According to Section 1 of Companies Acta director of a company shall at all time exercise his power for a proper purpose and in good faith in the best interest of the company. Based on the audit findings, the company did not kept their business records properly.
Collateral refers to any property owned by the borrower that can be pledged for security. The assets must be properly recorded and kept in a proper place. However, I do believe Encik Zayed would not agree with this solution because inviting a new shareholder would mean that he Encik zayed delima enterprise have to share his authority with an outsider as a company decision maker.
Audit committee quality, auditor independence, and internal control weaknesses. Although Encik Zayed and Puan Hashimah are the directors of the company, the officers should also support and give opinion in every decisions taken by directors.
I would say that, Delima really need a financial support because generally they had not inject any fund or new capital since they formed the company. In small businesses such as Delima Enterprise, other duties commonly undertaken by company secretaries may include entering into contractual agreements with suppliers and customers and managing office space and property and dealing with personnel administration In regards of the improper documentation and transaction records includes the sales invoice and purchase order, the MYOB programmed was not integrated and several pages of the Account Receivables listing is missing may impact of time consuming and fraud may happened.
As a best practice, the reviewer should be in a supervisory-level position.
Section 1A of CA stated that the director are expected to have knowledge, skill and experience. Assessment and decision making organizational should be restructure enables employees to participate and contribute fresh ideas and support or argue some issues that they feels unease and may lead to a bad performance of the organization.
However, MYOB software is a little slow speed when you have a lot of data to enter.
Although misconceptions abound as to the precise nature and scope of this obligation, a breach of the fiduciary duty could result in grave consequences for both offending board members and the community which he represents.
A budget should be used to plan on the cost that will be incurred in a project. Furthermore, the management should enroll her to a short course designated to improve her work efficiency and effectiveness in any local institutions such as UiTM and Sunway University.
Cik Amy should be send for further training to enhanced her understanding in relation to her job description and competency to perform her job. Improper Organisational Chart The organisational chart was improperly arranged and too few positions with unclear job scope had been added to the chart. Why would a small company or we could say Delima is under the category of Small Medium Enterprise SME company and has just started to expand wanted to take a huge risk by obtaining loan from a commercial bank?
Position and function were not clarified clearly. Yes, there is abused of power and breach of fiduciary duty. The investiture of such trust, confidence and responsibility in the fiduciary bestows upon him, a position of influence and superiority over the person with whose he deals.Enter Deli Essay.
Words Nov 26th, 4 Pages. In this case, directors of Delima Enterprise Sdn Bhd have fiduciary duties to the shareholders and stakeholders of the company.
it can be concluded that Encik Zayed and Puan Hashimah as the directors of the company had breached their fiduciary duty to exercise power in good faith and. A Dilema Enterprise Delima Enterprise was founded in by En Zayed. The main business are trading and supplying related products including manpower supplies to the oil and gas industries.
Later on, the enterprise was incorporated as Delima Enterprise Sendirian Berhad (Sdn. Bhd.). Its shareholders were mainly the directors, Encik Zayed and Puan Hashimah, which they were husband and wife.
Executive Summary Delima Enterprise Sdn Bhd faced a problem when they decided to take up loan from the commercial bank and realized that their company financial statement was not audited for quite a long time - The Delima introduction.
However the real problem detected here is that the transformation of the business type of Delima.
c) Duty to act with reasonable care, skill and diligence Encik Zayed and Puan Hashimah as the director of Delima Enterprise must attend the training for top management. Delima Enterprise was set up by Encik Zayed in - Delima Case Study introduction. It engaged in trading and supplying related products including manpower supplies to the oil and gas industries.
Inthe enterprise was incorporated as Delima Enterprise Sdn. Bhd. Both Encik Zayed and Puan Hashimah (husband and wife) were the two.Download