ANNUAL REPORT OF INFOSYS 2007-08 PDF

Infosys investors can now download the company’s financial filings from till present. Access PDFs of annual reports, quarterly reports and Form Fs. , First Quarter Report · Second Quarter Report · Third Quarter Report. Awards for Excellence Annexure to the directors’ report Auditors’ report Consolidated financial statement Corporate governance report. Annual Report – New Game. New Rules. “One cannot manage change. One can only be ahead of it.” – Peter Drucker. In the cacophony of our.

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The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. Limitations of Internal Financial Controls over Financial Reporting Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected.

The Board of Directors of the Company is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts.

In our opinion and according to the information and explanations given to us, during the year the Company has not entered into any non-cash transactions with its directors or persons connected to its directors and hence provisions of Section of the Companies Act, are not applicable to the Company.

The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements.

Annual Report 2007-08

Our responsibility is to express an opinion on the internal financial controls over financial reporting of the Company based on our audit. Accordingly, reporting under Clause 3 ii of the Order is not applicable to the Company. 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 judgments and estimates that are reasonable infksys 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 the standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Track Infosys on the go with the money control app. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company 2. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.

In our opinion, to the best of our information and according to the explanations o to us, the Company has, in all material respects, an adequate internal financial controls repkrt over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31,based on the internal control over financial reporting criteria established by the Company considering the essential components of infoshs control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the standalone financial statements are anbual from material misstatement. Fo to the information and explanations given to us, the records examined by us and based on the examination of the conveyance deeds provided to us, we report that, the title deeds, comprising all the immovable properties of land and buildings which are freehold, are held in the name of the Company as at the Balance Sheet date.

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Thus reporting under Clause 3 vi of the order is not applicable to the Company vii. The Company has not raised moneys by way reporf initial public offer or further public offer including debt instruments or term infosyw and rpeort reporting under Clause 3 ix of the Order is not applicable to the Company.

According to the information and explanations given to us, in respect of statutory dues:. Pursuant to the program, certain fixed assets were physically verified by the Management during the year.

According to the information and explanations given to us, the Company has granted unsecured loans to three bodies corporate, covered in the register maintained under Section of the Companies Act,in respect of which:. We conducted our audit of the standalone financial statements in accordance with the Standards on Auditing specified under Section 10 of the Act.

Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk.

In our opinion and according to the information and explanations given to us, the Company is in compliance with Section and of the Companies Act, where applicable, for all transactions with the related parties and the details of related party transactions have been disclosed in the standalone financial statements as required by the applicable accounting standards. The Company has not accepted deposits during the year and does not have any unclaimed deposits as at March 31, and therefore, the provisions of the clause 3 v of the Order are not applicable to the Company.

Accordingly, reporting under Clause 3 ii of the Order is not applicable to the Company iii. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31,and its profit, total comprehensive income, the changes in equity and its cash flows for the year ended on that date.

The Company has not raised moneys by way of initial public offer or further public offer including debt instruments or term loans and hence reporting under Clause 3 ix of the Order is not applicable to the Company x. According to the information and explanations given to us, in respect of statutory dues: In respect of immovable properties of land and building that have been taken on lease and disclosed as fixed assets in the standalone financial statements, the lease agreements are in the name of the Company.

The Company is in the business of providing software services and does not have any physical inventories. The Company has a program of verification to cover all the items of fixed assets in a phased manner which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets.

The Company is not a nidhi company and hence, reporting under Clause 3 xii of the Order is not applicable to the Company xiii. To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company or no material fraud on the Company by its officers or employees has been noticed or reported during the year. According to the information and explanations given to us, the Company has granted unsecured loans to three bodies corporate, covered in the register maintained under Section of the Companies Act,in respect of which: Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness.

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The schedule of repayment of principal and payment of interest has been stipulated and repayments or receipts of principal amounts and interest have been regular as per stipulations. Management”s Responsibility for Internal Financial Controls The Board of Directors of the Company is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

According to the information and explanations given to us, no material discrepancies were noticed on such verification. There is no overdue amount remaining outstanding as at the year-end. April 13, Membership number: Quick Links for infosys.

Infosys Ltd – Annual Report | UN Global Compact

Auditor”s Responsibility Our responsibility is to express an opinion on the internal financial controls over financial reporting of the Company based on our audit. In our opinion and according to the information and explanations given to us, the Company has complied annaul the provisions of Sections and of the Act in respect of grant of loans, making investments and annuall guarantees and securities, as applicable.

Opinion In our opinion, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31,based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the standalone financial statements.

The Company is not a nidhi company and hence, reporting under Clause 3 xii of the Order is not applicable to the Company. The maintenance of cost records has not been specified by the Central Government under Section 1 of the Companies Act, for the business activities carried out by the Company.

During the year, the Company has not made any preferential allotment or private placement of shares or fully or partly paid convertible debentures and hence, reporting under Clause 3 xiv of the Order is not applicable to the Company. Y to F. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31,and its profit, total comprehensive income, the changes in equity and its cash flows for the year ended on that date.

Dion Global Solutions Limited.

Quarterly and Annual Reports – Investors | Infosys

Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporh may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Ramesh Ben g aluru partner April 13, Membership number: There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively infosy all material respects.