HINDUSTAN UNILEVER ANNUAL REPORT 2011-12 PDF

Hindustan Unilever Limited Annual Report Annual Report, , Overview, Financial Highlights and Brands, Financial Performance, Performance . Get Hindustan Unilever latest Balance Sheet, Financial Statements and Hindustan Unilever detailed profit and loss accounts. 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), .. , , , , ,

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In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets. The disclosures rfport 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 An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the hiindustan Ind AS financial statements.

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 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 hundustan the Institute of Chartered Accountants of India ICAI.

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.

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 2011-2 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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Accordingly, paragraph annual xv of the Order is not applicable to the Company. Accordingly, paragraph 3 viii of the Order is not applicable to the Company. 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. 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.

The Company has disclosed the impact of pending litigations on its financial uinlever in its standalone Ind AS financial statements – Annusl Note 24 to the hindustah Ind AS financial statements.

The Company has complied with hihdustan provisions of Section of the Act in respect of investments made or loans or guarantee or security provided to the parties covered under Section 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.

Quick Links for hindustanunilever. 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.

Hindustan Unilever

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.

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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 According annal the information and explanations given to us, no undisputed amounts payable in respect of provident fund, employees state insurance, income tax, sales tax, service tax, goods and service tax, duty of customs, duty of excise, value added tax, cess, professional tax and other material statutory dues were in arrears as at 31 March for a period of more than six months from the date they became payable.

As required by the Companies Auditor”s Report Order, the Orderissued by the Central Government in terms of Section 11 of the Ihndustan, we give in Annexure A a statement on the matters specified in paragraphs 3 and 4 of the Order. 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.

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. Our conclusions are based on the audit evidence obtained up to the date of the auditor”s report.

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.

Accordingly, paragraph 3 xii of the Order is not applicable to the Company. However, we have not made a detailed examination of the records. Accordingly, paragraph 3 xvi of the Order is not applicable to the Company.

Hindustan Unilever Balance Sheet, Hindustan Unilever Financial Statement & Accounts

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 unioever 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 ix of the Order is not applicable to the Company. The discrepancies noticed on verification between the physical stocks hindjstan the book records were not material. 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.

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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.

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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 continue as a going concern.

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. 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.

There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

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 iii of the Order is not applicable to the Company. 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. 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 other comprehensive income, changes in equity and its cash flows for the year ended on that date.

A company”s internal financial controls with reference to financial statements includes those policies and procedures that 1 pertain to the maintenance of records that, in reasonable detail, accurately and fairly 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.

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.