Page 179 - Kolte Patil AR 2019-20
P. 179

knowledgeable user of the consolidated financial statements may   separate financial statements of the subsidiaries referred to in the
            be influenced. We consider quantitative materiality and qualitative   Other Matters section above we report, to the extent applicable
            factors in (i) planning the scope of our audit work and in evaluating   that:
            the results of our work; and (ii) to evaluate the effect of any identified   a)   We have sought and obtained all the information and
            misstatements in the consolidated financial statements.
                                                                   explanations which to the best of our knowledge and belief
            We communicate with those charged with governance of the   were necessary for the purposes of our audit of the aforesaid
            Parent and such other entities included in the consolidated financial   consolidated financial statements.
            statements of which we are the independent auditors regarding,   b)   n our opinion, proper books of account as required by law
            among other matters, the planned scope and timing of the audit   relating to preparation of the aforesaid consolidated financial
            and significant audit findings, including any significant deficiencies   statements have been kept so far as it appears from our
            in internal control that we identify during our audit.
                                                                   examination  of  those  books  and  the  reports  of  the  other
            We also provide those charged with governance with a statement   auditors.
            that we have complied with relevant ethical requirements regarding   c)   The Consolidated Balance Sheet, the Consolidated Statement
            independence, and to communicate with them all relationships   of Profit and Loss including Other Comprehensive Income,
            and other matters that may reasonably be thought to bear on our   the Consolidated Cash Flow Statement and the Consolidated
            independence, and where applicable, related safeguards.
                                                                   Statement of Changes in Equity dealt with by this Report are
            From the matters communicated with those charged with   in agreement with the relevant books of account maintained
            governance, we determine those matters that were of most   for the purpose of preparation of the consolidated financial
            significance in the audit of the consolidated financial statements   statements
            of the current period and are therefore the key audit matters. We   d)   n our opinion, the aforesaid consolidated financial statements
            describe these matters in our auditor’s report unless law or regulation   comply with the Ind AS specified under Section 133 of the
            precludes public disclosure about the matter or when, in extremely   Act.
            rare circumstances, we determine that a matter should not be
            communicated in our report because the adverse consequences   e)   On the basis of the written representations received from the
            of doing so would reasonably be expected to outweigh the public   directors of the Parent as on 31st March, 2020 taken on record
            interest benefits of such communication.               by the Board of Directors of the Company and the reports of
                                                                   the statutory auditors of its subsidiary companies incorporated
            OTHER MATTERS                                          in India, none of the directors of the Group companies
            We did not audit the financial statements of 13 subsidiaries, whose   incorporated in India is disqualified as on 31st March, 2020
            financial statements reflect total assets of ` 30,015 Lakhs as at March   from being appointed as a director in terms of Section 164 (2)
            31, 2020, total revenues of `  19,630 Lakhs and net cash outflows   of the Act.
            amounting to  `  75 Lakhs for the year ended on that date, as   f)    With respect to the adequacy of the internal financial controls
            considered in the consolidated financial statements. These financial   over financial reporting and the operating effectiveness of
            statements have been audited by other auditors whose reports   such controls, refer to our separate Report in “Annexure A”
            have been furnished to us by the Management and our opinion on   which is based on the auditors’ reports of the Parent, subsidiary
            the consolidated financial statements, in so far as it relates to the   companies incorporated in India. Our report expresses
            amounts and disclosures included in respect of these subsidiaries,   an unmodified opinion on the adequacy and operating
            and our report in terms of subsection (3) of Section 143 of the Act,   effectiveness of internal financial controls over financial
            in so far as it relates to the aforesaid subsidiaries is based solely on   reporting of those companies.
            the reports of the other auditors.
                                                               g)   With respect to the other matters to be included in the Auditor’s
            Our opinion on the consolidated financial statements above and   Report in accordance with the requirements of section 197(16)
            our report on Other Legal and Regulatory Requirements below, is   of the Act, as amended,
            not modified in respect of the above matter with respect to our
            reliance on the work done and the reports of the other auditors and      I  n our opinion and to the best of our information and according
            the financial statements certified by the Management.  to the explanations given to us, the remuneration paid by the
                                                                   Parent to its directors during the year is in accordance with the
            REPORT ON OTHER LEGAL AND REGULATORY                   provisions of section 197 of the Act.
            REQUIREMENTS                                       h)   With respect to the other matters to be included in the Auditor’s
            As required by Section 143(3) of the Act, based on our audit and   Report in accordance with Rule 11 of the Companies (Audit
            on the consideration of the reports of the other auditors on the   and Auditors) Rules, 2014, as amended in our opinion and to
                                                                   the best of our information and according to the explanations

                                                                                          Annual Report 2019-20 | 177
   174   175   176   177   178   179   180   181   182   183   184