BMWU accounts in shambles

According to auditors, the union does not keep a detailed asset register or provide them with the title deed for all investment properties.

“In the absence of the assets register completeness of property plant and equipment could also not be verified. Without the title deeds for the investment property ownership of such property could also not be verified. Non-compliance by the union with IAS 16 and 36. We cannot confirm the effect of the same on the annual financial statement,” Mazars auditors stated.