Atul Ltd 2018-19

05. Information other than the Financial Statements and Auditor’s Report thereon a) The Board of Directors of the Company is responsible for the other information. The other information comprises the information included in the letter to shareholders, operational highlights, ǛŠîŠČĿîŕ ČĺîƑƥƙȡ 'ĿƑĚČƥūƑƙ ¤ĚƎūƑƥ îŠē Ŀƥƙ annexure, Management Discussion and Analysis, Corporate Governance Report, Business Responsibility Report, Dividend Distribution Policy and performance trend but does not include the Standalone Financial Statements, Consolidated Financial Statements and our Auditor’s Report thereon. b) Our opinion on the Standalone Financial Statements does not cover the other information and we do not express any form of assurance conclusion thereon. c) In connection with our audit of the Standalone Financial Statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the Standalone Financial Statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated. d) If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Management’s responsibility for the Standalone Financial Statements 06. The Board of Directors of the Company is responsible ljūƑ ƥĺĚ ŞîƥƥĚƑƙ ƙƥîƥĚē ĿŠ ¬ĚČƥĿūŠ ǧǩǪȳǫȴ ūlj ƥĺĚ Čƥ with respect to the preparation of these Standalone Financial Statements that give a true and fair view of ƥĺĚ ǛŠîŠČĿîŕ ƎūƙĿƥĿūŠȡ ǛŠîŠČĿîŕ ƎĚƑljūƑŞîŠČĚ ĿŠČŕƭēĿŠij ūƥĺĚƑ ČūŞƎƑĚĺĚŠƙĿǄĚ ĿŠČūŞĚȡ Čîƙĺ ǜūǅƙ îŠē ČĺîŠijĚƙ in equity of the Company in accordance with the Ind AS and other accounting principles generally accepted in India. 07. 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 judgements and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ ČūŠƥƑūŕƙȡ ƥĺîƥ ǅĚƑĚ ūƎĚƑîƥĿŠij effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. 08. In preparing the Standalone Financial Statements, Management is responsible for assessing the ability of theCompany to continue as agoing 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. The Board of Directors are also responsible for ūǄĚƑƙĚĚĿŠij ƥĺĚ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij ƎƑūČĚƙƙ ūlj ƥĺĚ Company. Auditor’s responsibility for the audit of the Standalone Financial Statements 09. Our objectives are to obtain reasonable assurance about whether the Standalone Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, ƥĺĚǋ Čūƭŕē ƑĚîƙūŠîċŕǋ ċĚ ĚǊƎĚČƥĚē ƥū ĿŠǜƭĚŠČĚ ƥĺĚ economic decisions of users taken on the basis of these Standalone Financial Statements. ǧǦȦ ƙ ƎîƑƥ ūlj îŠ îƭēĿƥ ĿŠ îČČūƑēîŠČĚ ǅĿƥĺ ¬ ƙ ƙƎĚČĿǛĚē ƭŠēĚƑ ¬ĚČƥĿūŠ ǧǪǩȳǧǦȴ ūlj ƥĺĚ Čƥȡ ǅĚ ĚǊĚƑČĿƙĚ professional judgement and maintain professional skepticism throughout the audit. We also: 109 Standalone | Independent Auditor’s Report