Enterprise Funds in Central & Eastern Europe: Investment & Program Strategies, Plans for Sustainability, Overall Performance & Management Practices
DIANE Publishing, Jul 1, 1994 - 83 pages
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accounting principles Agency for International aid's Analysis of Enterprise annual audit auditing standards bad debts board of directors Bulgarian cash flow statement Central and Eastern chief financial officer Compiled by GAO conflict of interest currency exchange Czech and Slovak disbursed Eastern Europe Encountered Problems Enterprise Fund Investments enterprise fund managers Equity Fund equity investments EurAmerica financial statements Fund had invested Fund Investments Hindered Fund officials Fund's Investment Portfolio GAO from enterprise grant agreements Hindered by Inconsistent Hungarian Fund invested Hungary Incomplete Financial Reporting Inconsistent and Incomplete internal controls Investment and Technical investment capital investment managers Investment Revenues investment services company Investments Have Encountered investors joint venture June losses million monitoring noninvestment related Oversight of Enterprise percent Poland Polish Fund Polish Fund's Investment Polish zloty president seed Act semiannual reviews Slovak Fund Slovakia start-up submit technical assistance funds Technical Assistance Strategy U.S. dollars U.S. Government Oversight venture capital
Page 12 - Albania, Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia.
Page 57 - ... in conformity with generally accepted accounting principles. We confirm that we are responsible for the fair presentation of the (consolidated) financial statements of financial position, results of operations, and cash flows in conformity with generally accepted accounting principles.
Page 20 - When the Hungarian Fund invested in companies that had access to other sources of capital (representing 12 percent of its invested capital), GAO questioned "whether such investments were consistent with the Fund's mandate to develop small- and medium-size businesses." Hungarian Fund officials countered that these investments in publicly traded companies "leveraged additional investment capital by (1) encouraging other investors to invest and (2) helping to stabilize the stock market, which was not...
Page 48 - We conducted our audit in accordance with generally accepted Government auditing standards, issued by the Comptroller General of the United States as implemented by the Inspector General, Department of Defense, and OMB Bulletin No.
Page 81 - Agency for International Development See comment 2. See comment 3. See comment 4.
Page 56 - Salaries were to be reduced by 50 percent if the company did not show a profit after 15 months.
Page 1 - Copies will also be made available to other interested parties upon request. Please contact me at (202) 512-4128 if you or your staff have any questions concerning this report.
Page 15 - We conducted our review between July 1992 and September 1993 in accordance with generally accepted government auditing standards.
Page 13 - Introduction and the Central Asian Republics (Kazakhstan, the Krygyz Republic, Tajikistan, Turkmenistan, and Uzbekistan) in December 1993; and Albania and the western New Independent States (Belarus, Moldova, and Ukraine) in January 1994.