Toyota

Audit and Assurance (ACCO 1125)


















[By Chan Chee Wey]
To: Ms Magdalene Chia
Date: 2nd Oct 2012






send back of Content


Introduction…………………………………………………….…3-4
Main Body (Positive and negative) ……………………….….......4-8
Recommendation to enhance the attendants role…………………..8-9
Conclusions………………………………………….………..…..9-10
References………………………………………………………...11-12
Appendix……………………………………………….………....13















Introduction

The main purpose of the examine is to verify the financial statements. The analyse is an important part of the jacket crown market framework as it not only reduces the damage of information exchange between managers and sh areholders but also provides a signalling mechanism to the markets that the information which management is providing is reliable.

One of the challenges facing size up practitioners in Malaysia is the low perceived value of the audit function. In short, for many of the small audit clients of the auditors inter viewed, company auditing is viewed as a waste of money and resources.



Notwithstanding the compulsory audit requirement, many auditors have pointed out that the actual contribution of auditing towards its intend purposes is somehow limited. This is because a vast absolute majority of the companies in Malaysia are private companies as opposed to public companies. Furthermore, a majority of these private companies are owner-managed. Hence, an audit appears to be meaningless to most of the private companies because the directors and the shareholders are basically the same people. Next is hindsight military rating of auditors performance, another problem underlying the audit practice in Malaysia is the inability of the public to make a fair paygrade of auditors performance. After that is global competition for human bully, human capital is the most important and essential asset and sourcing for real endowment fund is posing to be a great challenge for the auditing industry.

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