To the Shareholders and Board of Directors of Moldindconbank S.A. 38, Armeneasca Str. Chisinau Republic of Moldova
Independent Auditors' Raport
We have audited the accompanying balance sheet of Moldindconbank S.A. as at December 31, 2000 and 1999, and the related profit and loss acconts and cash flows statements for the years then ended. These financial statements are the responsibility of the Bank’s management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audits in accordance with the international standards on auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, the evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to in the opening paragraph present fairly, in all material respects, the financial position of Moldindconbank SA as at December 31, 2000 and 1999, and the results of its operations and its cash flows for the years then ended in conformity with the international accounting standards.
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