Special Audit Finding

Sources of Finding

•  Microfinance has received signification from the donor community. Based upon is potential as a powerful tool for property alleviation. As such, many million of dollar has been spent on promoting microfinance program around the world. For most MFI is very important for the people and enterprise. It can help all them for invest and being a new company or run the business to other country. So that we can say the Microfinance can take easy for our. And we can use the banking system for transfer and Exchange rate. For any function we can take easy to use it. so like that, Deposit service, transfer service, Loan service, Exchange rate service, Trade service, securities service…etc.

For bank there are many major and position function.  It can process good and success depending on part of it. In the bank there are a lot of part that have duty for process bank. There are many type of major so like that: Cleaner, Customer service, Teller, Acceptant, Phone service, International Technology, Operational, Credit officer, specialize credit officer, Bad debt, banker, Auditor(Internal Auditor and External Auditor), …etc. Now I want show about small part say about auditor and it’s duty:

- Completeness this assertion deal with the whether all require disclosure have been included in financial statement. As a example: management assertion that all material transaction with relate parties have been disclosed in the financial statement. 

- Accuracy and Valuation: the accuracy and valuation and allocation assertion deal with the whether financial information is disclosed fairly and at appropriate amount. Management disclosed the amount of unfunded pension obligation and assumption underlying this amount this is an example of this assertion.

- Classification and Understandabilities this assertion relate to the whether amount are appropriately classified in the financial statement and footnote. And whether the balance description and relate disclosure are understandable. For Example, management assertion that the classified the inventories as finished good, work-in-process, and raw material is appropriate, and the disclosure of the method use to value inventories are understandable.

Auditor my use different term to express the management assertion as long as all the aspects are address. The auditor should consider the relevance of each assertion for each significant class of transaction , account balance and presentation and disclosure. Relevant assertion have he meaningful bearing on whether of account is fairly stat and are use to access the risk of material misstatement and the design and performance of audit procedure, For example. Valuation is very large to be a relevant assertion for account receivablec but not for cash. After relevant assertion is like to bed  have been identified, the auditor can be then development.