Performing & Reporting on Due Diligence Audit

Every investment transaction faces different challenges and drivers. Most investors are often faced with this big question on "How can I be sure of my investment decision?" One means of reprieve for many is to have a due diligence audit done before making the crucial decision. Due Diligence is an investigative-review or audit, prior to an investment transaction which confirms that all material facts related to the potential investment are correct. The aim is to reduce the probability of unnecessary harm to either party or entity involved in the transaction.

More often than not, businesses and potential investors turn to financial professionals and/or accounting firms to assist them in conducting a due diligence audit or review. Due diligence encompasses any procedure or steps taken at a client's request to provide assurance or comment regarding assertions made by third parties in financial statements, prospectuses or other offering documents. Due diligence may be carried out in the case of prospective business acquisitions, financing proposals, valuations, or in loss-and-damage claims on behalf of insurance adjusters.

This course is aimed to provide a practical guide on the critical areas in due diligence audit, especially for prospective business acquisitions, which is one of the most common purposes of due diligence audits in Malaysia.

Course Contents:

• The concept of due diligence and main objectives
• International Standards on Review Engagements ("ISRE") - AI2400
• Scope of the engagement/exercise
• Key elements in approaching and performing the exercise
• Crucial areas to pay attention to:
  • Recoverability of assets
  • Contingent liabilities
  • Covenants and restrictions
    • Documentation and work done
    • The due diligence report and opinion rendered
• Practical considerations and problems that may be encountered

Target Audience

Auditors

Financial and business consultants

Accountants

Finance Managers

Investment Analyst

CPD Code:

080516IP1

Speaker's Profile

Mr Ramesh Ruben Louis

Ramesh is an accountant by profession with close to 10 years of working experience. He is a member of the Malaysian Institute of Certified Public Accountants, Malaysian Institute of Accountants as well as a Certified Financial Planner. He started his career in a big 4-audit firm and subsequently moved over to larger medium size audit firms. He also has experience in corporate finance whilst attached to an investment bank. He is currently the Head of Training & Practice Development for a reputable international - affiliated accounting firm in Kuala Lumpur, where he also acts as the firm's Technical Manager.

His experience in auditing ranges from large public listed companies to multinational corporations, government agencies as well as SME's in a spectrum of industries including plantation, property development, manufacturing, trading, IT, shipping, retailing, etc. Besides auditing, Ramesh also has hands-on experience on other corporate exercises such as due diligence, IPO's, issuance of bonds, corporate & debt restructuring and investigative audit. With his vast experience, he now conducts training for audit and other financial professionals to enable them to perform their tasks more effectively.

His training experience includes topics on Auditing Approach, Comprehensive Orientation Program for new audit personnel's, Risk Management & Internal Controls, Going Concern as well as seminars/workshops on practical application of FRS & PERS. Ramesh is also actively involved in improving & updating processes & procedures for an effective practice especially for rendering of assurance services.