Configuring the Company Information Report Folder

While configuring the M-15 report for the Russia GLS layer in Ax 2009  I ran into the following error:

File C:\Exports\en-us_SalesInvoice_M15.xlt not found

I had set up the Company Information (CompanyInfo) Report Folder value incorrectly, and it should point to a directory 'inside' the Ax installation, holding report templates.  The location on the server will be similar to:

C:\Program Files\Microsoft Dynamics AX\50\Appliation\Share\Include\template\

In our case only two templates exist for the M15 report, in Russian and American English.  I really need to investigate this functionality for future development as it's a very versatile way of creating client reports.