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Auditors flag going concern issues for FSL Trust
First Ship Lease Trust’s (FSL Trust) auditors Moore Stephens have flagged going concern issues in relation to its 2016 financial statements.
1 Min Read
Kalyakan - stock.adobe.com
Moore Stephens said there was material uncertainty related to going concern for the trust which made a net loss of $30.99m last year. It noted that FSL Trust’s current liabilities as of 31 December 2016 of $179.37m exceeded current assets of $170.96m.
“These conditions indicate the existence of a material uncertainty which may cast significant doubt of the ability of the group and the trust to continues as going concerns and therefore that they may be unable to realise their assets and discharge their liabilities in the normal course of business,” Moore Stephens said.
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