- Version Auditor’s Report 2025
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- File Size 31.13 KB
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- Create Date July 9, 2025
- Last Updated July 9, 2025
Document Description
This is a Proforma Independent Auditor’s Report for the financial year ending March 31, 2025, prepared for ABC Private Limited by its statutory auditors. It follows the structure and standards mandated by Indian law, particularly the Companies Act, 2013, and applicable Accounting Standards (AS) and Standards on Auditing (SAs). The report is designed as a formal communication from the auditors to the shareholders of the company, ensuring transparency and accountability of the company's financial reporting.
Purpose of the Document
The purpose of this audit report is to:
Express an opinion on the truthfulness and fairness of the company’s financial statements.
Report on the adequacy of internal controls and compliance with regulatory requirements.
Confirm the independence and ethical compliance of the auditors.
Disclose any material misstatements or irregularities, if present.
Fulfill legal reporting obligations under various sections of the Companies Act and associated rules.
Key Excerpt Summary
Here are the key takeaways from the document’s main content:
Audit Opinion:
The auditors state that the financial statements give a true and fair view of the company's financial condition as of March 31, 2025.
The report affirms compliance with Accounting Standards under section 133 of the Companies Act.
Basis for Opinion:
Audit conducted per the Standards on Auditing.
Auditors affirm their independence and compliance with the ICAI Code of Ethics.
Sufficient audit evidence was obtained to support their opinion.
Other Information – Board Report:
The auditor does not express an opinion on the Board of Directors’ report.
They are responsible for identifying any material inconsistencies between the Board Report and the financial statements.
Management Responsibilities:
Management is responsible for:
Preparing accurate and fair financial statements.
Maintaining internal controls.
Preventing fraud.
Ensuring the company’s status as a going concern.
Auditor Responsibilities:
Aim is to provide reasonable assurance that the financials are free from material misstatement.
The audit involves:
Evaluating internal controls.
Assessing accounting estimates.
Testing financial records.
Considering risk of fraud and error.
Legal and Regulatory Reporting:
Compliance with the Companies (Auditor’s Report) Order, 2020 is confirmed.
No litigation, contract losses, or unpaid statutory dues were noted.
Internal financial controls were found adequate and effective.
The company’s audit trail system was operational and intact throughout the year.
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