A Delima Company Background

 A Delima Company Background Essay

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Tengku Hibatul Azzim bin Tengku Abdul Halim

Farah Amylea Binti Azizan

Ahmad Naufal Trash can Azhar

Norasila Md Isa

A Delima

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Company Background

Delima Sdn. Bhd. begun by En. Zayed.

The staff from the company will be amongst members of the family

(Figure 6th. 1)

It conducted trading and man electric power supplies pertaining to oil

and gas and engineering services.

The corporation had been awarded with several

executive projects.

Its total revenue for 2004 and 2005 were nearly

RM 1 . 0 and 1 . 7 , 000, 000.

En Zayed

Chief

Executive

Officer

Puan

Hashimah

Main

operating

official

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Puan Balqis

Procedure

Manager

Cik Amy

Financial

Executive

Empty Project

Boss

Clerical

assistant

Project Team

(Based on

requirement)

Number 6. you

En Salam HR &

Admin

Manager

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Case Overview

May 2006

July 2006

Secured

contract

well worth RM750

500

Engaged Aziz

& Company to

carry out

statutory

review.

Septembe

ur 2006

Audited financial

assertions for the last two

years needed to be issued to

the bank to get application of

bank facilities.

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Question & Answers

&

Were there any kind of abuses of

power by the management or

breach of Directors' fiduciary

duties

?

1 . Fiduciary duties will be:

To behave in good faith

To exercise affordable care, skill & homework.

Not to make a profit away of their placement of trust and

assurance.

To never put themselves in a position of conflict.

Not to act for their own profit or the benefit for a 3rd Party

&

Don't act in the company's best interest.

Make use of incompetent members of the family

Personal expenses and drawings billed to the business. –

purchases of personal car & funds withdrawals of

RM12500

The Administrators were incompetent – Owners are expected to achieve the knowledge, skill and knowledge expected of them

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Who have should be held responsible

and responsible?

2 .

Encik Zayed

Appoint incompetent staff.

Simply no SOP

Puan Hashimah

In charge of all financial related concerns.

drawings & expenses billed on provider's accounts.

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Could the review be finished

soon with no qualification?

3. A great unqualified Examine Opinion is when an Auditor concludes the Financial Assertions give a accurate and fair.

Zero, the examine cannot be finished soon without the

qualification because:

Incomplete information & record can prolong the audit method.

Their impossible to get a great Unqualified Audit report very quickly because of a couple of years lack of statutory Audit.

The internal power over the company is usually poor

Maintaince

Software

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What must be done to

increase the leadership and

management

of Delima

 4.

Business

Sdn Bhd?

Establish the SOPs

Even more training, workshop, studies

Employs skilled and knowledge employees

Segregation of duties.

Internal audit (if possible)

Right documentation. Organized documentations.

Better program and included system

Appoint independent director