ICICI Bank 2016 Annual Report Download - page 197

Annual Report 2015-2016 195
Our opinion on the consolidated nancial statements, and our report on Other Legal and Regulatory Requirements below,
is not modied in respect of the above matters with respect to our reliance on the work done and the reports of the other
auditors and the nancial statements / nancial information certied by Management.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
1. As required by section 143 (3) of the Act, we report to the extent applicable that:
(a) we have sought and obtained all the information and explanations which to the best of our knowledge and belief
were necessary for the purpose of audit of the aforesaid consolidated nancial statements;
(b) in our opinion, proper books of account as required by law relating to presentation of the aforesaid consolidated
nancial statements have been kept so far as it appears from our examination of those books and the reports of
the other auditors;
(c) the Consolidated Balance Sheet, the Consolidated Prot and Loss Account and the Consolidated Cash Flow
Statement dealt with by this Report are in agreement with the relevant books of account maintained for the
purpose of preparation of the consolidated nancial statements;
(d) in our opinion, the aforesaid consolidated nancial statements comply with the Accounting Standards specied
under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 to the extent they are
not inconsistent with the accounting policies prescribed by the RBI and to the extent of the direction given by the
RBI in respect to the matter dealt with in the Emphasis of Matter paragraph above;
(e) on the basis of written representations received from the directors of the Holding Company as at 31 March 2016
taken on record by the Board of Directors of the Holding Company and the reports of the statutory auditors of its
subsidiary companies incorporated in India, none of the directors of the ICICI Group and its associate companies
incorporated in India is disqualied as on 31 March 2016 from being appointed as a director in terms of Section
164 (2) of the Act;
(f) with respect to the adequacy of the internal nancial controls over nancial reporting of the ICICI Group and its
associate companies and the operating effectiveness of such controls, refer our separate Report in “Annexure A”;
(g) with respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the
Companies (Audit and Auditor’s) Rules, 2014, in our opinion and to the best of our information and according to
the explanations given to us:
i. the consolidated nancial statements disclose the impact of pending litigations on the consolidated nancial
position of the ICICI Group and its associates – Refer Note 7 to the consolidated nancial statements.
ii. provision has been made in the consolidated nancial statements, as required under the applicable law or
accounting standards, for material foreseeable losses, if any, on long-term contracts including derivatives
contracts – Refer (a) Note 7 to the consolidated nancial statements in respect of such items as it relate to the
ICICI Group and its associate entities and (b) the ICICI Group’s share of net prot in respect of its associates.
iii. there has been no delay in transferring amounts, required to be transferred, to the Investor Education and
Protection Fund by the Holding Company and its subsidiaries and associate companies incorporated in India.
For B S R & Co. LLP
Chartered Accountants
Firm’s Registration No: 101248W/W-100022
Venkataramanan Vishwanath
Mumbai Partner
29 April 2016 Membership No: 113156
Independent Auditors’ Report