Auditing Agency Establishes Damage of SIT 86 Billion to Collective Property

The Privatization Auditing Agency carried out 42 audits out of 50 in procedure from 7 August 1996 to the end of last June. On the basis of 1,092 concluded audit reports damages to collective property were established in 656 companies, that is 59 percent of all audited companies. Damages to collective property amounted to SIT 86 billion (US$ 506 million). The sum includes damages resulting from the efflux of a company's capital amounting to SIT 10 billion, as well as those which could be suppressed by bookkeeper's corrections, Director of the Agency Alenka Kovac-Arh told a news conference on Wednesday. Auditing of privatization for the period from the beginning of 1990 to the end of 1992 has been almost finished, she estimated.

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