Purnama Sdn Bhd involve in event management business and provide services to private and government agency. The company is required to have annual audit under the provision of the Companies Act, 1965. The owner of the company Mr. Hassan has some bookkeeping experience and has personally prepared the company’s financial statements. He does not understand why such statement should be examined by an external auditor. Explain five (5) ways in which an independent audit beneficial to Purnama Sdn Bhd.
Purnama Sdn Bhd involve in event management business and provide services to private and government agency. The company is required to have annual audit under the provision of the Companies Act, 1965. The owner of the company Mr. Hassan has some bookkeeping experience and has personally prepared the company’s financial statements. He does not understand why such statement should be examined by an external auditor. Explain five (5) ways in which an independent audit beneficial to Purnama Sdn Bhd.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Purnama Sdn Bhd involve in event management business and provide services to private and government agency. The company is required to have annual audit under the provision of the Companies Act, 1965. The owner of the company Mr. Hassan has some bookkeeping experience and has personally prepared the company’s financial statements. He does not understand why such statement should be examined by an external auditor.
- Explain five (5) ways in which an independent audit beneficial to Purnama Sdn Bhd.
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