Why Khazanah Scholarship is for you? My first word was “Gajah” or elephant in Malay. However‚ that does not mean I am destined to be a zoo vet. As I grew up‚ airplanes in the blue sky always fascinated me. How the airplane flied overwhelmed me for years. Since that‚ my journey in the science world began. I then started playing with Lego‚ a line of construction toys and enjoyed building. Throughout my school years I had triumphed in many robotic competitions and science fairs. My passion of
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Independent Director The purpose of identifying and appointing independent directors is to ensure that the board includes directors who can effectively exercise their best judgment for the exclusive benefit of the Company‚ judgment that is not clouded by real or perceived conflicts of interest. IFC expects that in each case where a director is identified as “independent” the board of directors will affirmatively determine that such director meets the requirements established by the board and is otherwise
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A Framework for Auditor Independence The ISB lays a foundation for future guidance. By Susan McGrath‚ Arthur Siegel‚ Thomas W. Dunfee‚ Alan S. Glazer and Henry R. Jaenicke January 2001 EXECUTIVE SUMMARY THE INDEPENDENCE STANDARDS BOARD issued an exposure draft for a conceptual framework for auditor independence containing the concepts and basic principles that will guide the board in its future standard setting. THE NEED FOR A FRAMEWORK AROSE FROM the jumble of confusing independence rules
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❖ S 9: “Officer” includes directors‚ secretaries‚ receivers‚ administrators‚ liquidators‚ administrating trustees. ❖ S 9: “Director” includes shadow & de facto directors. enforcement of directors’ duties enforcement of statutory duties Civil penalties Who may apply for a Declaration or Order? ❖ S 1317J(1): ASIC may apply for a declaration of contravention‚ a pecuniary penalty order or a compensation order. ❖ S 1317J(2): The company may apply for a compensation order. ❖
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The relationship of audit techniques‚ audit procedures and assertions Audit technique - are the basic tool or means employed to obtain audit evidences. Audit procedures - are the application of audit techniques. Assertions – are representation of management as to the fairness of the financial statements. Audit Techniques Audit Procedures Assertions Count Counting of inventory‚ cash securities‚ unmatured‚ promissory note (to establish existence and where applicable‚ ownership
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“Why do you want to work in this field” I want to work in this field because as a child‚ I was not given the best fertilizer to thrive in a classroom; being coddled and not being held to my fullest potential. I feel that it is my duty to prepare students for a lifetime of success through a well structured‚ fun‚ and friendly‚ environment. Through this environment‚ I hope that with my hard work‚ dedication‚ and help of my colleagues‚ the younger generation of tomorrow will have a pleasurable learning
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Summary of The Auditor The Auditor by James K. Loebbecke tells a story about the life and career of an auditor named Jack Butler. The book shows Jack’s career from his education all the way to his promotion to partner. Loebbecke designed this story about Jack as a teaching tool to give students an understanding about the life of an auditor. The story begins with Jack’s promotion to partner and how it was bittersweet for him. Jack is excited for the promotion‚ but is also nervous about the
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Sample Case 1: Mead Motors purchases an automobile for its new car inventory from Generous Motors‚ which finances this transaction through its financial subsidiary‚ Generous Motors Credit Company (GMCC). Mead pays no funds to Generous Motors or GMCC until it sells the automobile. Mead must then repay the balance of the loan plus interest to GMCC. How should Mead report the acquisition and repayment transactions in its Statement of Cash Flows? Sample Case 1 Solution: Problem Identification: How
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Why did Tim O’Brien wrote this book: This novel is very different from the others that I have read. Tim O’Brien wrote this book to show how it was at Vietnam and what soldiers have to go thru. However he wrote this book under the genre of fiction because this way he could write things that were not true and still make it billable to the reader. Rather than him just saying things as they are. Perhaps if he told things as they really happen then the reader might not be interested of what was going
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Safeguard of auditor independence (i)Established An Audit Committee We support the given measure as Sarbanes-Oxley Act of 2002‚ Section 204 requires auditors reports to audit committee (www.sarbanes-oxley.com).First‚ such committee is independent non-executive directors provide auditors an independent point of reference than executive directors of the company. Second‚ it enhancing the independence of auditors by provides a direct channel of communication between top management and the auditors. As such
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