TAI Industries 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. The Auditors wish to draw the attention to their following observations:
(a) Non ascertainment and non-provision of Deferred Tax Assets / Liabilities as at December 31, 2007.
(b) Value of closing stock is as certified by the management.
2. The Auditors further state that they are unable to offer any comment as to the adequacy of the provisions in respect of the damaged stock as indicated in note no. 2.
1. The Auditors wish to draw the attention to their following observations:
(a) Non ascertainment and non-provision of Deferred Tax Assets / Liabilities as at December 31, 2007.
(b) Value of closing stock is as certified by the management.
2. The Auditors further state that they are unable to offer any comment as to the adequacy of the provisions in respect of the damaged stock as indicated in note no. 2.
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