After a long weekend break, I back to the office, and at first I planned what are the things I am going to do today, the first thing I plan to do is to discuss with my manager, Wei Xun the variances we found for the Envictus group and to ask him what should we do to deal with it, the second thing to help Kar Enn to do aging test for a company namely Adient Automative Components Sdn Bhd.
I decided to conduct the CAATs for Adient Automative Components Sdn Bhd first considering that my manager still hasn't entered the office yet. The CAATs aging test does not take me a long time to complete as I believe I have the experience in doing the test and I am then able to complete the test in a shorter time after that. The test showed that there is no variance, I then organize the work and the report then put it into the server file to share with Kar Enn.
After that, Wei Xun entered the office then I go to his side and showed him the variances that I found for Envictus, I showed him that I classified the causes of variance into two types, one is what I called there a transaction that happened during the year but the trial balance did not include it and another cause is the unidentified cause as the total sum of debit and credit amount that we calculated does not equal to the closing balance of the trial balance, I pointed to Wei Xun that this variance might due to the reason the some of the general ledgers are in an unstructured pattern and hence it ends up bringing the variance that we have now. After that, Wei Xun asked me to conduct another meeting with the client, in the meeting, I need to present and show whatever things I showed to Wei Xun just now and to clarify with the client to ask them to resend us the general ledgers but this time in a structured format. I then passed the message to Kar Enn and we emailed Kar Enn to arrange a meeting whenever the client is free, and at the same time I will be preparing the materials I need to present to the client during the upcoming meeting, Before I leave office, then Ili passed me another task which is to conduct an ITGC audit on a company namely YX Precious Metal Berhad, I went through the document and then packed my stuff and going back to my room for rest.
Main things that have learned
Discuss with Wei Xun how to deal with variance
Help Ili do ITGC
Help Kar Enn to do aging
Comment/idea/opinion
N/A
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