Rank: Elder Joined: 12/7/2012 Posts: 11,935
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Pesa Nane wrote:Quote:Summary Financial Statements The summary financial statements do not contain all the disclosures required by the IFRS and in the manner required by the Kenyan Companies Act, 2015. In addition, the summary directors' remuneration report does not contain all the disclosures required by the Kenyan Companies Act, 2015.
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The report also includes: * A material uncertainty related to going concern section that draws attention to Note 2(f) of the audited consolidated financial statements. Note 2(f) of the audited consolidated financial statements indicates that East African Cables Plc incurred a loss of Ksh. 663 million during the year ended 31 Dec 2017, and as of that date, East Africa Cables Plc's current liabilities exceeded the current assets by Kshs. 1.59 billion. These events or conditions, along with other matters as set forth in Note 2(f) of the audited consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on East Africa Cables Plc's ability to continue as a going concern. Crazy In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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