Ethiopian Shipping and Logistics Services Enterprise
Provides shipping, freight forwarding, dry port, and warehousing services for import and export goods.
Revenue
ETB 55.9B
FY 2016
Net Profit
ETB 6.5B
Profit
Total Assets
ETB 81.6B
FY 2016
Total Equity
ETB 24.1B
Revenue & Profitability
Revenue, cost of sales, and net profit over time
Balance Sheet
Total assets, liabilities, and equity over time
Audit Opinion Timeline
Key Audit Findings
Basis for qualified opinion from the latest audit report
#1 Trade and other receivable includes abnormal/credit balance; unable to determine adjustments needed
Trade and other receivable includes abnormal/credit balance; unable to determine adjustments needed
Trade and other receivable includes abnormal/credit balance; unable to determine adjustments needed
Amount: ETB 400.8M
#2 Bank reconciliation includes long outstanding reconciling items: cheques and deposits in transit, balances not recorded as collection/payment, and void transactions recorded in wrong period
Bank reconciliation includes long outstanding reconciling items: cheques and deposits in transit, balances not recorded as collection/payment, and void transactions recorded in wrong period
Bank reconciliation includes long outstanding reconciling items: cheques and deposits in transit, balances not recorded as collection/payment, and void transactions recorded in wrong period
Amount: ETB 1.6B
#3 No overdraft facility available but total credit balance understating cash balance
No overdraft facility available but total credit balance understating cash balance
No overdraft facility available but total credit balance understating cash balance
Amount: ETB 310.2M
#4 Trade and other payables include long outstanding balances with no explanation and debit balances deducted
Trade and other payables include long outstanding balances with no explanation and debit balances deducted
Trade and other payables include long outstanding balances with no explanation and debit balances deducted
Amount: ETB 2.3B
#5 Net balance at foreign operation and inter-sectorial account should have been nil out during combination
Net balance at foreign operation and inter-sectorial account should have been nil out during combination
Net balance at foreign operation and inter-sectorial account should have been nil out during combination
Amount: ETB 272.9M
#6 Transfer of Ethio-Ferries (Tana Haik Transport Enterprise): net asset per audit differs from recorded amount; no business valuation conducted
Transfer of Ethio-Ferries (Tana Haik Transport Enterprise): net asset per audit differs from recorded amount; no business valuation conducted
Transfer of Ethio-Ferries (Tana Haik Transport Enterprise): net asset per audit differs from recorded amount; no business valuation conducted
Amount: ETB 19.1M
All amounts were originally reported in Birr'000 and have been converted to full ETB. ESLSE received Qualified audit opinions for both years due to issues with trade receivables/payables, bank reconciliation discrepancies, and other matters. EC filenames: 2015 EC = FY ended 30 June 2023.