Investor Presentaiton
7.
prudent; and the design, implementation and maintenance of
adequate internal financial controls, that were operating effectively
for ensuring accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the Consolidated
Financial Statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error.
In preparing the Consolidated Financial Statements, the respective
Board of Directors of the companies included in the Group are
responsible for assessing the ability of the Group to continue as a
going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless
management either intends to liquidate the Group or to cease
operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the
Group are responsible for overseeing the financial reporting process
of the Group.
Auditor's Responsibilities for the audit of the Consolidated
Financial Statements
Our objectives are to obtain reasonable assurance about whether
the Consolidated Financial Statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue
an auditor's report that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with SAS will always detect a material
misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic
decisions of users taken on the basis of these Consolidated Financial
Statements.
As part of an audit in accordance with SAs, we exercise professional
judgement and maintain professional scepticism throughout the
audit. We also:
• Identify and assess the risks of material misstatement of the
Consolidated Financial Statements, whether due to fraud or
error, design and perform audit procedures responsive to those
risks, and obtain audit evidence that is sufficient and appropriate
to provide a basis for our opinion. The risk of not detecting a
material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of
internal control.
• Obtain an understanding of internal financial controls relevant to
the audit in order to design audit procedures that are appropriate in
the circumstances. Under Section 143(3)(i) of the Act, we are also
responsible for expressing our opinion on whether the Company
and its subsidiary companies which are companies incorporated in
India, has adequate internal financial controls system in place and
the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used
and the reasonableness of accounting estimates and related
disclosures in the consolidated financial statements made by
the management.
Conclude on the appropriateness of management's use of the going
concern basis of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Group's ability
to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor's
report to the related disclosures in the Consolidated Financial
Statements or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor's report. However, future events or
conditions
may cause the Group to cease to continue as a going
concern.
Evaluate the overall presentation, structure and content of the
Consolidated Financial Statements, including the disclosures,
and whether the Consolidated Financial Statements represent the
underlying transactions and events in a manner that achieves fair
presentation.
• Obtain sufficient appropriate audit evidence regarding the financial
information of the entities or business activities within the Group to
express an opinion on the Consolidated Financial Statements. We
are responsible for the direction, supervision and performance of
the audit of the financial statements of such entities included in the
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