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Fourth Generation Information Systems Ltd.

BSE: 532403 Sector: IT
NSE: N.A. ISIN Code: INE739B01039
BSE 00:00 | 14 Oct 2.85 0.05
(1.79%)
OPEN

2.80

HIGH

2.85

LOW

2.80

NSE 05:30 | 01 Jan Fourth Generation Information Systems Ltd
OPEN 2.80
PREVIOUS CLOSE 2.80
VOLUME 1315
52-Week high 4.40
52-Week low 2.70
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.80
CLOSE 2.80
VOLUME 1315
52-Week high 4.40
52-Week low 2.70
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Fourth Generation Information Systems Ltd. (FOURTHGEN) - Auditors Report

Company auditors report

To

Board of Directors of

M/s. Fourth Generation Information Systems Limited

We have Audited the accompanying statement financial results of M/s. Fourth GenerationInformation Systems Limited ('the Company') for the Quarter ended 31st March 2020 and theYear to date results for the period from 1st April 2019 to 31st March 2020 attachedherewith being submitted by the Company pursuant to the requirement of Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended{"Listing Regulation"}

In our opinion and to the best of our information and according to the explanationsgiven to us these financial results:

(i) Are presented in accordance with the requirements of Regulation 33 of the ListingRegulations in this regards ; and

(i) Gives a true and fair view in conformity with the recognition and measurementprinciples laid down in the applicable accounting standards and other accountingprinciples generally accepted in India of the net profit/loss and other comprehensiveincome and other financial information for the quarter ended 31" March 2020 and theyear to date results for the period from 1st April 2019 to 31st March 2020

Basis of Opinion

We conducted our audit of the financial statements in accordance with the Standards onAuditing (SAs) specified under Section 143(10) of the Act. Our responsibilities underthose Standards are further described in the Auditor's Responsibilities for the Audit ofthe Financial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Companies Act 2013 and the Rules thereunder and we have fulfilled our other ethical responsibilities in accordance with theserequirements and the Code of Ethics. We believe that the audit evidence we have obtainedis sufficient and appropriate to provide a basis for our opinion

Management's Responsibility for the Financial Statements

These quarterly financial results as well as the year to date financial results havebeen prepared on the basis of the interim financial statements. The Company's Board ofDirectors is responsible for the preparation of these financial results that give a trueand fair view of the net profit/loss and other comprehensive income and other financialinformation in accordance with the recognition and measurement principles laid down inIndian Accounting Standard 34 ‘Interim Financial Reporting' prescribed under Section133 of the Act read with relevant rules issued there under and other accounting principlesgenerally accepted in India and in compliance with Regulation 33 of the ListingRegulations.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the financial statements management is responsible for assessing theCompany's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so. Those Board of Directors are also responsible for overseeing theCompany's financial reporting process.

Auditor's Responsibility

Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements.

As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financialstatements whether due to fraud or error design and perform audit procedures responsiveto those risks and obtain audit evidence that insufficient and appropriate to provide abasis for our opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error as fraud may involve collusionforgery intentional omissions misrepresentations or the override of internal control.

• Obtain an understanding of internal financial controls relevant to the audit inorder to design audit procedures that are appropriate in the circumstances but not forthe purpose of expressing an opinion on the effectiveness of the company's internalcontrol.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by Board of Directors.

• Conclude on the appropriateness of Board of Director's use of the going concernbasis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast significant doubt on theCompany's ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the financial statements or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor's report. However future events or conditions may cause the Companyto cease to continue as a going concern.

• Evaluate the overall presentation structure and content of the financialstatements including the disclosures and whether the financial statements represent theunderlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the Financial Results ofthe company to express an opinion on the Financial Results.

We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards.

For NSVR & ASSOCIATES LLP
Chartered Accountants
FRN: 008801S/S200060
SD/-
CA.N.SRINIVASU
Partner
M.No.209453
UDIN: 20209453AAAAAV2044
Place: Hyderabad.
Date: 29.06.2020

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