External auditor flags going concern on Etihad Atheeb ​ Telecom​

Etihad Atheeb’s (GO Telecom) external auditor raised a substantial doubt about the entity’s ability to continue as a going concern since the company’s liabilities exceeded its current assets.

GO Telecom’s accumulated losses reached SAR 910.8 million, or 58 percent of its capital by the end of December 2014, according to data compiled by Argaam.

The telecom operator, however, has said that it will be able to settle due liabilities and that its preliminary financial results were based upon sustainability principle.