3 Months Internship in PKF
Week 1
29/12/2014 (Monday)
During the first day of working, I was full of anticipation and nervous about the working environment and how friendly are the colleague here.
Due to it was my first day to be worked in PKF, so I have departed early from my house and reached office around 7.50a.m. While reaching the office, I was guided by one senior named Wan Jun to the audit department. Once I stepped in the audit department, I was nervous and shocked on the environment here. This was because, I realised most of the staffs here are punctual and I have the gut feeling that the staffs here do not like to waste time as they have the concept that Time is precious. After she had showed me the place that I should sit for this coming three months, she introduced me to other colleagues. I was shy when she introduced me some colleagues but it is hard to introduce all at once. So she asked me to get to know them slowly myself.
After settling down everything, I had been assigned to read Employee Manual, which is related on how employees should behave and obey rules and regulations. I had spent about 3 hours to study and understand this particular manual while waiting my supervisor to assign tasks for me.
At 11.00 am sharp, Chok Sim Lieu who is my supervisor started to assign me casting job which would be assisted by a senior named Elica. I actually quite afraid that I could not handle it well as I was unfamiliar with it. In addition, she just roughly brief me what to do and most of it is I need to explore it myself. However, this casting did not trouble me much as I had friendly colleagues helped and guided me on how to complete it. I was glad and fortune that I could work in this environment as everyone will help out each other and lend me a hand while I was in difficulty and did not hesitate on sharing their experience and knowledge.
At 12.00 pm, it was the lunch hour. I had spent my lunch hour with those colleagues meanwhile enhancing the relationship with them. After lunch break, I continue my job. I did my task till 5pm which is the time I off.
In conclusion, It was my meaningful and interesting day as I have fulfil my time by gaining new audit knowledge and widening my networking skills by making more friends here.
30.12.14 (Tuesday)
This is my second day in PKF. There was nothing special to me as I had been assigned the same task which was casting but been assisted by different senior. The senior that assisted me on the particular day was Jennifer Lai. She is quite friendly and nice people too as she was willing to help me when I faced problem. Although the job has not much difference than what I had done on the first day, it was quite tricky and challenging too. This was because I needed to spend more time on those huge values and check whether those huge numbers making sense or not.
At 1pm, as usual I had my lunch with a group of senior. After that, I continued my job till 5pm.
31.12.2014 (Wednesday)
This is my third day in PKF. It was as usual as the first two days. I had been assigned to complete the casting too. The purpose of casting is to check the variances between the computerized work and manual work. It is a crucial progress as the manual work may contain some inaccurate information due to the human limitation. Thus, I had been advised to do the casting cautiously in order to minimize the error. With the helped of senior who is Jennifer, I manage to complete the whole file within a day.
2.01.2015 (Friday)
This is my fourth day working in PKF. It was a bit special day for me as I finally had a chance to work outside the office. I had been asked to follow a senior who called Elica to client office that is located at Kolombong to do the vouching. Before starting doing the vouching, Elica had guided me and brief me on how to do it as this is my first time. ‘Vouching’ can be categorized as an integral part of audit process. This is because vouching can help the audit department and tax department to identify whether the expenses recorded by the particular company are making sense or not and ensure the company performance is on the right track. While doing the vouching, Elica also hint me to be careful on analyzing the vouching detailed as the detailed information are important for the tax claimed purpose especially the expenses under medical fees, travelling allowance and insurance. Besides that, we had the responsibility on checking and verifying the particular amount recorded by reviewing from the payment voucher and fully supporting documents like invoice or company policy. After the briefing, it was much easier for me to complete the vouching. I had done the vouching till around 3pm. Then, I headed back to the office and continued the casting which was being assisted by Jennifer. Due to this particular company’s casting was in a hurry, the moment I followed Elica out to the client office. Jennifer had helped me completing half of it and the only thing I needed to complete the remaining of them. I had done the casting till the off hours which was 5pm.
Achieve
Week 1
Mon-29.12.14
Week 2
Week 6
Week 7
Week 9
Week 10
Week 11
Week 2
05.01.2015 (Monday)
This is my fifth day working in PKF. On this particular day, I had been assigned to do the compliance and subtantive testing at client office that is located at Kolombong. I went to the client office together with my two seniors. Once reaching the destination, I had been assigned to gather the related file for the sales testing purpose. Before starting the testing job, Elica had brief me about the sales testing. This sales testing is actually for the purpose of explaining and justifying the discrepancies found via analyzing the sales recorded in the book are accurate , valid and not materially overstated or not. After a brief session, I started my testing on U-port Company. By the day, I managed to complete approximately 100 samples of sales testing. This was actually not meeting my own target as this testing is quite time consuming. This is because, I actually need to review pile of documents like payment vouchers, invoices, delivery orders and purchases order to identify whether the description of delivery order is same as the invoice, authorization of payment voucher, acknowledgement of receipt as well as checking whether those expenses had been posted to general ledger or not to complete my sales testing. Thus, I hope my performance will be improved once I am getting more familiar on it.
I had done the compliance testing till the time I off. This is the end of my day. It was a blissful and meaningful day as I gained lots of new auditing knowledge.
06.01.2014 (Tuesday)
This is my sixth day working in PKF. On this particular day, I had departed from the PKF office at 9.00 am to client office, U-port Company, accompany by Elica. Once reaching the destination, I had been assigned to continue yesterday task that was sales testing. I managed to complete around at 1pm lunch hour. Then I had my lunch with Elica. It was an enjoyable moment as she will share me some idea on what benefit can I gain through this sales testing as well as her own working experience. After lunch, I had been assigned to do other testing job that was purchase testing. Purchase testing is actually for the purpose of obtaining reasonable and fairly assurance if the administrative expenses recorded in the book are accurate and valid. By obtaining the reasonable assurance, the risk of material misstatement can be reduced to an acceptable low level. During the moment of doing this testing, I realized it was quite a heavy job as I needed to go through the delivery order, sales invoice, sales voucher, receipt voucher, payment voucher, journal voucher and general ledger. However, I managed to handle it well with the guidance of Elica. Therefore, it considered a successful day for me by the end of the day as I able to accomplish around 80 samplings and hit the target set.
07.01.2014 (Wednesday)
The coverage of my job script on this day was sales testing as well as purchase testing. For the convenience of getting the information, Elica and I had headed to client office again. I did my testing job till 5pm. Then, I directly headed back to home from the client office without turning back to office as the time was 5pm.
08.01.2014 (Thursday)
It was quite a successful day for me as I finally complete all the purchase and sales testing of U-Port Sdn Bhd as well as vouching. Due to the completion of all the tasks regarding U-Port, Elica had informed me that I was not been required to go to the client office, located at Kolombong by next day.
Elica and I had spent around 8 hours to complete all the things. Then, at 5pm, Elica drove me back to the office, Lintas. During the journey back to office, the traffic was congested. Thus, I had drove back home around 6.15pm.
In a nutshell, it was a tiring day for me as I had spent whole day outside the office for rushing the auditing job of U-Port and experienced a heavy jam during the journey back to office from Kolombong as well as the journey from office to my house.
09.01.2014 (Friday)
On this particular day, I had been assigned by Elica to help other senior named Linda to photocopy the documents which was from Year 2002 till 2013 and then arranged them according to the page number. After completing the filing and photocopying, I had been assisted by Wan Jun. Then Wan Jun started to assign me job. For the convenience of vouching to supporting documents like payment vouchers and gathering the information for the purchase testing, Wan Jun and I went to the client office, located at Hilltop. We stayed over the client office till after lunch hour. After lunch, we went back to the office with pile of files. After that, I started to do the purchase testing. My responsibility on doing the purchase testing was to reclassify the purchases into two groups which were non-key item and key item. Key items mean the amount that was over RM2500 while the non-key items were below RM2500. During the moment of reclassifying, I needed to ensure the authorization of payment voucher and acknowledgement of receipt. Thus, the transaction recorded may have minor variances. By the day, I managed to complete around 40 samples.
Week 3
13.01.15 (Tuesday)
It was a challenging day for me as I needed to drive alone and do vouching without Wuang Ching accompanied me. I reached at client office named Demi Cahaya at 9pm. Firstly, I started to ask the staff here where could I gathered those related files like Journal Voucher and Payment Voucher documents. After gathering those files, I started my real task which is detailing the vouching in order to the ease of recording the transaction as well as photocopying the supporting documents like invoices. It was actually quite tired for photocopying those supporting documents as I needed to go thru and down to copy it due to the printer is located quite a distance from my desk. I had actually complete most of the vouching and the remaining part I would be carried onward and continued it by the next day.
Throughout this week, I had been assisted by Wuang Ching and been assigned to perform task at Demi Cerah Corporation Client Office from Monday till Friday. The tasks I had performed during this week were casting, journal voucher testing, sales substantive test and purchase and expenses substantive test. I managed to complete almost all the testing job assigned within the time given. Besides that, I also had a good bonding session with Wuang Ching, Julie and Choki as I normally having my lunch with them. They will share their experiences to me and joking in front of me. It was an enjoyable moments. Additionally, Wuang Ching who assisted me for almost one weeks, had also praised me in from of Choki who is Account Assistant Manager. It was kind of blissful moment for me as it had actually became a motivation for me moving forward.
Week 4
20.01.15 (Tuesday)
I reached office at 8am. Then, I continued my job which could not complete on Monday. A moment later, Julie had assigned me a new task that is casting the workpaper to General Ledger. The purpose of doing this is to minimize the error done by auditor as well as ensure the proper and accurate transaction recorded.
It was a challenging and busy week for me as I had been asked to handle a company’s auditing workpaper by alone. I had been required to complete the audit workpaper of Sincere Cottage by next Monday. It was actually a quite limited time for me to rush out. At first, I actually struggle up when knowing I was going to handle the job by alone as I still unfamiliar with the audit work paper and I had actually only learned more about the testing and casting during those 3 weeks. Fortunately, a senior named Janet had guided me step by step. So I was still able to manage it. Also, I had pick up my courage to ask my colleague who sat beside me who is Jennifer to teach me when facing problem on creating the audit work paper or do not understand about the audit programme. She was not hesitating to offer me a hand and even correcting my job.
Week 5
26.01.2015 till 30.01.2015
During the first three days in this week, I was busy drafting my Sincere Cottage's work paper for the first review by audit assistant manager, namely Chok Sim Liew. She asked me to complete it by this Wednesday. With the helping of Janet, I managed to hand it on time. However, throughout the progress of doing and calculating the audit work paper of Sincere Cottage, I faced some problems like I could not balance the Statement of Cash Flow and I was unclear about the formula of computing the corporate tax as well as computing the term loan reasonable test. Luckily, there was two seniors lend me a hand on teaching me step by step as well as correcting my mistakes. Three days later, I started my second company which was Luxury Everise Sdn Bhd. Firstly, I started by sending out the signing pages, letter of financial support and management letter for the client office's director to authorise those statement before the deadline. Then, I started to gather all the related documents for computing the audit work paper. Due to in hurry, I had overtime working during this week. Besides that, I was quite panic when the manager gave a call to me and offered me to complete this company drafting by this Friday. I scared I unable to complete it on time as I had done some mistakes like misstate the amount due to client office's director and unfamiliar with the sales and purchase agreement. However, I was lucky as the senior who sat beside me, namely Jing Yi offered me a help and even helping me amend my work paper and guide me step by step on creating the trial balance, audit journal adjustment, trade-payables, property, plant and equipment template. In addition, she was also guiding me on filling up the audit statutory through reading the company's minutes and annual return. Therefore, I managed to pass up to the manager for reviewing on time.
In conclusion, it was a hectic working days during this week and I was happy with my achievement on this week.
Week 6
02.02.2015 till 05.02.2015
In this week, I was busy as a bee. I busy correcting the mistakes and amending my Sincere Cottage workpaper. I quite shock and aghast when got a list of around 50 notes that I needed to correct to pass it over to Ms Chok Sim Lieu again. She had urged me to finish as soon as possible as the deadline of the company is around the corner. In the process of correcting the error and analysing the comments status written By Ms Chok, I actually quite tension as I was unclear about the mistakes I did as well as unclear with the categorization of the accounting terms. However, with the helped and guidance of Janet and Jing Yee, I started to catch up little by little. I had totally used three days to complete the job correction.
I cleared the point with Ms Chok on Wednesday evening. But, Ms Chok still unsatisfied with my performance, thus she asked me to complete it all nicely, neatly and redo the mistakes part before passing over to her again. But, I told her; those parts were hard to re-amend as there was lack of client’s supporting documents. The moment waiting for the client to post out the supporting documents to me, Ms Chok has asked me to clear another company points which was Luxury Everise Sdn Bhd. She offered me to complete it latest by this Thursday. I manage to meet her target. I pass up to her by this Thursday before lunch. The reason I managed to complete it by the time she appointed was my friend, Chia Shin offered me a help. Also, Jing Yee who sat beside me helping me out for correcting the mistakes and explaining me the comment status that I hardly understand or unclear about it. Besides that, she was also finding some samples from other colleagues for me to refer. With those sampling refer, my job became much easier.
I managed clear all the points that had pointed out by Ms Chok on Thurday evening. After checking and reviewing by her, she asked me to hand over to boss for getting the approval of issuing the draft. By 6pm, I got the approval from the boss. Thus, without wasting any time, I started preparing the documents to be sent out to client by the next day morning.
06.02.15 (Friday)
As usual, I reached office at 8am in the morning. Then, I started with my Sincere Cottage clearance of points. This was because I had received the supporting documents from my client, Ms Nelly, so that I could continue amending and correcting the workpaper.
At 12pm, it was the lunch hour. My friend and I decided to have a lunch at pork noodles shop. After enjoying my lunch meal, I headed back to office and continued my job.
Two hour later, I got an approval from my client office’s director, namely Ms Kerry Yong to issue the final for the Luxury Everise’s financial statement. Then, I started to photocopy seven sets of the account working paper as two copies will be sent to the client, two copies will give to the tax and audit departments respectively, one copied will be kept by the boss, one copied will be sent to the Duomatic Corporation Services Sdn Bhd and the last copied will be sent out to the SSM before 4pm. Due to in a hurry to rush out the final for SSM before 4pm, Ms Chok had urged me quicken up my step to get the authorization from the boss and got the bank cheque from Duomatic. Also, there was few colleagues lent me a hand on issuing the final. Therefore, I could complete it by around 3pm. After that, I passed to Julie for sending out the SSM copies to SSM for Ms Wong to sign. I actually felt quite bliss as I able to lodge the account before the deadline of 7 February 2015. This was because, if lodge the account after the deadline, the penalty will be charged to the client. This may eventually ruin the company reputation as well as I will be scolded by the boss.
Week 7
09.02.15 (Monday)
As usual, I reached at office at 8am. The manages and the boss normally will held a small meeting on every Monday The purpose of the meeting was to track the performance of all company’s staffs as well as assigned new jobs to the staffs. I had been assigned two new jobs which are the auditing work of Infinity Homes Sdn Bhd and Epoch Builder Sdn Bhd. Both companies are dormant and are newly incorporated. Thus, it was quite challenging task for me as I had no previous examples done by the senior to refer. I began with filling up the statutory audit, minutes and meeting as well as convert the account in order to send the management letter and signing pages of financial statement for the client to authorize.
10.02.15 (Tuesday)
On this day, I had been asked to help out Julie for finding the bills of debtors from the file room. After finishing helping Julie, Choki asked me to help her finding those bills as well. Meanwhile, she was also asking me to photocopy all of the bills after finding out the CMK, CMK Tax and Duomatic billing. I did this job with my friend, Chia Shin. We did till the time we off.
11.02.15 (Wednesday)
On this particular day, I continued my auditing job of Infinity Homes Sdn Bhd till the time I off.
12.02.15 and 13.02.15 (Thursday & Friday)
On this two days, I was busy the points clearance of Sincere Cottage. My responsibility was dealing face to face with audit assistant manager on amending and correcting my work paper for the purpose of issuing the draft before Saturday.
Week 8
16.02.15 and 17.02.15 (Monday & Tuesday)
This is my last two days working before went back to hometown to celebrate Chinese New Year. In these two days, I was rushing my Epoch Builders Sdn Bhd’s work paper in order to pass to the manager or boss for the first review. Thus, I could be in charged for the point clearance and issue draft after the holiday.
Week 9
24.02.15 (Tuesday)
After Chinese New Year holiday, I resumed to my work. I was busy issuing final of Sincere Cottage Sdn Bhd and helping my friend; Chia Shin who had went to client office to issue the draft of Expo Borneo Sdn Bhd for whole morning. After having lunch, I gathered all the files and documents and passed to Catherine to be sent out to client as well as passed some other staffs' file to boss's office. A moment later, I started my real task which has been assigned on this Monday. I began with computing the last year audited figure and transferring the General Leger figures into Excel template of Mentakab Service Station Sdn Bhd. Meanwhile, I also seek helped from others on filling up the template of audit statutory. This was because the allotment of shares capital, the number of shareholdings and the appointment of directors was quite complicated for that company. I did my job till 5.30p.m then left the office.
25.02.2015 (Wednesday)
I was busy with my Mentakab Service Station audit work paper in the morning as well as confirmed the supporting documents to be collected from client by asking the senior around. As I scared of miss out some documents once I went to the client office to photocopy the documents like bank statements, bills, receipts, payment vouchers and so on and vouched the detail of license fee, legal and professional fees and others. I departed to client office, Mentakab Service Station around 1.00p.m. I spent for almost half a hour to reach the destination. I totally spent two hours in here to complete my vouching and photocopying.
26.02.2015 (Thursday)
I was busy with the point clearance of Epoch Builders Sdn Bhd. There was total of 30 points pointed out by Ms Chok to amend before issuing draft to client. During the process of amending and correcting the workpaper, I faced some problems like unfamiliar with the new format of section control sheet, unclear about the related parties as well as there was a need to reclassify some account transaction. I totally spent a day to clear the points with Ms Chok. At 5.30pm, I finally finished the amendment of Epoch Builders' workpaper. Without wasting any time, I passed to the boss for the approval of issuing draft.
27.02.2015 (Friday)
Same as previous day, I was busy with the same job scope. The only different was I had been required to amend and correct the workpaper of another company that is Infinity Homes Sdn Bhd. It was quite easier for me to amend this workpaper as it was almost the same problems with Epoch Builders. Thus, I took approximately 4 hours to complete all the jobs amendment. But, Ms Chok was busy with her project. Therefore, I left the file on her table for her reviewed and checked before I went back to home.
Week 10
2.03.2015 (Monday)
I was busy dealing with Ms Nelly who is the director of Sincere Cottage once I reached office. This was because I needed a confirmation and approval from her on whether she is fine with the draft account of financial statement. After that, I continued with my audit work paper of Mentakab Service Corporation Sdn Bhd. During the progress of computing this workpaper, I actually referred the work paper of Fantastic Vintage which was done by other senior, namely Sook Fen. With this reference, I became much easier to do the audit programme as there was some format been changes. For example, I was required to compute the section control sheet for income statement and balance sheet only for the company which is dormant, but not same as previous time preparing the control sheet for each section or each part of the accounts. I took almost a day to complete whole all of the workpaper of Mentakab. Then, I sent it to Mr Chau for him to decide who was going to review my file.
3.03.2015 (Tuesday)
I was off on this day as I was sick. I had applied sick leave from Ms Sharon. I took a day to rest and went for a doctor. I was been diagnosed with food poisoning.
4.03.2015 and 5.03.2015 (Wednesday and Thursday)
After resting a day, I returned back to my work field. I started off with my Mentakab as the moment I passed it to Ms Chok, she directly pointed out some mistakes I had repeated. Thus, she requested me to amend on the spot. I roughly took three hours to amend the mistakes that she pointed out me directly. Then I passed the file back for her to read and examine the file thoroughly.
6.03.2015 (Friday)
I was busy with the issuance final of Sincere Cottage Sdn Bhd. The first step to issuance the final was requested the account date from the secretary, then followed by preparing the letter of issuance final audited report for Mr Chau to sign off as well as preparing seven copies of audited report for Mr Chau to sign before sending two copies to CCM, two copies to clients and the remaining three copies will be filing by tax department and audit department respectively. I took approximately three hours to settle all of the issuance final job. After the lunch hour, I began with another company auditing job, namely, Golden Pump Sdn Bhd. I did till the time I off. At 5pm, I went back to home.
Week 11
9.03.2015 and 10.03.2015 (Monday and Tuesday)
On these two days, I was busy with the issuance final of Epoch Builders as well as the auditing workpaper of Golden Pump. I manage to complete the Golden Pump's workpaper for the manager to review. So that, she can amend and list out the mistakes of my jobs before I end my internship on this Friday.
11.03.2015 and 12.03.2015 (Wednesday and Thursday)
I was busy finalizing the audit report of Infinity Homes Sdn Bhd as well as the point clearance of audit fieldwork of Mentakab Service Station. I took almost a day to correct the mistake and amend the workpaper under review of Ms Chok.
13.05.2015 (Friday)
It was my last day working in this firm. I was full of anticipation to end my internship as I finally can have a good rest after busy working for two and a half month. Due to it was my last day in this firm, so Ms Chok and other colleague had invited me for a lunch. They treat me a feast before I left this firm.
Ms Chok who is my supervisor had instructed me to do the point clearance of Golden Pump and ensure the draft account of Mentakab Service Station had been sent out to client before I left at 5pm. Besides that, she also asked me to inform one of the senior to follow up the job that I unable to finish up until the finalizing of audit report as well as asked me to clear up the table and drawer things. Thus, it will be an ease for them to make an arrangement for the new staff. Also, I had been informed to return back the access card and laptop as well as collect the salary cheque before leaving the office.
