AUDIT REPORT
BY:
RESKY PURWONO M.
ANDINI WARAKUSUMA
TIYA SRI WAHYUNI
MELISA RANTE
LAODE RUSLAN
Politeknik Negeri Ujung Pandang
Accounting
Department
2013
A.
PT
United Tractors Tbk
PT United Tractors Tbk (the “Company”) was established in Indonesia on
13 October 1972 under the name of PT Inter Astra Motor Works, based on Deed of
Establishment No. 69 of Djojo Muljadi, S.H. The Deed of Establishment was
approved by the Minister of Justice of the Republic of Indonesia in Decision
Letter No. Y.A.5/34/8 dated 6 February 1973 and was published in State Gazette
No. 31, Supplement No. 281 dated 17 April 1973. The Articles of Association
have been amended from time to time including the amendment that was effected
by Deed No. 25 dated 16 August 2000 of Refizal, S.H., notary in Jakarta, with
respect to the increase in authorized share capital from Rp500 billion to Rp1,500
billion.
The Company commenced commercial operations in 1973. The main
activities of the Company and its subsidiaries (together, the “Group”) include
sales and rental of heavy equipment and related after sales services, mining
and mining contracting. Including in mining contracting is integrated mining
contracting service.
B.
Auditing
1.
Definition of auditing
According to Lawrence R. Dicksee, "an audit is
an examination of accounting records undertaken with a view to establishing
whether they correctly and completely reflect the transactions to which they
relate. In some instances, it may be necessary to ascertain whether the
transactions themselves are supported by authority."
R. K. Mautz defines auditing as being
"concerned with the verification of accounting data, with determining the
accuracy and reliability accounting statement and reports."
2.
Different between auditing and
accounting
The role of accountancy is to
record the transaction in the book of accounts, extraction of trial balance,
preparation of Trading and profit and loss account and balance sheet etc. On the other hand auditing is the examination
of books of account and checking the financial statement for the purpose of
finding out the true and fair position and results of operation of a
concern. Audit is concerned with
detailed examination of the complete accounting records but it does not involve
the preparation of accounts.
Auditing without the prior
existence of accounts is not possible.
When the accountant finishes his work, the auditor starts his work.
3.
Adventage of auditing
a)
Audited accounts are readily accepted in
Government authorities like income Tax Dept., Sales Tax dept., Land Revenue
departments, banks etc.
b)
By auditing the accounts Errors and
frauds can be detected and rectified in time.
c)
Audited accounts carry greater authority
than the accounts which have not been audited.
d)
For obtaining loan from financial
institutions like Banks, LIC, HUDCO, HDFC, IFCI etc., previous years audited
accounts evaluated for determining the capability of returning the loan.
e)
Regular audit of account create fear
among the employees in the accounts department and exercise a great moral
influence on clients staff thereby restraining them from commit frauds and
errors.
C.
Audit
procedure
Audit procedure is the steps that must be executed
in auditing and the
auditor is required by an
assistant so as not to deviate
and be able to work
effectively and efficiently.
Auditor doing audit procedures performed
in order to obtain audit evidence
D.
Auditor’s
opinion
1.
Unqualified opinion
The unqualified opinion has no reservations concerning the financial
statements. This is also known as a clean opinion meaning that the financial
statements appear to be presented fairly.
2. Unqualified
opinion with explanatory language
Certain accounting situations
require auditors to add explanatory language to the standard report. Adding the
additional language is not regarded as a qualification because it does not lessen
the auditors' reporting responsibility. Auditors add explanatory language to an
unqualified opinion to indicate an inconsistency in the application of
accounting principles, to emphasize a matter of particular importance, and to
refer to an uncertainty that could have a material impact on the company's
3.
Qualified opinion
This means that the auditor has taken exception to certain current-period
accounting applications or is unable to establish the potential outcome of a
material uncertainty.
4.
Adverse opinion
This is a type of audit opinion which states that the financial statements
do not fairly present the financial position, results of operations, and
changes in financial position, in conformity with generally accepted accounting
principles.
5.
Disclaimer opinion
This is a special type of audit report that should be issued when the
auditor permits his or her name to be associated with financial statements that
were not examined in accordance with generally accepted auditing standards.
E.
Auditor’s
opinion about financial statement of PT United Tractor Tbk
