BPCL Auditors

Hi I am interested in having the information about Bharat Petroleum Corporation Limited financial statement auditors report for the year ending 31st March 2016?

The accompanying standalone financial articulations of Bharat Petroleum Corporation Limited which contain the Balance Sheet as at March 31 2016 the Statement of Profit and Loss the Cash Flow Statement for the year then finished and an outline of critical bookkeeping strategies and other explanatory information.

Management’s Responsibility for the Standalone Financial Statements

The duty likewise incorporates support of adequate accounting records as per the arrangements of the Act for protecting of the assets of the Corporation and for counteracting and identifying fakes and other irregularities; determination and use of fitting bookkeeping approaches; making judgments and assessments that are sensible and reasonable; and plan usage and maintenance of sufficient inward monetary controls that were working viably for ensuring the precision and culmination of the bookkeeping records pertinent to the preparation and presentation of the standalone money related proclamations that give a genuine and fair see and are free from material misquote whether because of misrepresentation or mistake.

Auditor’s Responsibility

Led the review as per the Standards on Auditing issued by the Institute of Chartered Accountants of India as determined under Section 143(10) of the Act. Those Standards require that we agree to moral necessities and arrange and perform th eaudit to get sensible affirmation about whether the standalone budgetary articulations are free from material misquote.

A review includes performing techniques to get review prove about the sums and disclosures in the standalone budgetary proclamations. The methods chose rely on upon the auditors' judgment including the appraisal of the dangers of material misquote of the standalone monetary proclamations whether because of misrepresentation or blunder.

Give an account of Other Legal and Regulatory Requirements

(1) As required by the Companies (Auditor's Report) Order 2016 ("theOrder") issued by the Central Government of India as far as sub-segment (11) ofSection 143 of the Act we give in the "Annexure An" an announcement on the mattersspecified in the sections 3 and 4 of the Order to the degree appropriate.

(2) As required by Section 143(5) of the Act we give in "Annexure B" astatement on the matters indicated by the Comptroller and Auditor-General of India for the Corporation.

(3) As required by Section 143(3) of the Act we report that:

a. have looked for and acquired all the data and clarifications which to the bestof our insight and conviction were fundamental for the motivations behind our review;

b. As auditors would like to think legitimate books of record as required by law have been kept by the Corporation so far as it shows up from our examination of those books;

c. The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statement dealt with by this Report are in concurrence with the books of record;

d. As auditors would like to think the previously mentioned standalone budgetary articulations agree to the Accounting Standards determined under Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014;

e. In perspective of exclusion given vide notice no. G.S.R. 463(E) dated June 5 2015issued by Ministry of Corporate Affairs arrangements of Section 164(2) of the Act regarding disqualification of Directors are not material to the Corporation;

f. Concerning the ampleness of the inward money related controls over financial reporting of the Corporation and the working viability of such controls give separate report in "Annexure C";

g. As for alternate matters to be incorporated into the Auditors' Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in opinion and to the best of the data and as indicated by the clarifications given to us:

i. The Corporation has unveiled the effect of pending prosecutions on its financial position in its standalone money related proclamations - Refer Note 49 of the standalone financial articulations;

ii. The Corporation has made arrangement as required under the pertinent law or accounting norms for material predictable misfortunes if any on long haul contracts including subordinate contracts - Refer Note 50 of the standalone budgetary proclamations;

iii. There has been no deferral in exchanging sums required to be exchanged to the Investor Education and Protection Fund by the Corporation.

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