Report of the auditor on the balance sheets and accounts
of the Lebanese Institution for the Blind
Closed on 31/12/2018
Sin El Fil, 18/01/2019
Honorable founder and general supervisor of the Lebanese Institution for the Blind Dr. Issa El-Maalouf,
To carry out the mission entrusted to us by your honorable administration regarding the auditing of the year 2018 activities of L. I. B,
We have reviewed the attached balance sheet and all the financial statements required for L. I. B closed on 31/12/2018 as well as the expected budget for 2019.
The mentioned financial statements are the responsibility of the management of L. I. B. Our liability is limited to express the opinion on these statements based on our audit activity done in accordance with the common rules to obtain acceptable conviction that the statements are free from significant mistakes.
Our review included conducting the necessary inspection of some registrations, records and documents evidences of the amounts and disclosures in the financial statements, as well as other auditing procedures that we found appropriate. We believe that our audit is a reasonable basis for our opinion.
In our opinion, the financial statements present fairly and validly the financial status of L. I. B closed on December 31st, 2018 and the results of its operations for the year ended in accordance with generally accepted accounting principles.
|Balance sheet of the year 2018|
Equipments, Maintenance of Equipments & Transport Materials.
|62,279,500||Eye surgeries &
Assistance cost for the blinds
|2,185,750||Food aid and medicines||0||Financial Support from the National Employment Association|
|3,579,000||Rental fees, Electricity,
Postal fees, Phone calls
|25,609,500||Products, Exhibition & Services|
|12,410,500||Transportation expenses: Fuel,
Car maintenance and Insurance
|945,000||Annual membership subscriptions|
|802,415||Stationery and Various Expenses|
|234,251,158||Grand Total||234,251,158||Grand Total|
|Total Receipts:||234,251,158||OnlyTwo hundred thirty four million Two hundred fifty one thousand and One hundred fifty eight Lebanese Pounds.|
|Total Payements:||230,244,165||Only Two hundred thirty million Two hundred forty four thousand and One hundred sixty five Lebanese Pounds.|
|Current Surplus:||4,006,993||Only Four million six thousand and nine hundred ninety three Lebanese Pounds.|
|Ismail Abdallah Aslan||Paul Antoine Rouhana||Ghada Assaad Abboud|