Business and Financial Review • Nov 24, 2022
Business and Financial Review
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Reporting errors in first half 2022 financial report
Ålesund 24.11.2022
Golden Energy Offshore Services AS (the Company) reported its first half 2022 financial report on 30 September 2022, ref. separate announcement on the same day.
The Company has discovered that the reported numbers contained certain errors which mainly relate to the utilization of an incorrect NOK/USD exchange rate. The Company refers to the attached letter from its accountant (Azets Insight AS) explaining the situation. As explained therein, the booked equity of the Company was NOK 59,459,895 lower than reported (ref. more specifically also note 2 to the report). However, as documented in the Q3 2022 report published in a separate announcement today, a reversal of previous impairments on the Company’s vessels has amongst other things given a positive effect on the booked equity which now is NOK 116,343,000.
Following these errors, management and the board of directors has initiated additional control procedures to strengthen internal control over financial reporting.
For further information please contact
Per Ivar Fagervoll
CEO
email [email protected]
Phone +47 97428884
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