प्रशासन

लेखा परीक्षण विवरण 2012-13

To the members of the Governing Body of National Council for Hotel management & Catering Technology

Report on the Financial Statements
We have audited the accompanying financial statement of national Council for Hotel Management & Catering Technology, Which comprise the Balance Sheet as at 31th march , 2013, Income & Expenditure Account and the Statement od Receipts & Payments for the year then ended, and a summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements
The Council’s management is responsible for the preparation of these financial statements the give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards issued by the Institute of Chartered Accountants of India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with the ethical requirements and plan perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amount and the disclosures in the financial statements. The procedures select depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers the internal control relevant to the Council’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An Audit also includes 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 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.

• No provision has been made for additional Income tax liability of Rs 66,27,268 for A.Y 2005-06 and Rs 1,18,81,430 for A.Y 2010-11, Since the same are disputed by the Council before the CIT(Appeals).
• No provision has been made for any additional Income tax liability, if any that may arise at the time of assessment for AY 2011-2012 to 2013-12-amount unascertainable.
• Advance to firm amounting to Rs 62,015/- to a party in earlier years are neither got adjusted nor any provision has been made against such amount in books of accounts.(Refer Note No. B5 of Schedule 24).
• No provision has been made for Contingent Liability of Rs 50.17 Lakhs plus interest that may arise to M/S Diwan Chand civil Contractor of the NCHMCT Building at Noida as referred in Para B(1)(i) of schedule 24.
• Balances of parties account included in Current Liabilities and Loans & Advance are subject to confirmation. Reconciliation and consequent adjustments, if any
• Although Accrual accounting system has been followed but some Expenses and Income of prior period incurred during the year have shown separately in the account as referred I note No B(1)(iv) of schedule 24.

Opinion
In our opinion and the best of our information and according to the explanations given to us, except for the effects of the matter described in the Basis for Qualified Opinion paragraph, the financial statements give information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India.

• In the case of the Balance Sheet, of the state of affairs of the Council as at 31st March ,2013;
• In the case of Income & Expenditure Account, of the Excess of Income over Expenditure for the year ended on that date.
• In the case of statement of receipts & payment, of the cash flows of the Council for the year ended on that date. Report on Other Legal and Regulatory requirements

We report that:

• We have obtained all the information and explanation which to the best of our knowledge and belief were necessary for the purposes of our audit.
• In our opinion, proper books of account as required by law have been kept by the Council so far as it appears from our examination of those books.
• The Balance sheet income & Expenditure Account , and the statement of receipts & Payments dealt with by this Report are in agreement with the books of account.
• In our opinion, the Balance sheet, Income & Expenditure Account and the Statement of Receipts & Payment comply with the issued by the Institute of chartered Accountants of India except where otherwise stated in the schedule of notes on accounts.