HINDUSTAN UNILEVER ANNUAL REPORT 2011-12 PDF

Hindustan Unilever Limited Annual Report Annual Report, , Overview, Financial Highlights and Brands, Financial Performance, Performance . Get Hindustan Unilever latest Balance Sheet, Financial Statements and Hindustan Unilever detailed profit and loss accounts. Auditor’s Report (Hindustan Unilever), Year End: Mar ’18 We have audited the accompanying standalone Ind AS financial statements of Hindustan Unilever Limited (the Company), .. , , , , ,

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Accordingly, paragraph 3 xii of the Order is not applicable to the Company. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone Ind AS financial statements give the information required by the Act in the 211-12 so required and give a true and fair view in conformity with the accounting principles generally accepted in India of the state of affairs of the Company as at unklever Marchits profit and other comprehensive income, changes in equity and its cash flows for the year ended on that date.

According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, employees state insurance, income tax, sales tax, service tax, goods and service tax, duty of customs, duty of excise, value added tax, cess, hindustna tax and other material statutory dues were in arrears as at annaul March for a period of more than six months from the date they became payable.

The discrepancies noticed on verification between the physical stocks and the book records were not material.

OPINION In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone Ind AS 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 of the state of affairs of the Company as at 31 Marchits profit and other comprehensive income, changes in equity and its cash flows for the year ended on that date.

Our conclusions are based on the audit evidence obtained up to the date of the auditor”s report.

Accordingly, paragraph 3 ix of the Order is not applicable to the Company. Accordingly, paragraph 3 xv of the Order is not applicable to the Company. In making those risk assessments, the auditor considers internal financial controls relevant to the Company”s preparation of the standalone Ind AS financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances.

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

Hindustan Unilever Balance Sheet, Hindustan Unilever Financial Statement & Accounts

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. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system with reference to financial statements and their operating effectiveness.

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Because of the inherent limitations of internal financial controls with reference to financial statements, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected.

Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol. Accordingly, paragraph 3 viii of the Order is not applicable to the Company. We conducted our audit of the standalone Ind AS financial statements in accordance with the Standards on Auditing specified under Section 10 of the Act.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company”s internal financial control system with reference to financial statements. In respect of inventory lying with third parties, these have substantially been confirmed by them. Accordingly, paragraph 3 xiv of the Order is not applicable to the Company. The Company has disclosed the impact of pending litigations on its financial position in its standalone Ind AS financial statements – Refer Note 24 to the standalone Ind AS financial statements.

Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the standalone Ind AS financial statements are free from material misstatement. In preparing the financial statements, management is responsible for assessing the Company”s ability 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 Company or to cease operations, or has no realistic alternative but to do so.

In our opinion, the frequency of such verification is reasonable.

Hindustan Unilever

A company”s internal financial controls with reference to 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 authorizations of management and directors of the company; and 3 provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company”s assets that could have a material effect on the financial statements.

Our responsibility is to express an opinion on these standalone Ind AS financial statements based on our audit. The disclosures regarding details of specified bank notes held and transacted during 8 November to 30 December has not been made since the requirement does not pertain to financial year ended 31 March As required by the Companies Auditor”s Report Order, the Orderissued by the Central Government in terms of Section 11 of the Act, we give in Annexure A a statement on the matters specified in paragraphs 3 and 4 of the Order.

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A company”s internal financial controls with reference to 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.

We are also responsible to 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 entity”s ability to continue as a going concern.

Our responsibility is to express an opinion on the Company”s internal financial controls with reference to financial statements based on our audit. Also, projections of any evaluation of the internal financial controls with reference to financial statements to future periods are subject to the risk that the reporf financial controls with reference to financial statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to financial statements was established and maintained and if such controls operated effectively in all material respects. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the standalone Ind AS financial statements.

Quick Links for hindustanunilever. We have audited the internal financial controls with reference to financial statements of Hindustan Unilever Limited the Company as of 31 March in conjunction with our audit of the standalone Ind AS financial statements of the Company for the year ended on that date.

The Company”s management is responsible for establishing and maintaining internal financial controls based on the internal controls with reference to financial statements criteria established by the Company considering the essential components of internal controls stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting the Guidance note issued by the Institute of Chartered Accountants of India ICAI. As required by Section 3 of the Act, we report that: However, future events or conditions may cause an entity to cease to continue as a going concern.