02-06-2010, 02:16 AM
Dear
If all requirements of section 208 have been fulfilled, the memorandum includes such a clause in objectives, mark up rate is higher than specific and avergae both finance costs of the lender, and all arrangement has fully been disclosed in the financial statements; then,
In my view there is no need to modify auditors' report for any reason.
I have real life examples where such loans were arranged and disbursed.
Just to inform, section 208 is going to be re-phrased and the recommended revised version is too complex.
Regards,
Kamran.
If all requirements of section 208 have been fulfilled, the memorandum includes such a clause in objectives, mark up rate is higher than specific and avergae both finance costs of the lender, and all arrangement has fully been disclosed in the financial statements; then,
In my view there is no need to modify auditors' report for any reason.
I have real life examples where such loans were arranged and disbursed.
Just to inform, section 208 is going to be re-phrased and the recommended revised version is too complex.
Regards,
Kamran.
