Bombay Burmah Trading Corporation Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:
1. Attention is invited to Note No. 3(ii) regarding charging of VRS expenditure in the quarter ended June 30, 2007 instead of charging of the same on prorate basis.
2. Provision for leave encashment is made on estimated basis considering the actuarial valuation carried out as at the end of the previous financial year. Provision for short term compensation absences in terms of Accounting Standard - 15 (Revised) would be made at the year end. The impact of this adjustment has not been ascertained.
1. Attention is invited to Note No. 3(ii) regarding charging of VRS expenditure in the quarter ended June 30, 2007 instead of charging of the same on prorate basis.
2. Provision for leave encashment is made on estimated basis considering the actuarial valuation carried out as at the end of the previous financial year. Provision for short term compensation absences in terms of Accounting Standard - 15 (Revised) would be made at the year end. The impact of this adjustment has not been ascertained.
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