INTERNAL AUDIT REPORT

Malaya Company
Audit of Financial Statements
When Conducted: August 8, 2016 to September 8,
2016
Issue Date: September 9, 2016

Distribution List:
Meguel Malaya, CEO

TABLE OF CONTENTS
I.

Executive Summary

II.

Observations and Recommendations

A. Inappropriate Segregation of Duties
B. Financial Statements Discrepancies
a. Cash and Cash Equivalents
b. Receivables
c. Inventories
d. Marketable Securities
e. Investment in Properties
f. Property, Plant and Equipment
g. Land, Building and Machinery
h. Other Assets
i. Accounts Payable
j. Loans Payable
k. Bonds Payable
l. Sales
m.
Cost of Sales
n. Taxes and Licenses
o. Losses
p. Other Comprehensive Income
q. Treasury Stocks
r. Utilities Expense
s. Supplies Expense
t. Salaries Expense
u. Donation