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PVA: Explanation for adverse opinion of the Auditor and the difference before and after audit
On 07/4/2014, PetroVietnam Nghe An
Construction Joint Stock Company announced explanation for adverse opinion of
the Auditor and the difference before and after audit as follows:
Adverse opinion of the Auditor
- Did not extract enough provision for
long-term financial investment discount:
Reason was that Management Board saw
that this was the long-term investment and had no intention to withdraw capital
in the coming time.
- The Company did not record enough
expenses relating to production business in 2013 with value of VND
28,473,334,455:
Reason: From 2011 on, banks tightened
credit, the Government tightened public expenditure, there was no new
construction so some expenses relating to construction were temporarily not
allocated.
Difference of business performance before
and after audit
- Business performance of 2013 before
audit: VND
-2,064,330,793
- Business performance of 2013 after
audit: VND
1,074,067,764
- Difference: VND
3,138,398,557
Reason:
Some expenses which were not allocated
in this year would be allocated when the construction was continued. HNX
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