Download AGM-2 - Maharashtra Bridge Association

S P C M & Associates
Chartered Accountants
INDEPENDENT AUDITOR’S REPORT
To,
The Members of MAHARASHTRA BRIDGE ASSOCIATION
We have audited the accompanying financial statements of MAHARASHTRA BRIDGE ASSOCIATION,
which comprise of the balance sheet as at 31st March, 2015 and the Income and Expenditure Account
for the year ended on that date.
Management’s Responsibility for the financial statements
The association’s managing committee is responsible for the preparation of these financial statements
in accordance with applicable statutes including The Bombay Public Trusts Act , 1950.This responsibility
includes design, implementation and maintenance of internal control relevant to the preparation of the
financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with standards of auditing issued by Institute of Chartered
Accountant of India. Those standards require that we comply with the ethical requirement and plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free from
material misstatement. An audit involves performing procedure to obtain audit evidence about the
amount and disclosures in the financial statements. The procedure selected depends on the auditor’s
judgment, including the assessment of risks of material misstatement of the financial statements,
whether due to fraud or error. In making those risk assessment, the auditor considers internal control
relevant to the trusts preparation and fair presentation of the financial statements in order to design
audit procedures that are appropriate in the circumstances. An audit also include evaluating the
appropriateness of accounting policies used and the reasonableness of the accounting estimates made
by the management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.
Basis for Qualified Opinion
The transaction/balances in respect of following accounts have been debited to profit and loss
account as the following accounts have been eliminated:
Particulars
1)
2)
3)
4)
Bank of India – Pune
Bank of India – Thane
Dena Bank –Thane
Interest Accrued and due
Balance as per Last Balance Sheet
Rs. 25/Rs. 677.62/Rs.781/Rs. 5854/-
Qualified Opinion
In our opinion and to the best of our information and accounting to the explanations given to us, except
the effects of the matters described in the “Basis for Qualified Opinion” paragraph, the financial
statements of MAHARASHTRA BRIDGE ASSOCIATION for the year ended 31st March, 2015 are prepared ,
in all material respects, in accordance with applicable statutes including The Bombay Public Trusts Act,
1950.
Other Reporting Responsibility
Our reports on the matter required to be reported by the The Bombay Public Trusts Act, 1950 and the
rules there under is attached at Annexure A.
For SPCM & Associates
Chartered Accountants
ICAI FRN No. 112165W
CA Pradeep Katariya
Partner
Memb No. 038607
Place: Pune
Date: 02/09/2015