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For most taxpayers, hearing both “LHDN” and “audit” (Also see Introduction to Audit Strategy) can be intimidating, especially for those who run their own business as most probably their record-keeping and deductible expenses will be more complicated than that of most people. If the companies have been engaging with an audit firm in Johor Bahru … Read moreAudit – What Should You Expect in Tax Audits?

In the world of business, the sales and collection cycle is the process which starts from the moment when a person purchases certain goods or services and ends when the company that sells the item receives the full payment. As a company conduct a year-end audit on its financial statements, the external auditors (Also see … Read moreAudit – Auditing the Sales and Collection Cycle

When the audit firms in Johor Bahru have an engagement to audit a corporate department, the auditors should acquire audit evidence (Also see Types of Audit Evidence), detect financial frauds and errors, as well as determine the exposure to risks of that department. They should apply their independence as auditors and present the department’s financial … Read moreGuidelines on Auditing a Corporate Department

An audit committee of a company refers to a group of non-executive directors that the board of directors has set up and is responsible for supervising it. This committee has a very close relationship with the structure of a company’s board of directors. Typically, the board of director will set up many distinct sub-committees with … Read moreAudit Committee – Its Definition, Responsibilities and Requirements

Definition: An unqualified opinion is an opinion which the auditors (Also see Characteristics of an Excellent Auditor) will give to their clients after performing the testing on the audited financial statements. If an auditor provides an unqualified opinion, it means that there is no material misstatement and the client has prepared and presented those statements … Read moreAudit – Introduction to Unqualified Opinion