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This excerpt taken from the ROS 20-F filed Jun 30, 2008. Insufficient IFRS skilled accounting and finance personnel The Group did not have sufficiently skilled accounting and finance personnel to appropriately develop, update and consistently and appropriately apply its accounting policies for external reporting 154 under IFRS. Although having increased the number of accounting and finance personnel from 13 to 21 people during the year ended December 31, 2007, the existing team of accounting and finance personnel did not have an appropriate level of knowledge and experience regarding the complexity of the Group's operations, transactions and internal procedures in order to meet the before mentioned objectives. This material weakness resulted in adjustments to several of the Group's significant accounts and disclosures and contributed to other material weaknesses described below. The significant accounts affected included property, plant and equipment, goodwill and other intangible assets, other non-current assets, accounts receivable, allowance for doubtful trade accounts receivable, revenue and bad debt expense. |
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