Acknowledgement, Company's Background and Internal Control Procedure of Cosway

ACKNOWLEDGEMENT

First of all, thanks to Allah S.W.T for His mercy and guidance in giving us full strength to complete this "Documentation & Review Of Internal Control System" task. Even facing with some difficulties in completing this task, we still managed to complete it. A lot of thanks to our lecturer, for all of her support and guidance in helping us to finish our task that really tested our abilities mentally and physically.

Special appreciation to the Madam Endok Sugek Amboklah from COSWAY Taman Kesidang for giving us permission and great co-operation as long as we have been there for few hours in getting some early view of the real environment in auditing beside of carrying out our tasks.

In addition, grateful acknowledgement to all of our friends who never give up in giving their support to us in all aspects of life. Thank you very much friends, we will never forget all of your kindness.

Thank you.

COMPANY'S BACKGROUND

COSWAY began operations in December 1979, with a simple concept of distributing quality products at highly competitive prices through a unique Network Marketing system. Today, it has grown to become one of Asia's Largest Network Marketing companies. The COSWAY formula has helped thousands of members to achieve tremendous financial success. Here are some facts about COSWAY:

* COSWAY's 5Ps of Marketing - A powerful combination of effective business and marketing strategies.

* Authorised Capital of RM 500 million and a Paid-up Capital of RM 155 million.

* A subsidiary of Berjaya Group, a multinational conglomerate known for its diversified interests.

* Headquartered in Wisma COSWAY with majority ownership of the office space. This 26-storey building is located in the middle of Kuala Lumpur's premier Golden Triangle.

The COSWAY Commitment

To Our People

A commitment to create and provide a caring, enriching and rewarding environment for our members and our employees.

To Our Customers

A commitment to constantly and actively listen to our customer, understand their changing needs and provide them with excellent value-for-money products and services.

INTERNAL CONTROL OBJECTIVES

* Only authorized purchases of goods are made (Authorization)

Executive will only authorized purchase when goods at low stock. If this is not the case then the company will suffer paying for unauthorized purchases will be overstated.

* Only