Garnet International 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:
The Company has not taken into account the effect of the Accounting Standard 22 for Accounting for Taxes on income for the quarter ended December 31, 2007 which will be provided at the end of the financial year and the same has been disclosed in the Note No. 4 to the unaudited quarterly financial results declared by the Company.
The Company has not taken into account the effect of the Accounting Standard 22 for Accounting for Taxes on income for the quarter ended December 31, 2007 which will be provided at the end of the financial year and the same has been disclosed in the Note No. 4 to the unaudited quarterly financial results declared by the Company.
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