Professional Documents
Culture Documents
TEAM MEMBERS: NOR AZINDA HARUN NORLAILA MOHD HANAPI FARHAINI ISMAIL DALILA KAMARUDDIN HASLINA ABDUL KARIM NURUL AIN ZULKIFLI
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Part 1
PROBLEM SOLUTION
Example
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Part 2
PROBLEM SOLUTION
Document (invoice, PO,DO or etc) should be properly pre Sales invoice are manually produces numbered. & not pre-numbered. Use latest edition of standard Monthly statement of account not financial software periodically prepare only prepare (MYOB,USB,SAP or etc) & sent to customer when payment Periodically prepare & update had been long outstanding. control accounts.
PROBLEM SOLUTION
Lack of control
Documents not pre-number & missing. Assets not recorded No Supervision Documents serially numbered & kept properly & allow 5S system Assets properly recorded & kept in a locked room. Supervision done in regular and continuing basis Management should review the adequacy of internal control on regular basis.
EXAMPLE
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Part 3
PROBLEM SOLUTION
PROBLEM SOLUTION
Segregation Of duties
En Zayed does not exercise his duties properly as to segregate management duties equally among the employees of the company that he may thinks fits to perform such duties. En Zayed should segregate Cik Amys workloads to other personnel according to the relevant job description. Example: Account Payable and Receivables should be assigned to different personnel.
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Part 4
PROBLEM SOLUTION
Appointment of auditor
Directors not practice proper procedure to appoint auditor. Sec. 172(1)-appoint the auditor at Annual General Meeting
Removal of auditor
Removal of auditor before the expiration of his term of office. Under Section 172(4),(5),(6) CA 1965, Only the s/holder can remove the auditor before the expiration of his terms Must have ordinary resolution at general meeting with special notice of 28 days given to auditor
PROBLEM SOLUTION
Sec 174(2) express opinion in report Sec 174(3)- report particulars of deficiency, failure and shortcoming
CONCLUSIONS
The Mission, Vision and Objective of the Company must be clearly stated.
Informed to employees so that they know the Companys goal. Delima should implement standard operating procedure (SOP). Delima should improve their internal control by provide the segregations of duties to ensure the management works efficiently and effectively. It also may avoid mishandling and reduce the mistake as well. As a Director, three (3) elements of Fiduciary duties to be comply :i) Duty of loyalty ii) Duty of Care iii) Duty of Disclosure