NIS losses in 2008 reached RSD 8bn

The Serbian Oil Industry (NIS) announced that a special Ernst & Young audit determined the company had losses of RSD 8bn (some EUR 84mn) in 2008.

Izvor: Beta

Tuesday, 10.11.2009.

09:41

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The Serbian Oil Industry (NIS) announced that a special Ernst & Young audit determined the company had losses of RSD 8bn (some EUR 84mn) in 2008. The auditing company examined the profit-and-loss statement, statement of accounts, and the report on capital changes, which represent part of NIS's annual financial report for 2008. NIS losses in 2008 reached RSD 8bn Ernst & Young performed the special audit of the financial report according to a recommendation by the government of Serbia, a minority shareholder that used its legal right to hire a new auditor for a special audit of the 2008 financial report. The NIS board of directors decided to use Ernst & Young for the special audit, the press release said. Since early this year, NIS is majority owned by Russia's Gazpromneft.

NIS losses in 2008 reached RSD 8bn

Ernst & Young performed the special audit of the financial report according to a recommendation by the government of Serbia, a minority shareholder that used its legal right to hire a new auditor for a special audit of the 2008 financial report.

The NIS board of directors decided to use Ernst & Young for the special audit, the press release said.

Since early this year, NIS is majority owned by Russia's Gazpromneft.

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