INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF DESTINI BERHAD - 11 - INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF DESTINI BERHAD (CONT’D) Registration No: 200301030845 (633265-K) (Incorporated in Malaysia) Key Audit Matters (Cont’d) Key Audit Matters How we addressed the key audit matters Impairment on receivables The Group’s receivables amounting to RM99,270,968 representing approximately 38% of the Group’s total assets as at 30 June 2024. The assessment of recoverability of receivables involved judgements and estimation uncertainty in analysing historical trend in bad payment, customer concentration, customer creditworthiness and customer payment terms and adjusted for forward looking macro economic factors. Our audit procedures included, amongst others, the following: • Understood on the procedures of the Group: • the Group’s identification, monitoring and assessment on the impairment of receivables; and • the Group’s basis and justification in making accounting estimates for impairment; • Reviewed the ageing analysis of receivables and testing the reliability thereof; • Reviewed subsequent collections for major receivables and overdue amount; • Made inquiries of management regarding the action plans to recover overdue amounts; • Understood of receivables with significant credit exposures which were significantly overdue or deemed to be in default; and • Evaluated the reasonableness and adequacy of the allowance for impairment recognised for identified exposures. 88 DESTINI BERHAD ANNUAL REPORT 2024
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