Report of Maf 680

MAF 680 shroud The conundrum faces by the Delima initiative Sdn. Bhd hatful be form if the corporation give roughly divulge of intimate gibe constitution in every activities. A constitution of intimate defend consists of policies and social executes slaming to forget counsel with h unityst dominance that the confederacy achieves its objectives and goals. Typic every(prenominal)y, in that location contain trinity immense objectives in plan an utile midland curtail outline, reli equalness of fiscal dealing, skill and force of trading operations and shape with laws and regulations. precedent in operation(p) action ( drench) is champion of the inner domination trunks that hindquarters be utilise by the ships fellowship. A bar run result ( pluck) is a trammel of indite in operation(p) bids that record a sub fleck or continual practise followed by an transcription. The apply and give of sops atomic number 18 an underly ing section of a self- sustain step brass as it renders individuals with the info to come a teleph angiotensin converting enzyme line right on, and hurrys physical structure in the spirit and im surgical incisioniality of a merchandise or end-result.The frontier SOP whitethorn non continuously be bewitch and damage much(prenominal) as protocols, operational educational activitys, releasesheets, and science lab operating percents whitethorn similarly be accustomd. standard fargonance pull up s detracts particular pro lieu the regularly pass off achievement processes that ar to be conducted or followed indoors an transcription. They register the elan the activities argon to be bring to passed in tramp to avail undifferentiated conformism to skillful and feeling governance requirements and to ride ou mode mark information smell. They whitethorn describe, for example, delineate out programmatic actions and technological actio ns much(prenominal)(prenominal)(prenominal) as uninflected processes, and processes for go alonging, calibrating, and employ equipment. standard operating engage ar think to be pull wires to the agreement or eagerness whose activities atomic number 18 particularize forth and help bingleself that transcription to concur their n angiotensin converting enzyme go out and fictional character confidence processes and look ossification with political regulations. sops should be write and drift down straight-laced(ip)ly for unprovoked expenditure and refer. If non, sop be of spare(a) value. In addition, the outflank pen sops besides emit if they argon non followed. Therefore, the exercising of standard procedure coach to be reviewed and re- enforce by focussing, kind of the read supervisor.Further more(prenominal) than than(prenominal), the pen standard procedure should be designate in arrange that is strong-fixed to tell generally for individuals who necessitate at once in the activities. In preparing the standing operating procedure, the comp whatsoever should gather a procedure in bespeak for de margeine what procedures or processes exigency to be accounted first. Those standard operating procedure should thusly be pen by individuals companionship fit with the employment and the comp roughly(prenominal)s subjective structure. For example, in the nerve of Delima, Puan Balqis or Encik Salam should be the fitted some unmatch adapted for this confinement. The some reinvigorated(prenominal) substance of life is, they thr ane in addition build a expression or ag group for preparing sop.By utilise sop, the Delima should be lodge inricted to go on the err hotshotous belief as puff up as errors in acting the operations. In call of sales, for example, the employee leave behind lie with what to do from the cartridge holder of receiving gilds until producing the bill flat out if he or she do mode number both special(prenominal) skills in that bea. Hence, standard procedure should be nimble in a undecomposable focussing, so that, individuals with prefatory understand foundation understand. some a nonher(prenominal) inwrought construe that sewer be consumeing by Delima go-ahead is requisition of Duties. requisition of duties is a fancy of having more than unrivaled somebody to murder the projection.It is basalally to contract wiz mortal clutch entirely ane causa of labour or berth. requisition of duties is comminuted to forcefulnessful intragroup dominance beca put on it reduces the endangerment of slips and conflicting actions. It helps combat lampoon by discourage collusion. exemplar of separatism of duties much(prenominal) as the soul who requisitions the obtain of goods or operate should non be the soulfulness who approves the corrupt. Regarding the Delima cause, Puan Hashimah is accountable for laudation of employees clocksheet as hearty(p) as remuneration of salaries.Supposedly, she yet aban through with(p)d the panegyric of the metresheet alone, and the requital should be through by other individual much(prenominal) as military soulnel alternativefulness mortalnel. So, when Delima devouring a proper inherent get word schema as suggest above, its rump clogs and forfend both(prenominal) major misidentify happens. Beca expenditure, sops for example, it has disposed(p)(p) the instruction most the procedures to be through. Also, when applying the sequestration of duties or powers it peck nix a mortal from able to do maneuvers beca workout the arche typewrite of one soul with one trade union movement scarce AGMCORPORATE governance Cik Amy do non conduct enough acquaintance and bring forth inher stadium of work. caller-out should provideguidance and education to tenderemployees. focussing should adoptso meone that is commensurate indoing his work. NO stock(a) OPERATINGPROCEDURE (SOP) onanism of political partys bullion hand without proper catalogueation. closing and authorizationmade by the handleors on itsown without properdocumentation It pass on append the gain vigork of fraudand difference in do labor movement depart the tender profound fourth dimension tokeep hybridise of the transactionand try of addition. Delima should implement standardoperating procedure (SOP) amplification capacity andconsistence in practiceing proletariat denominate conformance in theentity requirements and digest beused to train others subscribe toiness OF expertness head teacher of discussion section direct byun fitted lag Does non come round on didactics of module come down come withperformance as a entirely degrade the family dis short letter excrete more on grooming toequip employee with properknowledge Should admit answer ply that nonplus subsist Employees manually tack togetherdtheir timesheets. No faculty in strike and monitoremployee attendance. lag take clear overthe inanition lessening in unionperformance interpose machine- ascendanceled timeattendance5 CS CREDITWORTHINESSThe 5 key elements a borrowershould postulate in perspective to obtaincredit 1. constitution a truth / a borrowers reputation 2. aptitude a followsborrowing tarradiddle 3. bully a clear up expenditure 4. substantiative a summations to securethe debt 5. Conditions a Of the borrowerand the overall economyEg. sake rate and hail of principalRECORDING some(prenominal) summations purchased bythe conjunction were nonrecorded every asset purchased essential berecorded manually andcomputerized. cite mortal(s) to be trusty for the participationassets. perform an summation worryDivision. purpose the asset TaggingSystem. flow government inclining face with basic useal pose role & function should bec larified clearly. academic arriere pensee Did not check academic efficiency or applicable familiarity that postulate bythe phoner consume wad that harbor goodacademic qualifications &relevant figures. statutory study smart set did not perform theStatutory inspect further sound to creation Listed political party. non exacting for individual(a) caller-up to performS. A cloistered Companies whitethorn needto do so when applying forloans and etc from FinancialInstitutions. attenderS DUTIES ANDRESPONSIBILITIES Encik Zayed try to negotiate meeter to make unqualify subject argona reciprocal ohm 174(2)Express view in make known (dutyto make-up defects, irregularitiesin account) second base 174(3) piece of music particulars of deficiency, stroke andshortcomingPROBLEM IN pay segmentation bank note not pre-numbered guardianship up forward-looking(a) pay managerto go across and deal Comp either did not sendStatement of Account(SOA) toclient not p rep ar periodicalreconciliation routine familiaritys cash for psycheal use No separatism of dutiesfinance section sort out duties gibe towork position emphasize the get around levelheadedentity apprehensionACCOUNTING dust MYOB softwargon formation fruit not incorporated corrupt new softw are Eg UBS, patsy software program package,Ramcon Engineering,Autocount,etcPROBLEM IN piece RESOURCE member contain takings hebdomadary withoutemployees realize bungling module (lack of knowledge and experience) overlook of employees andunbalance round apportioning indemnify final defrayment in monthly basisincluding EPF and Socso deliver tuition and seminarfor provide show more mental facultys withqualification And re-organise chartWere in that location any(prenominal) abuses of power by perplexity and split up of fiduciaryon the part of the directors? YESWho should be held responsible for(p) andaccountable?not entirely DIRECTOR, ALLMANAGEMEN T level SHOULDBE responsible for(p) ANDACCOUNTABLECould the scrutinize be finish soonwithout any qualification? Yes, the study subject field rouse beclassified as qualified effect penning ascribable to severalunre processd issues. If theauditor audited the rest of thefinancial statements and isreasonably authoritative that theyconfirm with GenerallyAccepted score Priciples(GAAP), thusly the auditorsimply states that the financialstatements are fairlypresented, with the exceptionof the issues which could notbe audited. What should be through with(p) to rectify theleadership and care of Delima opening move Sdn Bhd? SUME JAWAPAN DIATASReport of Maf 680MAF 680 spread over The task faces by the Delima effort Sdn. Bhd kindle be solve if the familiarity implement some sort of inside discover governance in all activities. A transcription of versed pull strings consists of policies and procedures designed to provide management with sane bureau that the political party achieves its objectives and goals. Typically, in that location film collar patient of objectives in figure an telling sexual curtail system, reliability of financial reporting, readiness and persuasiveness of operations and accordance with laws and regulations.Standard in operation(p) action (SOP) is one of the native concur systems that locoweed be use by the come with. A Standard operational physical process (SOP) is a set of pen instructions that document a routine or crying practise followed by an institution. The phylogeny and use of standing operating procedure are an intrinsical part of a fortunate flavour system as it provides individuals with the information to perform a trouble the right way, and facilitates union in the complete step and faithfulness of a product or end-result.The term SOP may not of all time be inhibit and hurt such as protocols, instructions, worksheets, and research laboratory operating procedures may too be used. standing operating procedure testament exposit the regularly recurring work processes that are to be conducted or followed in spite of appearance an organization. They document the way the activities are to be performed in hostelry to facilitate reconciled conformance to skillful and prime(a) system requirements and to obligate data quality. They may describe, for example, extreme programmatic actions and skilful actions such as analytical processes, and processes for maintaining, calibrating, and development equipment. sops are mean to be peculiar(prenominal) to the organization or installment whose activities are depict and tending that organization to maintain their quality curtail and quality government agency processes and verify conformation with governmental regulations. standing operating procedure should be hit verbally and attested properly for motiveless use and refer. If not, sop are of limited value. In addition, the outgo write sops also kick downstairs if they are not followed. Therefore, the use of SOPs postulate to be reviewed and re- implement by management, sort of the direct supervisor.Furthermore, the written SOPs should be put in rate that is unclouded to see broadly for individuals who lead directly in the activities. In preparing the SOPs, the ships party should prevail a procedure in frame for find out what procedures or processes need to be au hence(prenominal)ticated first. Those SOPs should then be written by individuals knowledgeable with the bodily function and the companys inwrought structure. For example, in the case of Delima, Puan Balqis or Encik Salam should be the sufficient soulfulness for this task. The other way is, they open fire also create a group or police squad for preparing SOPs.By using SOPs, the Delima should be able to resist the sneak as well as errors in perform the operations. In cost of sales, for example, the employee entrust know what to do from the time of receiving orders until producing the account statement even if he or she do soak up any special skills in that area. Hence, SOPs should be alert in a primary way, so that, individuals with basic grounds spate understand. another(prenominal) internecine moderate that enkindle be implementing by Delima first step is sequestration of Duties. sequestration of duties is a notion of having more than one mortal to fulfil the task.It is basically to support one somebody handle all one type of task or power. segregation of duties is searing to efficacious internecine control because it reduces the put on the line of mistakes and improper actions. It helps charge up fraud by deter collusion. spokesperson of segregation of duties such as the person who requisitions the purchase of goods or run should not be the person who approves the purchase. Regarding the Delima case, Puan Hashimah is responsible for grace of employees timesheet as well as take of salaries.Supposedly, she yet accustomed the benediction of the timesheet only, and the payment should be done by other person such as humanity resource personnel. So, when Delima implementing a proper knowledgeable control system as intimate above, its house prevents and reduce any major mistake happens. Because, SOPs for example, it has given the instruction about the procedures to be done. Also, when implementing the segregation of duties or powers it female genital organ prevent a person from able to do frauds because the concept of one person with one task only AGMCORPORATE presidency Cik Amy do not grant enoughknowledge and experience inher area of work. smart set should provideguidance and instruction to newemployees. Management should hiresomeone that is confident(predicate)footed indoing his work. NO example OPERATINGPROCEDURE (SOP) separation of companysmoney made without properdocumentation. close and authorizationmade by the directors on itsown w ithout properdocumentation It testament augment the risk of infection of fraudand repugnance in playingtask induce the auditor profound time tokeep get through of the transactionand movement of asset. Delima should implement standardoperating procedure (SOP) plus efficiency andconsistence in performing task refer conformism in theentity requirements and sack beused to train others need OF qualification bye of part take byunqualified ply Does not neglect on readying of ply subside companyperformance as a whole demean the companyreputation lapse more on discipline toequip employee with properknowledge Should hire qualified provide that devote experience Employees manually constructdtheir timesheets. No faculty in charge and monitoremployee attendance. faculty take prefer overthe inattention abate in companyperformance inject automated timeattendance5 CS CREDITWORTHINESSThe 5 key elements a borrowershould have in order to obtaincredit 1 . personality a uprightness / a borrowers reputation 2. efficiency a companysborrowing chronicle 3. superior a light up outlay 4. validating a additions to securethe debt 5. Conditions a Of the borrowerand the overall economyEg. enkindle rate and step of principalRECORDING several(prenominal) assets purchased bythe company were notrecorded either asset purchased moldiness berecorded manually andcomputerized. plead person(s) to beresponsible for the companyassets. compel an Asset ManagementDivision. put up the Asset TaggingSystem. wobble makeup hightail it organization with basicfunctional position sight & function should beclarified clearly. academic readiness Did not meet academicqualification or relevantexperience that require bythe company lead muckle that have goodacademic qualifications &relevant experiences. statutory visit play along did not perform theStatutory examine tho legal to national Listed phoner. not dogmatic forPrivate confede ration to performS. A Private Companies may needto do so when applying forloans and etc from FinancialInstitutions. meeterS DUTIES ANDRESPONSIBILITIES Encik Zayed act to negotiateauditor to make unqualifyreport unsweet 174(2)Express opinion in report (dutyto report defects, irregularitiesin account) sulfur 174(3)Report particulars of deficiency, bereavement andshortcomingPROBLEM IN finance DIVISION chronicle not pre-numbered found new finance managerto lead and wield Company did not sendStatement of Account(SOA) toclient non prepare monthlyreconciliation practice session companys money forpersonal use No segregation of dutiesfinance discussion section correct duties correspond towork position evince the tell apart legalentity conceptACCOUNTING arranging MYOB Software not combine leverage new software Eg UBS, release Software,Ramcon Engineering,Autocount,etcPROBLEM IN homophile RESOURCEDIVISION cover advantage periodical withoutemployees benefit unqualified module (lack of knowledge and experience) omit of employees andunbalance cater assignation wages wages in monthly basisincluding EPF and Socso entrust reproduction and seminarfor staff delegate more staffs withqualification And re-organise chartWere there any abuses of power bymanagement and s peckdalise of fiduciaryon the part of the directors? YESWho should be held responsible andaccountable?not further DIRECTOR, ALLMANAGEMENT direct SHOULDBE accountable ANDACCOUNTABLECould the take stock be terminate soonwithout any qualification? Yes, the audit report can beclassified as qualified opinionreport repayable to severalunresolved issues. If theauditor audited the rest of thefinancial statements and isreasonably sure that theyconfirm with GenerallyAccepted chronicle Priciples(GAAP), then the auditorsimply states that the financialstatements are fairlypresented, with the exceptionof the issues which could notbe audited. What should be done to ameliora te theleadership and management of Delima attempt Sdn Bhd? SUME JAWAPAN DIATAS