Bulletin AFTAAS

ABOUT US
frizan Tarmili Khairul Azhar (also known as
Aftaas) is a professional firm providing Audit/
Assurance, Tax and Advisory services.
Aftaas is guided by three core values which are:


People Development;
Professionalism; and
Client’s Satisfaction.
AFTAAS SERVICES
Aftaas headquarters located at Kuala Lumpur
and it has five branches. The branches are located all
over Peninsular Malaysia i.e. Shah Alam, Kuantan,
Kota Bharu, Ipoh and Johor Baharu.
The firm was established in June 2001, when
Tarmili Azhar & Co (TAC) merged with Khairul Afrizan Khairudin & Partners (KAKP). The firms each
INTERNATIONAL AFFILIATION
had histories of their own back in late 1990’s.
The establishment of Aftaas was inspired by
one vision; to be recognized as a leading Malaysian
firm providing world class business advisory services
to fulfill all our clients’ business needs.
Whilst, the objective is to provide a platform for
Malaysians to be trained as professional accountants
and excel in their career , providing highest standards
of professional competence and effective business
solutions with excellent services is also our commitment.
Aftaas has recently admitted to the membership of Parker Randall International, based in the UK.
It’s the 21st largest Accounting Firm Association in
the world.
Parker Randall International, through its member
firms, will be able to provide comprehensive assistance to clients to do business in over 40 countries,
with more than 80 offices throughout the world.
PAGE 1
TABLE OF CONTENTS

ABOUT US
1

AUDITORS & FEFECTIVE COMMUNICATION SKILLS
3

THE STANDARD FOR LIMITED ASSURANCE REVIEW ENGAGEMENT
5

BUILDING A SUSTAINABLE & RESILIENT ORGANIZATION
6

DUTY TO FURNISH PARTICULARS OF PAYMENT MADE TO AN AGENTS, DEALERS OR
DISTRIBUTOR
8

MANAGER OF THE MONTH

AFTAAS NATIONAL CONFERENCE & AFTAAS FAMILY DAY

AFTAAS IFTAR & AFTAAS AIDILFITRI

STAFF NEWLY MARRIED
13

SELOKA & SHARING IS CARING CORNER
14

OUR NEW FAMILY
15

COMICS’ TIMES
15

AFTAAS’ OFFICE & QUOTES
16
9
11
12
EDITORIAL BOARD

RAZLY ZAKARIA

ERNIE SHARMILA ABD RAHMAN

NOR ASIAH FARIHA MUHAMMAD

MOHD FIRDAUS SHAH AMAR SHAH

IRA SURIATI CHAIRULLAH

NOR MUNIRA TABARANI

NORFAEIZAH ABU BAKAR

MUHAMMAD HAFIZUDDIN B MD
SHARIF
Accounting and auditing are quantitative fields of study Auditors must be a good interviewer to perform the following;
that usually do not cover areas such as public relations, social psychology, or human communication as major courses.
However, because auditing and accounting are conducted
by human beings, a lack of focus on these areas may be an
oversight. In addition to having the expertise and necessary
skills to perform their duties, auditors should be trained for
another very significant skill- effective communication.
The main objective of developing effective communication skills is to create a common and understandable language for communication between the auditors and the
auditees. A Persian proverb says, “Pleasant language will
bring a snake out of its hole.” Effective communication can
promote confidence and trust between auditors and auditees. Experience has shown that people who consider how
they communicate will achieve their desired results faster
than those who don’t. The latter may find themselves with
complicated and expensive problems that could have been
avoided.
Effective communication skills can give auditors charisma—an attractive personality—and encourage others to
follow them. If one is able to communicate well, it shows that
one is active and useful in one’s personal and social lives. In Clearly, the ability to interview is a communication technique
addition to working with people, auditors also deal with many that auditors must possess if they are to discharge their restatistics, reports, financial books, accounting documents, sponsibilities efficiently and effectively.
and quantitative analyses. Effective communication skills
help auditors to build up the confidence they need to work The Nature of the Audit Interview
effectively and avoid hasty decision making and planning
that are not complete .
The primary objective of an audit interview is determining
The ability to interview is an important communication what the interviewee knows and does not know, and the
skill an auditor must possess. If communications skills are nature and extent of the interviewee’s knowledge.
essential to effective auditing and accounting, and auditing
curricula do not adequately encompass communication Many auditors have a limited understanding of the nature of
skills, it is important to ensure that auditors are adequately the audit interview, believing that it is simply about asking
questions. Understanding what an interview is and is not
trained in interviewing techniques.
helps auditors put interviews in perspective.
PAGE 3
What an Audit Interview Is Not
Interviewee behaviours often have their genesis in the cultural, educational, and experiential differences between
Interviewers must be aware of the hazards that may evolve interviewees and interviewers. Because these behaviours
during an interview. These vulnerabilities can interfere with can influence an interview’s outcome, auditors must recogefficient and effective collection of information.
nize and acknowledge them and be prepared to adapt their
Lectures. Audit interviews become lectures when inter- interview techniques to accommodate them.
viewers lecture an interviewee and ask few questions.
When planning an interview, an auditor must consider all
Interviews also become lectures when interviewees
possible impediments so as to reduce their impact on the
view the interview as an opportunity to lecture auditors.
interview.
Auditors must ensure that the interviewee addresses
the questions raised and does not dominate the audiDetermining Whether an Interviewee Is Being
tors’ time with lectures.
Truthful
Group discussions. Interviews with groups or in the presence of monitors often disintegrate into group discus- Lying or deceitfulness during an interview often occurs besions. It is unwise to interview more than one person at cause interviewees want to shirk responsibility, avoid puna time.
ishment, or garner reward. If an interviewee is being deceitGeneral conversations. Some interviews become general ful during an interview, it can cause him or her some stress,
conversations when they evolve into discussions where which may then precipitate noticeable attempts at evading
the pleasure of intellectual enlightenment or the joy of responses.
discourse is the only result. When interviews become
Indicators of potential deception include the following:
general conversations, little or no useful information
materializes and it’s also costly.
Changes in speech patterns. The interviewee
Interrogations. Interviews resemble interrogations when 
slows down or speeds up responses to certain
the interviewer conveys the impression that the interquestions.
viewee is in custody and his or her presence is involun
Repeating the question. The interviewee repeats
tary. Audit interviews are noncustodial; interviewees
the interviewer’s questions, taking that time to craft
consented or agreed to be interviewed. While an intera deceptive or nonresponsive reply.
viewee generally has the option of not consenting to an

Excuses. The interviewee, feeling the stress of beinterview, some employees, particularly government
ing held accountable, conjures up excuses or begins
employees, may be required to cooperate with an interto blame others.
viewer.

Character testimony. The interviewee suggests
that the interviewer ask the interviewee’s colleagues
Auditors Must Be Aware of Impediments to Effective
to attest to the interviewee’s character, abilities, or
Interviews
truthfulness.

Answering a question with a question. The interAn impediment is anything that interferes with the ability to
conduct an interview and obtain accurate and complete
viewee repeatedly asks questions instead of reinformation. An interviewee’s behavioural reactions during
sponding to the questions asked.
an interview can become impediments and reduce the in- 
Overuse of respect. The interviewee showers the
terview’s productivity.
interviewer with exaggerated and insincere compliments, attempting to gain the interviewer’s favor.

Manipulation. The interviewee, attempting to dissipate stress, plays with objects at hand like pencils, a
tie, a cup, or papers.
PAGE 4
The Standard for Limited Assurance Review The engagement partner must have competence in assurance skills and techniques and financial reporting appropriEngagements
ate to the engagement circumstances. This adds significant
weight to the conclusion and adds a meaningful level of
Small and medium -sized accounting practices are ideassurance.
ally placed to help their SME clients determine what level of
assurance over their financial statements can best meet
their needs, and need to be prepared to respond accord- Review Engagement Procedures
ingly.
The standard requires a practitioner to design inquiry
and
analytical procedures to address all material items in
A review is a limited assurance engagement, which
means it provides a level of assurance between a reason- the financial statements and to focus on areas where mateable assurance engagement and an engagement providing rial misstatements are likely to occur.
no assurance. It was designed not only to provide an effecThe procedures must generate sufficient appropriate
tive and consistent level of limited assurance on financial
evidence
to form the conclusion required by the report. If the
statements, but also to allow for efficient delivery of the service proportionate to the complexity of the statements re- practitioner does not become aware of a possible material
misstatement, then performing inquiry, analytics, and proceviewed.
dures addressing specified circumstances may be sufficient.
SMEs that do not require a statutory audit may still want There is no requirement to do more work.
some degree of independent assurance to increase the
However, a practitioner can perform procedures likes
credibility of their statements, in which case a review can be
observation
or confirmation, at any point in the engagement.
an ideal solution. Additionally, since the work effort involved
in performing a review engagement is generally less than This is a matter of professional judgment.
that in conducting an audit, a review should be a more costAdditional Review Procedures and Reporting
effective option.
When to Conduct a Review Engagement
It may be that, in the practitioner’s professional judgement,
inquiries and analytical procedures either do not provide
sufficient evidence to conclude on the financial statements,
or something has come to the attention of the practitioner
that would indicate the financial statements may be materially misstated.
A practitioner can only perform a review when there is
both a rational purpose and when a review engagement is
appropriate in the circumstances. A rational purpose commonly when a review, as opposed to an audit, will satisfy
legal or regulatory reporting purposes. An engagement withIn these instances, additional procedures must be perout a rational purpose is when there is a significant limitation
in the scope of the practitioner’s work when management formed to resolve the issue. Again, professional judgement
unreasonably restricts the practitioner’s inquiries to speci- in selecting these procedures is critical.
The additional procedures will result in the practitioner eified individuals.
ther:
A review engagement will be considered “appropriate in
the circumstances” when a practitioner believes engage-  concluding that the matter is not likely to cause the fiment risk can be reduced to an acceptable level. A review
nancial statements to be materially misstated; or
may not be appropriate, for complex entities, such as banks  concluding that the matter does cause the financial
or insurance companies, when inquiry and analytical procestatements as a whole to be materially misstated, in
dures alone may not reduce engagement risk sufficiently.
which case the misstatement must be referred to in the
practitioner’s report; or
Requirements
 being unable to draw a conclusion about the likelihood
of a material misstatement, in which case, a scope limiSince a review engagement is intended to provide only
tation must be referred to in the practitioner’s report
limited assurance, a practitioner must comply with the standard requirement.
A review engagement is an important service that provides a meaningful level of assurance, increases the crediSpecifically, the standard requires that:
bility of financial statements, and helps meet the needs of a
changing market.
 Comply with ethical requirements (Code of ethics) and
at least as demanding by ISQC1
 Develop an understanding of the entity and the applicable financial reporting framework, at least in areas required by the standard sufficient to identify areas where
material misstatements are likely to exist; and
 The practitioner must perform inquiry and analytical
procedures on every item material to the financial statements focusing on those where material misstatements
are likely to arise.
PAGE 5
Resilience
Enterprise Risk Management (“ERM”)
“We are living in volatile times. From natural disas- ERM is a structured approach in identifying, assessters to economic crises, political turmoil to climate ing, evaluating & consolidating risks, creating an efchanges, it often feels as if disruption itself has be- fective action plan to mitigate identified risks and
come “the new normal”.
monitoring of action plan & risk status on an onIn this time of turbulence, many people – sci- going basis.
entists, economists, social innovators, civic leaders
and citizens alike – are asking the same basic questions: What causes one system to break down and
another to rebound? Are we merely subject to the
whim of forces beyond our control? Or, in the face of
constant disruption, can we build better shock absorbers – for ourselves, our communities, our economies and our planet as a whole?
The answers to these vital questions are
shaping a new field of inquiry and a new agenda,
focused on resilience: the ability of people communities and systems to maintain their core purpose and
integrity amid unforeseen shocks and surprises. By
encouraging adaptation, agility and co-operation, this
new way of thinking can not only help us to whether
disruptions, but bring us to a different way of being
in, and engaging with the world.
It acts as part of management tools to assists
management in monitoring the environmental
changes impact to an organization as a whole. The
benefits of effective implementation of ERM may
include but not limited to the followings:






Well informed decision making;
Timely/ Quick response to environmental
changes;
Facilitate the extraction of employees intrinsic
knowledge;
Promote accountability through risk ownership concept;
Consolidation of risks at enterprise level
which promote selection of best options; and
Continuous monitoring and alert system.
Failure to implement a comprehensive and
effective risk management process is one of the
reasons identified contributing to the collapse of
giant corporations in year 2008. Organizations
The above-mentioned statements are very should develop a comprehensive risk management
relevant to current business environment. Rapid en- framework comprising of strategic risks, financial
vironmental changes pose a greater challenge for risks, operational risk as well as safety & environtoday’s business leaders. Development of what we mental risks. In other words, no process or division
called as effective shock absorbers in facing con- in a company should be excluded from scrutiny of
stant disruption is no longer a “good to have” acces- risk assessment and evaluation process.
sory for big corporations, but it become a “must
have” management tools for current business environment.
Resilience – Why Things Bounce Back, Andrew
Zolli & Ann Marie Healy
One of many ways to develop the shock absorbers is through Enterprise Risk Management. A
well-developed Risk Management System and effective implementation of the said system helps an organization to be ready in unforeseen circumstances.
PAGE 6
A comprehensive ERM Framework should
at least consist of the following aspects/ 
activities:




Automation of monitoring and reporting process, depending on size of your organization
and/or complexity of your business process.
Effective communication and cultural trans- Aftaas Corporate Advisory Services Sdn Bhd is
mission activities with purposes of creating committed in assisting our clients to build a
risk awareness amongst staff at all level and
“SUSTAINABLE & RESILIENT ORGANISATION”
implanting the “risk culture” in organization;
through the establishment of a comprehensive Risk
Comprehensive and robust Risk Identifica- Management framework as well as value added
tion process through environmental scanning internal audit services. We have experienced pro(SWOT/ PESTLE analysis), business proc- fessionals specialised in providing Risk Advisory
ess analysis & identification of critical suc- Services to serve you in strengthening your risk
cess factors for each process as well as risk management system and improving your business
workshop participated by all key process
processes.
owners;
Setting of clear risk appetite by the Board of
Directors;
5th of June 2013
Development of a comprehensive and spe- Razly Zakaria,
cific Risk Parameters for an organisation. Aftaas Corporate Advisory Services Sdn
This is important as continuous and alert Bhd
system mechanism to facilitate timely detection and response to any changes in environment and/or business limitations & constraints.

Determination of Risk Rating system to be
used in risk evaluation process;

Documentation of full and comprehensive
risk registers consisting of root cause analysis and internal control analysis for each and
every risk identified;

Development of strategies and action plan to
mitigate high risks identified. The plan should
include the estimated financial budget as
well as estimated timeline. It should be monitored and reported on an on-going basis;

Establishment of systematic reporting and
monitoring structure with regards to the implementation of ERM. This include the formation of Risk Management Committee,
Risk Working Committee and an appointment of Risk Officer (if required);

Development and establishment of Risk
Management Manual/ Standard Operating
Policies & Procedures to minimise reliance
on certain individual; and
PAGE 7



With the introduction of the new Section 83A of 
the Income Tax Act 1967 and following the
2012 budget announcement, every company is
required to prepare and provide a copy of Form
CP 58 on any incentives (whether in monetary
form or otherwise) to its agents, dealers or distributors.

Agent, dealer or distributor is defined as :
“Any person who is authorized by a company to
act as its agent, dealer or distributor, and who
receives payment (whether in monetary form or 
otherwise) from the company a r i s i n g
from
sales, transactions or schemes carried out by
him as an agent, dealer or
distributor.”
Form CP 58 only need to be prepared for those recipient above RM5,000 per annum. Besides, value of
non-monetary incentive likes motor vehicle, house or
travel package are based on the cost incurred by the
Company paid for and not the market value of such
items.
It is a responsibility for an agents, dealers or distributors to declare the monetary and non-monetary incentives received during the year in the respective
tax returns for the relevant year.
The original copy of Form CP58 must be retained by
the payer company for a period of seven (7) years
from the end of the calendar year in which the incentive is paid to the agent, dealer or distributor for the
purpose of reference and examination by IRBM.
The form shall be provided to the agent, dealer
and distributor by 31 March in the year immediately following of the year in which payment
was made.
PAGE 8
For Aftaas’s first Bulletin issue, we
will let our readers to know more
about our Senior Manager from Tax
Department, Puan Suriwati Azilah
Abdullah.
Puan Suriwati was graduated from
UiTM, holding a Degree in Accountancy. She is married to Encik Ekhmerizal Bazura Bahari and a
mother of 4 Childrens.
The biggest challenge in her life is
when her first daughter suffered
meningoencephalitis, an inflammation of the brain and meninges. Her
daughter was admitted almost two
months. She was very thankful
She started her career with Khairul when partners allowed her to take a
Azhar & Co. (KAC) in June 1999 as long leave to take care of her
Tax Assistant. During that time, daughter.
KAC’s tax department only have 2
staff. She believe in self-learning As one of a long serving staff at
process is a good method in im- Aftaas, she said that the flexibility of
proving her technical knowledge. the partners and the harmony of
She learn a lot by analyzing study working environment is the key of
and refering to the guideline set by her long last employment with the
the IRB, ask to more experience Firm. She also believe that if we
people and knowledge sharing work with sincerity, passion and full
through networking when internet of responsibility we will get the
and information technology is not a working satisfactory that will give a
common method in obtaining infor- positive impact in our working life.
mation.
As a Senior Manager, she hopes
After 3 years in Tax Department, that everyone in the Firm could
she requested to change from Tax work and support each other, creatto Audit Department for her career
ing more positive and dynamic and
development
and
knowledge
growth. She also once in charge of successful Bumiputera Firm.
liquidation department and oversee
firm’s Finance Department. Her all
rounded experience makes her one
of the most resourceful and helpful
Manager at Aftaas.
PAGE 9
PAGE 10
PAGE 11
PAGE 1
PAGE 13
Assalamualaikum kami ucapkan,
Salam sejahtera handai dan rakan,
Sebuah seloka kami sajikan,
Seloka AFTAAS kami namakan.
Firma AFTAAS diberi nama,
Pemiliknya empat rakan bersaudara,
Punyai visi juga cita-cita,
Untuk melahirkan akauntan bumiputra.
Dari Utara, Timur dan Selatan,
Cawangan AFTAAS telah didirikan,
Berpaksikan urusan memberikan perkhidmatan,
Pelanggan didahulukan kualiti diutamakan.
Audit, Cukai, Perundingan dan Penasihatan,
Antara perkhidmatan jadi tumpuan,
Syariah dan kesetiausahaan juga disediakan,
Bagi memenuhi tuntutan permintaan.
Harap anda tak rasa rugi,
Membaca seloka buletin kami,
Salah dan silap harap dimaafi,
Sekadar untuk menghibur hati.
PAGE 14
ABA






AIN416
LTS417
NIS421
MFJ429
NIF420
MNH425








NUR375
NAJ425


NURUL AIN MOHAMAD AZMAN
LESTRIANA SALEH
NURUL IYAZI SAMSUDDIN
MUHAMMAD FAIZ JAMIL
NUR LILI LIYANA ROMLI
MOHD ASRULNOR HAZRIN AHMAD
SANI
SITI NUR SUHARA SELAMAT
NUR AZHANI JAMIL






AUDIT
AUDIT
AUDIT
AUDIT
AUDIT
AUDIT
ASSISTANT
ASSISTANT
ASSISTANT
ASSISTANT
ASSISTANT
ASSISTANT






14/01/2013
15/01/2013
13/02/2013
02/05/2013
04/02/2013
18/03/2013


AUDIT ASSISTANT
AUDIT ASSISTANT


01/02/2013
18/03/2013
ACAS


MAT422
MHD431






FRW433
RFK431
LYG434
NHD435




MOHD AZRAF B MOHD TARMIZI
MUHAMMAD HAFIZUDDIN B MD
SHARIF
FARRAH WAHIDA MOHD ZIN
RAFI KAMIS
LILYANA GUSMEN
NORHAFIDHAH ARIS


INT.AUDIT ASSISTANT
INT.AUDIT ASSISTANT


18/02/2013
22/04/2013




JUNIOR CONSULTANT
ASSOCIATE DIRECTOR
INT. AUDIT ASSISTANT
INT.AUDIT ASSISTANT




02/05/2013
20/05/2013
01/07/2013
01/07/2013
ADMIN

AZI418

NORAZIEMAH KAMARUDDIN

ACCOUNT ASSISTANT

22/01/2013
“ If God brings you to it,
He will bring you through it.
In Happy moments, praise God.
In Difficult moments, seek God.
In Quiet moments, worship God.
In Painful moments, trust God.”
PAGE 15
Main Office
2, Jalan Rampai Niaga 2
Rampai Business Park
QUOTES
53300 Wilayah Persekutuan Kuala Lumpur
Phone: (603) 4143 9330 | Fax: (603) 4142 9330 |
A Muslim - holds strongly to Islamic principles, but
yet is adaptable to change when applying them in response to contemporary issues and challenges.
Email: [email protected]
A Muslim - is morally and spiritually strengthened to
face the challenges of modern society, especially the
changing economy.
4-04-2, Persint Alami
A Muslim - knows about Islamic history and civilization, and is intellectually equipped to understand Islam and contemporary issues of the Islamic world.
40100 Shah Alam
A Muslim - believes that a good Muslim is also a good
citizen.
A Muslim - is well adjusted to living in a secular state
and multi-religious society, and contributes to global
humanity, including taking leadership roles.
Shah Alam Branch
Pusat Perniagaan Worldwide 2
Seksyen 13
Selangor Darul Ehsan.
Phone: (603) 5518 1300 | Fax: (603) 5518 1200 |
Email: [email protected]
Ipoh Branch
25A, Medan Istana 2
Bandar Ipoh Raya
30000 Ipoh,
A Muslim - is progressive, keeps up with the demands
of modern society and practices Islam beyond rituals
or form.
A Muslim - appreciates the richness of other civilizations, and is self-confident enough to interact with
others and is prepared to learn from them.
Perak Darul Ridzuan
Phone: (605) 242 7179 | Fax: (605) 243 7179 |
Email: [email protected]
Kuantan Branch
B42, Lorong Tun Ismail 8
Sri Dagangan 2
25000 Kuantan
Pahang Darul Makmur.
Phone: (609) 517 8388 | Fax: (609) 515 8098 |
Email: [email protected]
Johor Bahru Branch
2-11, Plaza Larkin Indah
Jalan Datin Halimah
80350 Johor Bharu
Johor Darul Takzim
Phone: (607) 232 4601 | Fax: (607) 232 4601 |
Email: [email protected]
Kota Bharu Branch
Lot 2732A, Wisma Haminah
Jalan To’ Kenali
Kubang Kerian
16150 Kota Bharu
Kelantan Darul Naim.
Phone: (609) 766 7440 | Fax: (609) 766 7442
Email: [email protected]
PAGE 16