M. Lingė calls for responsible institutions to evaluate whether "Jozita" provides financial reports properly
Lithuanian MP M. Lingė has requested an evaluation of the company "Jozita" regarding its financial reporting practices following an investigative journalism report noting potential irregularities.
M. Lingė, a member of the Lithuanian parliament, has raised concerns about the financial reporting of the company "Jozita," calling on responsible institutions to conduct an evaluation. This request follows a report from the investigative journalism center "Siena," which highlighted that "Jozita" may have inadequately submitted its financial reports to the Registrų Centras, the country's registry center. Lingė pointed out that instead of providing mandatory annual audits as required, the company has submitted a statement from its director, Jonas Jokubauskis, mentioning that auditors will not be hired because he is the main shareholder.
According to data from the Registrų Centras, the company has consistently provided the same explanation regarding the audits for its financial reports since 2019. Lingė also noted that this explanation was given previously in 2017 and 2015. Such repeated disclosures raise questions about the legitimacy and compliance of "Jozita" with legal financial reporting obligations under the Companies and Group Reporting Act, which mandates legal entities to prepare annual financial statements and ensure proper auditing of such reports.
Lingė's call for an assessment aims to ensure accountability and transparency within corporate financial reporting practices in Lithuania. As this situation unfolds, it may lead to broader scrutiny of how companies adhere to financial regulations, potentially resulting in legislative reforms or stricter enforcement of compliance requirements in the future.