AUDITORS START CHECKING BULGARTABAC

Business | September 14, 2001, Friday // 00:00

Immediately after the new board of directors of Bulgartabac Holding is registered, I`ll ask the State Financial Control to carry out a prompt audit of the whole venture, said Vice-Premier Nikolay Vassilev yesterday. The checkups of the enterprises in different towns will not be carried out by local auditors for fear of corruption. The net profit of the tobacco monopolist Bulgartabac for 2000 amounts to mere 3 million levs. `It`s terrible,` the Vice-PM elaborated. He had meetings with the auditors from Earnest and Young, who get him acquainted with the deplorable financial plight of the holding. The auditors have been assigned to urgently draft a clear picture of the real situation of the holding. The strategy of privatizing Bulgartabac will depend on it. 15 experts from the American Philip Morris company visited the Blagoevgrad-based cigarets producing factory. Philip Morris is interested in Blagoevgrad BT only, the Americans said after their visit.
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