TST: Explanation for audit exception of reviewed consolidated FS

Telecommunication Technical Service Joint Stock Company explained audit exception in reviewed consolidated financial statement of first 06 months of 2013 as follows:

* During auditing and reviewing process, Telecommunication Technical Service Joint Stock Company TST, Auditing and Consulting Co., ltd A&C had exception opinion on figures of HCMC branch at the ending moment of 31/12/2012 and 30/06/2013.

Reason: According to Decision no. 54/QD-TCHC dated 28/01/2013 on appointing staff, Mr. Ngo Van Hiep – Deputy Manager of HCMC branch was dismissed from all titles in HCMC branch from 01/02/2013. Mr. Ngo Van Hiep had responsibility for handing over works to the successor before 08/02/2012.

In fact, Mr. Ngo Van Hiep did not make procedures to hand over to the successor as Mr. Nguyen Hoang Tam and Mr. Hiep did not sign and seal FS 2012 before review so this FS was only signed by Mr. Chu Manh Hung; as well, Mr. Hiep also did not hand over accounting documents and seal. HCMC branch could not finish documents required by the Auditors due to non-cooperation of Mr. Hiep. Currently, there are dissolution decision of the South branch on 26/03/2013 and remaining documents of the South branch for Branch dissolution board to do dissolution activities.

HNX

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