Audit Firm

Audit is some kind of reviewing and checking the financial statements of the company.The motive is to assure that the financial statements are in true and fair view, meanwhile to prevent material misstatement.

Even though only 2 weeks working in the audit firm, have learned lots.They taught me how to audit.Initially thought that audit is super complicated.Now realized that actually it's only kind of a procedure.

Firstly is to check whether the opening and closing of accounts in the trial balance are accurate.Then will vouch the ledger of accounts, by comparing against the evidence of documents.Searching for vouchers of expenses as a prove, etc.

After vouching and listing all kind of trade receivables, payables, liabilities and assets, we will do financial reports.The income statement, balance sheet and cash flow statement, with the audit adjustments on the accounts, in round up figures.

Lastly we'll do tax calculations (actually the taxation department is responsible on it, not the duty of auditors.) It's about estimating tax, tax paid, tax payable and deferred tax.Well..deferred tax isn't part of the tax..we have misunderstood.It is the difference of percentage between depreciation and capital allowances of assets. (pss : i'm still blur on it loll.. =P )

Before i end, would like to say thousands of thank to all my seniors in the audit firm.Thanks for being such patient on me.Thank you all.. i really do appreciate.. =)

Willling of me to share my experience to my frenz..hopefully these would give you all some guidance and advantage. would it?


~ cheers ~