Report of Fcb Case - 3630 Words

ACC 4291 – Integrated Case Study Case Analysis Report on Flat Cargo Berhad: An Auditor’s Conundrum Group : KHADIJAH Masita bt Abu Bakar 0921714 Arnianty bt Amirbak 0810192 Nik Nur Wahidah bt Nik Zainal Abidin 0928160 ACC 4291 – Integrated Case Study Case Analysis Report on Flat Cargo Berhad: An Auditor’s Conundrum Group : KHADIJAH Masita bt Abu Bakar 0921714 Arnianty bt Amirbak 0810192 Nik Nur Wahidah bt Nik Zainal Abidin 0928160 Synopsis Flat Cargo Berhad (FCB) was a listed air cargo carrier service company which also registered as an investment holding company with several subsidiaries. They are FC Spare Sdn. Bhd, Cargo Management Sdn. Bhd, FCB (SPV), Cargo Air Services Sdn. Bhd and FC Air Ltd. Its primary†¦show more content†¦Almost 1trillion increased from previous year. According to auditor from Kencana Associates, the aircraft purchased by FCB in 2005 was unable to be verified. Long Term debt of FCB increased drastically by RM700 million in 2005 made this company to be listed high gearing company by Rating Agency Malaysia (RAM). In addition, the list of FCS’s Board of Directors comprise majority of non-independent directors which can affect the transparency of the company’s financial statement. According to the general Corporate Governance in Malaysia, the code specifies that the board should have a balance of the executives and non-executives directors. Apart from that, all audit committ ees should be non-executives directors. Data Analysis : Question 1 It is important to realize that the work as an auditor has been created in this world in order to give a fair and view on audited financial statements. A layman who wanted to make an investment will invest based on what auditor said in his report. Thus, if something bad happen in the company later, the reliability of the auditor is the first to be questioned. The effects of FCB’s fraud can be seen from two angles, the effects to the company of FCB and the effects to the audit firm, Kencana Associates. The possible effects of FCB’s fraud is highly can affect its own stakeholders such as the FCB’s shareholders, the customer’s, theShow MoreRelatedFLAT CARGO BERHAD CASE STUDY2085 Words   |  9 PagesAC088445 MOHAMMAD AZWAN BIN BASHIRUN AC088323 MOHD ZUBAIR BIN NOR AZMAN AC086470 NABILAH BINTI SAAD AC088349 SIR AZWAN ABD RASHID INTEGRATED CASE STUDY ACSB 413 INTRODUCTION Company Background 1997 Started operations with 2 aircraft - Boeing 737-200F - Cessna Grand Caravan Operating Primarily -Air cargo carrier Principal activities of FCB Subsidiaries -Air Freight Service and Aircraft Ground handling service 15 September 2001 -Obtained listing in Bursa Malaysia Auditor -Kenyans AssociatesRead MoreWhich Factors Make Advertising Effective?5109 Words   |  21 PagesEUROPEAN BUSINESS SCHOOL LONDON REGENT’S COLLEGE FALL TERM 2012 Which factors make advertising effective? 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Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 2 A Basic Condition †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreTop Ten Advertising Agency in India11316 Words   |  46 Pagesincludes creativity, innovation, clients, case studies, awards, well-thought out leadership and talent. Clients perceive the agency as a resource of ideas which tell the brand’s story to the customer, dealing with market research. In this process, the agency includes innovative ideas. †¢ FCB-Ulka advertising pvt. Ltd:- Head Mr. Anil Kapoor (Managing Director and CEO): FCB, being one of the the top three advertising agencies in the USA, ranks number 10 in the world. 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