to ensure the material completeness and Yes
accuracy of inventory?
35
Q. INVENTORY
5. Have you carried out tests on cut-off procedures for goods inwards and Yes
outwards to ensure that the movements of inventory are recorded in the
correct accounting period?
6. Have adequate tests been carried out to confirm that inventory items are Yes
stated at the lower of cost and net realisable value?
7. Have these tests covered the accuracy of the costing system and the Yes
basis on which overheads are included?
8. Has adequate provision been made for obsolete, damaged, or slow Yes
moving inventory?
9. Have adequate steps been taken to ensure that all irrecoverable Yes
expenditure is excluded from the valuation of inventory?
10. Have you obtained direct confirmation of inventory held at third party N/A Not held by third
locations? party
11. Has provision been made for confirmed or anticipated losses on contracts N/A No provision
in progress at the statement of financial position date? made
12. Has an inventory confirmation certificate been obtained from the officers N/A
of the entity? (please attach copy)
Attached
Yes/ No/ Comments
N/A
1. Break-down of main categories of inventory, giving comparative figures for Yes
previous period.
2. Basis of valuation for each category of inventory. Yes
3. Cost of goods purchased from group components and associated/related Yes
components included in inventory at the period end stating the entity from
which they were purchased.
Long term contracts:
4. On what basis are profits taken into account over the period of each N/A
contract?
5. Is provision made for anticipated losses on contracts not yet commenced? N/A
6. Details of stage payments against long term contracts where the value of N/A
receipts exceed the carrying value of the related contract.
36
R. TREASURY CYCLE
Are any elements within the treasury cycle regarded as having No

assurance?
Does the entity have any arrangements requiring treatment as No
a financial instrument?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
Income Statement - investments and balances with financial institutions
 Income entitlements being overlooked or misstated? Yes
Income Statement - borrowings, including lease and hire purchase obligations
 Interest and other costs related to borrowings not being recognised? Yes
Statement of financial position - investments
 Investment transactions being accounted for incorrectly? Yes
 Investment values being recorded improperly? Yes
Statement of financial position - balances with financial institutions
 Cash at financial institutions and in hand being incorrectly stated? Yes
 Restrictions on the remissibility of cash at financial institutions and in Yes
hand not being recognised?
Borrowings, including lease and hire purchase obligations
Debentures and other borrowings being entered into other than in accordance with Yes
the borrowing powers within the constitutional documents of the entity with
applicable agreements properly drawn up?
Overall Objectives
Yes/ No/ Comments
N/A
Investments
1. Have all investment transactions been authorised and accounted for N/A No investment
properly? transaction
occurred in this
period
2. Is the book value of investments described and stated correctly in the N/A No investment
financial statements? transaction
occurred in this
period
3. Are all relevant investment certificates held in safe custody for the account N/A No investment
of the entity or its subsidiaries? transaction
occurred in this
37
R. TREASURY CYCLE
period
4. Is the market value of investments stated correctly? N/A No investment
transaction
occurred in this
period
5. Has adequate provision been made in the financial statements for N/A No investment
diminution in value or impairment? transaction
occurred in this
period
6. Has any contingent liability to tax on investments been noted? N/A No investment
transaction
occurred in this
period
7. In the case of loans classified as investments:
 Is the entity entitled to recover the loan? N/A No investment
transaction
occurred in this
period
 Are the borrowers able to repay the loan? N/A No investment
transaction
occurred in this
period
 Are the loans correctly classified as investments? N/A No investment
transaction
occurred in this
period
8. Has the entity received all the investment income to which it is entitled? N/A No investment
transaction
occurred in this
period
Balances with financial institutions
9. Are all cash and financial institution balances at the statement of financial Yes
position date in existence, stated correctly and beneficially owned by the
entity?
10. Is adequate disclosure made of security given as collateral? N/A No collateral
Borrowings, including lease and hire purchase commitments
11. Do the amounts at which long term borrowings are stated make N/A
appropriate recognition of any premium or discount on issue or
redemption?
12. Has adequate disclosure been made of security given as collateral? N/A
Yes/ No/ Comments
N/A
Investments
1. Have you confirmed title to all investments by:
 Physical verification? N/A No investment
transaction
occurred in this
period
 Confirmation from independent third party? N/A No investment
38
R. TREASURY CYCLE
transaction
occurred in this
period
 Confirmation from the entity in which the investment is held? N/A No investment
transaction
occurred in this
period
2. Has direct confirmation been obtained from the entity’s bankers and other Yes
relevant financial institutions with which the entity has had a relationship
during the period of all balances and terms?
3. Were all significant items outstanding on reconciliations of account Yes
balances subsequent cleared through the relevant financial institution
within a reasonable time period and in a routine manner?
4. Were all significant cash balances verified? Yes
5. Were all rights of set-off verified and correctly applied? Yes
6. Have any applicable exchange control regulations been properly applied? Yes
Borrowings, including lease and hire purchase obligations - for loan and other long term creditors
7. Have the amounts outstanding at the statement of financial position date Yes
been confirmed independently with the lender?
8. Have the terms of all loan agreements been complied with by the entity Yes
throughout the period under review and subsequently?
N/A
Investments
1. Particulars of shareholdings in subsidiary and other group entities, N/A No investment
showing the date of acquisition and details of vendor, together with the transaction
amount of any purchased goodwill accounted for at the date of acquisition occurred in this
and details of the accounting treatment adopted for such goodwill. period
2. Particulars of any disposals in the period of shareholdings, showing date N/A No investment
of disposals and details of purchaser, together with the amount of any transaction
purchased goodwill accounted for at the date of acquisition and details of occurred in this
the accounting treatment adopted for such goodwill on the disposal. period
3. A schedule of the book and market value of listed investments, quoted:
 On a recognised stock exchange in the jurisdiction of incorporation of N/A No investment
the ultimate holding entity transaction
occurred in this
period
 On a recognised stock exchange in the jurisdiction of incorporation of N/A No investment
the entity. transaction
occurred in this
period
 On other recognised stock exchanges, analysed between N/A No investment
jurisdictions. transaction
occurred in this
period
4. The Directors' valuation for unlisted investments and details of:
 Aggregate cost or valuation. N/A No investment
transaction
39
R. TREASURY CYCLE
occurred in this
period
 Aggregate amount of provision since acquisition. N/A No investment
transaction
occurred in this
period
 Income for the year. N/A No investment
transaction
occurred in this
period
 Share of profits less losses before and after taxation. N/A No investment
transaction
occurred in this
period
 Share of undistributed profits less losses since acquisition. N/A No investment
transaction
occurred in this
period
5. Names, country of incorporation, percentage holding and nature of N/A No investment
activities in respect of all group components included in investments. transaction
occurred in this
period
6. A list of cash and bank balances denominated in:
 The reporting currency of the ultimate holding company Yes Ringgit
 Each currency other than the reporting currency of the entity -
 In each case showing the value in relevant currency and equivalent in Yes Rupiah
the entity’s reporting currency.
7. A list of cash and balances with financial institutions held in jurisdictions N/A
which may restrict the remittability of the funds.
Borrowings, including lease and hire purchase obligations
8. A schedule of borrowings of the entity, and in respect of each specify:
 The amount outstanding. Yes
 Terms and dates of repayment. Yes
 Premiums on repayment. N/A
 Rate of interest. N/A
 Details of security or guarantees given, distinguishing those given by N/A
group entities from those given by third parties.
9. The amount of secured liabilities. N/A No secured
liabilities
10. In respect of all liabilities, including hire purchase and finance lease
obligations, amounts due:
 in up to one year from the statement of financial position date; N/A No lease or hire
purchase
 between one and five years N/A No lease or hire
purchase
40
R. TREASURY CYCLE
 in more than five years N/A No lease or hire
purchase
12. A list of all creditors not repayable within twelve months. Yes
13. The amount of interest capitalised during the period together with the No No interest
amount and treatment of any related tax relief. expense
41
S. TAXATION
Is taxation regarded as having high audit risk for any audit No
assertion?

assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
2. Can entity controls be relied upon to prevent to taxation authorities being Yes
unrecognised, incorrectly computed or remaining un-notified?
Overall Objectives
Yes/ No/ Comments
N/A
1. Has full provision been made for all taxation liabilities (repayments) arising N/A No provision
on transactions, profits, losses and gains in the accounting period?
2. Do the financial statements show, by way of provision or note, the N/A No provision
deferred taxation on all timing differences and revaluations?
3. Have all taxes on dividends and distributions been accounted for Yes
correctly?
4. Have all sales taxes been accounted for correctly? Yes
5. Have all payroll taxes been accounted for correctly? Yes
6. Have all other taxes, levies and duties for which the entity is liable been Yes
accounted for correctly?
Yes/ No/ Comments
N/A
1. Have all necessary fiscal returns been made by the entity on or before the Yes
due date?
2. Have there been any indications from any fiscal authority that any filings No
have not been accepted as accurate?
3. Is the entity under investigation or enquiry in connection any fiscal matter? No
4. Is the applicability and methods of computation, of all fiscal obligations Yes
applying to the entity clear in law?
N/A
1. The latest date to which the entity's taxation liabilities have been agreed N/A The company is
with the fiscal authorities. in loss. No Tax
2. Details of any material items not agreed with the fiscal authorities. N/A No dispute
3. Details of any necessary adjustments which have been made to previous N/A No dispute
period's tax provisions.
4. Reconciliation between taxable profits and profits per the financial N/A No difference
statements.
5. Details of the method used in computing deferred taxation. N/A No deferred tax
42
S. TAXATION
6. The amount of any deferred taxation not provided in the financial N/A No deferred tax
statements.
7. Details of the estimated liability to taxation (where not provided in financial
statements):
 If profits retained were distributed N/A The company is
in loss. No Tax
 If assets were sold at their revalued amounts. N/A The company is
in loss. No Tax
43
T. PROVISIONS
Are provisions regarded as having high audit risk for any audit No
assertion?

assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
1. Does the audit comply with all Objectives and Requirements of the N/A No provision
auditing standard(s) relevant to this file section? made during this
period
 Provisions of an inappropriate nature being established? N/A No provision
made during this
period
 Appropriate provisions being wrongly quantified? N/A No provision
made during this
period
Overall Objectives
Yes/ No/ Comments
N/A
1. Are provisions classified correctly? N/A No provision
made during this
period
2. Are all provisions necessary, appropriate and adequate? N/A No provision
made during this
period
3. Are all provisions permitted under the financial reporting standards N/A No provision
relevant to the appropriate financial reporting framework? made during this
period
Yes/ No/ Comments
N/A
1. Have the need for or quantum of any provisions been resolved using the N/A No provision
expertise of individuals from outside the entity? made during this
period
2. If outside individuals are used have appropriate measures been taken to N/A No provision
establish their independence, qualifications and experience? made during this
period
Attached
Yes/ No/ Comments
N/A
1. If not already included in the financial statements please include details of N/A No provision
the accounting policies and procedures applying to the establishment of
44
T. PROVISIONS
provisions. made during this
period
45
U. CAPITAL, RESERVES AND DIVIDENDS

Are capital, reserves or dividends regarded as having high No

assurance?
Does the entity have a capital structure comprising other than Yes
share capital?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
Capital and Reserves
 Authorised or issued share capital being incorrectly reflected in the Yes
financial statements?
 Movements on reserves being reflected inappropriately? Yes
Dividends
3. Can entity controls be relied upon to prevent dividend payments being Yes
made inappropriately?
Overall Objectives
Yes/ No/ Comments
N/A
1. Are the authorised and issued share capital in agreement with the Yes
constitution of the entity (or equivalent) and the statutory books (or
equivalent)?
2. Are all movements on reserves authorised and disclosed in the financial Yes
statements to the extent required by law, the entity's constitution (or
equivalent) and generally accepted accounting practice within the
appropriate financial reporting framework?
Dividends
3. Are all dividends authorised, and fully provided for out of distributable N/A No dividend
reserves? distributed
4. Has appropriate recognition been given to undischarged obligations to N/A No dividend
pay dividends on non-equity shares? distributed
Yes/ No/ Comments
N/A
1. Have the statutory records of the entity been inspected and do your files Yes
contain all relevant extracts?
2. Have you confirmed that all changes in the share structure of the entity
during the period are:
 Genuine and properly authorised? Yes
46
U. CAPITAL, RESERVES AND DIVIDENDS

 Correctly treated in the financial statements? Yes
 In accordance with the entity's documents of incorporation and Yes

relevant legislation?
3. Is the treatment of foreign currency exchange differences in accordance Yes PSAK 10: Forex
with generally accepted accounting practice? Please give details of
practical effect of policies applied.
Dividends
4. Are all distributions made in accordance with the constitution (or N/A No dividend
equivalent) of the entity and applicable legislation? distributed
Attached
Yes/ No/ Comments
N/A
1. Full details of rights attaching to each class of share in issue. Yes
2. For each class of share, the number of shares, if any, not registered in the Yes
names of group entities.
3. Details of all movements in reserves and provisions during the period. No No movement
4. Details of any restrictions on the distribution by way of dividend of the No No restriction
reserves of the entity.
5. Details of any unrealised profits or losses included in any reserves other No
than revaluation.
6. Details of the nature, purpose and bases of all reserves other than No
retained profits, including details of movements in the period. Distinguish
distributable from any non-distributable reserves.
Dividends
7. Details of any dividend (or similar rights to participate in profits) that are N/A No dividend
accruing but have not been provided, giving reasons for non-provision. distributed
8. Details of any dividend entitlement that has been waived during or in N/A No dividend
respect of the financial period. distributed
9. Details of any dividend recommended to be paid in respect of the period N/A No dividend
under review. distributed
47
V. CONTINGENCIES AND COMMITMENTS

Are contingent liabilities or financial commitments regarded as No
having high audit risk for any audit assertion?

assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
 Contingent but unprovided liabilities not being recognised? N/A No contingent
liability identified
 Commitments for capital or other expenditure being incurred without N/A No contingent
proper authority? liability identified
Overall Objectives
Yes/ No/ Comments
N/A
1. Are all material liabilities that may at some future date arise from N/A No contingent
circumstances existing at the statement of financial position date, and for liability identified
which full provision has not been made, noted in the financial statements?
2. Is all capital expenditure contracted for and not included in the statement N/A No contingent
of financial position noted in the financial statements? liability identified
3. Is all revenue expenditure contracted to be made in future accounting N/A No contingent
periods noted in the financial statements? liability identified
Yes/ No/ Comments
N/A
1. Does the entity incur potential liabilities for any of the following:
 Guarantees or warranties? N/A No contingent
 Restoration or dilapidations? N/A No contingent
 Rebates or discounts in arrears? N/A No contingent
 Transactions containing elements quantified by reference to other N/A No contingent
future events? liability identified
N/A
1. Details of operating lease commitments (and finance lease commitments
if not capitalised with obligations included in creditors), distinguishing
property from other assets. The details should include the aggregate
annual rental payable for agreements terminating:
48
V. CONTINGENCIES AND COMMITMENTS

 within one year of the statement of financial position date N/A No contingent
 between two and five years N/A No contingent
 in more than five years N/A No contingent
2. Details of any dealings in futures, options and forward foreign currency N/A No hedging
dealing indicating whether they are a part of routine trading activities, instruments
hedging of specific assets or liabilities or speculative investments.
3. Details of any investments comprising partly paid shares or arising from N/A No underwriting
underwriting commitments. commitments
4. Details of any outstanding litigation brought by or against the entity. No
49
W. CASH FLOW STATEMENT

Is the cash flow statement regarded as having high audit risk No
for any audit assertion?

assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
 Items being omitted from presentation in the cash flow statement? Yes
 Items being set off inappropriately in the cash flow statement? Yes
 Items being wrongly characterised in the cash flow statement? Yes
Overall Objectives
Yes/ No/ Comments
N/A
1. Has the cash flow statement been prepared using the formats and Yes
categorisations specified by group procedures?
2. Have all elements contained in the cash flow statement been reconciled Yes
properly to other information disclosed in the remainder of the financial
statements?
Yes/ No/ Comments
N/A
1. Confirm that the following have been computed correctly:
 Returns on investments and servicing of finance? Yes
 Taxation? Yes
 Capital expenditure and financial investment? Yes
 Equity dividends paid? Yes
 Financing? Yes
 Reconciliation of operating profit to net cash flows from operating Yes
activities?
 Reconciliation of net cash flow to movement in net debt? Yes
 Reconciliation of changes in net debt? Yes
N/A
1. Differences resulting from changes in rates of exchange applying to Yes
balances and transactions denominated in currencies other than the
entity’s reporting currency.
50
X. OTHER ASSOCIATED INFORMATION

Is any information associated with the financial statements No
indicative of high audit risk for any audit assertion within any
file section?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
 Information presented in association with the financial statements Yes
being inconsistent with those financial statements?
 Information presented in association with the financial statements Yes
being presented inappropriately?
Overall Objectives
Yes/ No/ Comments
N/A
1. Is all information presented in association with the financial statements Yes
appropriate to its context?
51
Y. CONSOLIDATION
Do the financial statements of the entity include the results, No
assets and liabilities of any other entities?
If the financial statements covered by this return are
consolidated please complete the remainder of this
section.
assurance?
Value
3
Control Objectives
Yes/ No/ Comments
N/A
 Financial statements prepared for group reporting purposes being N/A
prepared using an inconsistent financial reporting framework?
 Financial statements prepared for group reporting purposes being N/A
prepared using accounting policies inconsistent with those specified
for use by the group?
 Financial statements prepared for group reporting purposes omitting N/A
the assets, liabilities and results of any components that are required
for the financial statements to give a true and fair view?
 Financial statements prepared for group reporting purposes omitting N/A
the relevant shares of net assets and results of any associated
entities of joint ventures?
Overall Objectives
Yes/ No/ Comments
N/A
1. Have all sub-group components been identified for inclusion in the sub- N/A
consolidation with the extent and form of the entity’s interest in each
component noted?
Yes/ No/ Comments
N/A
1. Have the financial statements of all component entities been approved by N/A
appropriate members of group management?
2. Have the independence, experience and qualifications of any other N/A
auditors or experts involved in the conduct of the audit been evaluated as
adequate?
3. Have the fair values of goodwill and other intangible assets been N/A
evaluated for any impairment of value?
N/A
1. Differences resulting from changes in rates of exchange applying to N/A
balances and transactions denominated in currencies other than the
entity’s reporting currency.
2. Differences arising on movements on reserves. N/A
3. Differences arising on movements on minority interests. N/A
52

Internal Control Questionaire

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Internal Control Questionaire

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Reporting entity: PT Resintech Indomas

Reporting period: 1 April 2022 to 31 March 2023

Insert responses in the shaded boxes

Parent entity Resintech Berhad

Name and address of auditors of subsidiary entity

Audited financial statements required by (date) 12 July 2023

A. INDEPENDENCE AND APPLICABLE AUDIT AND ACCOUNTING STANDARDS

Yes/No/ (If Yes, please provide details)

Yes/No/ (If Yes, please provide details)

Yes/No/ (If Yes, please provide details)

6. Competency and Character

7. Accounting and Auditing Standards

United States of America

Country of domicile of entity - Indonesia Pernyataan Standar

7. Accounting and Auditing Standards

Financial Assets PSAK 71

Revenue and Expense Recognition PSAK 72

Transaction of Foreign Currencies Monetary accounts are

Finance Income and Costs Presented as Net

B. AUDIT CONTROL, COMPLETION AND COMMUNICATIONS

Yes/No/NA (If No, describe the compensating

Yes/No/NA (If Yes, describe the limitations and

Yes/No/NA (If No, describe the instances of

2. Group Entity Balances

3. Associated Entities Balances

If not, provide details.

Yes/No (If Yes, then please provide details

E. SUBSEQUENT EVENTS (FOR PERIOD THROUGH COMPLETION OF FIELDWORK AND SUBMISSION OF

Yes/No/NA (If No, please provide details)

F. LAWS AND REGULATIONS

Yes/No/NA (If Yes, please provide details)

Yes/No/NA (If No, please provide details)

J. PROPERTY, PLANT AND EQUIPMENT

Yes/No/NA (If No, please provide details)

J. PROPERTY, PLANT AND EQUIPMENT

Yes/No/NA (If Yes, please provide details)

L. REVENUE CYCLE - TRADING ACCOUNT

Yes/No/NA (If No, please provide details)

L. REVENUE CYCLE - TRADING ACCOUNT

L. REVENUE CYCLE - TRADING ACCOUNT

M. REVENUE CYCLE - OTHER

Yes/No/NA (If No, please provide details)

M. REVENUE CYCLE - OTHER

N. EXPENDITURE CYCLE - PURCHASES - TRADING ACCOUNT

N. EXPENDITURE CYCLE - PURCHASES - TRADING ACCOUNT

N. EXPENDITURE CYCLE - PURCHASES - TRADING ACCOUNT

O. EXPENDITURE CYCLE - PURCHASES - OTHER

Yes/No/NA (If No, please provide details)

O. EXPENDITURE CYCLE - PURCHASES - OTHER

P. EXPENDITURE CYCLE - PAYROLL AND POST EMPLOYMENT BENEFITS

 Remuneration including benefits. Yes

P. EXPENDITURE CYCLE - PAYROLL AND POST EMPLOYMENT BENEFITS

4. Details of the pension arrangements, including the following:

P. EXPENDITURE CYCLE - PAYROLL AND POST EMPLOYMENT BENEFITS

Yes/No/NA (If No, please provide details)

Yes/No/NA (If No, please provide details)

Yes/No/NA (If No, please provide details)

Yes/No/NA (If No, please provide details)

U. CAPITAL, RESERVES AND DIVIDENDS

Yes/No/NA (If No, please provide details)

U. CAPITAL, RESERVES AND DIVIDENDS

 In accordance with the entity's documents of incorporation and Yes

V. CONTINGENCIES AND COMMITMENTS

Yes/No/NA (If No, please provide details)