“On the letter head”
XYZ Private Limited
(CIN:____________________________)
Annexure to the
Auditors’ Report
The Annexure
referred to in our report to the members of XYZ Private Limited for the yearended
on March 31, 2015.
We
report that:
Clause
(i):
(a)Whether the
company is maintaining proper records showing full particulars, including
quantitative details and situation of fixed assets?
Auditors’
Remarks:
(b)Whether these
fixed assets have been physically verified by the management at reasonable
intervals; whether any material discrepancies were noticed on such verification
and if so, whether the same have been properly dealt with in the books of
account?
Auditors’
Remarks:
Clause
(ii):
(a)Whether
physical verification of inventory has been conducted at reasonable intervals
by the management?
Auditors’
Remarks:
(b) Are the
procedures of physical verification of inventory followed by the management
reasonable and adequate in relation to the size of the company and the nature
of its business? If not, the inadequacies in such procedures should be
reported.
Auditors’
Remarks:
(c) Whether
the company is maintaining proper records of inventory and whether any material
discrepancies were noticed on physical verification and if so, whether the same
have been properly dealt with in the books of account;
Auditors’
Remarks:
Clause
(iii):Whether the company has granted any
loans, secured or unsecured to companies, firms or other parties covered in the
register maintained under section 189 of the Companies Act. If so,
(a) Whether receipt of the
principal amount and interest accrued also regular; and
Auditors’
Remarks:
(b) If
overdue amount is more than rupees one lakh, whether reasonable steps have been
taken by the company for recovery of the principal and interest;
Auditors’
Remarks:
Clause
(IV):Is there an adequate internal control
system commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the sale of
goods and services. Whether there is a continuing failure to correct major
weaknesses in internal control system?
Auditors’
Remarks:
Clause
(V):In case the company has accepted
deposits, whether the directives issued by the Reserve Bank of India and the
provisions of sections 73 to 76 or any other relevant provisions of the
Companies Act and the rules framed there under, where applicable, have been
complied with? If not, the nature of contraventions should be stated; If an
order has been passed by Company Law Board or National Company Law Tribunal or
Reserve Bank of India or any court or any other tribunal, whether the same has
been complied with or not?
Auditors’
Remarks:
Clause
(VI):Where maintenance of cost records has
been specified by the Central Government under sub-section (1) of section 148
of the Companies Act, whether such accounts and records have been made and
maintained?
Auditors’
Remarks:
Clause
(VII):
(a) is the company regular in depositing
undisputed statutory dues including provident fund, employees’ state insurance,
income-tax, sales-tax, wealth tax, service tax, duty of customs, duty of
excise, value added tax, cess and any other statutory dues with the appropriate
authorities and if not, the extent of the arrears of outstanding statutory dues
as at the last day of the financial year concerned for a period of more than
six months from the date they became payable, shall be indicated by the auditor.
Auditors’
Remarks:
(b) in case dues of income
tax or sales tax or wealth tax or service tax or duty of customs or duty of
excise or value added tax or cess have not been deposited on account of any
dispute, then the amounts involved and the forum where dispute is pending shall
be mentioned. (A mere representation to the concerned Department shall not
constitute a dispute).
Auditors’
Remarks:
(c) whether the
amount required to be transferred to investor education and protection fund in
accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956)
and rules made thereunder has been transferred to such fund within time.
Auditors’
Remarks:
Clause
(VIII):whether in case of a company which
has been registered for a period not less than five years, its accumulated
losses at the end of the financial year are not less than fifty per cent of its
net worth and whether it has incurred cash losses in such financial year and in
the immediately preceding financial year?
Auditors’
Remarks:
Clause
(IX):Whether the company has defaulted in
repayment of dues to a financial institution or bank or debenture holders? If
yes, the period and amount of default to be reported;
Auditors’
Remarks:
Clause
(X):Whether the company has given any
guarantee for loans taken by others from bank or financial institutions, the
terms and conditions whereof is prejudicial to the interest of the company;
Auditors’
Remarks:
Clause
(XI):Whether term loans were applied for the
purpose for which the loans were obtained?
Auditors’
Remarks:
Clause
(XII):whether any fraud on or by the
company has been noticed or reported during the year; If yes, the nature and
the amount involved is to be indicated.
Auditors’
Remarks:
For ABC&Co.
Chartered Accountants
Firm Reg. Number:
Name
Chartered Accountant
Membership No.:
Place:
Date:
-Ketan Kapoor
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