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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This responsibility also includes maintenance of adequate ibfosys 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 and prudent; and design, implementation and maintenance ibfosys 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.

Our responsibility is to express an opinion on these standalone financial statements based on our reporh. In conducting our audit, we have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under and the Order issued under Section 11 of the Act.

We conducted our audit of the standalone financial statements in accordance with the Standards on Auditing specified under Section 10 of the Act.

Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether anunal standalone financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence repport the amounts and the disclosures in the standalone financial statements. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.

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 infowys 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 infosy cash flows for the year ended on that date.

The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements. The Company has made provision, teport required under the applicable law or accounting standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts.

There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company. 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, Our responsibility is to express an opinion on the internal financial controls over financial reporting of the Company based on our audit.

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 in all material respects.

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.

Quarterly & Annual Reports

Our audit of internal financial 200-708 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.

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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.

Infisys, 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 reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

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 infossy 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.

The Company has lnfosys proper records showing full particulars, including quantitative details and situation of fixed assets. 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 repoet assets. 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, no material discrepancies were noticed on such verification. According to the information and explanations infosus to us, the records examined by us and iinfosys 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 if freehold, are held in the name of the Company as at the Balance Sheet date. 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 annial inventories. Accordingly, reporting under Clause 3 ii of the Order is not applicable to the Company. 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:.

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 reporh.

In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of Sections and of the Act in respect of grant of loans, making investments and providing guarantees and securities, as applicable. 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.

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.

Thus reporting under Clause 3 vi of the order is not applicable to reprot Company. According to the information and explanations given to us, in respect of statutory dues:. The Company has not taken any loans or borrowings from financial institutions, banks and government or has not issued any debentures. Hence reporting under Clause 3 viii of the Order is not applicable to the Company.

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 ihfosys ix of the Order is not applicable to the Company. 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.

Infosys – Annual Report – Think Flat

innfosys The Company is not a nidhi company and hence, reporting under Clause 3 xii of the Order is not applicable ijfosys the Company. 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 off related party transactions have been disclosed in the standalone financial statements as required by the applicable accounting standards.

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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.

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.

Annual Report 2007-08

Ben g aluru partner. April 13, Membership number: Track Infosys on the go with the money control app. Auditors” Responsibility Our responsibility is to express an opinion on these if financial statements based on our audit. 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.

There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company 2. Management”s Responsibility for Internal Financial Controls The Board of Directors of the Company is responsible for establishing and maintaining imfosys 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 Or.

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. Limitations of Internal Financial Controls over Financial Reporting Because of the inherent limitations inffosys 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.

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.

Accordingly, reporting under Clause 3 ii of the Order is not applicable to the Company iii.

Infosys Ltd – Annual Report | UN Global Compact

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: There is no overdue amount remaining outstanding as at the year-end. Thus reporting under Clause 3 vi of the order is not applicable to aannual Company vii. According to the information and explanations given to us, in respect of statutory dues: Y to F. 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.

The Company is not a nidhi company and hence, reporting under Clause 3 xii of the Order is not applicable to the Company xiii.

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 infoays Company xv.

In our opinion and according to the information and explanations given to repott, 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 xvi. Ramesh Ben g aluru partner April 13, Membership number: Dion Global Solutions Limited.

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