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ASSURANCE AND NON-ASSURANCE SERVICES - Coggle Diagram
ASSURANCE AND NON-ASSURANCE SERVICES
Consultation
study for new location for business
develop internal control procedures for the clients
development of new product
venture into new business
acquisition of a company
operational improvement, cost reduction, process flow improvement
consultancy in public offering of stock
Taxation
advice client on new changes and new incentives
tax planning
complication of return
Form C and tax computation
Form R (information about section 108 tax balance)
CP204
Form E and EA (for employer and employee)
Secretarial Services
deregistration of company
winding up company
incorporation of new company
maintenance of statutory books and registers
provide secretarial services to clients
filling statutory forms and return to CCM and other regulatory authorities
attend meeting and preparation of minutesa
advice client on matter pertaining to the secretarial
Accounting
analyze financial information and compare to budget, previous year and for unfavorable differences, provide explanation for management decision
monthly basis or yearly basis or quarterly basis
assist in preparing payroll calculation
Review of Financial forecast and projection
highky subjective and can be in form of forecast, projection or a combination or both
financial forecasts means prospective financial information prepared to the best of responsible party's knowledge and believe, an entity expected financial position, result of operation and cash flow
means financial information based on assumptions about events that may occur in future events and possible actions of an entity
financial projections means prospective financial information prepared to the best of responsible party's knowledge and believe, give one or more hypothetical assumptions, an entity expected financial position, result of operation and cash flow
Purpose of Prospective financial statements
general use to include in a prospectus in relation to initial public offering
limited use as an internal management toll
What auditor should consider before accept engagement in review of financial forecast and projection
whether information will be general or limited distributions
nature of assumptions that is best-estimate or hypothetical assumptions
intended use of information for IPO and loan facility
period covered by the information
ensure competency in undertaking task and client business