Read the commenting guidlelines for this blog. Uh-oh, someone has been very naughty here. But they are usually too afraid to refuse to enter such transactions in the books for fear of losing their jobs. As for junior accounting staff, they often know when they see accounting entries or dummy invoices that are false or concocted.
And its pre-tax profit for of RM million may have been inflated by RM million — which means Transmile case study its real bottom line should have been a pre-tax loss of RM million. That refusal should have sent up a wave of red flags. Cooking the books, it would appear.
Auditors rarely refuse to sign the accounts — unless something is seriously, seriously wrong. In FY05, its losses were RM Cooking the books in Malaysia Please help to support this blog if you can. Print So a special audit of Transmile Group has discovered that its revenue for and may have been overstated by over RM million ringgit.
Another common trick involves playing with provisions for doubtful debts and stock losses — or not making enough provisions. The board of Transmile led by the Kuok Group then appointed Moores Rowland Risk Management to conduct a special audit, which uncovered huge discrepancies in the receivables.
The trio then claimed trial to committing the offence at Bursa Malaysia here between Feb 28, and Feb 15, Let me say that again s-l-o-w-l-y: This involves creating fictitious invoices and dummy sales contracts, for instance. When news first emerged that something was amiss at Transmile after the firm failed to submit their audited account before the 30 April deadline, it seemed that the market consensus was that the bottom line was overstated by about RM50 million or so.
In that article, I discussed what accountants and other financial staff could do if ever they faced pressure from their bosses to manipulate the accounts or to put in false entries. The real question we should now ask is: Anyway, this is a piece I wrote a couple of days ago for Asia Times Online — before the preliminary findings of the special audit on Transmile were reported.
Meanwhile, the SC said Shukri and Chin have had their appeal against their sentence dismissed by the Kuala Lumpur High Court yesterday, which during the trial saw 11 witnesses being called by the prosecution, while both of the accused testified when their defence was called.RM million Transmile accounting fraud – how Liong Sik is to assume responsibility as Chairman?
As in the case of Enron, the investigation was swift and effective, and all the high officials of Enron were charged and found guilty, and eventually sent to jail. CASE STUDY (pdf) Upper Township School District, NJ With Routefinder Pro’s bus routing software, adjustments were easy to incorporate - yielding $, in.
Nik Rosnah Wan Abdullah Mohd Zahrain Bin Mohd Nor and Azwan Bin Omar Case Study: Transmile Group Berhad Nik Rosnah Wan Abdullah* Mohd Zahrain Bin Mohd Nor** Azwan Bin Omar*** Abstract Transmile Group Berhad (Transmile), an investment holding company involved in the provision of air freight, aircraft engineering and.
case study about transmile group berhad, an investment holding company involved in the provision of air freight, aircraft engineering and maintenance services.
Cooking the Books: The Case of Malaysian Listed Companies Fathilatul Zakimi Abdul Hamid Rohami Shafie Zaleha Othman Wan Nordin Wan Hussin Faudziah Hanim Fadzil School of Accountancy the case study sample companies.
The analysis and discussion is in Section 4. Finally, the conclusions are presented in the last section. I chose Transmile Group Berhad as my case study regards to its financial scandal in May Was wondering if you know is there any Transmile Group Berhad Investor Relations programme that were resulted to.Download