You are here » Home » Companies » Company Overview » Bank of Baroda

Bank of Baroda.

BSE: 532134 Sector: Financials
NSE: BANKBARODA ISIN Code: INE028A01039
BSE LIVE 15:40 | 25 Jul 164.80 0.75
(0.46%)
OPEN

165.00

HIGH

166.25

LOW

164.25

NSE 15:59 | 25 Jul 165.00 0.80
(0.49%)
OPEN

164.95

HIGH

166.20

LOW

164.30

OPEN 165.00
PREVIOUS CLOSE 164.05
VOLUME 867543
52-Week high 202.45
52-Week low 136.00
P/E 29.12
Mkt Cap.(Rs cr) 37,972
Buy Price 164.90
Buy Qty 1510.00
Sell Price 0.00
Sell Qty 0.00
OPEN 165.00
CLOSE 164.05
VOLUME 867543
52-Week high 202.45
52-Week low 136.00
P/E 29.12
Mkt Cap.(Rs cr) 37,972
Buy Price 164.90
Buy Qty 1510.00
Sell Price 0.00
Sell Qty 0.00

Bank of Baroda. (BANKBARODA) - Auditors Report

Company auditors report

To

The Shareholder of Bank of Baroda Report on the Financial Statements

1. We have audited the accompanying financial statements of Bank of Baroda as on 31stMarch 2016 which comprise the Balance Sheet as on 31stMarch 2016 and Profit and LossAccount and the Cash Flow Statement for the year then endedand a summary of significantaccounting policies and other explanatory information. Incorporated in these financialstatements are the returns of 20 branches and one Specialized Integrated Treasury Branchaudited by us 2566 branches audited by Statutory Branch Auditors and 49 foreign branchesaudited by local auditors in respective countries. The branches audited by us and thoseaudited by other auditors have been selected by the Bank in accordance with the guidelinesissued to the Bank by the Reserve Bank of India. Also incorporated in the Balance Sheetand the Profit and Loss Account are the returns from 2743 branches which have not beensubjected to audit. These unaudited branches account for 4.63 per cent of advances11.82per cent of deposits 5.63 per cent of interest income and10.58 per cent of interestexpenses.

Management's Responsibility for the Financial Statements

2. Management is responsible for the preparation of these financial statements inaccordance with the Banking Regulation Act 1949 Reserve Bank of India guidelines fromtime to time and accounting standards generally accepted in India. This responsibilityincludes the designimplementation and maintenance of internal control relevant to thepreparation of the financial statements that are free from material misstatement whetherdue to fraud or error.

Auditor's Responsibility

3. Our responsibility is to express an opinion on these financial statements based onour audit. We conducted our audit in accordance with the Standards on Auditing issued bythe Institute of Chartered Accountants of India. Those standards require that we complywith ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free from material misstatements.

4. An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal control relevant to the entity's preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion oneffectiveness of the entity's internal control. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.

6. Opinion

In our opinion as shown by books of bank and to the best of our information andaccording to the explanations given to us:-

i. The Balance sheet read with the notes thereon is a full and fair Balance Sheetcontaining all the necessary particulars is properly drawn up so as to exhibit a true andfair view of state of affairs of the Bank as on 31st March 2016 in conformity withaccounting principles generally accepted in India;

ii. The Profit and Loss Account read with the notes thereon shows a true balance ofloss in conformity with accounting principles generally accepted in India for the yearcovered by the account; and

iii. The Cash Flow Statement gives a true and fair view of the cash flows for the yearended on that date.

Report on Other Legal and Regulatory Requirements

7. The Balance Sheet and the Statement of Profit and Loss Account have been drawn up inForms "A" and "B" respectively of the Third Schedule to the BankingRegulation Act 1949.

8. Subject to the limitations of the audit indicated in paragraph1 to 5 above and asrequired by the Banking Companies(Acquisition and Transfer of Undertakings) Act 1970/1980 and subject also to the limitations of disclosure required therein we report that;

a. We have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purposes of our audit and have found them tobe satisfactory;

b. The transactions of the Bank which have come to our notice have been within thepowers of the Bank;

c. The returns received from the offices and branches of the Bank have been foundadequate for the purposes of our audit;

9. We further report that:

a. The Balance Sheet and Profit and Loss account dealt with by this report are inagreement with the books of account and returns;

b. The reports on the accounts of the branch offices audited by branch auditors of theBank under section 29 of the Banking Regulation Act 1949 have been sent to us and havebeen properly dealt with by us in preparing this report;

c. In our opinion the Balance Sheet Profit and Loss Account and Cash Flow Statementcomply with the applicable accounting standards.

For Khandelwal Jain & Co For Wahi & Gupta
Chartered Accountants Chartered Accountants
FRN : 105049W FRN: 002263N
Shailesh S Shah Anuj Gupta
Partner Partner
M.No:033632 M.No:076560
For S R Goyal & Co For Rodi Dabir & Co
Chartered Accountants Chartered Accountants
FRN:001537C FRN: 108846W
Ajay Kumar Atolia Sudhir Dabir
Partner Partner
M.No: 077201 M.No:039984
Date: 13th May 2016
Place: Mumbai