Regulatory Alerts2024-09-26
National Bank of Ethiopia Audited Financial Statements for the Year Ended 30 June 2022
The Audit Service Corporation issued an independent auditor's report on the National Bank of Ethiopia's financial statements for the year ended 30 June 2022, prepared in accordance with International Financial Reporting Standards. The audit opinion is unmodified despite a material uncertainty related to going concern arising from a net operating loss and a negative general reserve balance. Key audit matters included the verification of revenue and expense recognition, while the financial statements disclose total assets of approximately 662.9 billion Ethiopian Birr and total equity of 1.5 billion Birr.
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