Page 162 - Index

12. 13. • Conclude on the appropriateness of Board of
Directors’ 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 ability of the Group to
continue as a going concern. If we conclude that
a material uncertainty exists, we are required
to draw attention in our auditor’s report to the
related disclosures in the financial statements or,
if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor’s
report. However, future events or conditions
may cause the Group to cease to continue as a
going concern;
• Evaluate the overall presentation, structure and
content of the financial statements, including the
disclosures, and whether the financial statements
represent the underlying transactions and events
in a manner that achieves fair presentation; and
• Obtain sufficient appropriate audit evidence
regarding the financial statements of the
entities or business activities within the Group, to
express an opinion on the consolidated financial
statements. We are responsible for the direction,
supervision and performance of the audit of
financial statements of such entities included
in the financial statements, of which we are the
independent auditors. For the other entities
included in the financial statements, which have
been audited by the other auditors, such other
auditors remain responsible for the direction,
supervision and performance of the audits carried
out by them. We remain solely responsible for our
audit opinion.
We communicate with those charged with governance
regarding, among other matters, the planned scope
and timing of the audit and significant audit findings,
including any significant deficiencies in internal
control that we identify during our audit.
We also provide those charged with governance with
a statement that we have complied with relevant
ethical requirements regarding independence, and
to communicate with them all relationships and
other matters that may reasonably be thought to
bear on our independence, and where applicable,
related safeguards.
160 Annual Report 2024
Consolidated
14. From the matters communicated with those charged
with governance, we determine those matters that
were of most significance in the audit of the financial
statements of the current period and are therefore the
key audit matters. We describe these matters in our
auditor’s report unless law or regulation precludes
public disclosure about the matter or when, in
extremely rare circumstances, we determine that a
matter should not be communicated in our report
because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest
benefits of such communication.
Other Matters
15. We did not audit the financial statements of seven (7)
subsidiaries, and two (2) branches whose financial
statements reflects total assets of ` 10,373 lakhs
as at 31 December 2024, total revenues of ` 11,479
lakhs and net cash outflows amounting to ` 513 lakhs
for the year ended on that date, as considered in the
consolidated financial statements. These financial
statements have been audited by other auditors whose
reports have been furnished to us by the management
and our opinion on the consolidated financial
statements, in so far as it relates to the amounts and
disclosures included in respect of these subsidiaries
and branches, and our report in terms of sub-section
(3) of section 143 of the Act in so far as it relates to the
aforesaid subsidiaries and branches, are based solely
on the reports of the other auditors.
Further, of these subsidiaries, six (6) subsidiaries and
two (2) branches, are located outside India whose
financial statements and other financial information
have been prepared in accordance with accounting
principles generally accepted in their respective
countries and which have been audited by other
auditors under generally accepted auditing standards
applicable in their respective countries. The Holding
Company’s management has converted the financial
statements of such subsidiaries and branches
located outside India from accounting principles
generally accepted in their respective countries to
accounting principles generally accepted in India. We
have audited these conversion adjustments made by
the Holding Company’s management. Our opinion on
the consolidated financial statements, in so far as it
relates to the amounts and disclosures included in
respect of such subsidiaries and branches located
outside India, is based on the report of other auditors
and branch auditors and the conversion adjustments