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Crowe Horwath Chartered Accountants

Inter-State Secretax Services Sdn Bhd

Acknowledgement
During this past 5 months I have been undergo a practical training in Crowe Horwath Co.
located in 1st & 2nd floor, Faradale Garden, Jalan Bulan Sabit, Miri. The main purpose for this
practical training is to allow student to apply theories and concepts learnt at the university to the
workplace. Through this experience, expose student and giving a chance to the student to
experience them in the real situation of working especially in the accounting field.
Here, I would like to give a special thanks to the people who are helping me in this
practical training. First and foremost, I would like to thank the Faculty of Accountancy, Mara
University of Technology (UiTM) for giving me the opportunity to undergo a practical training at
this company. Other than that, I would like to thank Miss Zahrah Hj Sirat, the practical training
co-ordinator for Bachelor of Accountancy (AC220) for her guidance and advices before and
during the training period.
Then, I would like to thank my family for being always beside me and support me
physically and mentally during this period. Also to my friends that always shares their
experience about this practical training.
I am also grateful that my supervisor, Miss Kho, who has been supported and always took
her time to guide me throughout this training period and also to Mr Sim one of the partner in the
Crowe Horwath for giving me an opportunity to have my practical training in their company. The
supervision and experience they gave truly help the progression and smoothness of my training
programme. Their co-operation is much indeed appreciated.
Last but not least, I would like to thank the staff at Crowe Horwath Co. especially to my
team member under Miss Khos group for assisting and sharing their knowledge with me
throughout my training period without any difficulties and they really made me felt welcomed
here with their warm hospitality.

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Crowe Horwath Chartered Accountants


Inter-State Secretax Services Sdn Bhd

Introduction
Crowe Horwath Co. is the 5th largest accounting firm in Malaysia and a member of
Crowe Horwath international. Crowe Horwath associated to over 167 member firms and having
650 offices around the world and in Malaysia, Crowe Horwath represented in 12 locations and
offices with over 850 partners and staff serving more than 10,000 clients nationwide. Their
clients comprises from mid to large private, publically listed and multinational companies in
various industries.
Crowe Horwath Malaysia is registered with Malaysias accounting Oversight Board
(AOB) and the Public Company Accounting Oversight Board (PCAOB), US. Besides that,
Crowe Horwath has been a top 4 accounting firm involved in the highest number of initial public
offerings (IPOs) since year 2005. Crowe Horwath currently is managed by a strong team of 52
partners, principals and directors, of which 26 are partners with audit licenses. Crowe Horwath is
the leading firm of choice for the fast growing businesses that are looking for high quality, a
market driven approach and personalized service.
Crowe Horwath, Miri is one of the branches in Malaysia that is where I have been
training now. This firm is located in 1st & 2nd Floor, Lot 2941 & 2942, Faradale Garden, Jalan
Bulan Sabit, 98000 Miri, Sarawak which having more than 50 staff that are divided into 4 main
department which are Accounting, Auditing Bookeeping and Taxation. On top of that, this firm
was being well managed by 2 senior partners which are Mr Matthew Wong and Thomas Yeu and
one junior partner Mr Sim.
Apart from that, Crowe Horwath in Sarawak always looks forward in enhancing their
services to the client effectively and productively. Their effort can be proved when they decided
to merge a synergistic move with Tan Jin Kok Company that will officially take effect on January
2014. One of the partner, Mr Matthew said that, this merger is believed will be enhancing their
services to the clients of their enlarged firm.

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Crowe Horwath Chartered Accountants


Inter-State Secretax Services Sdn Bhd

Personal experience in training


For these past 6 month that I have gone through during this training program, it gives me
a lot of new experience in working as an auditor. As a practical trainee, I was given an
opportunity to feel it myself on what actually an auditors responsibility in auditing the
companys financial statement and account.
The first task that I have to do is filing a clients document or letter that related to an audit
in the audit files. The document that I have to file such as bank confirmation balance, cash and
cash balances, permanent file, receivable confirmation balances, creditor confirmation balances
and so on. What I have to do from this task is I have to find the clients audit file and file the
entire document related to the audit file by follow the item code and put it back to the original
position.
Then, the second task is doing a permanent file. The Permanent file will be file in the
audit file as a reference. Besides, permanent file are usually used in the audit process such as
when do a statutory record for client if there is any changes in the authorized share capital or
issue of share. This task requires me to take a secretary file and tax file of the client and scan the
related document and form such as the latest date of Form 24, Form 44, Form 49, Form 9, Form
11, Form 13, latest Annual Return and Financial Statement, Notice and minutes and Directors
Resolution. The scanning document or form will be filled in the audit file and also can be used as
a reference to fill up the statutory record.
Next task, I have to complete a statutory record. This is one of the audits working paper.
The purpose of a statutory record is to make a confirmation on any changes in shareholder or any
related information regarding the clients company. This statutory record work is done by first
getting the secretarial file and taxation file. Based on the secretarial file, I will record an
information in the current and last year annual return information that are needed in the statutory
record such as if there are any changes in the authorized share capital and issue of shares,
director, manager, company secretary and also the shareholder during the year.

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Crowe Horwath Chartered Accountants


Inter-State Secretax Services Sdn Bhd

Also, the date of notice and minutes of annual general meeting and any resolution made
by the director on the emoluments or PPE also used in the statutory record. Last but not least,
Form 11(Notice of resolution) and Form 44 if there is any changes in the address of company. All
of this information will be then recorded in the statutory record and will be sent to the clients.
Apart from that, I also fill up the company secretary information that is used to confirm
the minutes of meeting and retirement of director to the clients company. From this task, I will
have to fill up the latest date of the notice and minute of meeting, annual return, directors
circular resolution and also article of MOA and AOA regarding the retirement of the director.
The letter will be sent to the client as for confirmation of minute and the retirement of director.
This letter will be signed by the company secretary.
Furthermore, I also perform a vouching work. This was usually done on the expenses
account and cost of sales account. This task are actually based on the audit sampling which can
be defined as the testing of less that 100% of the items within a population to obtain and evaluate
evidence about some characteristic of that population, in order to form a conclusion concerning
the population.
From the audit process, the first thing is I need to cast check the total amount in the
expenses account whether the amount tally with the ledger given. Then from the ledger, I will
choose any sample from the ledger to be vouched. Usually I will take 4-5 samples for every
account and from the sample I will vouched the sample based on the supporting document that I
can get from the payment voucher, journal voucher, petty cash voucher, bank statement and so
on. After vouching process, I will scan some of the supporting document as evidence on my
vouching work. Apart from that, I need to make sure that whether the expenses item are allowed
or disallowed for tax. This is because some expenses involved are not for business purpose, that
is why vouching work are important in the audit process.

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Crowe Horwath Chartered Accountants


Inter-State Secretax Services Sdn Bhd

Last but not least, I also do a substantive transaction test on the Sales, Purchases and
Revenue of the company. It is one of the working papers from the revenue cycle. The substantive
transaction test is to obtain a reasonable assurance that the accounting records are accurate and
reliable. This is done by first set the basic of selection based on the account and vouched the
sample. The vouching process are include comparing and recalculate the amount in the ledger
account with the invoice, delivery note and good received note whether there is no misstatement
in calculation on the item and amount. The selection of the sample usually performed with 10
samples with the amount which are over than RM 5,000.00.

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Crowe Horwath Chartered Accountants


Inter-State Secretax Services Sdn Bhd

Strength of Practical Training


Generally, this practical training programmed has gives many benefits to me as a student
in many ways such as in improving my skill of communication and work, learned on how to
apply theoretical knowledge into the work environment, and gain a necessary skills of work for
me through the working environment.
First and foremost, improving skill of communication and work in a way of communicate
with the client as well as using the auditing system in the scope of audit work. This company
gives me a chance to learn on how to communicate well with the client such as what are we
going to do if there is a problem regarding the companys supporting document or ledger and
how we communicate with the client regarding the problem matter. Besides, this company also
gives me an opportunity to learn their system in auditing that they used which is Pro System
Engagement. Therefore, it gives me a lot of new things that I can learn through this training
process that are very important for me in my working environment.
Besides, by this practical training we as a student can apply what we have learned into
this practical training. This training help student in applying their theoretical knowledge in
auditing such as regarding the share capital, issuance of share, add back expenses and others.
This is very useful when we are exposed to this working experience since we are deal with
companys account and activities because we need to apply our knowledge into practical solution
to solve problem during auditing.
Last but not least, as I can improve my skill of communication and work as a well as
applied my knowledge through this working experience the most importantly is I can gain a
necessary skill that we need as an auditor from this training. From this training what I can see
that, as an auditor it not an easy job to do. In such a way we need to have a higher confident level
and always gives effort in any job that we assigned to at the same time we have to always
maintain our role and responsibility when auditing clients account. Every auditor has their own
skill and ability in doing their audit work and I also need to have that ability and skill for me to
success in my real working later.

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Crowe Horwath Chartered Accountants


Inter-State Secretax Services Sdn Bhd

Therefore, this practical training programmed really good to the fresh student who does
not have any experience in working. Apart from that, it might as well inspired student to become
successful person in life as they have learned on how hard to achieve a career goal.
Conclusion
Generally, from this training program, I realize that in working field there are many
important thing that we have to take a consideration. First and foremost, our confident level is
important in order to encourage our self in work as an auditor. This is because when we lack of
confident level, we will have a problem in auditing clients financial statement if there is any
misstatement in the account and it will give effect to the clients loyalty.
Next is on how to work well in a team member. In Crowe Horwath, they are using a team
system, and each of the team has their team leader. This is such a good way to solve any problem
in auditing clients financial statement. As a team member, we have to work in effectiveness and
efficient in order to reach into a good decision making. Besides, we need to discuss all the
problem matter, our planning in auditing, and dividing our job fairly.
The most important thing is our motivation. As an auditor, it really does not an easy job
to do. This is because it will require us to sacrifice our personal life when there are many paper
works to do especially when it comes to peak season. That is why we have to always
continuously be motivated so that we can overcome any barrier that comes when we do our job
and our responsibility as an auditor.
As a conclusion, it is clear that training programmed gives a lot of superiority to student
in increasing their knowledge experience in accounting especially in the scope of auditing in
working environment. Therefore, this training programmed should be continuously being
organized to the accounting student.

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