Read thoroughly the given case (Flat Cargo Berhad: An Auditors Conundrum). Assume that you are a consultant and Mr. Chuah Mun Soong wanted a second opinion from you on Flat Cargo Berhad (FCB). Prepare a written report that will answer the following questions:

1. What are the critical issues in this case?
2. What are the possible solutions for the company?
3. What should be the best recommendation to the Audit Committee of FCB?

ANSWERS SHOULD MEET THE REQUIREMENT BELOW:

-Has identified and discussed all the major and minor issues.

- Presentation of case facts related to company information such as type of business, ownership and organisational structure.

-- Presentation of data such as financial data taken from the presented financial statements of the company. The data can be converted into financial ratios.

- Identification alternatives options

- Identification of the criteria for alternative selection

- Evaluation of alternative qualitative /quantitative

; Has evaluated correctly and is in line with the criteria and the facts of the case; used the data creatively to search for information.

-Selection that shows a strong link between analysis and the alternative selected