Amal Ltd 2020-21

27 – compliance with accounting standards – compliance with the stock exchanges and legal requirements concerning the Financial Statements – disclosure of any related party transactions – going concern assumption – major accounting entries involving estimates based on exercise of judgement by the Management – matters required to be included in the Directors’ Responsibility Statement for the Directors’ Report – qualifications in the draft Audit Report – significant adjustments made in the Financial Statements arising out of audit findings » with the Internal Auditors any significant findings and follow-up thereon, including findings of any internal investigations into matters where there is suspected fraud or irregularity or failure of the internal control systems of material nature and reporting such matters to the Board » financial reporting process and the disclosure of financial information to ensure that the Financial Statements are correct, credible and sufficient » compliance reports of all applicable laws as well as steps taken to rectify instances of non-compliances periodically » reasons for substantial defaults, if any, in the payment to the depositors, the debenture holders, the Members (in case of non-payment of declared dividends) and creditors » the Financial Statements, in particular, investments made by unlisted subsidiary company » the functioning of whistleblowing mechanism » the following information mandatorily: – appointment, removal and terms of remuneration of the Chief Internal Auditor – Internal Audit Reports relating to weaknesses in the internal control systems – Management Discussion and Analysis of financial condition and results of operations – management letters | letters of internal control weaknesses issued by the Statutory Auditors – statement of related party transactions submitted by the Management » with the Management the statement of uses | applications of funds raised through an issue (public issue, rights issue, preferential issue, etc), the statement of funds utilised for the purposes other than those stated