September Journal - 2nd Week

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 case, the importance of complete and organized documentation was reinforced, as it directly impacts the verification process.

Day 117 (10 September 2024)

Performing sales verification

The following day, I collected all relevant documents for 2022, including letters of awards, purchase orders, and variation orders. I organized these documents systematically to ensure easy access during the verification process. I vouch all the relevant data related to the project in the respective working paper.

Lessons Learned:

On this day, I learned the importance of systematic organization when collecting and handling documentation. By categorizing letters of awards, purchase orders, and variation orders, I made the verification process more efficient and streamlined. I also realized that vouching all relevant data in the respective working papers not only helps ensure accuracy but also strengthens the audit trail. This experience emphasized the value of thorough preparation and meticulous documentation, which are essential for effective audits and ultimately contribute to better financial accountability.

Day 118 (11 September 2024)

Execution and performing audit working paper

I shifted my focus to 2023, gathering all necessary documentation for that year. This included ensuring that I had all letters of awards, purchase orders, and variation orders relevant to the sales transactions.  I meticulously vouchered each sales transaction, confirming that they were correctly recorded and supported by the necessary documentation.

Lessons Learned:

During this activity, I learned the importance of maintaining focus and organization when transitioning between years of data. Gathering all necessary documentation for 2023 helped me develop a more efficient workflow, as I was able to apply the systems I created for 2022. This experience taught me that being proactive in collecting and organizing documents not only saves time but also reduces the likelihood of missing critical information.

Day 119 (12 September 2024)

Execution and performing audit working paper

I began collecting documentation for 2024 from the company's system, ensuring I had all relevant letters of awards, purchase orders, and variation orders. I cross-checked the documentation against the financial records, ensuring accuracy and consistency in the reporting of sales.

Lessons Learned:

Reflecting on my experiences from 2022 and 2023 helped me identify best practices to implement in my work for 2024, demonstrating the importance of continuous improvement.

Day 120 (13 September 2024)

Execution and performing audit working paper

I encountered challenges as some variation orders were not uploaded in the company's system. I compiled all the required data and sent a request via email to the subcontract manager, Ms. Laili, to address this issue. Additionally, I double-checked all subcontract sales and raised concerns with the senior in charge regarding discrepancies between the budgeted amounts and the documents provided.

Lessons Learned:

On this day, I learned the importance of thoroughness in verifying documentation, particularly when faced with incomplete information. The experience underscored the necessity of double-checking all subcontract sales to identify any discrepancies early in the process. I also recognized the value of proactive communication, as reaching out to Ms. Laili for missing variation orders was essential in maintaining workflow. Furthermore, raising concerns about budget discrepancies with the senior in charge reinforced the significance of transparency and collaboration in resolving issues.