Bank of baroda

BANK OF BARODA
2.
The audit of the financial statements for the years referred to in paragraph 1(a) of this report comprised of audit
tests and procedures deemed necessary by the respective auditors for the purpose of expressing an opinion on
such financial statements taken as a whole in accordance with generally accepted auditing practices.
3.
The review of the financial statements for the periods referred to in paragraph 1(b) and (c) above consisted
principally of applying analytical procedures to financial data and making enquiries of persons responsible for
financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with
generally accepted auditing standards, the objective of which is an expression of an opinion on the financial
statements as a whole. Accordingly, neither was an audit performed nor an opinion expressed.
4.
We have performed such tests and procedures, which, in our opinion, were necessary for the purpose of our
examination. These procedures, mainly involved comparison of the attached financial information with the Bank’s
audited financial statements for the years 2000-2001 to 2004-2005 and unaudited financial statements for the half
years ended September 30, 2004 and September 30, 2005 as prepared by the Bank.
5.
We report that the profits of the Bank as restated for the financial years ended March 31, 2001, 2002, 2003, 2004,
2005 and for the half years ended September 30, 2004 and September 30, 2005 are as set out in Annexure A.
These profits have been arrived at after charging all operating and management expenses, including depreciation
and after making such adjustments and regroupings as in our opinion are appropriate and are to be read with
accounting policies and notes thereon.
6.
We report that the assets and liabilities of the Bank as restated as at March 31, 2001, 2002, 2003, 2004, 2005, and
September 30, 2004 and September 30, 2005 are also as set out in Annexure A after making such adjustments
and regroupings as in our opinion were appropriate and are to be read with the accounting policies and notes
thereon.
7.
The Annexure A as referred to in paragraphs 5 and 6 above consists of the following:
a)
Summary statement of Profit and Loss as restated.