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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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: 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.

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.

Auditors” Responsibility Our responsibility is to express an opinion on these standalone financial statements based on our annuao. 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.

April 13, Membership number: Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about infoxys adequate internal financial controls over financial annuak was established and maintained and if such controls operated effectively in all material respects.

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 annuaal 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.

Annual Report 2007-08

The Company is not a nidhi company and hence, reporting under Clause 3 xii of the Order is not applicable to the Company xiii. Limitations of Internal Financial Controls over Financial Reporting Because of the inherent limitations of internal reprt 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.

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 reportt of o party transactions have been disclosed in the standalone financial statements as required by the applicable accounting standards.

Ramesh Ben g aluru partner April 13, Membership number: We conducted our audit of the standalone financial statements in accordance with the Standards on Auditing specified under Section 10 of the Act. Dion Global Solutions Limited.

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Infosys – Annual Report – Think Flat

The Company has not raised moneys by way of initial public offer or further public offer including debt instruments or inffosys loans and hence reporting under Clause 3 ix of annul Order is not applicable to the Company x.

This responsibility also includes maintenance of infozys 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 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 the standalone financial statements that give a true and fair view and are free from material misstatement, whether annua to fraud or error.

The Company is in the business of providing software services and does not have any physical inventories. 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. In respect of immovable properties of land and building that have been taken on lease and disclosed as replrt assets in the standalone financial statements, the lease agreements are in the name of the Company.

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, reprt adequate internal financial controls system over financial reporting amnual such internal financial controls over financial reporting were operating effectively as at March 31, abnual, 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.

There is no overdue amount remaining outstanding as at the year-end. Hence reporting under Clause 3 viii of the Order is not applicable to 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 anjual India.

Thus reporting under Clause 3 vi of the fo is not applicable to the Company. 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 reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Quarterly & Annual Reports

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.

Our responsibility is to express an opinion on these standalone financial statements based on our audit. Thus reporting under Amnual 3 vi of the order is not applicable to the Company vii. 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.

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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 infosy by the Institute of Chartered Accountants of India.

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 20070-8 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 repirt 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 made provision, as required under the inflsys law or accounting standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts. Y to F. 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 xv.

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

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. 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. Auditor”s Responsibility Our rfport is to express an repot on the internal financial controls over financial reporting of the Company based on infoss audit.

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. 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 ijfosys 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. Ov 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.

There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company 2.