INDEPENDENT AUDITOR’S REPORT
To the Assembly and Managing Board of ASSOCIATION OF INTERNAL AUDITORS OF MACEDONIA, Skopje (continued)
Opinion
In our opinion, the financial statements present fairly, in all material respects, the financial position of the Association as at December 31, 2013 and of its financial performance for the year then ended in accordance with the Law of accounting for not-for-profit organizations applicable in the Republic of Macedonia.
Other matters
We draw attention to the fact that the Association maintains its books of account and prepares its financial statements in accordance with the Law of accounting for not-for-profit organizations applicable in the Republic of Macedonia according to which is not obliged to prepare and submit a Statement of Changes in Equity and Cash Flow Statement.
| JVK doo, Skopje, Macedonia | |
| Jovica Stojchevski |
Jovica Stojchevski |
| Director |
Certified Auditor |
| Skopje | |
| 25March 2014 |
STATEMENT OF INCOME AND EXPENSES
For the year ended December 31, 2013
(In thousands of Denars)
|
Note |
|
2013 |
|
2012 |
|
| Income | |||||
| Revenue from membership fees |
4 |
194 |
128 |
||
| Revenue from services |
5 |
1.087 |
151 |
||
| Surplus of income over expenses from previous year |
276 |
112 |
|||
|
1.557 |
391 |
||||
|
|
|
|
|||
| Expenses | |||||
| Depreciation |
(3) |
– |
|||
| Material expenses and services |
6 |
(852) |
(114) |
||
|
(855) |
(114) |
||||
| Surplus of income over expenses before taxation |
702 |
277 |
|||
| Income tax |
7 |
(3) |
(1) |
||
| Surplus of income over expenses after taxation |
699 |
|
276 |
||
|
|
|||||
|
|
BALANCE SHEET
At December 31, 2013
(In thousands of Denars)
|
Note |
|
2013 |
|
2012 |
|
| Assets | |||||
| Non-current assets | |||||
| Equipment |
8 |
20 |
23 |
||
| Current assets | |||||
| Inventories |
9 |
4 |
– |
||
| Trade receivables |
10 |
24 |
9 |
||
| Cash and cash equivalents |
11 |
664 |
245 |
||
| Total current assets |
692 |
254 |
|||
| TOTAL ASSETS |
712 |
277 |
|||
| FUND BALANCES | |||||
| Undistributed surplus of income over expenses for next year |
699 |
276 |
|||
| Total fund balances | |||||
| Current liabilities | |||||
| Trade payables |
12 |
11 |
– |
||
| Income tax payable |
2 |
1 |
|||
| Total current liabilities |
13 |
1 |
|||
| TOTAL FUND BALANCES AND LIABILITIES |
712 |
277 |
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