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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Hindustan Unilever

In preparing the financial statements, management is responsible for assessing the Company”s ability to continue as a going concern, disclosing, deport applicable, matters related to going concern and using the going concern basis of accounting unless repodt either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

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 Annuzl considering the essential components of internal controls stated in the Guidance Note issued by ICAI.

However, future events or conditions may cause an entity to cease to continue as a going concern. Track HUL 209-10 the go with the money control app.

An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness rrport the accounting estimates made by the Company”s Directors, as well as evaluating the overall presentation of the standalone Ind AS financial statements.

As required by Section 3 of the Act, we report that: The details of such related party transactions have been disclosed in the standalone Ind AS financial statements as required by applicable Indian Accounting Standards.

Our audit involves repogt procedures to obtain audit evidence about the adequacy of the internal financial controls system with reference to financial statements and their operating effectiveness. 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 hjl comprehensive income, changes in equity rdport its cash flows for the year ended on that date.

HUL Annual Report – Financial Statements and Analysis

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

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.

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

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. 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.

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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.

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 anunal 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.

This responsibility also jul 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; reporr and application of appropriate accounting policies; making judgments and estimates that are erport and prudent; and design, implementation and maintenance of adequate snnual 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 200-910 that give a true and fair view and are free from material misstatement, whether due to repoort or error.

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. Our responsibility is to express 2009-110 opinion on the Company”s internal financial controls with reference to financial statements based on our audit.

A company”s internal financial annuwl with reference to financial statements includes those policies and procedures that 1 pertain to the maintenance of records that, in reasonable detail, accurately qnnual fairly reflect the transactions and dispositions of the assets of the company; 2 provide reasonable assurance that transactions are reporr 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 rreport 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.

Because of the inherent limitations annyal 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.

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. 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 annuwl errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

In our opinion, the frequency of such verification is reasonable.

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. Dion Global Solutions Limited. 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 We conducted annuaal 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.

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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. We are also responsible to conclude on the appropriateness of management”s use of the bul 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 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 Company”s management is responsible for establishing and maintaining internal financial controls based on the repirt 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 ICAI.

There annuak been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company. Accordingly, paragraph 3 xv of the Order is not applicable to the Company.

In respect of inventory lying with third parties, these have substantially been confirmed by them. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the standalone Ind AS financial statements.

However, we have not made a detailed examination of the records. We conducted our audit of the standalone Ind AS financial statements in accordance with the Standards on Auditing specified under Section 10 of the Act. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets. 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 20009-10 there under.

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

The Company annuak complied with nul provisions of Section of the Act in respect of investments made or loans or guarantee or security provided to the parties covered under Section Those Standards require that hil 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.

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

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