August Journal - 1st Week

 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 incorporating feedback constructively and promptly. Understanding the rationale behind the manager’s comments not only improved the quality of my work but also enhanced my learning. This task emphasized the need for meticulousness in financial reporting and reinforced my skills in revising and refining working papers to ensure clarity and accuracy. Additionally, it deepened my appreciation for the collaborative nature of the audit process, as constructive feedback plays a vital role in achieving high-quality outcomes.

Day 90 (2  August 2024)

Updating TOC and Bank Acceptance

On the last day, I focused on updating the Test of Controls (TOC) for SKFI. I diligently reviewed the document, ensuring that all relevant dates were accurate and consistent after the senior in charge, Jiawen, had completed her review.

Additionally, I presented the bank acceptance samples in the income working paper for both VPM and ST. This involved verifying the samples against the relevant documentation to ensure that all entries were supported and properly recorded.

Lessons Learned:

This final task reinforced the importance of thoroughness and attention to detail in the auditing process. By double-checking the TOC and ensuring that the bank acceptance samples were accurately presented, I learned how vital it is to maintain a high standard of accuracy in documentation. This experience also highlighted the significance of clear communication when presenting findings to team members, as it fosters understanding and collaboration. Ultimately, it underscored the value of diligence and precision in achieving reliable audit outcomes.