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TMI BlogProcedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entityX X X X Extracts X X X X X X X X Extracts X X X X ..... ffect from April 01, 2019. "(8) The Statutory auditor of a listed entity shall undertake a limited review of the audit of all the entities/companies whose accounts are to be consolidated with the listed entity as per AS 21 in accordance with guidelines issued by the Board on this matter". 2. Consequently, * all listed entities whose equity shares and convertible securities are listed on a recognised stock exchange, * the statutory auditors of such entities, * all entities whose accounts are to be consolidated with the listed entity and * the statutory auditors of entities whose accounts are to be consolidated with the listed entity (Referred to as 'parties to the limited review' for easy reference), shall, with respect to the aforesaid sub-regulation as applicable, comply with the following: a. Procedure: The parties to the limited review shall, as applicable, follow the procedure as given at Annex 1 to this Circular. b. Formats: i. SEBI, vide Circular No. CIR/CFD/CMD/15/2015 dated November 30, 2015, had prescribed formats for: a. Periodical Financial Results by listed entities; and b. Limited Review Reports and Audit Reports by statutory auditors of the listed e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f India (ICAI) may consider issuing necessary guidance to Chartered Accountants ensure compliance with this circular in letter and in spirit. 6. The Stock Exchanges are advised to bring the provisions of this circular to notice of the listed entities and disseminate it on their websites. 7. The circular is issued in exercise of the powers conferred under sections 11 and 11A of the Securities and Exchange Board of India Act, 1992 read with regulations 33(8) and 101 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 8. The circular is available on SEBI website at www.sebi.gov.in under the category 'Legal→Circulars'. Pradeep Ramakrishnan General Manager Compliance and Monitoring Division-1 Corporation Finance Department +91-22-26449246 [email protected] Annex 1 Procedure under Regulation 33(8) of SEBI LODR Regulations with respect to listed entities/companies 1. OBJECTIVE AND CLARIFICATIONS a. The objective of this Procedure is to ensure that the statutory auditors undertaking the audit / review of the Consolidated Financial Statements / Results of the Parent Company obtain desired information as required under the Standard on Auditi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (hereinafter referred to as SA 600) and the Guidance Note (GN) on Audit of Consolidated Financial Statements (Revised 2016) (hereinafter referred to as GN CFS) issued by the Institute of Chartered Accountants of India (ICAI) and other guidance/guidelines of the ICAI. The review of Consolidated Financial Statements / Results should be conducted in accordance with the Standard on Review Engagements (SRE) issued for the purpose by the ICAI, also to be read in conjunction with SA 600 and GN on CFS. b. Procedures under SA 600, SRE 2400/2410 and GN on CFS The Principal Auditor i.e. the auditor of the parent listed entity should plan and perform an audit to obtain sufficient and appropriate audit evidence to express an opinion on the Consolidated Financial Statements / Results. In an audit of Consolidated Financial Statements / Results, the principal auditor (as defined in SA 600) is required to perform various procedures in accordance with SA 600 and GN on CFS issued by the ICAI. The Principal Auditor should plan and perform the review to obtain moderate assurance as to whether the Consolidated Financial Statements / Results are free of material misstatement. A review is limited prim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... applicable. iv. When planning to use the work of another auditor, the principal auditor shall consider the professional competence of the other auditor in the context of the specific assignment, if the other auditor is not a member of the ICAI -SA 600 Para 11. v. Determine the nature, timing and extent of the procedures to be performed by the principal auditor. The principal auditor shall also perform procedures to obtain sufficient appropriate audit evidence, that the work of the other auditor is adequate for the principal auditor's purposes, in the context of the specific assignment. vi. Design and perform audit / review procedures on the Consolidated Financial Statements / Results arising from the special considerations relating to the consolidation process. vii. When considered necessary by the principal auditor, he may require the other auditor to answer a detailed questionnaire regarding matters on which the principal auditor requires information for discharging his duties. The other auditor should respond to such questionnaire on a timely basis. viii. While the principal auditor should consider the significant findings of the other auditor, he may consider it appropria ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... incipal auditor would inform the other auditor of matters such as areas requiring special consideration, including procedures for the identification of inter component transactions that may require disclosure. iv. The ethical and independence requirements that are relevant to the Consolidated Financial Statements/Results audit/review. v. The threshold above which misstatements, if any, in the Component's financial Statements/results cannot be regarded as immaterial to the Consolidated Financial Statements/Results. vi. A list of Related Parties prepared by Parent Company Management and work to be performed on intra-group transactions and unrealized profits and intra-group account balances. vii. Significant Risks of Material Misstatement of the Consolidated Financial Statements/Results, due to Fraud or Error, identified by the principal auditor that are relevant to the work of the other auditor. viii. A description of the accounting policies, to ensure consistent application of accounting policies across the group. ix. A request that the other auditor communicates on a timely basis any Significant Risks of Material Misstatement of the Consolidated Financial Statements / Results ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ellip;……………………. We have reviewed the accompanying statement of unaudited financial results of…………………………….. (Name of the Company) for the period ended………………………………….. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not perform ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Interim Financial Reporting, prescribed, under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder; or by the Institute of Chartered Accountants of India2, as applicable and other accounting principles generally accepted in India. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatement(s). An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion. In our opinion and to the best of our information and according to the explanations given to us these quarterly financial results as well as the year to date results: i. are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and ii. give a true and fair view of the net profit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. 4. The Statement includes the results of the following entities: (indicate list of entities included in the consolidation similar to the requirement for audited consolidated results) 5. Based on our review conducted and procedures performed as stated in paragraph 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interim financial statements / financial information / financial results reflect total assets10 of Rs.______as at and total revenues of Rs.11 and Rs. , total net profit/(loss) after tax of Rs.______ and Rs. and total comprehensive income / loss of Rs.______ and Rs. , for the quarter ended and for the period from_____ to______, respectively, and cash flows (net)12 of Rs. ____ for the period from_____ to , as considered in the consolidated unaudited financial results have not been reviewed by us. The consolidated unaudited financial results also includes the Group's share of net profit/(loss) after tax of Rs. _____and Rs. and total comprehensive income / loss of Rs. and Rs. for the quarter ended and for the period from______ to______ ,respectively, as considered in the consolidated unaudited financial results, in respect of ____associates and joint ventures, whose interim financial statements / financial information/ financial results have not been reviewed by us. These interim financial statements / financial information / financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ……………. 1. We have audited the accompanying Statement of Consolidated Financial Results of……………. ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit/(loss) after tax and total comprehensive income / loss of its associates and joint ventures for the quarter ended and for the period from_____ to______ ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended18. Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended ____ and the corresponding period from______to______, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to audit/review19. 2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been compiled from the related interim consolidated financial statements/ interim consolidated financial information which has been pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... diaries, associates and joint ventures referred to in paragraph 6 below, the Statement: a. includes the results of the following entities: (to indicate list of entities included in the consolidation); b. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and c. gives a true and fair view in conformity with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated total comprehensive income (comprising of net [profit/loss] and other comprehensive income/ loss) and other financial information of the Group for the quarter ended and for the period from_____ to______. 5. [Insert Emphasis of Matter paragraph]. Our opinion is not qualified in respect of this matter 6. We did not audit the interim financial statements / financial information/financial results of branches and _____ joint operations included in the standalone interim financial statements / financial information/ financial results of the entities included in the Group whose interim financial state ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he amounts and disclosures included in respect of these subsidiaries, associates and joint ventures, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our opinion on the Statement is not modified in respect of the above matters.26 7. The consolidated financial results includes the unaudited interim financial statements/ financial information/financial results of ______ subsidiaries , whose interim financial statements/ financial information reflect total assets27of Rs._____ _as at ______ , total revenue of Rs._____and Rs. , total net profit/(loss) after tax of Rs.______and Rs.______, and total comprehensive income/ loss of Rs.______ and Rs.______ for the quarter ended and for the period from_____ to______ respectively , and cash flows (net)28 of Rs. ____ for the period from_____ to , as considered in the consolidated financial results. The consolidated financial results also includes the Group's share of net profit/(loss) after tax of Rs. _____and Rs. and total comprehensive income of Rs. ____ and Rs.______ for the quarter ended and for the period from_____ to______, respectively, as considered in the consolida ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elated consolidated financial statements which has been prepared in accordance with the Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standards) Rules, 2015, as amended ("Ind AS"), and other accounting principles generally accepted in India. Our responsibility is to express an opinion on the Statement based on our audit of such consolidated financial statements. 3. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Companies Act 2013. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Statement is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Statement. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Parent's preparation and fair presentation of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es of Rs. , total net profit / (loss) after tax of Rs.______, total comprehensive income/ loss of Rs.______and cash flows (net)33 of Rs. for the year ended on that date, as considered in the respective standalone financial statements of the entities included in the Group. The financial statements / financial information of these branches and joint operations have been audited by the branch auditors and other auditors whose reports have been furnished to us or other auditors, and our opinion in so far as it relates to the amounts and disclosures included in respect of these branches and joint operations, is based solely on the report of such branch auditors and other auditors and the procedures performed by us as stated in paragraph 3 above. We did not audit the financial statements / financial information of ______ subsidiaries included in the consolidated financial results, whose financial statements / financial information reflect total assets of Rs. 34______ as at 31st March, 20XX, total revenues of Rs. , total net profit / (loss) after tax of Rs.______ , total comprehensive income/ loss of Rs.______and cash flows (net)35 of Rs. for the year ended on that date, as considered i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. The Statement includes the results for the quarter ended dd/mm/yyyy being the balancing figure between audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us. [Use this paragraph where the quarters were subjected to a limited review]. [OR] The Statement includes the results for the quarter ended dd/mm/yyyy being the balancing figure between audited figures in respect of the full financial year and the published audited year to date figures up to the third quarter of the current financial year. [Use this paragraph where the quarters were audited]. For XYZ & Co. Chartered Accountants Signature (Name of the member signing the audit report) (Designation)39 (Membership Number) Place of signature Date Exhibit B1: Format for the Limited Review Report for banks for unaudited standalone quarterly and year to date results Review report to We have reviewed the accompanying statement of unaudited financial results of ____ (Name of the Company) for the period ended ____. This statement is the responsibility of the Company's Management a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 TO THE BOARD OF DIRECTORS OF ………………… We have audited the quarterly financial results of………………….. (Name of the bank) for the quarter ended ……………………(date of the quarter end) and the year to date results for the period…………………. to…………………. , attached herewith, being submitted by the bank pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These quarterly financial results as well as the year to date financial results have been prepared from interim financial statements, which are the responsibility of the bank's management. Our responsibility is to express an opinion on these financial results based on our audit of such interim financial statements, which have been prepared in accordance with the recognition and measur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate results for the period from to For XYZ & Co. Chartered Accountants Signature (Name of the member signing the audit report) (Designation)3 (Membership Number) Place of signature Date Exhibit B3: Independent Auditor's Review Report on Review of Consolidated Unaudited Quarterly and Year to date Financial Results (for banks as per AS) Independent Auditor's Review Report On consolidated unaudited quarterly and year to date financial results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 TO THE BOARD OF DIRECTORS OF …………………. 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of……………….. ("the Parent"/"the Bank") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), its jointly controlled entities and its share of the net profit/(loss) after tax of its associates for the quarter ended and for the period from_____ to______ ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Li ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dicate list of entities included in the consolidation similar to the requirement for audited consolidated results) 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the branch auditors and other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Accounting Standard, RBI Guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, except for the disclosures relating to consolidated Pillar 3 disclosure as at , including leverage ratio and liquidity coverage ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been reviewed by us, or that it contains any material ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... formation / financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, jointly controlled entities and associates, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matters.50 8. The consolidated unaudited financial results includes the interim financial statements /financial information/ financial results which have not been reviewed/audited of branches included in the standalone unaudited/ audited interim financial statements/ financial information/ financial results of the entities included in the Group, whose results reflect total assets51 of Rs. ______ as at and total revenues of Rs. and Rs.______ and total net profit / (loss) after tax of Rs.______and Rs. for the quarter ended and for the period from_____ to______ respectively, and cash flows (net)52 of Rs. ____ for the period from_____ to 53 , as considered in the respective standalone unaudited/ a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hellip;.. ("the Parent"/"the Bank") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), its jointly controlled entities and its share of the net profit/(loss) after tax of its associates for the quarter ended and for the period from_____ to______ ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended58, except for the disclosures relating to consolidated Pillar 3 disclosure as at , including leverage ratio and liquidity coverage ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been reviewed/audited by us. ). Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended ____ and the corresponding period from______to______, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to audit/review59. 2. This Statement, which is the responsibility of the Parent's Management and approved by the Board of Di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to provide a basis for our audit opinion. 4. In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the other auditors on separate financial statements/ financial information of branches of the Group, subsidiaries, jointly controlled entities and associates referred to in paragraph 6 below, the Statement: a. includes the results of the following entities: (to indicate list of entities included in the consolidation); b. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, except for the disclosures relating to consolidated Pillar 3 disclosure as at , including leverage ratio and liquidity coverage ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been reviewed/audited by us; and c. gives a true and fair view in conformity with the recognition and measurement principles laid down in the aforesaid Accounting Standards, RBI Guidelines and other accounting principles general ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s / financial information/financial results have not been audited by us. These financial statements / financial information/financial results have been audited by other auditors whose reports have been furnished to us by the Management and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, jointly controlled entities and associates, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our opinion on the Statement is not modified in respect of the above matters.67 7. The consolidated financial results includes the unaudited interim financial statements / financial information/financial results of branches included in the standalone interim financial statements / financial information/ financial results of the entities included in the Group whose interim financial statements / financial information/financial results reflect total assets68 of Rs. ______ as at and total revenues of Rs. and Rs.______ and total net profit / (loss) after tax of Rs. and Rs. for the quarter ended______and for the period from_____ to______ ,res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the Group. Our opinion on the Statement is not modified in respect of the above matter.73 For XYZ & Co. Chartered Accountants Signature (Name of the member signing the audit report) (Designation)74 (Membership Number) Place of signature Date Exhibit B5: When an Unmodified Opinion is expressed on consolidated audited annual financial results (for banks as per AS) Auditor's Report On the audit of the annual financial results of the group with the last quarter financial results being balancing figures Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 TO THE BOARD OF DIRECTORS OF ……………….. 1. We have audited the accompanying Statement of Consolidated Financial Results of ……………….("the Parent"/"the Bank") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), its jointly controlled entities and its share of the net profit/(loss) after tax of its associates for the year ended dd/mm/yyyy ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ernal financial control with reference to the Statement. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. We believe that the audit evidence obtained by us and the audit evidence obtained by the branch auditors and other auditors in terms of their reports referred to in paragraph 6 below, is sufficient and appropriate to provide a basis for our audit opinion. 4. In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the other auditors on separate financial statements and the other financial information of branches of the Group, subsidiaries, jointly controlled entities and associates referred to in paragraph 6 below, the Statement: a. includes the results of the following entities: (to indicate l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The consolidated financial results also include the Group's share of net profit/loss of Rs. _____ for the year ended 31st March, 20XX, as considered in the consolidated financial results, in respect of ____associates , whose financial statements / financial information have not been audited by us. These financial statements / financial information have been audited by other auditors whose reports have been furnished to us by the Management and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, jointly controlled entities and associates, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our opinion on the Statement is not modified in respect of the above matters81. 7. The consolidated financial results includes the unaudited financial statements / financial information of……………….. branches included in the standalone financial statements of the entities included in the Group whose financial statements / financial information reflect total assets of Rs. ______ as at 31st March ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e current financial year which were subject to limited review by us. [Use this paragraph where the quarters were subjected to a limited review]. [OR] The Statement includes the results for the quarter ended dd/mm/yyyy being the balancing figure between audited figures in respect of the full financial year and the published audited year to date figures up to the third quarter of the current financial year. [Use this paragraph where the quarters were audited]. For XYZ & Co. Chartered Accountants Signature (Name of the member signing the audit report) (Designation)85 (Membership Number) Place of signature Date ------- 1 Partner or proprietor, as the case may be 2Where, a listed entity is not a company 3Whichever is applicable 4Partner or proprietor, as the case may be 5 Regulations includes relevant circulars issued by SEBI from time to time. 6 As applicable (for example, in the first financial year of a newly listed company, or when consolidated quarterly financial results are submitted for the first time pursuant to the mandatory requirement with effect from April 1, 2019, and no quarterly consolidated financial results were submitted in the previous year). 7 Figure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on Audit of Consolidated Financial Statements issued by the ICAI 25 To be given on half yearly basis from April 1, 2019 26When component's financial statements/ financial information/ financial results are not prepared under an accounting framework used by the parent or as per group accounting policies, para similar to that provided under Other Matters paragraph of Illustration 2 of Appendix I to the Guidance Note on Audit of Consolidated Financial Statements issued by the ICAI may need to be reported as required by paragraph 52 of the said Guidance Note 27Figures for total assets to be reported when balance sheet is also presented with the income statements. 28 To be given on half yearly basis with effect from April 1, 2019 29Use this paragraph only when the unaudited interim financial statements / financial information / financial results of the subsidiaries / associates/ joint ventures are not material to the Group. 30Partner or proprietor, as the case may be 31Regulations includes relevant circulars issued by SEBI from time to time. 32 As applicable (for example, in the first financial year of a newly listed company, or when consolidated quarterly financial results are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by other auditors or unaudited to be presented before giving effect to the permanent and current period consolidation adjustments as specified by paragraph 50 of the Guidance Note on Audit of Consolidated Financial Statements issued by the ICAI 49 To be given on half yearly basis with effect from April 1, 2019 50 When component's financial statements/ financial information/ financial results are not prepared under an accounting framework used by the parent or as per group accounting policies, para similar to that provided under Other Matters paragraph of Illustration 2 of Appendix I to the Guidance Note on Audit of Consolidated Financial Statements issued by the ICAI may need to be reported as required by paragraph 52 of the said Guidance Note 51 Figures for total assets to be reported when balance sheet is also presented with the income statements 52 To be given on half yearly basis with effect from April 1, 2019 53 Where applicable 54 Figures for total assets to be reported when balance sheet is also presented with the income statements. 55 To be given on half yearly basis with effect from April 1, 2019 56 Use this paragraph only when the unaudited financial statements ..... 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Group. 74Partner or proprietor, as the case may be 75Regulations includes relevant circulars issued by SEBI from time to time. 76 As applicable (for example, in the first financial year of a newly listed company, or when consolidated quarterly financial results are submitted for the first time pursuant to the mandatory requirement with effect from April 1, 2019, and no quarterly consolidated financial results were submitted in the previous year). 77In case of nationalised banks, the reference of Institute of Chartered Accountants of India be suitably specified in lieu of the reference of The Companies Act, 2013. 78 To be given on half yearly basis with effect from April 1, 2019 79All amounts, whether audited by other auditors or unaudited to be presented before giving effect to the permanent and current period consolidation adjustments as specified by paragraph 50 of the Guidance Note on Audit of Consolidated Financial Statements issued by the ICAI 80 To be given on half yearly basis with effect from April 1, 2019 81When component's financial statements/ financial information are not prepared under an accounting framework used by the parent or as per group accounting polic ..... 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