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Prosthetics and Orthotics International, 1987, 11, 2-5<br />

Auditors' Report<br />

I.S.P.O. Statement of Accounts, 1986<br />

We have audited the financial statements for the year ended December 31, 1986.<br />

The audit has been performed in accordance with approved auditing standards and has included<br />

such procedures as we considered necessary. We have satisfied ourselves that the assets shown in the<br />

financial statements exist, have been fairly valued and are beneficially owned by the company and that<br />

all known material liabilities on the balance sheet date have been included.<br />

The financial statements have been prepared in accordance with statutory requirements and the<br />

articles of association and generally accepted accounting principles. In our opinion the financial<br />

statements give a true and fair view of the state of the company's affairs on December 31,1986 and of the<br />

profit for the period then ended.<br />

Copenhagen, February 19, 1987<br />

Schøbel & Marholt<br />

Søren Wonsild Glud<br />

State Authorized Public Accountant<br />

Accounting Policies<br />

The accrual concept of accounting has been used from January 1,1986. In prior periods cash accounting<br />

concept has been used. The effect on the result for the year is explained in note 9.<br />

Securities: Bonds and shares have been valued at the lower cost on market.<br />

Income Statement for the Year 1986<br />

SUMMARY<br />

Society membership and administration (note 1) 130.873<br />

Sponsorship (note 2) 134.424<br />

Conferences, courses etc. (note 3) 254.893<br />

Prosthetics and Orthotics International (note 4) (12.075)<br />

Publications (note 5) 3.206<br />

Investment income (note 6) 539.433<br />

Balance sheet as of December 31, 1986<br />

DKK 1.050.754<br />

ASSETS<br />

Cash DKK 148.742<br />

Accounts due<br />

Advertising due 13.510<br />

Dividend tax due<br />

Accrued interest<br />

779<br />

157.733<br />

Advance funding of World Congress 1980 119.690<br />

DKK 291.712<br />

Securities (at cost) (note 7) 3.317.768<br />

Total Assets DKK 3.758.222<br />

LIABILITIES AND CAPITAL<br />

Liabilities<br />

Provision DKK 119.690<br />

:

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