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PAS334 – INTERNAL AUDITING RUBRICS FOR GROUP PROJECT CHAPTER: CONTEMPORARY ISSUES IN INTERNAL AUDITING CLO 2: Able to apply the internal audit process (procedural and practical aspects) during an audit engagement (Engagement Process) in accordance with the relevant standards and demonstrate a good understanding on the importance of technology in…

4. On 1 August 2022, Tango Bhd bought inventories at RM75,000 (excluding transportation cost of RM2,400) from JP Bhd. The company paid 10% of the value in cash upon the delivery while the balance will be paid in 30 days. On 25 August, the company paid all the outstanding amount…

3. The company’s aging analysis of receivables as at 31 December 2022 is as follows: During the year, the company did not recognise a bad debt (to be written off) of RM12,550 incurred during the year due to omission error. Required: i. Determine the amount of impairment of trade receivables…

2. As at 31 December 2022, a physical stock count was carried out to determine the value of the inventories held by Tango Bhd. The unsold inventories were valued at RM881,750. Due to the flood in December 2022: • 10% of the inventories were fully damaged and could not be…

As at 31 December 2022, the following information has not been included in the company’s financial statements: 1. The information related to the property, plant and equipment of the company is as follows: a. The depreciation policy of the company is as follows: i. Building is depreciated on the straight-line…

PREPARATION OF FINANCIAL STATEMENTS FOR PUBLICATION PURPOSES Tango Berhad manufactures a variety of office equipment in Malaysia. The following is the Trial Balance of the company as at 31 December 2022: cta_question_2

Graded Exercise 2 (100 marks Weightage 5% The Great Outdoors Clothing Company, a mail-order catalog operation, contracts with the Federal Parcel Service to deliver all of its orders to customers. As such, Great Outdoors considers Federal Parcel to be part of its QMS program. Great Outdoors processes orders rapidly and…

Question 1 Discuss how should Adams and his teams keep the organization aligned with changes in the environment? Support with THREE (3) relevant answers. Question 2 Evaluate whether radical change is a viable option at this stage of the change process? Justify your response with TWO (2) points. (10 Marks)…

Stratafin Inc.: Auditing Change It was a chilly winter day in June 2010 Ben Adams, Chief Executive Officer (CEO) of StratAFin Inc., reflected on the previous Friday’s company event when all the staff had spent the evening learning the diski dance, the official dance to celebrate the upcoming World Cup…

Question Mesin Sdn Bhd (MSB) is a company producing machines located in Senawang Industrial Park. MSB was incorporated in June 2015 and closes its account every 31 December. MSB's paidup capital is RM3 million. MSB’s statement profit or loss for its financial year ended 31 December 2022 is as follows:…