Hereby the Company acknowledges an amendment to the title of the Company statement on the annual report for the year 2015, as well as gives the shareholders a notice as follows:
The annual report is drawn up in compliance with the Annual accounts and consolidated annual accounts law, the Law on accounting, the Financial instruments market law, the Regulation 488 of the Cabinet of Ministers “On enforcement regulations of annual accounts law” as of 21.06.2011 of the Republic of Latvia.
There is no such definition as “audited” or “unaudited” annual statement in legal norms mentioned before therefore the use of these words is not appropriate. With reference to these legal norms, the Company statement dated 29.04.2016. is entitled “Annual statement for the year 2015”, at the same time the Company is apologizing to investors over previous incorrect title of the document.
Under legal norms stated, the Annual report of the Company consists of the financial statement, Management report, Statement on management liability and the Report on corporate governance. Due to provisions of these laws, as well as due to the Law on sworn auditors the financial statement is subject to audit (revision) by the independent sworn auditor.
The flow of the audit (revision) embodies following procedures:
- The procedure of the audit (revision), when the content of the financial report and its compliance with the position of the Company is revised by the sworn auditor, as well as annexes and notes to the income statement are amended and augmented.
- The procedure for issuing of the Audit report with the results of the revision done by the auditor.
The integral part of the Audit report is Auditor`s conclusion which pursuant to International Standards on Auditing (ISAs) might be given in two forms as unmodified or modified (when the auditor considers necessary to make a statement by giving a negative notice or without submitting any conclusion under specific circumstances of the enterprise).
The Company confirms that all the procedures of the audit (revision) of the financial statement for the year 2015 are fully satisfied by the sworn auditor and auditor`s report will be released to the public together with the re-publication of the annual report for the year 2015.
Management board
