Auditors approved 2019 Parpública accounts with an emphasis because of Covid-19

“The situation of public health crisis that is being experienced on this date in Portugal and in the world will surely cause impacts on the entire economy, and therefore also on all the subsidiaries and holding companies, which, on this date, are still impossible to characterize and quantify ”, say the auditors of the accounts of the owner of 72,5% of TAP and the recent nationalized Efacec.

“Parpública, the statement of income by nature, the statement of comprehensive income, the statement of changes in equity, the statement of cash flows for the year ended on that date, and the notes to the financial statements that include a summary of significant policies ”, Say the CRC Auditors, SROC - the Statutory Auditor.

In this auditor's opinion, Parpública's financial statements present “Parpública's financial position in a true and appropriate manner”.

However the accounts are approved as an emphasis. “The situation of public health crisis that is being experienced on this date in Portugal and in the world will certainly cause impacts on the entire economy, and therefore also on all the subsidiaries and holding companies, which, on this date, are still impossible to characterize and quantify, although there is no anticipation of any situation in which the preservation of the main balances of most companies in the Parpública Group may be at stake, let alone their continuity ”, says CRC - Colaço, Rosa, Coelho & Associados .

“However, the increased level of uncertainty regarding the future resulting from this situation, implies the need to strengthen all the mechanisms for monitoring the subsidiaries by the holding company in order to ensure a timely and effective response to any difficulties, which has already been done. ”, They conclude.

Parpública owns the state's position in TAP, which was increased to 72,5% of TAP in exchange for the payment of 55 million euros to David Neelman and also to Efacec, which has just been nationalized.

Read more
Recommended

Support line for micro and small businesses available starting this Wednesday

To be able to apply, companies will have to experience an abrupt and sharp drop in at least 40% of their turnover, and they will not have been able to benefit from previous lines of credit with mutual guarantee. SPGM warns that companies in difficulty cannot be based in countries or regions with a more favorable tax regime ('offshore') ”.

Pharmaceutical Pfizer starts clinical trial with almost 30 thousand participants

American pharmaceutical Pfizer and German biotechnology company BioNTech have started a clinical trial of a potential vaccine for Covid-19 involving about 30 participants, it was announced on Wednesday.

Facebook launches version of Tik Tok through Instagram

Reels is the application that Mark Zuckerberg's company created to face rival Tik Tok. The launch comes days after Microsoft announces negotiations to acquire the US operations of the ByteDance video application in China.
Comments