Audit Information

The complete set of financial statements comprises the following:

• Balance Sheet as at the end of the reporting period as at the end of the reporting period
• Statement of Profit and Loss/Income (including Other Comprehensive Income for companies to whom Ind AS is applicable) and
• Statement of Cash Flows
• Expenditure account for the reporting period
• Statement of Changes in Equity (for Companies to whom Ind AS is applicable)
• Notes forming part of the financial statements, a summary of significant accounting policies, and other explanatory information that may be required under relevant statutes

The following companies are exempt from preparing a Statement of Cash Flows:

• One Person Company
• Small company (Thresholds increased in November, 2025 for Indian Private Companies)
• Dormant company
• A private start-up company

Ind AS 118 is proposed on the lines of IFRS 18 which, when effective, will change how information is presented in the Statement of P&L for Ind AS Companies.