Report of Fcb Case
ACC 4291 – Integrated Case Study
Case Analysis Report on Flat Cargo Berhad: An Auditor’s Conundrum
Group : KHADIJAH
Masita bt Abu Bakar
0921714
Arnianty bt Amirbak
0810192
Nik Nur Wahidah bt Nik Zainal Abidin
0928160
ACC 4291 – Integrated Case Study
Case Analysis Report on Flat Cargo Berhad: An Auditor’s Conundrum
Group : KHADIJAH
Masita bt Abu Bakar 0921714
Arnianty bt Amirbak 0810192
Nik Nur Wahidah bt Nik Zainal Abidin 0928160
Synopsis
Flat Cargo Berhad (FCB) was a listed air cargo carrier service company which also registered as an investment holding company with several subsidiaries. They are FC Spare Sdn. Bhd, Cargo Management Sdn. Bhd, FCB (SPV), Cargo Air Services Sdn. Bhd and FC Air Ltd. Its primary operation was to provide air freight transportation which including air freight services, air freight handling services and leasing.
FCB was aimed to maintain their niche position not only in the Asia Pacific region but also in China, Thailand and India by delivering best quality customer service and satisfying customer demands. Among of its customers are Worldwide Express, United Parcel Services (UPS), Nationwide Express, Citylink, Bax Global, Nippon Express, Cargo Malaysia Services and Bangor Berhad. FCB had appointed Kenchana& Associates as its external auditor.
The Protagonist
Mr Chuah Mun Soong is the main character in this case. He is an auditor for FCB. He needs to present the financial report of Flat Cargo Berhad to the audit committee of FCB in two weeks. However, there are several inconsistencies reported by his subordinates in the accounts of FCB.
The main problem faced by Mr Chuah is there might be high possibility that his client company (FCB) involved in fraud. Mr Chuah had dilemma either to continue servicing this client company or not. Kenchana & Associates reputation might be affected if FCS is really proven to be involved in fraud.
The major issue in the case is the inconsistencies in the accounts of FCB. FCB had
Case Analysis Report on Flat Cargo Berhad: An Auditor’s Conundrum
Group : KHADIJAH
Masita bt Abu Bakar
0921714
Arnianty bt Amirbak
0810192
Nik Nur Wahidah bt Nik Zainal Abidin
0928160
ACC 4291 – Integrated Case Study
Case Analysis Report on Flat Cargo Berhad: An Auditor’s Conundrum
Group : KHADIJAH
Masita bt Abu Bakar 0921714
Arnianty bt Amirbak 0810192
Nik Nur Wahidah bt Nik Zainal Abidin 0928160
Synopsis
Flat Cargo Berhad (FCB) was a listed air cargo carrier service company which also registered as an investment holding company with several subsidiaries. They are FC Spare Sdn. Bhd, Cargo Management Sdn. Bhd, FCB (SPV), Cargo Air Services Sdn. Bhd and FC Air Ltd. Its primary operation was to provide air freight transportation which including air freight services, air freight handling services and leasing.
FCB was aimed to maintain their niche position not only in the Asia Pacific region but also in China, Thailand and India by delivering best quality customer service and satisfying customer demands. Among of its customers are Worldwide Express, United Parcel Services (UPS), Nationwide Express, Citylink, Bax Global, Nippon Express, Cargo Malaysia Services and Bangor Berhad. FCB had appointed Kenchana& Associates as its external auditor.
The Protagonist
Mr Chuah Mun Soong is the main character in this case. He is an auditor for FCB. He needs to present the financial report of Flat Cargo Berhad to the audit committee of FCB in two weeks. However, there are several inconsistencies reported by his subordinates in the accounts of FCB.
The main problem faced by Mr Chuah is there might be high possibility that his client company (FCB) involved in fraud. Mr Chuah had dilemma either to continue servicing this client company or not. Kenchana & Associates reputation might be affected if FCS is really proven to be involved in fraud.
The major issue in the case is the inconsistencies in the accounts of FCB. FCB had