This blog was created to share book Named
"XBRL for Indian CA".
But because of the overwhelming success of the book we have decided to have full XBRL tutorials on this blog.
Now Sponsored by Madrecha & Co. (Chartered Accountants)
The Board of Directors of .......
..................... Company Limited,
requested that we convert the audited financial statements of ....... .. ..
.......... Company Limited, which comprise the Balance Sheet as at March 31,
20XX, and the Statement of Profit & Loss, and Cash Flow Statement for the
year then ended, and a summary of significant accounting policies and other
explanatory information to XBRL mode financial statements and also certify that
these XBRL financial statements fairly present in all material respects, the
audited financial statements of the company for the year ended March 31, 20XX,
in accordance with the taxonomy specified by the Ministry of Corporate Affairs
for filing of the financial statements in the XBRL mode. We are pleased to
confirm our acceptance and our understanding of this certification engagement
by means of this letter.
engagement will be conducted on the basis that the management acknowledges and
understands that they have responsibility:
(a) For the
preparation of XBRL financial statements
in accordance with the taxonomy prescribed by the Ministry of Corporate
Affairs. This includes:
·ensuring Completeness, Accuracy,
Mapping and Structure of these
XBRL financial statements.
existence and operation of appropriate controls
over the process of conversion of audited financial statements to XBRL
provide us with:
(i) Audited financial statements of _____Company Limited, viz.
Sheet of Company Limited for the
year ended March 31, 20XX;
Profit and Loss Account of Company Limited for the year ended March 31, 20XX;
Cash Flow Statement of
Company Limited for the year ended March
31, 20XX; and
report of Company Limited for the year
ended March 31, 20XX.
(ii) Access, at all times, to all
information, including the books, account, vouchers and other records and
documentation, of the Company, whether kept at the head office of the company or elsewhere, of which [management] is aware that is relevant to the
certification of XBRL mode financial statements;
(iii) Additional information
that we may
request from [management] for the
purpose of the certification; and
Unrestricted access to persons within the entity from whom we determine it necessary to obtain evidence.
This includes our entitlement to require from the officers of the Company such
information and explanations as we may think necessary for the performance of
the certification engagement.
conduct our certification in accordance with the Guidance Note on Certification
of XBRL Financial Statements, issued by the Institute of Chartered Accountants
of India (ICAI).
As part of
our engagement, we will request from [management and, where appropriate, those charged with governance], written confirmation concerning
representations made to us in connection with the certification.
forward to full cooperation from your staff during our certification
engagement. [Insert other information, such as fee arrangements, billings' and
other specific terms, as appropriate.
certification does not constitute an audit conducted in accordance with the
Standards on Audit issued by the Institute of Chartered Accountants of India.
Accordingly, we will not express an opinion on the truth and fairness of the
XBRL financial statements. Accordingly, as a part of our engagement we will also
not perform procedures to verify the completeness and accuracy of the
information provided by the management or such procedures as would enable us to
express an opinion on the effectiveness of the design, implementation and
monitoring of controls by the management over the preparation of XBRL financial
statements. We will, however, bring to your attention any material errors in
these XBRL financial statements of which we become aware during our
completion of our engagement, we will provide you with the XBRL mode a
certification on XBRL financial statements referred to above. A draft of the
certificate is attached for your reference. The form and content of our
certificate may need to be amended in the light of our findings.
and return the attached copy of this letter to indicate your acknowledgement
of, and agreement with, the arrangements for our certification of the XBRL
financial statements including our respective responsibilities.