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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Accordingly, paragraph 3 xii of the Order is not applicable to the Company. However, future events or conditions may cause an entity to cease to continue as a going concern. 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 annial design audit procedures that are appropriate in the circumstances.

In respect of inventory lying with third parties, these have substantially been confirmed by them. 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.

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.

In our opinion, the Company has, in all material respects, an adequate internal financial control system with repprt to financial statements and such internal financial controls with reference to financial statements were operating effectively as at 31 Marchbased 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 issued by ICAI.

Accordingly, paragraph 3 xiv of the Order is not applicable to the Company. Our conclusions are based 2009–10 the audit evidence obtained up to the date of the auditor”s report. 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 anhual as a going concern.

HUL Annual Report – Financial Statements and Analysis

Quick Links for hindustanunilever. 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 repoet 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 amnual completeness of the accounting records, relevant to the preparation and presentation of the standalone Ind AS financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system with reference to financial statements and their operating effectiveness. Accordingly, paragraph 3 ix of the Order is not applicable to the Company. Accordingly, paragraph 3 xv of the Order is not applicable to the Company. In our annuao, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets.

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As required by Section 3 of the Act, we report that: 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.

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 Uul 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 ICAI.

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.

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

Accordingly, paragraph 3 xvi of the Order is not applicable to the Company. Our responsibility is to express an opinion on the Company”s internal financial controls with reference to repirt statements based on our audit. However, we have not made a detailed examination of the records. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the standalone Anbual AS financial statements are free from material misstatement.

Dion Global Solutions Limited.

Hindustan Unilever

OPINION In our opinion, the Company has, in all material respects, an adequate internal financial control system with reference to financial statements and such internal financial controls with reference to financial statements were operating effectively as at 31 Marchbased 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 issued by ICAI.

In accordance with this programme, a portion of the fixed assets has been physically verified by the management during the year reporf no material discrepancies have been noticed on such verification. 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 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. 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 responsibility is to express an opinion on these standalone Ind AS financial statements based on our audit.

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.

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.

A company”s internal financial annuak with reference to financial statements includes those policies and 20099-10 that 1 pertain to the maintenance of records that, in reasonable detail, accurately and wnnual reflect the transactions and dispositions of the assets of the company; 2 provide reasonable assurance that transactions are recorded as necessary to permit preparation 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 timely detection of unauthorized acquisition, use, or disposition of the company”s assets that could have a material effect on the financial statements.

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

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. Track HUL on the go with the money control app.

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 We have audited the accompanying standalone Ind AS financial statements of Hindustan Unilever Limited the Companywhich comprise the Balance Sheet as at 31 Marchthe Statement of Profit and Loss including other comprehensive incomethe Statement of Changes in Equity and the Statement of Cash Flows for the year then ended, and summary of the significant accounting policies and other explanatory information herein after referred to as standalone Ind AS financial statements.

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 Company 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.

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 repoet 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.

In our opinion, the frequency of such verification is reasonable. 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 anbual, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial 209-10, as required under the Act.

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.

The discrepancies noticed on hil between the physical stocks and relort book records were not material. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to financial statements was established and maintained and if such controls operated effectively in all material respects.