My Opinion of Auditor

What is an Auditor? 

  - Auditor is a person who appointed and authorized to examine accounts and accounting records, compare the charges with the vouchers, verify balance sheet and income items, and state the result.

Responsibilities of an Auditor

• Provide An Audit Report 
• Report Failure To Maintain Proper Books Of  Account 
• Duty To Report Indictable Offences
• Duty To Exercise Professional Integrity 

1) Provide An Audit Report

  Providing the audit report is the main responsibilities of an auditor. The auditor report should state the opinion of the auditor such as a qualified opinion, a disclaimer opinion and an adverse opinion. Auditor should make sure that the financial status give a true and fair view of the state of the company affairs. The auditors' report must be made available to every member and be read at the AGM.

A part of the Auditor Report 

( Sources : https://www.examples.com/business/audit-report.html )

2 ) Report Failure To Maintain Proper Books Of Account

  As an auditor, they have to check the company financial status. In order to make sure that, all the financial status from the company is real and accurate. If the auditor find out that a company did not kept proper books of account, they need to notify the company of this opinion. When there are a mistaken or wrongly record that found out by the auditor, the company are required to correct the account this situation within seven days. If the director are not taking the necessary steps, auditors must notify the Companies Registration Office of their opinion. 


3) Duty To Exercise Professional Integrity
   
    Auditor must carry out audit with professional integrity. This is because they may be liable to their company if they do not promise with their duty to exercise their skill. As an auditor, he/she has responsibility to profession comply.  

4) Duty To Report Indictable Offences

    Auditor have an important identity in a company. This is because auditor is the person who do the checking of company financial report. They will lead others to believe a company. Therefore, according to the Company Act, when auditor discover information they must report this to the Office of the Director of Corporate Enforcement (“ODCE”) and help the ODCE with their investigation of the report. 

My opinion of the 'Auditor' 

Auditor - a person or a firm appointed by a company to execute an audit.

    In my opinion,  Auditor is a person who need to help company check all the financial transaction in order to make sure all the transaction is accurate and real. 
     
    My impression of Auditor is their salary is high and it is the hardest job in the accounting industry. But in order way, working as an auditor is not that easy as we think. An auditor need to have enough patient to check all the transaction of a company. Although auditor not checking 100% of the financial statement, but still at least 50%. 

     Auditor need to check financial transaction every 3 months. Therefore, in that period auditor must always ready to work overtime. Sometimes, they need to work until midnight because of the due date of work. They need to sacrifice their sleeping time to done their work. 

       The higher the control risk, the lower the sampling risk, the company internal control is poor. When the company internal control is poor, auditor need to check more. Therefore, their workload will increase. 

       As an accounting student, I am very admire auditor. This is because they are very hardworking. Besides that, they also can endure the dislike of accountant. Last but not least, they can done the mountainous pile of work. 


     Below is a video that briefly describe about auditor work.

Sources : https://www.youtube.com/watch?v=VDya4ZPrLTc 

Publish by : Career Igniter, Date : Feb 3 2017, Titile : What does an auditor do?

Why Choose To Be Accountant

Why Choose To Be Accountant

Today, I am going to talk about why I choose to learn accounting and want to an accountant in future. I believe that the students not yet leave their school to go out into the world have been asked by their families or friends what subjects they will study in university or college and what jobs they will do in the future. They have a lot of uncertainties about their future, and so am I.

However, i felt in love with accounting and promised to be an accountant when I was 16, which was the year I first to contact and learn it in high school. This idea was very simple because I like calculation and digit. Other than that, I am a very introverted and quiet person, so I think I am quite fit for this job, and my family also support me very much. Over time, I learned a lot about accounting and gradually found that there are many advantages to be an accountant:

Stable and Growing

Accountant is a stable and growing job field. We can get a job in the accounting field or even in an internship in accounting easily if you don’t have high expectations about your job. The job prospect in accounting is expected to grow over the next few years. This is because there is always a high demand for accountant when there is businesses exist. Most of the companies are having accounting department for providing financial information to decision maker, helping in taxes, auditing and so on. So really there are various opportunities in accounting field. 

Work Everywhere

This job is available in everywhere, in every industry and even in every country. Big city or small city? UK or US? Private or public? Work in insurance or company management? As I said before most of the companies in the world are having accounting department because every company need people to do their accounting. Besides to the accountants who work in office, working from home is also possible as an accountant.

Many Different Field of Specialty

Accountants can be divided into different types. For example, financial accountants provide information for external use in the form of financial statements. Management accountants produce information for internal user such as employees and management. Tax accountants focus on tax issues. Hence, there are various opportunities for an accountant job in the market.

Income

PayScale, https://www.payscale.com/research/MY/Job=Accountant/Salary

According to the PayScale, the average salary for an accountant in Malaysia is RM56, 773 per year. Other than that, PayScale also reports that the top 25% of them are making more than RM82k salary per year. From this website, we can know that the highest paying skill associated with this job is SAP financial accounting and controlling (SAP FICO), financial analysis and financial reporting. In addition, there are also many health benefits received by the accountants in Malaysia such as medical, dental and vision.

Although many people told me that accountant is a hard and busy job, often work overtime and even it is a boring job, but I am still full of expectation for this job as an accountant.

Below is the video that briefly introduce the work of accountant and how to be an accountant.

Source: https://www.youtube.com/watch?v=7SbhbG5WhzA, Published by: Brentwood Open Learning College. Date: 3 August 2016. Title: How to be an accountant.

Publish By : Tan Yoong Shin

Introduction To Group Members

INTRODUCTION

    This blog will manage by 3 members which is Tan Yoong Shin , Ying Hiew Kee and Chow Li Ling. Here will be the introduction for each member. 

1) Tan Yoong Shin 

     My name is Tan Yoong Shin, aged 19. I am studying diploma of accountancy in Erican College which located at Kuala Lumpur. Many people asked me why I would choose to study accounting course. This is because I think my introversion is very fit for the accountant profession, and also can accept for a long time to stay in the company. However, the most important is because the demand of accounting in the market is very high due to most of the companies are need accountants; it will help me to find a job easier in the future. If who wants to know more about accounting or auditing information, can refer to my following blog. Apart from that, this is my first time to write blog, is quite a new experience for me. Other than that, I also learned a lot of knowledges about the financial scandal that had happening before from the researches which are cannot be learned in books.

2) Ying Hiew Kee 

  My name is Ying Hiew Kee. I am 19 years old. Currently, I am studying diploma of Accountancy in Erican College which located at Jalan Yap Kwan Seng, Kuala Lumpur. Actually, I am a person who like to run around. I rarely stay in the same place for a long time. Therefore, people keep asking me 'Did I really suitable for being an accountant? 

  Personally, I also think about this question before I chosen this course. But considering my own physical strength and the I think I am more suitable for working in office. For accountant job, the demand of accountant requires is high. It will be easier to get a job compare to others. Besides that, I am a person who like number and calculation. So, I think is suitable for me to choose Diploma in Accountancy.

  

3) Chow Li Ling

     I am Chow Li Ling, from Erican College which is located at Kuala Lumpur. I am 19 years old. The reason why I study accounting course is because I am interested in it.  I had seen most of my seniors did very well in this field and they are the ones who motivated me to perform well in my studies. I wish to be like them in the future to make my family proud. Besides, I wish to enhance myself by furthering my studies after finishing my diploma. I found out that I became more interested in this field when my lecturer started to teach me about auditing. Therefore, I am determined to become an auditor in future. I wish that I can have a bright future in this competitive sector.

Genius is here Group Photo

(Tan Yoong Shin ,  Ying Hiew Kee , Chow Li Ling)

 Purpose of doing this blog

The purpose of writing blogs is because it is one of our assignments which each person have to write at least three blog about accounting, auditing and also financial scandal. Therefore, we will know more about auditing and accounting after this semester.