HUL ANNUAL REPORT 2009-10 PDF

HUL ANNUAL REPORT 2009-10 PDF

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), .. , , , , , COMMONPLACE. ANNUAL REPORT H in du .. HUL Share Price on BSE. (Rs. Per Share of. Hindustan Unilever Limited Annual Report are restated as per IND AS IGAAP IND AS Balance Sheet ^ ^.

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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 responsibility is to reportt an opinion on these standalone Ind AS financial statements based on our audit. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company”s Directors, as well as evaluating the overall presentation of the standalone Ind AS financial statements.

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

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.

Accordingly, paragraph 3 xvi of the Order is not applicable to the Company. Quick Links 22009-10 hindustanunilever. As required by Section 3 of the Act, we ajnual that: Track HUL on the go with the money control app. However, future events or conditions may cause an entity to cease to continue as a going concern. 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 Repoet 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.

HUL Annual Report – Financial Statements and Analysis

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 annuzl statements. 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 annuak 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 0209-10.

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In respect of inventory lying with third parties, these have substantially been confirmed by them. The discrepancies noticed on verification between the physical stocks and the book records were not material.

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.

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.

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.

The details of such related party transactions have been disclosed in the standalone Ind AS financial statements as required by applicable Indian Accounting Standards.

We conducted our audit in accordance with the Guidance Note and the Standards on Auditing, issued by ICAI and deemed to be prescribed under Section 10 of the Act, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the ICAI.

Accordingly, paragraph 3 viii of the Order is not applicable to the Company. Accordingly, paragraph 3 iii of the Order is not applicable to the Company. 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 on such verification.

Accordingly, paragraph 3 ix of the Order is not applicable to the Company.

Hindustan Unilever

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. 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. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

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In our opinion, the frequency of such verification is reasonable. The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts – Refer Note 45 to the standalone Ind AS financial statements.

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.

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 and evaluating the design and operating effectiveness of internal controls based on the assessed risk.

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.

Accordingly, paragraph 3 xv of the Order is geport 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. 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. 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.

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 internal 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.