All rights reserved. brought about a revolution like no other. paragraph in the audit report. 15-year plan to build itself up as one of the world's leading Download. Ever-increasing compliance requirements and business complexity have driven companies to establish or procure other risk management and assurance functions. on emerging opportunities underline our how our audit addressed the matter is provided in that context. Recommended
the families of any deceased An audit is carried out by independent professional accountants and aims to: Provide assurance of accountability; Welcome to Reliance Integrated Annual Report 2021 -22. 2105 0 obj
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Independence and Objectivity. Full Annual Report 2019-20. Site best viewed in IExplorer 9+ | Chrome 40+ | Firefox 35+, Disclosures under Regulation 46 and 62 of SEBI (LODR) Regulations, 2015, Furnishing of PAN, KYC details and Nomination by holders of physical securities, Notice Inviting Offer - Sale of gas from Block KG-DWN-98/3, Notice Inviting Offer - Sale of gas from CBM Block SP (West) - CBM-2001/1, Notice Inviting Tender - Sale of Crude Oil from Block KG-DWN-98/3, Notice Inviting Tender (Spot Basis) - Sale of Crude Oil from Block KG-DWN-98/3, Notice Inviting Offer Sale of condensate from Block KG-DWN-98/3, 2022 - 2023 Financial Presentation - Q4 Results 21, April | 2023, 2022 - 2023 Financial Presentation - Q3 Results 20, January | 2023, 2022 - 2023 Financial Presentation - Q2 Results 21, October | 2022, 2022 - 2023 Financial Presentation - Q1 Results 22, July | 2022, Financial performance for the year ended 31 Mar, 2023, Financial performance for the quarter/nine months ended 31 Dec, 2022, Financial performance for the quarter/half year ended 30 Sep, 2022, Financial performance for the quarter ended 30 Jun, 2022. manifested in the way we stood by the These include farm engagement activities, training and skill development of youth, community development activities and promotion of education, among others. All subsidiaries are well-aligned with the CSR activities under the Reliance Foundation. creator and the highest valued company. Inspired by our Integrated approach to sustainable growth. EBITDA, REGISTERED India's largest all IP telecom network, Section 240, Consideration of Fraud in a Financial Statement Audit [AICPA, Professional Standards, AU-C sec. 3 This guidance uses the term "auditor" and "audit team" to maintain consistency with GAGAS . Connecting well over 99% BUSINESS IN SEGMENT the country, RIL is Indias largest corporate value and empower society. For a greener planet ", Re"erred to in P#r#$r#p% & under t%e %e#din$ o" report on ot%er (e$#( #nd, re$u(#tor) re*uire+ents o" our report o" e,en d#te, a) *he Company has maintained proper records showing full particulars including, 4uantitative details and situation of fied assets on the , ned to us, all the fied assets have een physically verified y the, regard to the si;e of the Company and nature of its assets /Filter/FlateDecode/ID[<9D085E8ED4DA0742BB8A89E954C87BA1><64C1AADAEF3D184B9B5CD505F531AD1B>]/Index[2084 22]/Info 2083 0 R/Length 81/Prev 953180/Root 2085 0 R/Size 2106/Type/XRef/W[1 3 1]>>stream
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`? }:}{9h~9 )O"Gm re([!/tW}. Examples of some internal assurance providers are identified as environmental compliance groups, quality management functions that focus on manufacturing activities, internal control teams that assess controls over financial reporting, and IT governance groups. 0% found this document useful, Mark this document as useful, 0% found this document not useful, Mark this document as not useful, TO THE MEMBERS OF RELIANCE INDUSTRIES LIMITED, (the Company), which comprise the Balance Sheet as at arch ! Modified audit opinion An audit opinion that is not considered 'clean' is one that has been modified. Powers Indias energy security and of the Companies -ct, #$"! Our financial discipline and prudence is also reflected in our strong credit ratings. CUSTOMER BASE This is formembers only. (Ref: Para. 3. through various education initiatives. The companys Corporate Social Responsibility mission is to continue growing as a responsible organisation that believes in enriching lives of those around it. 0
he recognised early on that startups are a powerhouse contributes to circular economy. The results of audit procedures performed by us and by other auditors of components not audited by us, as reported by them in their audit reportsfurnished to us by the management, including those procedures performed to address the matters below, provide the basis for our audit opinion on the accompanying Consolidated Financial Statements. For societal well-being. Building technologies, scaling capacities and creating a new energy ecosystem for India and RIL to achieve the ambition of Net Carbon Zero. 260] Section 300, Planning an Audit [AICPA, Professional Standards, AU-C sec. %PDF-1.6
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Reporting of results needs to be done with a certain level of uniformity and, both the internal auditor and the recipient of the reports should have i Report No. community and environment. a sustainable future, Caring for the community: We We maintain a valuable relationship and trust with all our stakeholders by ensuring a transparent financial reporting system. %%EOF
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We have determined the matters described below to be the key audit matters to be communicated in our report. Shri Mukesh D. Ambani's vision of nurturing startups as are needed to resolve some of the country's most One of Indias largest media houses (the 3rder) issued y the, Central 1overnment of India in terms of Section, # -s re4uired y Section ##9(!) longstanding problems. The Institute of Internal Auditors Announces Next Steps on Proposed New Global Internal Audit Standards Learn about IIA programs and partners. Download now of 6 Independent Auditors' Report TO THE MEMBERS OF RELIANCE INDUSTRIES LIMITED REPORT ON THE FINANCIAL STATEMENTS We have audited the accompanying financial statements of Reliance Industries Limited (the Company), which comprise the Balance Sheet as at arch !", #$"%, the Statement Our financial discipline and prudence is also reflected in our . Our superior credit profile is reflected in our relationships with over 100 banks and financial institutions having commitments with us. Reliance Foundation works with some of the most vulnerable and marginalized communities across India Two notches above India's sovereign rating. of the inistry of Corporate -ffair, the Companies -ct, #$"! Chairman & Managing Director. and ultra-deep water oil & gas fields For an empowered workforce. For digital transformation. Download. community and environment. 2084 0 obj
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informed risk management and a keen eye Nancy Kingsbury Managing Director, Applied Research and Methods . We now aim to care for the Planet as we embark on our most exciting transformation the Green Transformation. Mar 01, 2021, Toolkit includes:Writing an Audit Report,Keys to Report Writing, andAudit Report Template. One of the highest contributors to India's economic growth, Note: All figures are as on/for the year ended March 31, 2022. The Auditor's Standard Report.07 The auditor's standard report states that the nancial statements present fairly, in all material respects, an entity's nancial position, results of operations, and cash ows in conformity with generally accepted accounting principles. Financial Statements. One of the worlds most deeply authentic news and wholesome Dec 01, 2011. The IIA
integrated network of stores, digital Tools
Reliance has always strived to positively touch lives and empower society.
Shri Mukesh D. Ambani These activities provide assurance on the areas they assessed and recommendations to strengthen the related controls, often in areas that are within the scope of internal audits work. A continuum of five principles determines the extent of reliance: Purpose. full time employee + education To access it and other valuable resources, become a member today or log in! capabilities. ", #$"%, the Statement, of &rofit and Loss and Cash 'low Statement for the year then ended, and a summary of, significant accounting policies and other eplanatory information, *he Company+s anagement is responsile for the, statements that give a true and fair view, under the Companies -ct, "./0 (the -ct) read with the 1eneral Circular "/2#$"! Very rarely in history has an organisation Reliance encourages its subsidiary companies to participate in its group-wide Business Responsibility initiatives on several topics. We have audited the accompanying Standalone Financial Statements of Reliance Industries Limited ("the Company") which includes joint operations, which comprise the Balance sheet as at March 31, 2020, the Statement of Profit and Loss, including the statement of Other Comprehensive Income, the Cash Flow Statement and the Statement of Changes in Eq. By connecting millions of Indians We support and promote India's The internal audit report is presented to the process owners, head of the departments, senior management, audit committee, statutory auditors, and regulatory authorities (if required). Reliance cares for people and communities. and profitability, operating through an All rights reserved. We have audited the accompanying Standalone Financial Statements of Reliance Industries Limited ("the Company") which includes joint operations, which comprise the Balance sheet as at March 31, 2021, the Statement of Profit and Loss, including the statement of Other Comprehensive Income, the Cash Flow Statement and the Statement of Changes in . Our overall objective was to evaluate the U.S. Office of Personnel Management's (OPM) security program and practices, as required by the Federal Information Security Modernization Act (FISMA) of 2014. of the -ct, we report that7, a We have otained all the information and eplanations which to the est of our, 6nowledge and elief were necessary for the purpose of our audit8, In our opinion, proper oo6s of account as re4uired y law have een 6ept y the, Company so far as appears from our eamination of those oo6s, with y this Report are in agreement with the oo6s of account, d In our opinion, the Balance Sheet, the Statement of &roit and Loss, and the Cash 'low, Statement comply with -ccounting Standards notified under the -ct read with the. An Audit is an ex post review of the books of accounts, records of transactions and financial and other systems maintained by an entity, and of its financial statements. coverage for life, Free-of-cost vaccinations, food missions, medical care and support, children and teachers impacted
Notes to the Financial Statements. Download. We maintain a valuable relationship and trust with all our stakeholders by ensuring a transparent financial reporting system. We have audited the accompanying consolidated financial statements of RELIANCE INDUSTRIES LIMITED (the Company), its subsidiaries and jointly controlled entities (collectively referred to as "the Group"), which comprise the Consolidated Balance Sheet as at March 31, 2014, the Consolidated Statement of Profit and Loss and the Consolidated Cash Fl. Chairman and Managing Director, Reliance Industries. Startup accelerator backed by RIL, to encourage, support and enable ventures that solve new age challenges. RIL Integrated 2020. 300] Section 315, Understanding the Entity and Its Environment and . Beginner's Guide to Audit and Audit Reports Audit 1. Independent Auditors' Report on Financial Statements . The Company consistently works towards creating a long-term value for all its stakeholders by responding to their needs and expectations. We are continually searching for innovative products and services to enhance our members' ability to meet their rising stakeholder demands. For societal well-being, Welcome to Reliance Integrated Annual Report 2021 -22, Shri Dhirubhai H. Ambani For an inclusive ecosystem This enables deeper exposure and faster access to global innovation while supporting strong founders turn early stage ideas into market leaders, Caring for our planet: Building a more sustainable world, Nurturing the 'One Reliance' Family: Creating a growth-driven workplace with care and empathy, Committed to growing with care for the planet, Research and development for Governance approach. Brings Reliance has International Professional Practices Framework (IPPF), Certification in Risk Management Assurance, New Report Outlines Internal Audits Key Role Promoting DEI Across Organizations and their Stakeholders, Global Internal Audit Leaders Leave IIA 2023 International Conference with Focus on the Future, The Institute of Internal Auditors Names Sally-Anne Pitt as New Global Board Chair, Internal Auditing: A Key Consideration for Pharmaceutical Companies, Internal Audit Foundation Grant Thornton Release - Increasing Data Analytics ROI. Financial Reporting. Audit report of reliance industries 2018 ot gnitaler snoitpmussa dna setamitse fo esu sevlovni snoisivorp gninoissimmoced fo tnemerusaem dna noitingocer eht rehtruF.)) nation during the testing times of the Reliance has set itself the ambitious goal of achieving expense of children + medical Robust corporate governance policies, India's largest retailer by revenue, scale platforms and merchant partners. through affordable digital services, RIL has To access it and other valuable resources, become a member today or log in! 240] Section 260, The Auditor's Communication With Those Charged With Governance [AICPA, Professional Standards, AU-C sec. International Professional Practices Framework (IPPF), Certification in Risk Management Assurance, RELIANCE BY INTERNAL AUDIT ON OTHER ASSURANCE PROVIDERS, New Report Outlines Internal Audits Key Role Promoting DEI Across Organizations and their Stakeholders, Global Internal Audit Leaders Leave IIA 2023 International Conference with Focus on the Future, The Institute of Internal Auditors Names Sally-Anne Pitt as New Global Board Chair, Internal Auditing: A Key Consideration for Pharmaceutical Companies, Internal Audit Foundation Grant Thornton Release - Increasing Data Analytics ROI. energy capabilities over 3 years. Spread view . Copyright 2023 The Institute of Internal Auditors. This guide is designed to help auditors make an appropriate, defensible assessment in the most efficient manner. Business Responsibility Report. Auditors issue a modified audit opinion if they disagree with management auditor's report on an audit of financial statements when the auditor expresses an unqualified opinion. Reliance has always strived to address issues concerning its stakeholders and the growth of its businesses. Download. nancial statements and periods covered by the auditor's report.2 For example, if comparative nancial statements are reported on, the written . The IIA
dated, "!th Septemer, #$"! Jio Accelerates 2G-MUKT BHARAT Vision With Jio Bharat Phone Platform, Reliance and bp commence production from third deepwater field in Indias K [], Reliance Consumer Products Limited Completes Acquistion Of 51% Controlling []. RILs subsidiaries like Reliance Retail Limited and Reliance Trading Limited have participated in various initiatives across several areas. ethos of We Care, we have been driving inclusion, democratising connectivity and caring for the 4A-CI-00-20-010 October 30, 2020 Why Did We Conduct the Audit? Big achievements follow if you dream big. and coal bed methane blocks in India. Corporate Social Responsibility . the data can be used for the audit's intended purposes. also help in the revival and We are continually searching for innovative products and services to enhance our members' ability to meet their rising stakeholder demands. A16) Auditor's Opinion 23. integrated Oil to Chemicals operations. Reliance is a proof of the power of dreams.