AUDITOR'S REPORT FOR THE YEAR ENDED 31 st MARCH 2008  

We have audited Balance Sheet of M/s Central Tool Room & Training Centre, Bhubaneswar as at 31.03.08 and Income & Expenditure Account for the year ending on that date & report that –

•  We have conducted the audit in accordance with the Generally Accepted Accounting Principles and Standard Auditing Practicing issued by Institute of Chartered Accountants of India.

•  We have obtained all the information and explanation, which to the best of our knowledge and belief are necessary for the purpose of audit.

•  In our opinion, proper books of account have been maintained by the above named organisation, so far as appears from our examination of such books of account.

•  The Balance Sheet and Income & Expenditure Account referred to in this report are in agreement with the books of accounts.

•  In our opinion and to the best of our information and according to explanations given to us the said Balance Sheet and the Income & Expenditure Account read together with the notes thereon give a true and fair view:

• i. In so far as it relates to the Balance Sheet of the state of affairs as at 31/03/2008

• ii. In so far as it relates to the Income & Expenditure Account of the Excess of Income over Expenditure for the period ended on that date.

For A.N. LENKA & ASSOCIATES

Chartered Accountants

Date : 30.06.08 A.N. Lenka

Bhubaneswar Partner 

Annexure to the Audit Report

•  The society has maintained proper records showing full particulars, including quantitative details and location of fixed assets. The fixed assets including leased are being physically verified by the management during the year and no material discrepancies between the book record and physical verification was noticed on such verification.

•  None of the fixed assets have been revalued during the year.

•  Physical verification has been conducted by the Management at reasonable intervals in respect of Stores, spares & Tools.

•  The procedures followed by the management for physical verification of stocks are reasonable and adequate in relation to the size of the society and the nature of its business.

•  In our opinion and on the basis of our examination of invoices, the valuation of stocks is fair and proper in accordance, with the normally accepted accounting principles.

•  In our opinion the society have a internal check system commensurate with the size and nature of its business.

•  The society has regularly deposited, during the year, provident fund dues with appropriate authority.

•  According to the information explanation given to us and the books and records examined by us, there are no liabilities payable in respect of Income Tax , Customs duty and Excise duty outstanding as at 31 st March 2008 for a period exceeding six months from the date they become payable.

•  No personal expenses have been charged to Revenue account. Further to above we also report that:

For A.N. LENKA & ASSOCIATES

Chartered Accountants

Date : 30.06.08 A.N. Lenka

Bhubaneswar Partner