Determine the potential indicators that Khoo Designs Bhd. may not face any going concern issues and discuss and explain of the potential indicators that Khoo Designs Bhd. may not face any going concern issues. b. explain and describe the audit procedures that Awal & Associates should perform in assessing going concern issues.
Khoo Designs Bhd. is a kitchen manufacturing company and the company’s year-end is 30 September. Encik Danish is the audit manager of Awal & Associates and have been provided with the information during the audit investigation. Recently, Khoo Designs Bhd. has been experiencing trading difficulties, as its major customer who owes them RM800,000, ceased trading. However, the balance is included in the financial statements. The sales director has left Khoo Designs Bhd. and yet to be replaced. The monthly
Required:
a. Determine the potential indicators that Khoo Designs Bhd. may not face any going concern issues and discuss and explain of the potential indicators that Khoo Designs Bhd. may not face any going concern issues.
b. explain and describe the
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