Forty of Angola’s 90 public companies present accounts for 2012

16 April 2013

Forty of the 90 companies controlled by Angolan state sector holding company Instituto do Sector das Empresas Públicas (ISEP) have presented their annual report and accounts for 2012, the chairman of ISEP said Monday.

Henda Esandju Inglês said that, of the 40 public companies, 27 had presented their reports within the legal deadline (31 March), six had presented preliminary accounts, four had presented un-audited accounts and 11 had requested an extension.

Of the 50 companies that have not presented any documentation, many are going into liquidation, others are at a standstill or only partially operational, according to the chairman of the ISEP, cited by Angolan news agency Angop.

Approval of the accounts has been scheduled for June and ISEP will analyse the account documents to determine the economic and financial situation of each company and its performance based on targets set.

ISEP will also draw up and submit to the government an annual report on the accounts of public companies, with specific proposals for improving the quality of the documents and the process of filing annual accounts and company performance. (macauhub)