#1
25th August 2015, 09:59 AM
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Punjab National Bank Auditors
Hello sir would you please provide me Auditors report of Punjab National Bank??? And if you have this report in pdf format then please provide me……
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#2
25th August 2015, 10:01 AM
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Re: Punjab National Bank Auditors Punjab National Bank Auditors Report Auditor's Report (Punjab National Bank) Year End : Mar '15 1. We have audited the accompanying Standalone financial statements of PUNJAB NATIONAL BANK (the Bank) as at 31st March, 2015, which comprise the Balance Sheet as at March 31, 2015, and Profit and Loss Account and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Incorporated in these financial statements are the returns of 20 branches audited by us and 2771 branches audited by branch auditors (including 1 off shore banking unit and 25 other offices) and 3 foreign branches audited by local auditors. The branches audited by us and those audited by other auditors have been selected by the Bank in accordance with the guidelines issued to the Bank by the Reserve Bank of India. Also incorporated in the Balance Sheet and the Profit and Loss Account are the returns from 3795 branches and 1 60 other offices of the Bank, which have not been subjected to audit. These unaudited branches and offices account for 7.04 per cent of advances, 27.63 per cent of deposits, 7.43 per cent of interest income and 28.42 per cent of interest expenses. Management''s Responsibility for the Standalone Financial Statements 2. Management of the Bank is responsible for the preparation of these financial statements in accordance with the provisions of Section 29 of the Banking Regulation Act, 1949 (the Act) and to disclose the information as may be necessary to conform to form ''A'' and form ''B'' respectively of the Third Schedule to the Act, complying with the guidelines issued by the Reserve Bank of India (RBI) in this matter from time to time and the applicable Accounting Standards (AS) issued by the Institute of Chartered Accountants of India (ICAI). This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of the Bank and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of these financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor''s Responsibility 3. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing (SA) issued by the ICAI. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. 4. An audit involves performing procedure to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Bank''s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Bank has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management of the Bank, as well as evaluating the overall presentation of the financial statements. 5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for expressing our audit opinion on these financial statements. Opinion 6. In our opinion, as shown by the books of the Bank, and to the best of our information and according to the explanations given to us: i. the Balance Sheet, read with the notes thereon is a full and fair Balance Sheet containing all the necessary particulars, is properly drawn up so as to exhibit a true and fair view of state of affairs of the Bank as at 31st March 2015 in conformity with accounting principles generally accepted in India; ii. the Profit and Loss Account, read with the notes thereon shows a true balance of profit, in conformity with accounting principles generally accepted in India, for the year covered by the account; and iii. the Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements 7. The Balance Sheet and the Profit and Loss Account have been drawn up in Forms A and B respectively of the Third Schedule to the Act, 8. Subject to the limitations of the audit indicated in paragraphs 1 to 5 above and as required by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and subject also to the limitations of disclosure required therein, we report that: a. We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit and found them to be satisfactory. b. In our opinion, proper books of account as required by law have been kept by the Bank so far as it appears from our examination of those books; c. The Balance Sheet, the Profit and Loss Account and the Cash Flow Statement dealt with by this Report are in agreement with the books of account and returns; d. The transactions of the Bank, which have come to our notice, have been within the powers of the Bank. e. The returns received from the offices and branches of the Bank have been found adequate for the purposes of our audit except in certain cases where the returns as certified by the management have been relied upon. f. In our opinion, the aforesaid standalone financial statements comply with the applicable Accounting Standards. For and on behalf of For and on behalf of For and on behalf of K. N. Gutgutia & Co. CVK & Associates Ramesh Kapoor& Co. Chartered Chartered Chartered Accountants Accountants Accountants FRN 304153E FRN 101 745W FRN 001477N B R Goyal A K Pradhan Ramesh Kapoor Partner Partner Partner M No. 012172 M No. 032156 M No. 080725 For and on behalf of For and on behalf of For and on behalf of Chhajed & Doshi R. Devendra Kumar Hem Sandeep & Co. Chartered & Associates Chartered Accountants Chartered Accountants FRN 101 794W Accountants FRN 009907N FRN 114207W M P Chhajed Neeraj Golas Manish Gupta Partner Partner Partner M No. 049357 M No. 074392 M No. 092257 May 08, 2015 Place: New Delhi Source : Dion Global Solutions Limited Here I am putting some content out side from the file….. It have audited the accompanying Standalone financial statements of PUNJAB NATIONAL BANK (the Bank) as at 31st March, 2015, which comprise the Balance Sheet as at March 31, 2015, and Profit and Loss Account and the Cash Flow Statement for the year Auditor’s Responsibility: Auditor’s Responsibility is to express an opinion on these financial statements based on our audit. Address: Auditor's Punjab National Bank Mallian Kalan, Punjab 144630 Last edited by Shaleen; 25th August 2015 at 10:03 AM. |
#3
19th February 2016, 05:39 PM
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Re: Punjab National Bank Auditors
I would like to know the auditors appointed by Punjab National bank as well as the share prices of Punjab National Bank?
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#4
19th February 2016, 05:41 PM
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Re: Punjab National Bank Auditors
Punjab National Bank has appointed Phillipos & Co., Bangalore, K N Gutgutia & Co., Kolkata, CVK & Associates, Mumbai, Ramesh Kapoor & Co., Srinagar, Borkar & Muzumdar, Mumbai and G S Madhava Rao & Co., Hyderabad as statutory central auditors of the bank for the year 2012-13. Out of the above, the first 4 firms have been appointed in place of four statutory central auditors, who have retired on completing their term. Further, Borkar & Muzumdar, Mumbai and G S Madhava Rao & Co., Hyderabad are the existing firms, who have not completed their tenure. The report presented to the president of India by the auditors cover the following aspects: 1. Report on the Financial Statements 2. Management's Responsibility for the Standalone Financial Statements 3. Auditor's Responsibility 4. Auditor's Opinion 5. Report on Other Legal and Regulatory Requirements The share prices of Punjab National Bank is as given below: BSE Dec 24, 11:51 120.45 -0.85 (-0.70%) VOLUME 204303 NSE Dec 24, 11:50 120.25 -1.05 (-0.87%) VOLUME 1792803 Please find a file below which has the information on the Share holding Pattern for the Punjab National Bank. |
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