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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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.
The procedures selected depend on the auditor”s judgment, including the assessment of the risks of material misstatement of the standalone Ind AS financial statements, whether due to fraud or error.
As required by Section 3 of the Act, we report that: 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.
Name of the Statute Nature of dues Amount Demanded ” in crores Amount Paid ” in crores Period to which the amount relates Forum where dispute is pending Central Excise Act, Excise duty including Interest and penalty, if applicable 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 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.
These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to Company”s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.
If we conclude that a material uncertainty exists, we are required to draw attention in the auditor”s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the opinion.
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.
A company”s internal financial controls with reference to financial statements includes those policies and procedures that 1 pertain to the annuak 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 deport recorded as necessary to permit annual 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 rreport detection of unauthorized acquisition, use, or disposition of the company”s assets that could have a material effect on the financial statements.
In accordance with this programme, a portion of the fixed assets has been physically verified by the management during the year and no material discrepancies have been noticed annuaal such verification. Track HUL on the go with the money control app. 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. The Company has made provision, as required under the applicable law or rport standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts – Refer Note hinxustan to the standalone Ind AS financial statements.
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, professional tax and other material statutory dues were in arrears as at 31 March for a period of more than six months from the date they became payable.
There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company. Accordingly, paragraph 3 viii of the Order is not applicable to the Company.
Quick Links for hindustanunilever. Accordingly, paragraph 3 xiv of the Order is not applicable to the Company. However, we have not made a hindusan examination of the records. Accordingly, paragraph 3 xv of the Order is not applicable to the Company. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone Ind AS financial annula that give a true and fair view and are free from material misstatement, whether due to fraud or error.
The discrepancies noticed on verification between the physical stocks and the book records were not material.
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 unilevwr in the circumstances. The Company has complied with the provisions of Section of the Act in respect of investments made or loans or guarantee or security provided to the parties covered under Section The details of such related party transactions have been disclosed in the standalone Ind AS financial statements as required by applicable Indian Accounting Standards.
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. Our audit involves performing procedures to hiindustan audit evidence about the adequacy of the internal financial controls system with reference to financial statements and their operating effectiveness.
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.
Our audit of internal financial controls with reference to financial statements included obtaining an understanding of internal financial controls with reference to financial statements, assessing the risk that a material weakness exists, and testing jindustan evaluating the design and operating effectiveness of internal controls based on the assessed risk.
Accordingly, paragraph 3 iii of the Order is not reoort to the Company.
Hindustan Unilever Balance Sheet, Hindustan Unilever Financial Statement & Accounts
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 responsibility is to express an opinion on the Company”s internal financial controls with reference to financial statements based on our audit. Dion Global Solutions Limited. 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.