Universal Office Automation Ltd.
|BSE: 523519||Sector: Others|
|NSE: N.A.||ISIN Code: INE951C01012|
|BSE 00:00 | 18 Jun||3.07||
|NSE 05:30 | 01 Jan||Universal Office Automation Ltd|
Universal Office Automation Ltd. (UNIVERSALOFFICE) - Auditors Report
Company auditors report
TO THE MEMBERS OF
UNIVERSAL OFFICE AUTOMATION LIMITED REPORT ON THE IND AS FINANCIALSTATEMENTS
We have audited the accompanying Ind AS Financial Statements ofUniversal Office Automation Limited ("the Company") which comprise the BalanceSheet as at 31st March 2019 the Statement of Profit and Loss (including otherComprehensive Income) and Cash Flow Statement and the Statement of Changes in Equity forthe year then ended and a summary of the significant accounting policies and otherexplanatory information.
Management's Responsibility for the Ind AS Financial Statements TheCompany's Board of Directors is responsible for the matters stated in Section 134(5)of the Companies Act 2013 ("the Act") with respect to the preparation of theseInd AS financial statements that give a true and fair view of the state of affairs(financial position) profit or loss (financial performance including other ComprehensiveIncome) and cash flows and changes in the equity of the Company in accordance with theaccounting principles generally accepted in India including the Indian AccountingStandards(Ind AS) specified under Section 133 of the Act. This responsibility alsoincludes maintenance of adequate accounting records in accordance with the provisions ofthe Act for safeguarding the assets of the Company and for preventing and detecting fraudsand other irregularities; selection and application of appropriate accounting policies;making judgments and estimates that are reasonable and prudent; and design implementationand maintenance of adequate internal financial controls that were operating effectivelyfor ensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the Ind AS financial statements that give a true and fairview and are free from material misstatement whether due to fraud or error.
Our responsibility is to express an opinion on these Ind AS financialstatements based on our audit.
We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made there under.
We conducted our audit of Ind AS financial statements in accordancewith the Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the Ind AS financial statements are free from materialmisstatement.
An audit involves performing procedures to obtain audit evidence aboutthe amounts and the disclosures in the Ind AS financial statements. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the Ind AS financial statements whether due to fraud or error.In making those risk assessments the auditor considers internal financial controlrelevant to the Company's preparation of the Ind AS financial statements that give atrue and fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by theCompany's Directors as well as evaluating the overall presentation of the Ind ASfinancial statements.
In our opinion and to the best of our information and according to theexplanations given to us the aforesaid Ind AS financial statements give the informationrequired by the Act in the manner so required and give a true & fair view inconformity with the accounting principles generally accepted in India including the IndAS of the state of affairs (financial position) of the Company as at March31 2019 andits Profit (financial performance including other comprehensive income) and its Cash Flowsand the Changes in Equity
for the year ended on that date.
Report on Other Legal and Regulatory Requirements
A. As required by the Companies (Auditor's Report) Order 2016("the Order") issued by the Central Government of India in terms of subsection(11) of section 143 of the Companies Act 2013 we give in the Annexure A a statement onthe matters specified in paragraph 3 and 4 of the Order to the extent applicable.
B. As required by Section 143 (3) of the Act we report that:
a. we have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of our audit;
b. in our opinion proper books of account as required by law have beenkept by the Company so far as it appears from our examination of those books ;
c. the Balance Sheet the Statement of Profit and Loss the Cash FlowStatement and Statement of Changes in Equity dealt with by this Report are in agreementwith the books of account;
d. in our opinion the aforesaid Ind AS Financial Statements complywith the Indian Accounting Standards specified under Section 133 of the Act;
e. on the basis of the written representations received from thedirectors as on 31st March 2019 taken on record by the Board of Directors none of thedirectors is disqualified as on 31st March 2019 from being appointed as a director interms of Section 164 (2) of the Act.
f. With respect to the adequacy of the internal financial controls overfinancial reporting of the Company and the operating effectiveness of such controls referto our separate report in "Annexure B"; and
g. with respect to the other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)Rules 2014 in our opinion and to the best of our information and according to theexplanations given to us:
i. the Company has disclosed the impact of pending litigations on itsfinancial position in its Ind AS financial statements - Refer Note 17.2 to the financialstatements;
ii. the Company did not have any long-term contracts includingderivative contracts for which there were any material foreseeable losses.
iii. there were no amounts which were required to be transferred to theInvestor Education and Protection Fund by the Company.