AUDITOR'S
REPORT ON THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2006.
The Shareholders,
Bhutan National Bank Ltd.,
Thimphu, Bhutan
We have audited the attached Balance Sheet of
Bhutan National Bank Ltd. as at 31st December,
2006 and Profit & Loss Account and the Cash
Flow Statement of the Company for the year ended
on that date and report as follows:-
1. We have obtained all the information and explanations,
which to the best of our knowledge and believe
were necessary for the purpose of our audit and
have found them to be satisfactory.
2 . In our opinion, proper books of accounts have
been kept by the Bank so far as it appears from
our examinations of those books.
3 . The Bank has complied with the various provisions
of the Financial Institution Act 1992 and other
applicable laws, rules & regulations, systems,
procedures and practices except otherwise stated
else where in this report.
4 . The Balance Sheet and the Profit & Loss
Account dealt with by this report have been prepared
on the basis of generally accepted accounting
principles and are in agreement with the books
of account.
5. Adjustment of certain items in sundry recievables
accounts Nu.10,972,348.62 (previous
year Nu.16,083,338.16), sundry
payables account Nu.11,755,853.28
(previous year Nu.23,932,308.14)
as mentioned in Note 7 of Schedule 11 may have
impact on porfitability, which is not readily
ascertainable.
6. In our opinion, as shown by the books of the
Bank, and to the best of our information and according
to the explanations given to us, the said Balance
Shet and Profit & Loss Account and the Cash
Flow Statement read together with Schedule 1 to
11 and subject to para 5 of the above and our
comments in the Annexure-A attached herewith give
the information under The Companies Act of the
Kingdom of Bhutan 2000 in the manner so required
and exhibit a true and fair view:
a) In case of the Balance Sheet, of the state
of affairs of the Company as at 31st December,
2006;
b) In case of the Profit & Loss Account of
the profit of the Bank for the year ended on that
date;
AND
c) In the case of Cash Flow Statement, of the
cash flows for the year ended on that date.
Date: 07/04/2007 For
S.N Mukherji & Co.
Place: Kolkata
CHARTERED
ACCOUNTANTS |
