I love this response to what appears to be a pretty good question during one of Adam's chat sessions:
[kcw] DiNaR DoCtOr Would an Erbil agreement mean that Erbil and Sulimaya(sp?) balance sheet information, most importantly assets) be consolidated with the financial statements on the CBI website?
Page 10 of 36 on the 2010 financial statements has a note that indicates that the CBI financial statements do not include the balance sheet information from the two branches.
They report to the KRG, and if I am not mistaken the Erbil branch most likely has a significantly larger amount of assets.
[Adam Montana] It could, but keep in mind that the CBI has no real legal obligation to accurately report anything in any of their reports. Is it important for them to do so? Absolutely! Do I expect them to do so? :lol: Not really
[Adam Montana] next please!
The CBI who reports to the IMF has no legal obligation to accurately report anything? Makes sense.