TAX COMPLIANCE AND TAX PLANNING WORKSHOP FOR PROFESSIONALS
Inland Revenue Board (IRB) has increased its efforts to increase revenue and to make taxpayers more compliant and therefore have been issuing notices and assessments
ISQM1 – THE PROCESSES (FRAP & MRP)
With a view to bringing a modern and holistic approach to quality, ISQM 1 requires the firm to perform a Risk Assessment Process to identify and …
UNDERSTANDING AND AUDIT OF ACCOUNTING ESTIMATES & IMPAIRMENT
The financial reporting framework for small and medium enterprises (SMEs) over the past few years have seen more frequent use of estimations used in measurement & recognition
TEST OF CONTROL VERSUS SUBSTANTIVE PROCEDURES
The objective of the auditor is to obtain sufficient appropriate audit evidence regarding the assessed risks
of material misstatement, through appropriately responding to the risks identified.
COMPLETION PROCEDURES IN AN AUDIT OF FINANCIAL STATEMENTS
Auditors play a crucial role during the audit finalization and completion stage to ensure that all key matters and procedures are properly addressed and …
USING ANALYTICAL PROCEDURES IN AUDIT
Analytical Procedures have been part of the audit process for decades, but many auditors fail to understand their objectives or how these procedures should be properly applied for substantive testing, resulting in many audit deficiencies, some of which are serious.
PWC Launches Audit Software
PwC had launched a new software tool to provide audit and other assurance services to its clients holding or transacting in cryptocurrency. It is supposed to be part of its ‘Halo’ suite of auditing tools that may be used to provide assurance services for entities engaging in cryptocurrency transactions.
SSM Implements Online Tool
Many companies have been providing corporate information to Suruhanjaya Syarikat Malaysia (SSM) through the use of hardcopies for many years. In turn, this has resulted in certain information being rekeyed into a database by SSM. Alternatively, there has been the conversion of the hardcopies of the corporate
Audit Quality Conundrum
The concerns on audit quality in the Malaysian external audit profession is not something new and have been discussed, deliberated and debated over the years.
AUDIT OF ASSETS
The audit of assets is a critical area in the audit of financial statements as it involves key resources of a business. As such, auditors have to ensure that audit assertions of existence, rights & obligations, valuations, completeness and accuracy is adequately verified so that they are fairly stated in the financial statements.