In the 2023 financial report, RIC Joint Stock Company announced discrepancies in profit after tax between the unaudited and audited figures. Initially reported profit after tax was 10 million USD, which decreased to 8 million USD post-audit. This difference primarily resulted from errors in revenue recognition and unaccounted costs according to accounting regulations. Specifically, some anticipated revenue items had not yet been realized, leading to a downward adjustment in profits. Additionally, certain expenses were inadequately provisioned, directly impacting net profit. RIC has implemented necessary measures to rectify this situation and is committed to improving its accounting processes to ensure accuracy in future financial reporting. The company will also provide further details on expenses and revenue adjustments for shareholders to gain a clearer understanding.
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