How to find blocked friend on line? and Unblock them back

I use to block friend in Line and I want to unblock them back. Yes, it might be crazy but I did this.

If you unblock and then uninstall, you might difficult then you just block them without uninstall the line from your phone.

If you are not uninstall, and you ever have communicate with them, you just go to sms and click the profile then unblock.

But if you uninstall line and then install it back. It might be difficult. But those friend ever like your status then it is the good chance for you. Just go to those status and then click their name. So now click unblock.

What is money laundering?

The official definition is Money laundering is the attempt to conceal the origin money by making it look legitimate or 'clean'.

They included three stages
1) Placement which mean introduce illegal money into financial system

2) layering which mean create many layer to make sure the original source of fund could not traceable.

3) Integration which mean integrated those illegal fund into legal fund. 

Advantages and disadvantages of audit committees

The key advantage to an external auditor of having an audit committee is that such a committee of

independent non-executive directors provides the auditor with an independent point of reference other

than the executive directors of the company, in the event of disagreement arising.

Advantage

1. It will lead to increased confidence in the credibility and objectivity of financial reports.
3. By specialising in the problems of financial reporting and thus, to some extent, fulfilling the directors' responsibility in this area, it will allow the executive directors to devote their attention to management.
4. In cases where the interests of the company, the executive directors and the employees conflict, the audit committee might provide an impartial body for the auditors to consult.
5. The internal auditors will be able to report to the audit committee

Disadvantage

1. There may be difficulty selecting sufficient non-executive directors with the necessary competence in auditing matters for the committee to be really effective.
3. The establishment of such a formalised reporting procedure may dissuade the auditors from raising matters of judgement and limit them to reporting only on matters of fact.
4. Costs may be increased.

What are the rule and responsibilities of audit committee?

• To monitor the integrity of the financial statements of a company, and any formal announcements relating to the company's performance, reviewing significant financial reporting judgement contained in them
• To review the company's internal financial controls and, unless expressly addressed by a separate board risk committee composed of independent directors or by the board itself, to review the company's internal control and risk management systems
• To monitor and review the effectiveness of the company's internal audit function
• To make recommendations to the board, for it to put to shareholders for their approval in general meeting, in relation to the appointment, re-appointment and removal of the external auditor and to approve the remuneration and terms of engagement of the external auditor
• To review and monitor the external auditor's independence and objectivity and the effectiveness of the audit process, taking into consideration relevant UK professional and regulatory requirements
• To develop and implement policy on the engagement of the external auditor to supply non audit services, taking into account relevant ethical guidance regarding the provision of non-audit services by the external audit firm and to report to the board, identifying any matters in respect of which it considers that action and improvement is needed and making recommendations as to the steps to be taken
• To report to the Board how it has discharged its responsibilities, including:
• How it has addressed significant issues arising in the financial statements
• How it has assessed the effectiveness of the audit process
• How auditor objectivity and independence is safeguarded, where the auditor provides nonaudit services

What is audit committee?

The detail on corporate governance issues in this chapter is based on UK law and regulations. It is

included as an example of how law and regulations affect the auditor in this area.

International standard setting

International Standards on Auditing (ISAs) are produced by the International Auditing and Assurance
Standards Board (IAASB), a technical standing committee of the International Federation of Accountants (IFAC). You should also be familiar with the International Ethics Standards Board for Accountants (IESBA), another body of IFAC and the producer of the Code of Ethics.

What does forensic accounting mean?

Undertaking a financial investigation in response to a particular event, where the

findings of the investigation may be used as evidence in court or to otherwise help resolve disputes.

What does forensic investigation?

Carried out for civil or criminal cases. These can involve fraud or money
laundering.

What does forensic auditing?

The process of gathering, analysing and reporting on data, in a pre defined context, for the purpose of finding facts and/or evidence in the context of financial/legal disputes and/or irregularities and giving preventative advice in this area.

What does peer review, hot review, and cold review mean?

A peer review is a review of an audit file carried out by another partner in the assurance firm.

A hot review is a peer review carried out before the audit report is signed.

A cold review is a peer review carried out after the audit report is signed.

Firm and leadership responsibilities for quality within the firm

ISQC 1.13

Personnel within the firm responsible for establishing and maintaining the firm's system of quality control shall have an understanding of the entire text of this ISQC, including its application and other explanatory material, to understand its objective and to apply its requirements properly.

ISQC 1.34

The firm shall establish policies and procedures designed to provide it with reasonable assurance that:

- Appropriate consultation takes place on difficult or contentious matters

- Sufficient resources are available to enable appropriate consultation to take place

- The nature and scope of, and conclusions resulting from, such consultations are documented and are    agreed by both the individual seeking consultation and the individual consulted

- Conclusions resulting from consultations are implemented

St-abilities of Khmer Riel

Using Khmer Riel is increasing from year to year. In 2014, Khmer Riel have been used increasingly from last year. According to NBC report.

Khmer Rail use mainly in tax correction which is required Kher Riel for settlement, salary payment to government staff, and other administration payment to government.

The government now try to promote using of Khmer Riel as it believe using of Khmer currency could help to improve economic condition in Cambodia. 

http://www.phnompenhpost.com/business/improved-economic-conditions-help-riel-use

Why ineffective audit committee lead to ineffective board of directors?

The most importance reason that lead to strong board of directors is they get all of the information on time and accurately.

That mean the system of flowing the information from operation to BOD need to be effective and strong. Good audit committee run this job effectively.

If the company have poor audit committee, the internal control of the company will be poor, financial information that flow to BOD might be incorrect or not on time.

Poor audit committee also leave internal and external auditor run carelessly. The independence of this two function might be breached. 

What are ultimate reasons of corporate failure?

It is quite interesting to know what are the ultimate reason of corporate failure. The are many reason which is indicators of business failure and those things might be happen in  your company daily basis but you may not recognize it.

Here is the list of ultimate factors or reason of corporate failure based on my study of performance management paper in ACCA.

The firs one poor business planning: If you note that your company does have the business planning or the business planning does prepare carefully which attached to the currently performance of the company, then this the the factors of failure. You company might perform in the wrong direction to you corporate objective.


The second one of corporate failure is the poor financial planning or it simply called budget. The budget is the tool use to measure the performance of the company or its might also use by BOD to authorize the expenses that allow the executive level for implement. Poor of financial planning mean that the budget doesn't has clear basis of calculation, no controlling purpose, improper link to the corporate planning or objective. The budget might to be easy to perform or too tight to implement.


The  third one is poor marketing: to let your costumer know your product or services, you have to have good marketing program. It might be through campaign or e-marketing. If you does't have good marketing program, your product or service probably soon become small and small in term of marketing share. Marketing program is quite importance in the market currently. Most of the big company now choice e marketing as the strategy for their market penetration. Market penetration refer to increase the marketing share of you existing product.

The last one and I think it is the very importance is poor management. Poor management here what I understand is not only refer to poor executive level, but also poor of BOD.

If the company have poor leadership management like CEO, CFO, or related director, the cost of staff turnover will be high. The company will also face the lost of key staff and remain only inactive staff.

This is very importance to the company success. From my expenses, no productive department have poor leadership manager and no success company have poor management team.

Poor BOD or inactive BOD will let executive run the company freely and carelessly.

The profit for banking sector stood up to 30% in 2014 compared to 2013

According to the news in Phnom Penh Post date 8 May 2015, the profit in the banking sectors in 2014 as increase 30% if compared to 2013.

Leading the pack was Acleda Bank with $82 million in profit, followed by Canadia bank with $61.2 million, $40.1 million for Cambodian Public Bank and $18.6 million for ANZ Royal Bank.

The NBC report shows that the greatest losses came from new entrant Hong Leong Bank, with a loss of $2.28 million, and Cambodia Mekong Bank and Cathay United Bank losing $2.2 million and $1.83 million respectively.

http://www.phnompenhpost.com/business/banking-profits-construction-credit-climbing

The major benefit of target costing

 Targeting cost is the Japaneses Management Style which is now adopt by EU countries. The concept of target costing is the company have to identified  the affordable price for the specific product or service that they are going to sales first than set up the cost.

The concept of target costing is to reduce the cost the large production or in total while the Kaizen costing which is also from Japan, reduce the cost from the small incremental amount.

After the company set up the cost, then the company should compare the cost gap between the set cost and actual cost. It has to work to make sure that gap is close.

Remember, closing gap is doesn't mean reduce the quality.

Soon, Cambodia’s aviation authority will be Audited by UN’s International Civil Aviation Organization

Cambodia’s aviation authority will be audited by Audited by UN’s International Civil Aviation Organization according to Phom Penh Post reported on 7 May 2015.

The main reason is because of Cambodia’s aviation authority lack of regulation.

http://www.phnompenhpost.com/business/sector-sweats-icao-audit

Why group of small companies should set up internal audit department?

I have worked in many local companies in Cambodia and some of those have audit department and some doesn't have.

Some of the group companies installed internal audit departments which is under the Board of Directors and some of them install internal audit department under finance departments.

It quite simple that the public limited companies are required to set up internal audit department under audit committee and board as  it is required by law and best practices. However, the limited company might not required.

How about limited companies which is not require by to set up internal audit department?

In some country, the limited companies are not required to set up internal audit department as set up internal audit department will cost a lot of money. In Cambodia, there are many limited companies which have their subsidiary and the major decision centralize at the group or  management team in the group. 

The group companies might have a lot of work to do and normally they do not have enough time to ensure that all the decision have been follow by its subsidiary. They know the process, policy, or decision that deploy by group companies does not implement unlit the problem raise, or the fraud occur.

To me, installing the small internal audit department which is report to controlling department that control the subsidiary is really importance and its might help the management team in the group company take nape peacefully. 

By theories, internal audit department should not report to finance, CEO or other operating department since its might be conflict with the operation. The reporting line should be BOD or audit committee. The main reason is because of BOD and audit committee is the one who control the executive department like CEO. If the reporting line is to CEO then there will be conflict.

For the group of limited companies do not required audit department, do not have BOD and audit committee, the best way to make sure all of the policies, procedure, operating effectiveness, and fraud that occur in subsidiary companies, small audit team at the group companies should be setting up.