Adjustments on 2020's audited FS according to State audit's opinion
On 26/01/2022, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) received the dispatch No.57/KTNN-TH dated 14/01/2022 of the State Audit of Vietnam regarding sending the auditing report of VietinBank’s 2020 Financial Statements.
Accordingly, VietinBank has adjusted 2020’s consolidated and non - consolidated financial statements, audited by the independent auditor according to auditing reports of the State Audit of Vietnam.
As the State Audit of Vietnam adjusted the data on the consolidated balance sheet and the consolidated income statement only, VietinBank had to adjust the non-consolidated balance sheet and income statement respectively.
The adjustment of 2020’s audited financial statements was made for the beginning data of Quarter IV/2021’s financial statements, the figures on Quarter I, Quarter II, Quarter III/2021’s financial statements remain unchanged.
Major adjustments include:
- For the balance sheet: adjustment of provision for credit losses on loans to customers, historical cost/depreciation/amortization of tangible/intangible fixed assets, other assets, payables and other liabilities, capital and reserves.
- For the income statement: adjustment of interest and similar income, fee and commission income/expenses, other income, operating expenses, provision expense for credit losses, corporate income tax expense and non-controlling interests respectively.
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