Diara Adnin's Internship Journey

  WEEK 5 Date: 30 September 2024  Day : Monday Location : BDO Office, Level 18, Menara Zurich Time: 8.30 a.m - 5.30 p.m TASKS OF THE WEEK   Day 131 ( 30 September 2024) Last Day of Internship and Returning the Laptop On my last day of the internship, I felt overwhelmed but focused on ensuring that all my assigned tasks were completed. I double-checked my previous work to confirm that all documentation was properly organized. Additionally, I submitted my assignment report, which is mandatory for all staff to prepare at the end of an engagement. This report allows auditors to evaluate their own performance and reflect on areas for improvement, while managers provide feedback and review the submissions.  I submitted my report to four managers for their evaluation and feedback on my performance across different engagements which will help me improve and enhance my future work. After completing my tasks, I packed all my belongings that needed to be returned, including my ...

  WEEK 4 Date: 23 September 2024 - 27 September 2024 Day : Monday - Friday Location : DESB, Pasir Gudang Time: 8.30 a.m - 7.00 p.m TASKS OF THE WEEK   My last engagement at DESB Day 126 ( 23 September 2024) Updating Progressive Billing & Payment Cerificate In updating the Progressive Billing and Payment Certificate, I focused on identifying payments made during the year to ensure accurate accounting and compliance with project agreements. This review involved a detailed examination of all progressive billings submitted, cross-referencing them with payment records to verify that billed amounts matched payments received. Ensuring that all necessary approvals for these payments were secured is crucial for maintaining financial integrity and transparency. Lessons Learned: Through the day, I learned  the importance of accurate record-keeping became evident, as thorough documentation helps track payments and identify inconsistencies early. Additionally, effective communicat...

WEEK 3 Date: 16 September 2024 - 20 September 2024 Day : Monday - Friday Location : DESB, Pasir Gudang Time: 8.30 a.m - 7.00 p.m TASKS OF THE WEEK   Third week at DESB Day 121 ( 16 September 2024) Public Holiday - Hari Malaysia Day 122 (17  September 2024 ) Company Declare Holiday - Hari Malaysia Day 123 (18  September 2024 ) Performing sales verification I met with Ms. Laili to obtain the information previously requested and updated the respective working papers accordingly. However, I faced challenges in securing the relevant documents due to multiple individuals being responsible for each project, which made access to the necessary information more difficult.  I   also conducted a thorough double-check of all project documentation for the three-year period. This ensured that all information was current and accurate, allowing for a comprehensive review of the sales verification process. Lessons Learned: On this day, I learned the importance of effective collab...

WEEK 2 Date:  9 September 2024 - 13 September 2024 Day : Monday - Friday Location : DESB, Pasir Gudang Time: 8.30 a.m - 7.00 p.m TASKS OF THE WEEK   Work area at DESB Day 116 ( 9 September 2024) Performing sales verification During the second week of my engagement with DESB, I was assigned to perform sales verification for projects completed by DESB. My primary responsibilities included vouching all relevant documents, such as letters of awards, purchase orders, and variation orders, covering a three-year period from 2022 to 2024. I organized my approach by first familiarizing myself with the necessary documentation for each year. This allowed me to systematically verify each project and confirm that all sales transactions were backed by proper authorizations. Throughout the process, I maintained close communication with my team members to clarify any uncertainties and share findings. Lessons Learned: From this experience, I learned the thoroughness in documentation. In this c...

WEEK 1 Date:  2 September 2024 - 6 September 2024 Day : Monday - Friday Location : DESB, Pasir Gudang Time: 8.30 a.m - 7.00 p.m TASKS OF THE WEEK   Fourth engagement at DESB, Pasir Gudang Day 111 ( 2 September 2024) Assist assistance manager on working paper  For my fourth engagement, I was assigned to join the DESB audit team that consists of 7 team members during September led by Ye Shean. As a new client, we were tasked with auditing the company for a period of three years (2022 to 2024) to ensure financial accountability and accuracy over time. The purpose of auditing three consecutive years was to provide a comprehensive view of the company's financial practices, detect any irregularities, and ensure consistency in reporting. My first task in this engagement was updating the cost cut-off test for subcontractor wages. I started updating the working paper from 2022 and asking the seniors if I found any difficulties on obtains the information from the company's system. ...

  WEEK 5 Date:  26 August 2024 - 30 August 2024 Day : Thursday - Friday Location : BDO Office, Level 18, Menara Zurich & LP Sdn Bhd, Kempas Time: 8.30 a.m - 6.30 p.m TASKS OF THE WEEK   Back to BDO Office Day 106 ( 26 August 2024) Updating  Final Analytical Review I moved on to SKFI and VPM. I continued the analytical review process by comparing their financial results against industry benchmarks and previous years’ performance. This comparative analysis provided valuable insights into how these companies performed relative to their peers, helping to identify areas of concern or opportunity. Lessons Learned: I learned how effective benchmarking against industry standards can illuminate strengths and weaknesses in financial performance. Day 107 (27 August   2024 ) Updating  Final Analytical Review I completed the analytical review for SKSFD and SK Berhad. I learned how effective benchmarking against industry standards can illuminate strengths and we...

   WEEK 4 Date:  19 August 2024 - 23 August 2024 Day : Thursday - Friday Location : BDO Office, Level 18, Menara Zurich Time: 8.30 a.m - 5.30 p.m TASKS OF THE WEEK   Back to BDO Office Day 101 ( 19 August 2024) Updating Revenue and Profit/(Loss) Before Tax Tabs in Consolidation I focused on updating the revenue and profit/(loss) before tax tabs in the consolidation working paper for Sern Kou Resources Berhad. This involved referring to the respective working papers to ensure accuracy in the figures. I meticulously verified the revenue streams and calculated the corresponding profit or loss before tax, making sure to align these numbers with the financial statements of the subsidiaries. Lessons Learned: I learned the importance of meticulousness when updating financial figures, as even minor discrepancies can lead to significant misstatements in consolidated financials. Day 102 (20 August   2024 ) Updating Related Party Transactions and Cross-Checking SOFP  ...

  WEEK 3 Date:  12 August 2024 - 16 August 2024 Day : Thursday - Friday Location : BDO Office, Level 18, Menara Zurich Time: 8.30 a.m - 5.30 p.m TASKS OF THE WEEK   Back to BDO Office Day 96 ( 12 August 2024) Public Holiday - Almarhum Sultan Iskandar Hol Day Day 97 (13 August   2024 ) Extract Internal Audit Report of SKPW Operation and Inventory Management to Excel On this day, I focused on extracting the internal audit report related to the operations and inventory management of SKPW. This involved a comprehensive review of the report to identify critical data points relevant to operational efficiency and inventory control practices. I carefully selected key tables and figures that highlighted aspects such as inventory turnover rates, stock levels, and operational workflows. After capturing these sections, I took screenshots of each relevant table and inserted them into an organized Excel spreadsheet. Each table was labeled appropriately, and I ensured that the...

  WEEK 2 Date:  5 August 2024 - 9 August 2024 Day : Thursday - Friday Location : BDO Office, Level 18, Menara Zurich Time: 8.30 a.m - 5.30 p.m TASKS OF THE WEEK   Back to BDO Office Day 91 ( 5 August 2024) Updating Slow-Moving Inventories I focused on updating the slow-moving inventory records specifically for SKFI. I compared the previous inventory records with the newly updated coding system. This involved checking each item, including raw materials, work in progress, and finished goods, to ensure that the quantities and descriptions matched. I documented slow-moving items and prepared the working paper to reflect these updates. Lessons Learned:  I learned the importance of thoroughness in the initial stages of updating inventory records. Completing this task for SKFI not only reinforced my attention to detail but also highlighted the necessity of maintaining accurate records to support effective inventory management. Day 92 (6  August   2024 ) Updat...

  WEEK 1 Date:  1 August 2024 - 2 August 2024 Day : Thursday - Friday Location : SK Berhad, Muar Time: 8.30 a.m - 5.30 p.m TASKS OF THE WEEK   Last Week at SK Berhad Day 89 ( 1 August 2024) Clearing the Review Point from Manager The next day, I focused on updating Section Q (Revenue) and Section R (Purchase) of the working papers that had been reviewed by the manager. My primary task involved making the necessary amendments in the respective tabs based on the feedback received. This included adjusting figures, refining calculations, and ensuring that all entries were accurate and compliant with the relevant accounting standards. I carefully reviewed each comment and suggestion made by the manager to ensure that my updates addressed all concerns effectively. Attention to detail was crucial during this process, as any discrepancies could impact the overall accuracy of the financial statements. Lessons Learned: Through this experience, I learned the importance of incorporati...

WEEK 5 Date:  29 July 2024 - 31 July 2024 Day : Monday - Wednesday Location : SK Berhad, Muar Time: 8.30 a.m - 7.00 p.m TASKS OF THE WEEK   Alex (Senior) teach on how to find the Bank Acceptance Day 86 ( 29 July 2024) Updating Section R (Purchases) and TOC I focused on updating Section R of the working papers related to purchases for Sern Kou Resources Berhad. I gathered all necessary documentation, ensuring that all purchase transactions were accurately reflected. I vouchered the relevant invoices and purchase orders to confirm that the amounts matched the records. Lessons Learned: This task deepened my understanding of the purchase cycle and emphasized the importance of verifying documentation for financial accuracy. Day 87 ( 30  July  2024 ) Updating Section R (Purchases) and TOC The following day, I updating the Test of Controls (TOC) for SKB while also vouching purchases. I assessed the effectiveness of internal controls over the purchasing process, documenting ...

WEEK 4 Date:  22 July 2024 - 26 July 2024 Day : Monday - Friday Location : SK Berhad Time: 8.30 a.m - 7.00 p.m TASKS OF THE WEEK   Final Audit at SK Berhad, Muar Day 81 ( 22 July 2024) Updating the Income and Expenses Working Paper I shifted my focus to SKPW and SKF. I meticulously cross-checked the recorded expenses against supporting documents, which emphasized the necessity of thorough documentation for accurate financial reporting. Lessons Learned: This day taught me the critical role of thorough documentation in financial reporting. Cross-checking expenses against supporting documents reinforced my attention to detail and highlighted potential discrepancies early. Day 82 ( 23  July  2024 ) Updating the Income and Expenses Working Paper I updated the income and expenses for SKFI and VPM. During this process, I identified some inconsistencies in recorded expenses, reinforcing the need for meticulous attention to detail. Lessons Learned: I learned the value of iden...