IT Consultants’ financial report gets objection from auditor
BI Report || BusinessInsider
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Financial report for fiscal 2020-21 of the IT Consultants has come under objection from the auditor of the listed company.
According to Dhaka Stock Exchange (DSE) sources, depreciation charges were not levied on fixed assets (property, plant and equipment) as per Sections 60 and 61 of the International Accounting Standards (IAS) -16.
In addition, in accordance with Sections 97 and 107 of the IAS-38, no amortisation has been done on intangible assets.
The paid-up capital of IT Consultants listed on the stock exchange in 2016 was Tk 128.59 crore. The total number of shares of the company is 128,592,664.
Of this, 51.09 percent of shares are in the ownership of entrepreneurs/directors. Institutional investors hold 20.07 percent, foreign investors 0.01 percent and general investors hold 28.83 percent of shares.