ANNUAL REPORT 2022
Rahman Rahman Huq
Chartered Accountants
2. Litigation and contingent liabilities in relation to indirect tax
See Note 44.1 to the financial statements.
The key audit matter How the matter was addressed in our audit
The Company has various indirect tax related claims and Our audit procedures included, on all such significant
legal actions arising in the normal course of business. The claims and litigations:
potential amounts in question are significant. Determining
whether there is a liability, and if so, the amount thereof, is Review of the Company's correspondence with the
inherently subjective. This renders claims and legal actions tax authorities, court verdicts obtained to date and
as a key audit matter. management's assessment of the merits of each
such matter.
Obtaining formal confirmations from the Company's
external legal counsel.
Assessment of adequacy of disclosures.
Other Information
“Management is responsible for the other information. The other information comprises the information included in the
Annual Report but does not include the financial statements and our auditor’s report thereon. Of the components of the
Annual Report, we obtained the Directors’ Report and the Statement of Corporate Governance prior to the date of this
auditor’s report. The remaining components of the Annual Report is expected to be made available to us after that date.
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance
conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information identified above
when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.
If, based on the work we have performed on the other information that we obtained prior to the date of this auditor’s
report, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
When we read the remaining components of the Annual Report, if we conclude that there is a material misstatement
therein, we are required to communicate the matter to those charged with governance.
Responsibilities of Management and Those Charged with Governance for the Financial Statements
Management is responsible for the preparation of financial statements that give a true and fair view in accordance with
International Financial Reporting Standards, and for such internal control as management determines is necessary to
enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the (consolidated) financial statements, management is responsible for assessing the Company’s ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis
of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic
alternative but to do so.
Those charged with governance are responsible for overseeing the Company’s financial reporting process.
In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Company’s financial reporting process.
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