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a) Identify and assess the risks of material
misstatement of the Standalone Financial
Statements, whether due to fraud or error, design
and perform audit procedures responsive to those
ƑĿƙŒƙȡ îŠē ūċƥîĿŠ îƭēĿƥ ĚDŽĿēĚŠČĚ ƥĺîƥ Ŀƙ ƙƭljǛČĿĚŠƥ
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.
ċȴ ~ċƥîĿŠ îŠ ƭŠēĚƑƙƥîŠēĿŠij ūlj ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ
control relevant to the audit in order to design
audit procedures that are appropriate in the
ČĿƑČƭŞƙƥîŠČĚƙȦ ÀŠēĚƑ ¬ĚČƥĿūŠ ǧǪǩȳǩȴȳĿȴ ūlj ƥĺĚ
Act, we are also responsible for expressing our
opinion on whether the Company has adequate
ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ ČūŠƥƑūŕƙ ƙNjƙƥĚŞ ĿŠ ƎŕîČĚ îŠē ƥĺĚ
operating effectiveness of such controls.
c) Evaluate the appropriateness of accounting
policies used and the reasonableness of
accounting estimates and related disclosures
made by the Management.
d) Conclude on the appropriateness of use of the
going concern basis of accounting by the
Management and, based on the audit evidence
obtained, whether a material uncertainty exists
related to events or conditions that may cast
ƙĿijŠĿǛČîŠƥ ēūƭċƥ ūŠ îċĿŕĿƥNj ūlj ƥĺĚ ūŞƎîŠNj ƥū
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 Standalone 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 Company to cease to
continue as a going concern.
e) Evaluate the overall presentation, structure and
content of the Standalone Financial Statements,
including the disclosures and whether the
Standalone Financial Statements represent the
underlying transactions and events in a manner
that achieves fair presentation.
Materiality is the magnitude of misstatements in the
Standalone Financial Statements that, individually or
in aggregate, makes it probable that the economic
decisions of a reasonably knowledgeable user of the
¬ƥîŠēîŕūŠĚ GĿŠîŠČĿîŕ ¬ƥîƥĚŞĚŠƥƙ ŞîNj ċĚ ĿŠǜƭĚŠČĚēȦ
We consider quantitative materiality and qualitative
factors in (i) planning the scope of our audit work
and in evaluating the results of our work; and
ȳĿĿȴ ƥū ĚDŽîŕƭîƥĚ ƥĺĚ ĚljljĚČƥ ūlj îŠNj ĿēĚŠƥĿǛĚēŞĿƙƙƥîƥĚŞĚŠƥƙ
in the Standalone Financial Statements.
We communicate with those charged with governance
regarding, among other matters, the planned scope
îŠē ƥĿŞĿŠij ūlj ƥĺĚ îƭēĿƥ îŠē ƙĿijŠĿǛČîŠƥ îƭēĿƥ ǛŠēĿŠijƙȡ
ĿŠČŕƭēĿŠij îŠNj ƙĿijŠĿǛČîŠƥ ēĚǛČĿĚŠČĿĚƙ ĿŠ ĿŠƥĚƑŠîŕ ČūŠƥƑūŕ
that we identify during our audit.
We also provide those charged with governance with
a statement that we have complied with relevant
ethical requirements regarding independence, and to
communicate with them all relationships and other
matters that may reasonably be thought to bear on
our independence, and where applicable, related
safeguards.
From the matters communicated with those charged
with governance, we determine those matters that
DžĚƑĚ ūlj Şūƙƥ ƙĿijŠĿǛČîŠČĚ ĿŠ ƥĺĚ îƭēĿƥ ūlj ƥĺĚ ¬ƥîŠēîŕūŠĚ
Financial Statements of the current period and are
therefore the key audit matters. We describe these
matters in our Auditor’s Report unless law or regulation
precludes public disclosure about the matter or when,
in extremely rare circumstances, we determine that
a matter should not be communicated in our report
because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest
ċĚŠĚǛƥƙ ūlj ƙƭČĺ ČūŞŞƭŠĿČîƥĿūŠȦ
Report on other legal and regulatory requirements
ǧǧȦ
ƙ ƑĚƐƭĿƑĚē ċNj ¬ĚČƥĿūŠ ǧǪǩȳǩȴ ūlj ƥĺĚ Čƥȡ ċîƙĚē ūŠ ūƭƑ
audit on the separate Financial Statements we report,
to the extent applicable that:
a) We have sought and obtained all the information
and explanations which to the best of our
knowledge and belief were necessary for the
purposes of our audit.
b) In our opinion, proper books of account as required
by law have been kept by the Company so far as
it appears from our examination of those books.
Corporate Overview 01-22
Statutory Reports 23-105
Financial Statements 107-250
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Atul Ltd | Annual Report 2018-19