EID: Explanation for audit notice in consolidated financial statement of first 06 months of 2014

On 28/08/2014, Hanoi Education Development and Investment Joint Stock Company announced explanation for audit notice in consolidated financial statement of first 06 months of 2014 as follows:

- In 2013, EID bought shares to increase shareholding of EID in Ha Tay Book and Educational Equipment Joint Stock Company to 40.24%; thus, Ha Tay Book and Educational Equipment Joint Stock Company was associated company of EID and financial statement of Ha Tay Book and Educational Equipment Joint Stock Company was consolidated according to equity method with net value of assets on audited balance sheet on 30/06/2014. However, in audited financial statement of Ha Tay Book and Educational Equipment Joint Stock Company, receivables from customers, prepayment of buyers and consigned goods were not compared and confirmed fully. The Company could not assure existence of items above to evaluate influence of this problem to consolidated financial statement.

HNX

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