Posted by kenie > 2020-12-30 12:35 | Report Abuse

看到公司里面全部都是印度账,咦..假账 external auditor 肯定跑啦...

Posted by maxstore769 > 2021-01-04 16:22 | Report Abuse

SMTRACK (shareholder meeting)

briefing:

Sitai Technology's turnover in fiscal year 2020 increased by 5.24% to 1.787 million ringgit (2019: 1.698 million ringgit). Its after-tax loss decreased from RM1.776 million to RM816,000 because the company took cost-cutting measures and reduced administrative expenses.

After acquiring CItilink Aviation (M) Sdn Bhd, the company is confident that it can rebuild the former's business.

This acquisition will allow Sitai Technology to get involved in air transportation services and will become a new source of revenue for the group.

Question:

1. As stated in the auditor's qualified opinion, on July 27, 2017, the company and Cherish Works Co., Ltd. (CWSB) signed a settlement agreement. CWSB agreed to use 10 One LeTowe service apartment units to repay the arrears. However, based on on-site witnesses, the auditor could not agree with CWSB's ownership of the apartment. In addition, the construction of the industry is progressing slowly, so the recoverability of the development project and the amount payable cannot be determined (page 43 of the annual report).

a. Since 3 years have passed since the agreement signed by the company, when can CWSB hand over the 10 serviced apartment units?

b. In view of the slow progress of the construction project, how much compensation does the group expect to receive for delayed delivery?

2. The internal audit cost as of July 31, 2020 is 4,000 ringgit (page 28 of the annual report).

a. Given that this fee is very small (approximately RM333 per month), how can the audit committee ensure sufficient coverage and the effectiveness of the audit function?

b. How many audit reports are there in fiscal year 2020? What scope is covered?