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 Section 3 of the Act, we report that: An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the standalone Ind AS financial statements. Our responsibility is to express an opinion on the Company”s internal financial controls with reference to financial statements annjal on our audit.

In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets. Our responsibility is to express an opinion on these standalone Ind AS financial statements based on our audit. There has been no delay in transferring amounts, required annnual be transferred, to the Investor Education and Protection Fund by the Company.

Accordingly, paragraph 3 xii of the Order is not applicable to the Company. The details of such related party transactions have been disclosed in the standalone Ind AS financial statements as required by applicable Indian Accounting Standards. Accordingly, paragraph 3 xv of the Order is not applicable to the Company. 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 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 statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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

HUL Annual Report – Financial Statements and Analysis

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.

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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 repprt 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 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. 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.

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. 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.

Accordingly, paragraph 3 iii of the Order is not applicable to the Company. However, we have not made a detailed examination of the records. The discrepancies noticed on verification between the physical stocks and the 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. In our opinion, the frequency of such verification is reasonable.

Hindustan Unilever

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.

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Reproduction of news articles, photos, videos or any other content in whole or in part in any repotr or medium without express written permission of moneycontrol. 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.

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. Accordingly, paragraph 3 xvi of the Order is not applicable to 2009-1 Company. Track HUL on the go with the money control app. 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.

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

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 repport Rules made there under.

We annuxl 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.

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 jul matters specified in paragraphs 3 and 4 of the Order.

Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the standalone Ind AS financial statements are free from material misstatement.