Indian Oil Corporation Ltd (IOC) has informed that in the limited review report of the Company for the quarter ended June 30, 2007, the Auditors of the Company have made the following observations:
The Auditors have relied on the Managements representation that
(a) Management is carrying out a review on the complete compliance of Accounting Standard-15 (revised) and impact thereof, it any, will be carried out at the year-end.
(b) The testing of assets / cash generating units for the purpose of impairment will be done at the year end and accordingly, the impact thereof will be considered at the year end.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment