2002-07-02
Do the auditors` reports always reflect the real situation in the company? (as per ICLG`s analysis data)

When estimating the quality of the corporate governance, the Institute carries out a thorough analysis of financial risks encountered by investors. In the course of the analysis the Institute’s experts examine in detail the companies’ financial reporting made according to both Russian and international standards, as well as the auditors’ conclusions on said reporting. The Institute carried out a selective examination of bookkeeping and auditor’s conclusions for the period 1998 through 2000 for 30 companies in CORE-rating, and revealed quite significant problems and risks encountered by investors. The results of the examination witness to the fact that an auditor’s position reflected in the auditor’s report, do not always allow an investor to make correct conclusions for the purpose of adopting well-founded decisions. We issue the comparison of the auditors’ reports and real financial risks revealed as a result of the analysis made by the Institute (based on the examination of the companies’ reporting for 2000) Please use Adobe Acrobat Reader to open the document:

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