Atul AR 2018-19 Cover to Cover high res

as a whole are free from material misstatement,

whether due to fraud or error and to issue an Auditor’s

Report that includes our opinion. Reasonable

assurance is a high level of assurance, but is not a

guarantee that an audit conducted in accordance

with SAs will always detect a material misstatement

ǅĺĚŠ Ŀƥ ĚǊĿƙƥƙȦ qĿƙƙƥîƥĚŞĚŠƥƙ ČîŠ îƑĿƙĚ ljƑūŞ ljƑîƭē ūƑ

error and are considered material if, individually or in

ƥĺĚ îijijƑĚijîƥĚȡ ƥĺĚǋ Čūƭŕē ƑĚîƙūŠîċŕǋ ċĚ ĚǊƎĚČƥĚē ƥū

ĿŠǜƭĚŠČĚ ƥĺĚ ĚČūŠūŞĿČ ēĚČĿƙĿūŠƙ ūlj ƭƙĚƑƙ ƥîŒĚŠ ūŠ ƥĺĚ

basis of these Consolidated Financial Statements.

ǧǦȦ

ƙ ƎîƑƥ ūlj îŠ îƭēĿƥ ĿŠ îČČūƑēîŠČĚ ǅĿƥĺ ¬ ƙȡ ǅĚ ĚǊĚƑČĿƙĚ

ƎƑūljĚƙƙĿūŠîŕ ŏƭēijĚŞĚŠƥ îŠē ŞîĿŠƥîĿŠ ƎƑūljĚƙƙĿūŠîŕ

skepticism throughout the audit. We also:

a) Identify and assess the risks of material

misstatement of the Consolidated Financial

Statements, whether due to fraud or error, design

and perform audit procedures responsive to those

ƑĿƙŒƙ 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

Čƥȡ ǅĚ îƑĚ îŕƙū ƑĚƙƎūŠƙĿċŕĚ ljūƑ ĚǊƎƑĚƙƙĿŠij ūƭƑ

opinion on whether the Parent 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

ūċƥîĿŠĚēȡ ǅĺĚƥĺĚƑ î ŞîƥĚƑĿîŕ ƭŠČĚƑƥîĿŠƥǋ ĚǊĿƙƥƙ

related to events or conditions that may cast

ƙĿijŠĿǛČîŠƥ ēūƭċƥ ūŠ ƥĺĚ îċĿŕĿƥǋ ūlj ƥĺĚ HƑūƭƎ îŠē

Ŀƥƙ ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ ƥū ČūŠƥĿŠƭĚ îƙ î ijūĿŠij

concern. If we conclude that amaterial uncertainty

ĚǊĿƙƥƙȡ ǅĚ îƑĚ ƑĚƐƭĿƑĚē ƥū ēƑîǅ îƥƥĚŠƥĿūŠ ĿŠ ūƭƑ

Auditor’s Report to the related disclosures in the

Consolidated 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

ƥĺĚ HƑūƭƎ îŠē Ŀƥƙ ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ ƥū ČĚîƙĚ

to continue as a going concern.

e) Evaluate the overall presentation, structure and

content of the Consolidated Financial Statements,

including the disclosures and whether the

Consolidated Financial Statements represent the

underlying transactions and events in a manner

that achieves fair presentation.

ljȴ

~ċƥîĿŠ ƙƭljǛČĿĚŠƥ îƎƎƑūƎƑĿîƥĚ îƭēĿƥ ĚǄĿēĚŠČĚ

ƑĚijîƑēĿŠij ƥĺĚ ǛŠîŠČĿîŕ ĿŠljūƑŞîƥĿūŠ ūlj ƥĺĚ

business activities within the Group and its

ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ ƥū ĚǊƎƑĚƙƙ îŠ ūƎĿŠĿūŠ

on the Consolidated Financial Statements. We

are responsible for the direction, supervision

and performance of the audit of the Financial

Statements of such entities or business activities

included in the Consolidated Financial Statements

of which we are the Independent Auditors. For

the other entities or business activities included

in the Consolidated Financial Statements, which

have been audited by other Auditors, such other

Auditors remain responsible for the direction,

supervision and performance of the audits carried

out by them. We remain solely responsible for our

audit opinion.

Materiality is the magnitude of misstatements in the

Consolidated Financial Statements that, individually

or in aggregate, makes it probable that the economic

decisions of a reasonably knowledgeable user of the

ūŠƙūŕĿēîƥĚē 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 (ii) to

ĚǄîŕƭîƥĚ ƥĺĚ ĚljljĚČƥ ūlj îŠǋ ĿēĚŠƥĿǛĚē ŞĿƙƙƥîƥĚŞĚŠƥƙ ĿŠ

the Consolidated Financial Statements.

We communicate with those charged with governance

of the Parent and such other entities included in the

Consolidated

Independent Auditor’s Report

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