MZ Communications Sdn. Bhd. is a large mo stores in countries across Malvives Island. The a new client for Sanusi & associates. Mr Sam nave been provided with the following planning with the finance director. MZ purchases goods from a supplier in South central warehouse. The goods are usually in tra
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Answer all the question
![MZ Communications Sdn. Bhd. is a large mobile phone company which operates a network of
stores in countries across Malvives Island. The company's year end is 30 September 2019 and is
a new client for Sanusi & associates. Mr Sammy is the audit senior of Sanusi & Associates and
have been provided with the following planning notes from the audit partner following his meeting
with the finance director.
MZ purchases goods from a supplier in South Asia and these goods are shipped to the company’s
central warehouse. The goods are usually in transit for a month and the company correctly records
the goods when received. MZ does not undertake a year-end inventory count, but carries out
monthly continuous (perpetual) inventory counts and any errors identified are adjusted in the
inventory system for that month.
During the year, the company introduced a bonus based on sales for its sales persons. The bonus
target was based on increasing the number of customers signing up for 36 month phone line
contracts. This has been successful and revenue has increased by 30%, especially in the last few
months of the year.
The level of receivables is considerably higher than last year and there are concerns about the
creditworthiness of some customers. MZ has a policy of revaluing its land and buildings and this
year has updated the valuations of all land and buildings.
During the year, the directors have each been paid a significant bonus, and they have included this
within wages and salaries. Separate disclosure of the bonus is required by local legislation.
Required:
a. Explain how the auditor assess control risk in the inventory process of MZ Communications
Sdn. Bhd. by providing ONE (1) example each.
b. Discuss the potential risk during audit planning of MZ Communications Sdn. Bhd. based on the
notes given by the audit partner.
c. Assess how the auditor's response to each risk of MZ Communications Sdn. Bhd. in (a).
d. Recognise the auditor's responsibilities for related parties and related party transactions of MZ
Communications Sdn. Bhd.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0e5a1772-6414-4083-b891-b28976a4fedc%2F40c873f9-6c4d-4319-8a6b-b141f8d90b84%2Ffozb8h7_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![Practical Management Science](https://www.bartleby.com/isbn_cover_images/9781337406659/9781337406659_smallCoverImage.gif)
![Operations Management](https://www.bartleby.com/isbn_cover_images/9781259667473/9781259667473_smallCoverImage.gif)
![Operations and Supply Chain Management (Mcgraw-hi…](https://www.bartleby.com/isbn_cover_images/9781259666100/9781259666100_smallCoverImage.gif)
![Practical Management Science](https://www.bartleby.com/isbn_cover_images/9781337406659/9781337406659_smallCoverImage.gif)
![Operations Management](https://www.bartleby.com/isbn_cover_images/9781259667473/9781259667473_smallCoverImage.gif)
![Operations and Supply Chain Management (Mcgraw-hi…](https://www.bartleby.com/isbn_cover_images/9781259666100/9781259666100_smallCoverImage.gif)
![Business in Action](https://www.bartleby.com/isbn_cover_images/9780135198100/9780135198100_smallCoverImage.gif)
![Purchasing and Supply Chain Management](https://www.bartleby.com/isbn_cover_images/9781285869681/9781285869681_smallCoverImage.gif)
![Production and Operations Analysis, Seventh Editi…](https://www.bartleby.com/isbn_cover_images/9781478623069/9781478623069_smallCoverImage.gif)