Summary Of Delima
Encik Zayed and his wife Puan Hashimah is the Director and the only shareholder of
Delima enterprise. Delima Enterprise Sendirian Berhad conducted trading and supplying with oil and gas industries. The company has secured a contract worth RM750,000 but due to lack of fund the company need to borrow RM1,000,000 with the bank. To get the loan bank need the company unqualified audited financial statement but the company had never performed the statutory audit. The company hired an auditor to audit the financial statement but the auditor wish to qualify the report because of some unresolved issue.
The company was incorporated 2004. The company had maintained a lean organization with basic functional. Encik Zayed hires mostly his family member although they have a low qualification. The company use MYOB system and manually produced sales document. The company pay salary weekly to the worker and the employee prepared the time card. The auditor have problem to complete the audit due to incomplete information and record. Cik Amy the new worker as the finance executive analyse the situation and try to help the auditor although the company have many problem.

Problem Faced by Delima
The Delima Enterprise Sdn Bhd had many problems such as lack of fund to start the contract in the 6 month duration. The company also have a serious management problem because Puan Hashimah and Encik Zayed have no knowledge in handling the company and they treated it like sole proprietor business.
The company also doesn’t have Standard Operating Procedure (SOP) and the
MYOB system is not integrated and cause them manually produce the sales documents.
The employee also prepared their own time sheet which can cause fraud. The company is also unorganized with unrecorded asset and late payment from debtor. The company also doesn’t have project budget and no