4. This auditor's report is intended to advise investors, the government, and other users on whether the company’s financial statements have been prepared in accordance with Generally Accepted Accounting Principles (GAAP),
5. Whether they are free of material misstatement (e.g. free of important and significant errors), and whether they show a true and fair view of the operating results, financial position and cash flows of the company.& AUDITOR DIRECTOR reports
19. The report also states whether any director is disqualified from being appointed as a company director if such person is already a director of a public company which: (Sec 274)
20. Hasn’t filled the annual accounts and returns for any three consecutive years (from 1.04.99)
21. Has failed to repay its deposit or interest thereon on due date.& AUDITOR DIRECTOR reports
22. Addressed to the board members Date and type of analysis Clean audit report GAAP principles & AUDITOR DIRECTOR reports Auditing firm
23. Addressed to the board members Date and type of analysis GAAP principles & AUDITOR DIRECTOR reports Clean audit report Auditing firm
24. & AUDITOR DIRECTOR reports Qualified audit report
33. What is done by CARO Physical Verification of Inventory Loan Transactions with parties covered by Section 301 Internal Control Transactions (other than Loan) with Parties covered under section 301 Fixed Deposit Internal Audit System & AUDITOR DIRECTOR reports
34. New Requirements CARO Disposal of Substantial part of Fixed Assets “If a substantial part of the Fixed Assets have been disposed off during the year, whether it has affected going concern”. Disputed Statutory Dues “In case dues of sales tax / income tax / custom tax / wealth tax / excise duty / cess have not been deposited on account of any dispute, then the amounts involved and the forum where dispute is pending may please be mentioned”. Default in repayment of dues to FI’s / Banks “Whether the Company has defaulted in repayment of dues to a financial institution or bank or debentureholders ? If yes, the period and amount of default to be reported.” & AUDITOR DIRECTOR reports
41. The Auditing Firms PricewaterhouseCoopers (or PwC) is one of the world's largest professional service firms. It was formed in 1998 from a merger between Price Waterhouse and Coopers & Lybrand, both formed in London. It has grossed worldwide revenues of $28 billion and has its presence in over 150 countries. KPMG has its global headquarters located in Amstelveen, Netherland. It was incepted in 1987 with the merger of Peat Marwick International and Klynveld Main Goerdeler. Today it runs in over 140 countries. & AUDITOR DIRECTOR reports
44. Cash flow in the case of cash flow statementIt covers opinion, views and comments on certain matters, crucial to functioning of the business and financial performance. & AUDITOR DIRECTOR reports
49. Countries image where the scandal occurs also get tarnished in a great deal. The reputation of India Inc. post the Satyam fiasco was a case in point. & AUDITOR DIRECTOR reports
54. Any material changes that might have occurred between the end of financial period and the date of report
55. Energy, Technology and foreign exchange earnings As per Section 217, Companies Act & AUDITOR DIRECTOR reports
56.
57. Reasons for the failure, if any to complete the buy back within the time specified.& AUDITOR DIRECTOR reports
58.
59. Responsibility of having made reasonable and prudent judgments and estimates that give a fair view of the state of affairs and the profit and loss in the Financial year.
60. The accounts have been prepared on a going concern basis& AUDITOR DIRECTOR reports
61.
62. If employed for a part of the financial year, received remuneration not less than 2 lacs per month in aggregate.
63. If employed for whole year or a part thereof, received remuneration which in aggregate is more than/is at an aggregate rate more than a managing director or a whole-time director or a manager, and holds either by himself or along with his spouse and dependent children, not less than 2% of the equity shares of the company.
64. Report should specify if any such employee is related to any director or manager of the company, and if so, the name of the director.& AUDITOR DIRECTOR reports
