As a reminder, IOM Procedure 6-300 requires all Participants to submit to Diners Club International (DCI) a certified English language copy of their Annual Audit Report, audited by independent external public accountants, no later than four (4) months after the end of the fiscal year of the Participant. These reports must contain information sufficient to enable a third party to fully evaluate the financial position of the Participant.
Participants with a fiscal year ending 31 December 2013 must submit these reports to DCI no later than
1 May 2014. For those Participants that do not have a 31 December 2013 fiscal year end, the Annual Audit Report is due four (4) months after the end of the fiscal year.
The Annual Audit Report must include the following Financial Statement components presented on a comparative basis (i.e., current year and prior year):
• 2 year Comparative Income Statement (current and prior year)
• 2 year Comparative Balance Sheet (current and prior year)
• 2 year Comparative Statement of Changes in Financial Position (or Cash Flow) (current and prior year)
• 2 year Comparative Statement of Changes in Shareholder Equity (current and prior year)
• Independent Auditor’s Report with opinion on the fairness of the Financial Statements
• All Accompanying Footnotes to the Financial Statements
• Management Review and Analysis of business performance for the current year
• Historical company background information
An English language copy of the Annual Audit Report must be provided. Translation costs incurred by DCI will be recovered from the respective Participant via EIX.
The Annual Audit Report may be submitted to kennethschmidt@discover.com. Alternatively, the reports may also be sent via mail/courier to Ken Schmidt, Discover Financial Services, 2500 West Lake Cook Road, Riverwoods, IL 60015, USA.
Please forward this memo, as deemed necessary, to others in your organization who are responsible for Financial Control activities.
For more information, please contact:
Ken Schmidt: +1 224 405-3083 or kennethschmidt@discover.com
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