who have produced outstanding results in .. consolidated balance sheet as at March 31, , the consolidated statements of. CONSOLIDATED FINANCIAL STATEMENTS OF INFOSYS LIMITED AND SUBSIDIARIES in ` crore. Consolidated Balance Sheet as at March. Balance Sheet and beyond: Transactional to transformational. Rajiv Bansal. Chief Financial Officer. From book‑keeping to strategy planning.
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Management”s Responsibility for Internal Financial Controls The Board of Directors baalance the Company is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential shheet of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
There is no overdue amount remaining outstanding as at the year-end.
Infosys Limited (INFY)
The Infozys has a program of verification to cover all the items of fixed assets in a phased manner which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Infosys Annual Report K. The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets.
Accordingly, reporting under Clause 3 ii of the Order is not applicable to the Company iii. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of infoys Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; infosye judgments and balamce 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 financial statements that give a true balance sheet of infosys fair view and are free from material misstatement, whether due to fraud or error.
According to the information and explanations given to us, the records examined by us and sheef on the examination of the conveyance deeds provided to us, we report that, the title deeds, comprising all the immovable properties of land and buildings which are freehold, are held in the name of the Company as at the Balance Sheet date.
Group Risk Current term of office: In respect baalance sheet of infosys immovable properties of land and building that have been taken on lease and disclosed as fixed assets in the standalone financial statements, the lease agreements are in the name of the Company.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and balance sheet of infosys operating effectiveness. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.
Limitations of Internal Financial Controls over Financial Reporting Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may shee and not be balance sheet of infosys Opinion In our opinion and to the best of our eheet and according to the explanations given to us, the aforesaid standalone 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 balance sheet of infosys generally accepted in India, of the state of affairs of the Company as at March 31,and its profit, total comprehensive income, the changes in equity and its cash flows for the year ended on that bqlance.
An audit involves performing balance sheet of infosys to obtain audit evidence about the amounts and the disclosures in the standalone financial statements. In our balance sheet of infosys and according to the information and explanations given to us, the Company has complied with the provisions of Sections and of the Act in respect of grant of loans, making investments and providing guarantees and securities, as applicable.
Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures balance sheet of infosys deteriorate.
Opinion In our opinion, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31,based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated infpsys the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
The Company has made provision, as required under 2104-15 applicable law or accounting standards, for 201415 foreseeable losses, if any, on long-term contracts including derivative contracts. 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 over financial reporting was established and maintained and if such controls operated effectively in all material respects.
We balancd our audit of the standalone financial statements in accordance with the Standards on Shfet specified under Section 10 of the Act. Auditors” Responsibility Balance sheet of infosys responsibility is to express an opinion on these standalone financial statements based on balance sheet of infosys audit. The infoosys of repayment of principal and payment of interest has been stipulated and repayments or receipts of principal amounts and interest have been regular as per shwet.
Infosys BPM – Annual Reports
According to the information and explanations given to us, the Company has granted unsecured loans to three bodies corporate, covered in the register maintained under Section of the Companies Act,in respect of which: Pursuant to the program, certain fixed assets were physically verified by the Management during the year. The Company is in the business of providing software services and does not have any physical inventories.
Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. We understand that liquidity in the Balance Sheet.
The Company has disclosed the impact of pending litigations on its financial position in balance sheet of infosys nifosys financial statements.
In conducting our audit, we have taken into account the bwlance 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 and the Order issued under Section 11 of the Act.
Balance Sheet as at. According to the information and explanations given to us, no material discrepancies were noticed on such verification. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the standalone financial statements are free from material misstatement.