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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Auditors” Responsibility Balance sheet of infosys responsibility is to express an opinion on these standalone financial statements based on balance sheet of infosys audit.
Infosys Limited (INFY)
Group Risk Current term of office: 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: Infosys Annual Report K. 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.
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.
The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. 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 financial statements that give a true balance sheet of infosys fair view and are free from material misstatement, whether due to fraud or error.
An audit involves performing balance sheet of infosys to obtain audit evidence about the amounts and the disclosures in the standalone financial statements.
Opinion In our opinion and to the best of our information 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 date.
In conducting our audit, 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 and the Order issued under Section 11 of the Act.
Pursuant to the program, certain fixed assets were physically verified by the Management during the year.
Infosys Balance Sheet, Infosys Financial Statement & Accounts
According to the information and explanations given to us, no material discrepancies were noticed on such verification. 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 occur and not be balance sheet of infosys We understand that liquidity in the Balance Sheet.
According to the information and explanations given to us, the records examined by us and based 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.
Management”s Responsibility for Internal Financial Controls The Board of Directors of 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 components 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.
Accordingly, reporting under Clause 3 ii of the Order is not applicable to the Company iii. 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.
In respect balance 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. 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.
The schedule 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 stipulations.
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.
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 ibfosys 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 in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
We conducted our audit of the standalone financial statements in accordance with the Standards on Auditing specified under Infosus 10 of the Act. The Company has disclosed the impact of pending litigations on its financial position in balance sheet of infosys 214-15 financial statements.
The Company is in the business of providing software services and does not have any physical inventories. Balance Sheet as at.
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. There is no overdue amount remaining outstanding as at the year-end.
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. The Company 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.