"The latest payroll for taxes and contribution earnings was made in 2015, referring to earnings for June 2015," reports the HJ1B Mont audit firm.
The auditor also found that the net earnings for December 2017 were paid out in January 2018.
They also stated that OZVS, which emerged from the separation of a once unique railroad, has land property at a value of 11.4 million in its bookkeeping record which was based, in the books, on the split balance sheet formed during the formation of the company.
"In the property list which was given to the auditor, the Railway Transport and the State of Montenegro are registered as owners of the property and not OZVS. Also, these properties were not subject of fair valuation, i.e. they were not estimated fairly in the sense of the MSFI 13 measurement of fair value, in relation to the International Accounting Standards (IAS) 16 of property, plant, and equipment," the report states.
The company, whose executive director is Milorad Vukovic, ended last year with a minus of 608.5 thousand, which is about 120 thousand more than in 2016. At the end of 2017, the total loss of the company amounted to 3.75 million.
Text by Dan, on June 13th, 2018, read more at CdM
