Public Audit Business Case: Ismawadee & Co.

Ismawadee & Co. is a public audit firm with a license number of AF 1150. The firm is located at 22A, Jalan Rampai Niaga 2, Rampai Business Park, 53300 Kuala Lumpur. This firm was established on 13th August 1998 as a sole proprietor practice by Mr. Ismawadee Ismail with just a handful of relatively small-sized clients. Year by year, the number of clients keep increase and up until now, there are more than five hundreds of clients required the service from Ismawadee & Co.

The client of Ismawadee & Co. comprises of small and medium-sized companies as well as holding of a company which is a private limited entity. The firm clients are not limited to the company which runs the business in Kuala Lumpur and Selangor only but the clients come from

Professionalism Integrity and objectivity are given priority in delivering their services.

3. Clients’ satisfaction Aftaas take pride in providing quality service to their clients and ensuring their clients’ expectations are exceeded.

2.3. TYPES OF SERVICES

2.3.1 Assurance and Business Advisor The firm focused beyond routine and tax submissions, the services are designed to help the client meet both statutory obligation and to meet business objectives, in an efficient and effective manner, and deliver high-quality assurance on a variety of activities. In a drive to have good audit the seamless services delivery includes, statutory audits, due diligence review, financial investigation financial system compliance audit, profit and cash flow forecast review, preparation of accountant’s report, share valuation, certification of returns to statutory bodies, tax compliance, and advisory, business process outsourcing.

The audit approach is more than mechanical exercise because it is a vehicle for adding value from the audit process and other services to the clients. The firm also focuses on clients internal control results in effective communication with the client on matters of importance and creates true value with insights on business solutions by providing value-added-service. Regardless the services the firm provides to bring independence, and a competence view formed with objectivity, integrity, independence of mind and in the best interest of those entitled to rely

The job vacancy is advertised on any job seeker website and the applicants are required to send their resume either in hard copy or directly emailed to the human resources manager. Once the candidates passed the interviews, they will receive offer letters with the term of three months of probation period before offered as the permanent staffs. Ismawadee & Co also recommends the outstanding performance of trainees continue their careers at Ismawadee & Co. As they understand how the audit process at Ismawadee & Co works, there is no probation period for them. The evaluation of staffs’ performance at Ismawadee & Co was practiced for every six months. The purpose of the staffs’ performance evaluation is for appraisal and promotion for the excellent staff who meet the KPI established by the firm. The staffs will firstly make their performance evaluation and then passed to the superior to be verified. The director will make their evaluations on the subordinates and approved for the appraisal or promotion. Basically, the appraisal or promotion gained from the staff is based on the job performed by them prior to the evaluation period.

Ismawadee & Co also recommends its employees to pursue the professional certificate such as the Association of Chartered Certified Accountants (ACCA), Chartered Institute of Management Accountant (CIMA) and Certified Internal Auditor