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    Megan Media Company Presentation

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    NuruljannatulSyahira
    The document discusses charges against individuals from MMHB related to falsely reporting financial results. It notes amounts that were potentially overreported in MMHB's financial statements and quarterly reports from 2006 to 2007. It also discusses defaults by MMHB subsidiaries on bond payments in 2015 and potential issues with those subsidiaries' receivables and assets.

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    Megan Media Company Presentation

    Uploaded by

    NuruljannatulSyahira
    770 views13 pages
    The document discusses charges against individuals from MMHB related to falsely reporting financial results. It notes amounts that were potentially overreported in MMHB's financial statements and quarterly reports from 2006 to 2007. It also discusses defaults by MMHB subsidiaries on bond payments in 2015 and potential issues with those subsidiaries' receivables and assets.

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    The document discusses charges against individuals from MMHB related to falsely reporting financial results. It notes amounts that were potentially overreported in MMHB's financial statements and quarterly reports from 2006 to 2007. It also discusses defaults by MMHB subsidiaries on bond payments in 2015 and potential issues with those subsidiaries' receivables and assets.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    770 views13 pages

    Megan Media Company Presentation

    Uploaded by

    NuruljannatulSyahira
    The document discusses charges against individuals from MMHB related to falsely reporting financial results. It notes amounts that were potentially overreported in MMHB's financial statements and quarterly reports from 2006 to 2007. It also discusses defaults by MMHB subsidiaries on bond payments in 2015 and potential issues with those subsidiaries' receivables and assets.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 13

    AHMAD ASYRAFF SYAHMI BIN MOHD NASIR

    FAIZ IZZARUDIN BIN SHAMSUDIN


    NURUL ASYIKIN BINTI ABD RAZAK
    NUR ALYAA BINTI MOHD SHOLIHIN
    NURULJANNATUL SYAHIRA BINTI MOHAMAD SUCHAH
    Founder : Tan Sri Dato Mohd Yusof Plastic injection components,
    bin Abdul Rahman, Tan Sri Dato Dr electronic and automotive parts,
    Haji Abdullah bin Abdul Rahman, 3.5 multi-function disk (MF0) and
    and Mr Yeo Wee Siong videotapes and investment holding
    company

    Established in 1994 Subsidiaries : Memory Tech Sdn


    Bhd (MTSB) and MJC (Singapore)
    Pte Ltd
    Registered office located Petaling
    Jaya, Malaysia. External auditor : KPMG
    Mr KH - Charged under section 122B (a)(bb), section
    122C(c) of the Securities Industry Act 1983

    1. RM 1,034.797 million reported in MMHB and its subsidiaries Financial Statements for
    the year ended 30 April 2006
    2. RM 230.365 million reported in MMHBs Quarterly Report on Consolidated Results for
    the financial period ended 31 July 2006
    3. RM 238.134 million reported in MMHBs Quarterly Report on Consolidated Results for
    the financial period ended 31 October 2006
    4. RM 306.15 million reported in MMHBs Quarterly Report on Consolidated Results for
    the financial period ended 31 January 2007

    Mr MA - Charged under section 122B (a)(bb), section


    122(1) of the Securities Industry Act 1983 (SIA)

    RM 306.15 million reported in MMHBs Quarterly Report on Consolidated Results for


    the financial period ended 31 January 2007
    2015
    MTSB & MJC (Singapore) Pte Ltd defaulted RM47 million payments to
    bondholders

    The subsidiaries made a transactions included a RM211 million


    deposit paid for 13 production lines that could be fictitious.

    Where in the results

    The subsidiariess receivable totalling RM334.3mil and the assets


    could potentially fall short by RM456mil.
    PRESSURE OPPORTUNITY

    RATIONALIZATION
    FINANCIAL Having some huge financial difficulty
    Having a huge amount of debt
    PRESSURE Unable to pay their debt on that year

    Fear of losing job


    NON-FINANCIAL Afraid on becoming bankruptcy
    PRESSURE Trying to keep maintain their name and record
    clean
    Know too much
    High position in about company
    organization & company
    operation

    Ability to
    Ability to
    manipulate
    manipulate
    financial
    people
    statement
    INTENTION ;

    Doing for the good purpose, good sake, and


    beneficiary to company

    Want to attract investor to the company

    Solve current financial situation faced by company


    NO !!
    The internal auditor should :

    Supervise Internal Control


    Strengthen the internal control system reduce the risk management
    Advisor
    If there is any significant event that is opposite from standard
    Communicate
    The internal auditor should communicate with the BOD or Audit Committee
    Assurance
    The internal auditor assuring the safeguard of the companys assets
    Implement Internal Controls:

    Segregation of duties
    Proper documentation

    Establishing A Fraud Risk Assessment

    Assists companys management and internal auditors to systematically


    identify where and how fraud may occur.
    key steps:
    Identify relevant fraud risk factors.
    Identify potential fraud schemes and prioritize them.
    Map existing controls to potential fraud schemes and identify gaps.
    Test operating effectiveness of fraud prevention and detection
    controls.
    Document and report of the fraud risk assessment.
    Hire expert help:

    Hire professional accountants and consultants to help the company.

    Treat the employees well:

    Appreciate the workers.


    Provide a training for the employees.

    Perform Regular (and Irregular) Audits:

    Should have regular assessments, but random.


    No uniformity in the revealing of corporate governance practices made
    by financial institutions.

    In the conclusion, Companies in Malaysia should practice ethical


    conduct since a good reputation is valuable not just with customers but
    when trying to hire top talent.

    Illegal conduct can be extremely costly and good governance pays off
    financially.

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