AUDITOR'S REPORT FORMAT

 

INDEPENDENT AUDITOR’S REPORT

To the Members of

COMPANY

Report on Financial Statements

We have audited the accompanying financial statements of COMPANY which comprises the Balance Sheet as at 31^st March 2015, the Profit and Loss a/c and cash flow statement for the year then ended and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

The Company’s Board of Directors are responsible for the matters stated in section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these financial statements that give a true and fair view of the financial position and financial performance and cash flow of the company in accordance with the accounting principles generally accepted in India, including Accounting Standards specified under section 133 of the Act, read with Rule 7 of Companies (Accounts) Rules, 2014. This Responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the company’s preparation and presentation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

                                                                                                                                                   Cont…2…

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We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

                                             

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India.

1.    In the case of the Balance Sheet, of the state of affairs of the company as at 31^st March 2015 and

2.    In the case of the Profit and Loss Account, of the Profit for the year ended on that date

3.    In the case of Cash Flow Statement, of the cash flow for the year ended on that date

                  Report on Other Legal and Regulatory Requirements

 

1.    As required by the companies (Auditor’s Report) Order, 2015 (“the Order”) issued by the central government of India in terms of sub-section (11) of section 143 of the Companies Act 2013, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

2.    As required by section 143(3) of the Act and Companies (Audit and Auditors) Rule 2014, we report that:

a.    We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit.

b.    In our opinion proper books of accounts as required by law, have been kept by the company so far as appears from our examination of the books of account.

c.    The Balance Sheet and the Profit and Loss Account dealt with by the report are in agreement with books of accounts.

d.    In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7of the Companies (Accounts) Rule, 2014.

e.    In our opinion, there are no adverse observations and comments on the financial transactions of the matters which have adverse effect on the functioning of the company

f.      On the basis of the written representations received from the Directors as on March 31, 2015 taken on record by the board of Directors, none of the directors is disqualified as on March 31, 2015 from being appointed as a director in terms of sub section (2) of section 164 of the Companies Act 2013

g.    In our opinion, there are no qualifications, reservation or adverse remark relating to maintenance of accounts and other matter connected therewith.

                                                                                                                                 Cont…3…

                                                                  …3…

h.        With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i)    The Company does not have any pending litigations which would impact its financial position.

ii)   The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

iii)  There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

           

            For FIRM                     Chartered Accountants

            (FRN:)

                                                           

           

Place: New Delhi                                                                                (NAME)

Dated:                                                                                                 Prop.                                                                                                                                                   M. No.

                                   

                                                                                                                                                                                                                       

                                                                               Cont…4…

…4…

Annexure to Independent Auditor’s Report referred to in paragraph ‘1’ under the heading of “Report on Other Legal and Regulatory Requirements” of our report of even date

      1.   The Company has maintained proper records showing full particulars including quantitative details and situation of the fixed assets. All the fixed assets have been physically verified during the year by the management & no material discrepancy between book records & physically verification was noticed. The company has not disposed off any asset during the year.

      2.   As per information and explanation given to us, the Stock of fire fighting & safety equipments has been physically verified by the management during the year at reasonable interval. The procedures of physical verification of stock followed by the management are reasonable and adequate in relation to the size of the company and nature of its business. The company is maintaining proper records of stock and shares and no discrepancy was found between the physical balance and book balance.     

      3    The company has not granted any interest free loan to any party covered in the register maintained u/s 189 of the Act 2013.

      4.   In our opinion and according to the Information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and to the nature of its business with regard to purchase and sale of goods and fixed assets.  

5. In our opinion and as per the information and explanations given to us, the company has not accepted any deposits from the public.

6. The Central Government of India has not prescribed the maintenance of cost records under Section 148(1) of the Act for any of the services rendered by the Company.

7.    a. According to information and explanation given to us, no undisputed amount is payable in respect of provident fund, investor Education & protection fund, ESI, Income tax, Sales tax, Wealth tax, Service tax, Custom duty, Excise duty, Cess and any other statutory dues with appropriate authorities were outstanding as at 31^st March 2015 for a period of more than six months from the date they became payable.

b. According to the records of the company, there are no dues of sales tax,   income tax, customs tax, wealth-tax, service-tax, excise duty, Cess which have not been deposited on account of any dispute.

c. According to the information and explanation given to us, there was no amount required to be transferred to Investor Education and Protection Fund in accordance with the relevant provision of Companies Act 1956 and Rules made there under.

8.    The company did not have any accumulated loss at the end of the year. The Company has neither incurred any cash losses during the year under audit nor in the immediately preceding previous year.                          

9.     On the basis of examination of records, we are of the opinion that the company has not defaulted in repayment of loan taken from bank.

Cont…5…

…5…

10.  According to the information and explanations given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions.

11.  According to the information and explanations given to us, the Company has taken a term loan for purchase of car.

12.  Based upon the audit procedures followed and information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the course of our audit.     

                                                                                                                                       

            For FIRM                     Chartered Accountants

            (FRN:)

                                                           

           

Place: New Delhi                                                                                (NAME)

Dated:                                                                                                 Prop.                                                                                                                                                   M. No.