Professional Documents
Culture Documents
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Table of contents
1. The Exordium 3 2. The internship4 3. About Haier..5 4. Ariel Vie of the !actor"..11 5. The #nternal Audit $epartment..12 %. &or'in( experience..13
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The Exordium
)In the Name of ALLAH the Compassionate the
Merciful
All the acclamation and admiration is for Almi(ht" Allah the most *erciful+ ,racious and -eneficent+ &ho is entire source of all the 'no led(e and isdom endo ed to man'ind. # offer m" humblest than' from the core of our heart to Hol" .rophet *uhammad /.eace -e 0pon Him1+ ho is fore2er source of (uidance and 'no led(e for the humanit". Praise to Allah, Lord of the creation, the Compassionate, the Merciful, the King of the Judgment da ! Alone"
/Al 3uran1
2 The internship
In this modern age of business, all world class universities require their degree students to obtain practical training in various business entities. This helps the students to obtain practical insights of what they have learned during the studies.
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Haier Pakistan (Private) Limited Internal Audit Department University of the Punjab, Lahore, also requires their practical training. It was a great pleasure for me to be chosen in "aier Pa#istan $Private% Limited for internship program. This opportunity not only did help me in applying my #nowledge gained from the optional paper of &Principles of 'uditing( in the final year of my ). products. ,urther I am e-tremely than#ful to "aier+s .anagement especially "/ and Internal 'udit 0epartments, who provided me an opportunity to see practical side of a such a large .ultinational ompany. om, but this also helped me to understand organi*ational culture of "aier and moreover strong brand loyalty for the "aier+s ommerce !raduates to obtain three months
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3 About Haier
5alient #nformation Haier ,roup
!overnment =wned <>9: $adopted current name in <>>2%, ?ingdao, hina ?ingdao, hina @hang /uiminA hairman and B= Cang .ianmianA President 1u DesongA Eice5 hairman Blectronics, 1hite !oods, ,inancial ;ervices .ajor appliances ;mall appliances ommercial heating and cooling systems onsumer electronics F<G.G billion $2334% 43,333 "aier Blectronics !roup o. $;B"DA <<H>% ?ingdao "aier o. $;;BA H33H>3% www.haier.com
.roducts
G.< "istory
"aierIs history begins long before the actual founding of the company, in <>23Is ?ingdao where a refrigerator factory was built to supply the hinese mar#et. 'fter the <>:> establishment of the PeopleIs /epublic of hina, "aier was then ta#en over and turned into a state5owned enterprise. )y the <>93s, the factory was in debt for over 7C J<.: million and suffered from dilapidated infrastructure, poor management, and lac# of quality controlsK resulting from the planned economic system and relevant policies. Production had slowed to a tric#le, rarely surpassing 93 refrigerators a month, and the factory was close to ban#ruptcy. In desperation, the ?ingdao government turned to a young assistant city5manager, @hang /uimin, responsible for a number of city owned appliance companies. @hang was appointed the managing director of the factory in <>9:.
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of the hinese transliteration of Liebherr $pronounced MLi5bo5hai5erM%. 3in(dao Haier ,roup was further simplified in <>>2 to Haier ,roup, the companyIs current name. The company set out to establish itself as the countryIs leading brand, focusing upon reliability and product quality. 0iversification would also allow "aier to spread out its ris# among various product lines. ;o, in <>>4 "aier bought out its chief rival in ?ingdao, 7ed 5tar Electric Appliance !actor". In <>>6, the company moved into television manufacturing with the acquisition of Huan(shan Electronics ,roup. )y the end of the <>>3s, "aier was the most recogni*ed brand in the country with products ranging from mobile phones to computersK it had also captured a dominant mar#et share in its core white goods division.
'lthough under partial public ownership, "aier is still technically a McollectiveM company, meaning that it is supposed to be owned by its employees. "owever, its actual ownership situation is opaqueK the employees receive no dividends and do not #now how much they own in reality. Interference from officials is also a ris# for ;=BIs li#e "aier. Earious levels of government often try to push their ailing companies upon successful ones, often resulting in failureK "aier was once tal#ed into acquiring a pharmaceutical company, even though it had no prior e-perience or infrastructure in biotechnology. $;ourceA www.wi#ipedia.org the Internet+s largest encyclopedia%
Limited. It is principally engaged in the manufacturing, assembling and sale of Blectrical "ome 'ppliances. "aier Pa#istan $Pvt.% Ltd. is the ;ales O .ar#eting division of the international "aier !roup. The joint venture between /uba !eneral Trading ompany and "aier
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commitment to provide world5class innovative products based on uncompromising quality to the Pa#istani
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I was appointed by the "uman /esource .anager in consultation with 0eputy .anager 'udit $0.'% .r. 7aeem Dadri in the 'udit 0epartment on 'ugust 39, 2336. I started wor#ing from the < st day of my appointment as an internee. ,irst of all I was attached with "afi* Lahangir Dhan $the 'udit B-ecutive% by 0.' who gave me briefing of tas#s normally performed by the internal audit department and informed me about the areas where I was supposed to assist the department. =n the second day of my internship I was introduced with the colleagues in 'udit 0epartment. I found all of them very helpful and cooperative. 0ay after day I continued to visit different 0epartments and collect information according to the schedule and got it verified from the 0.' "aier Pa#istan. .y olleagues wereA D-2 Manager A1*it 3Mr2 4aee5 &a*ri6 H.: H>7
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&or'in( experience
H.< 0ebtor /econciliation H.2 'ccounts /eceivable 'ging H.G )an# /econciliation H.: )ranch B-penses H.4 Lournal Eouchers H.H !ate 'ctivities H.6 ;toc# Ta#ing $Inventory ounts% H.9 Purchase Eouchers H.> Payroll $"PL O "7/% H.<3 =ver Time hec#ing $Logistics%
I wor#ed on the tas#s as mentioned below and the detail of each tas# is also givenA
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%.%
,ate Acti2ities
The first tas# I was given wor#ing on ancel I!P $Inward !at Pass% for the last seven months starting from Lanuary <st to Luly G<st. ancel I!P is a document which is prepared at the gate for the goods which are brought into the factory and the person on the gate ma#e a record of all the items on a paper which is called I!P while ma#ing this document if he ma#es any mista#e he cancels this I!P and send it to the relevant store so it is #nown as a ancel I!P. ,or this purpose I went to the !ate. I collect the data from the gate because I!P is drawn on the gate followed by four copies and then from its four copies they, the gate man, #eep one copy with him and send other three copies to the relevant store after this the store #eeper #eeps two copies in his records and attach them with the relevant documents. Then send the last fourth copy to the 'ccounts department. Then I went to all the stores li#e 'ir conditioner store, /efrigerator store, .icro wave oven store, .ain store, 0eepfree*e store, 1ashing machine store and chec#ed all the I!P+s physically. 'fter all these activities I
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%.@
5toc' Ta'in(
;toc#ing ta#ing which is considered to be an important part of Internal 'udit was done by me during the course of my internship at lest four times. ;toc# ta#e is a process in which the stoc# is counted and reconciled with the report of the relevant department which is prepared through physical counting by them during this process the )in ards are signed and at the end Ledgers are closed. The stoc# ta#e report is also reconciled with the software. This tas# is conducted mostly at the end of the month. .y first stoc# ta#e was conducted with .r. "afi* Lahangir Dhan. 1e went to 'ir onditioner "all for stoc# ta#e. ,irst of all we count the entire stoc# placed in the ware house according to their different models on a particular date while this stoc# ta#e we signed the )in ards as well. 'fter completing the physical counting of stoc# we went to reconcile the stoc# report, prepared by the ware house In5charge, with the software. /ight after this we close the ledgers by reconciling them with the software. This tas# could ta#e a wor#ing day or more.
.tore#
C&D CAB
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If there is any Purchase /eturn then other two documents are prepared which are as followsA 0ebit 7ote $07% =utward !ate Pass $=!P%
'ccounts department receive all the above documents from relevant departments and attach them with the voucher. They also mention the serial numbers of the attached documents in the narration. 1hen the voucher is completed the it is signed by the following personsA Bntered byA Eerified byA hec#ed byA 'pproved byA
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$emandB 9
.urchase <rderB 9 $eli2er" 8hallanB 9 #n ard ,ate .assB 9 ,ate .assB 9 VerificationB 9
;end by Eendor
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3ualit" #nspectionB 9
,oods 7ecei2in( >oteB 9 Bach ;tore Prepare its own serial P !/7 #n2entor" $epartmentB 9 0ocuments than send to Inventory for ;oft 1are Bntry ..8B 9 AccountsB 9
ross hec#, /ejection and 'djustment 7ote.
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&or'in( on .a"roll
The process in which the accounts department ma#es the salary calculation is chec#ed by audit department. This report contains the following data 'ttendance /ecord 7ew joining /ecord /esignation /ecord 0eductions ,ull and ,inal ;ettlement ;alary ;heet
End of report
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