report a delima
A DELIMA ENTERPRISE SDN BHD
Company background
Founded in 1981, by Encik Zayed that conducted trading and supplying related products including manpower supplies to the oil and gas industries. In 2004, the enterprise was incorporated as Delima Enterprise Sdn. Bhd. Two principle shareholders and controlling directors were Encik Zayed and Puan Hashimah who are husband and wife. They also hired their family members to work in the company that are Puan Balqis and Encik Salam as Operation manager , Human resources and Administration manager respectively.
Below are the organization chart of A Delima Enterprise Sdn Bhd :
Summary of the case :
This case is about Delima Enterprise which wants to make banking facilities from Malayan Banking Berhad and CIMB Bank Berhad. The banks required company’s Audited Financial Statements for the last two years. From the requirement, Encik Zayed and Puan Hashimah realised that the company did not performed any statutory audit before. So, they engaged with the external Auditor Aziz & Co. (Chartered Accountant). The auditor need to performed statutory audit for the period 2003 to 2006.
To resolve several issues, the auditors need to qualify the Financial Statements. But, Encik Zayed and Puan Hashimah tried to negotiate with the auditor to not qualify the Financial Statements. The auditor was not agreeing with the Encik Zayed negotiation and he planned to terminate the auditor appointment. Encik Zayed also want to appoint new “friendly party” auditor to make the audit reports. The company also have appointed Cik Amy to analyse and provide the auditors with necessary clarification and documentation. Cik Amy was a young accounting graduate from local university. She has no working experience to do the job.
Besides they do not familiar with audit, they also did not familiar with Accounting Standards and the provisions of the Companies Act 1965, including their roles as Company Directors. This company also a
Company background
Founded in 1981, by Encik Zayed that conducted trading and supplying related products including manpower supplies to the oil and gas industries. In 2004, the enterprise was incorporated as Delima Enterprise Sdn. Bhd. Two principle shareholders and controlling directors were Encik Zayed and Puan Hashimah who are husband and wife. They also hired their family members to work in the company that are Puan Balqis and Encik Salam as Operation manager , Human resources and Administration manager respectively.
Below are the organization chart of A Delima Enterprise Sdn Bhd :
Summary of the case :
This case is about Delima Enterprise which wants to make banking facilities from Malayan Banking Berhad and CIMB Bank Berhad. The banks required company’s Audited Financial Statements for the last two years. From the requirement, Encik Zayed and Puan Hashimah realised that the company did not performed any statutory audit before. So, they engaged with the external Auditor Aziz & Co. (Chartered Accountant). The auditor need to performed statutory audit for the period 2003 to 2006.
To resolve several issues, the auditors need to qualify the Financial Statements. But, Encik Zayed and Puan Hashimah tried to negotiate with the auditor to not qualify the Financial Statements. The auditor was not agreeing with the Encik Zayed negotiation and he planned to terminate the auditor appointment. Encik Zayed also want to appoint new “friendly party” auditor to make the audit reports. The company also have appointed Cik Amy to analyse and provide the auditors with necessary clarification and documentation. Cik Amy was a young accounting graduate from local university. She has no working experience to do the job.
Besides they do not familiar with audit, they also did not familiar with Accounting Standards and the provisions of the Companies Act 1965, including their roles as Company Directors. This company also a
References: Governance - What is Governance.html