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  • Avicola Buzau

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    Sorina Corpaci
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    The document summarizes an audit report of a Romanian poultry company. The audit found that the company's stock increased in value in 2011 without being sold, decreasing its solvency. It also discovered an undeclared long-term bank liability. The audit report recommends the company focus on stock turnover, decrease personnel and bank credits, reinvest profits, and create dividends. The auditor issued a qualified opinion on the company's 2011 financial statements.

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    The document summarizes an audit report of a Romanian poultry company. The audit found that the company's stock increased in value in 2011 without being sold, decreasing its solvency. It also discovered an undeclared long-term bank liability. The audit report recommends the company focus on stock turnover, decrease personnel and bank credits, reinvest profits, and create dividends. The auditor issued a qualified opinion on the company's 2011 financial statements.

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    34 views10 pages

    Avicola Buzau

    Uploaded by

    Sorina Corpaci
    The document summarizes an audit report of a Romanian poultry company. The audit found that the company's stock increased in value in 2011 without being sold, decreasing its solvency. It also discovered an undeclared long-term bank liability. The audit report recommends the company focus on stock turnover, decrease personnel and bank credits, reinvest profits, and create dividends. The auditor issued a qualified opinion on the company's 2011 financial statements.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 10

    DESCRIPTION OF THE COMPANY

    AVICOLA BUZU SA is a Romanian-based company primarily engaged in the poultry farming. The company produces poultry meat and eggs, as well as animal forage.

    THE MAIN ISSUED DISCOVERED IN THE AUDIT REPORT

    Compared to 2010, in 2011 we notice an increase in stocks in value of 3.863.900 RON, meaning that the company did not perform the stock turnover, being forced to supply despite not having sold. Compared to 2010, in 2011 we have a 1.95% decrease of solvability. Because of long-term bank credits taken by 2009, over a ten year period, we noticed a 1.369.256 RON difference, which is an undeclared liability. Some goods were wrongly registered. Goods belonging to public domain or territorial administrative units have not been distinctly highlighted in accounting.

    RECOMANDATIONS

    In order to obtain results, the company should focus on the stock turnover and to sell more. A decrease in personnel Decreased bank credits The profit should be reinvested for buying fixed and current assets Creating more dividends

    Conclusion
    The auditors opinion over the financial situations completed on December 31st 2011 is a qualified opinion. This audit opinion is for the usage of the Public Finances Minister, as well as for the usage of other users.

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