KINGFISHER AUDITORS SUGGEST STRONGER INTERNAL AUDIT SYSTEM
New Delhi,India : Auditor alleges company has prepared its financial statements on a 'going concern' basis, despite its net worth having been eroded
The auditors of debt-ridden Kingfisher Airlines have said the air carrier needs to strengthen its internal audit systems and have raised concerns over numerous issues including delayed or no-payment of dues.
Making some serious observations about the books of accounts of Kingfisher, the auditors in their report for 2011-12 have said the company has prepared its financial statements on a 'going concern' basis, despite its net worth having been completely eroded.
09/09/2012 : PTI / Business Standard.
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