Investor Presentaiton
MRP
3.
4.
a basis for our audit opinion on the Company and its subsidiary
companies which are incorporated in India.
MEANING OF INTERNAL FINANCIAL
REFERENCE TO FINANCIAL STATEMENTS
CONTROLS WITH
A company's internal financial control with reference to
Consolidated Financial Statements is a process designed to provide
reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles. A
company's internal financial control with reference to Consolidated
Financial Statements includes those policies and procedures
that (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions
of the assets of the company; (2) provide reasonable assurance
that transactions are recorded as necessary to permit preparation
of financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the
company are being made only in accordance with authorisations
of management and directors of the company; and (3) provide
reasonable assurance regarding prevention or timely detection of
unauthorised acquisition, use, or disposition of the company's assets
that could have a material effect on the financial statements.
INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS
WITH REFERENCE TO CONSOLIDATED FINANCIAL STATEMENTS
Because of the inherent limitations of internal financial controls over
financial reporting, including the possibility of collusion or improper
5.
management override of controls, material misstatements due to
error or fraud may occur and not be detected. Also, projections of
any evaluation of the internal financial controls with reference to
Consolidated Financial Statements to future periods are subject to the
risk that the internal financial control with reference to Consolidated
Financial Statements may become inadequate because of changes
in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
OTHER MATTERS
Our aforesaid report under Section 143(3)(i) of the Act on the
adequacy and operating effectiveness of the internal financial
controls with reference to Financial Statements in so far as it relates
to subsidiary companies, incorporated in India, is based on the
report of the auditors.
For M M NISSIM & CO. LLP
Chartered Accountants
Firm Reg. No. 107122W/W100672
N KASHINATH
Partner
Mem. No. 036490
UDIN: 23036490BGXRXP9499
Place: Chennai
Date: 3rd May, 2023
For SASTRI & SHAH
Chartered Accountants
Firm Reg. No. 003643S
CR KUMAR
Partner
Mem. No. 026143
UDIN: 23026143BGZEEG3060
Place: Chennai
Date: 3rd May, 2023
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