10.

11.

12.

13.

14.

15.

16.

17.

18.

b. changes, if any, in accounting policies and practices and reasons for the same;

c major accounting entries involving estimates based on the exercise of judgment by
management;

d. significant adjustments made in the financial statements arising out of audit findings;

e compliance with listing and other legal requirements relating to financial statements;

f. reference to the Board of the related party transactions not falling under Section 188 where audit

committee does not approve of such transactions;
g. disclosure of any related party transactions; and
h. modified opinion(s) in the draft audit report.

reviewing, with the management, the quarterly financial statements before submission to the Board for
approval;

reviewing, with the management, the statement of uses/application of funds raised through an issue
(public issue, rights issue, preferential issue, etc.), the statement of funds utilized for purposes other than
those stated in the offer document/ prospectus/ notice and the report submitted by the monitoring agency
monitoring the utilization of proceeds of a public or rights issue, and making appropriate
recommendations to the Board to take up steps in this matter;

reviewing and monitoring the auditor’s independence and performance, and effectiveness of audit
process;

approval of any subsequent modification of transactions of our Company with related parties and
omnibus approval for related party transactions proposed to be entered into by our Company, subject to
the conditions as may be prescribed;

Explanation: The term “related party transactions” shall have the same meaning as provided in
Regulation 2(1)(zc) of the SEBI Listing Regulations and/ or the applicable Accounting Standards and/
or the Companies Act 2013.

scrutiny of inter-corporate loans and investments;

monitoring end use of the funds raised through public offers and related matters;

valuation of undertakings or assets of our Company, wherever it is necessary;

evaluation of internal financial controls and risk management systems;

reviewing, with the management, performance of statutory and internal auditors, adequacy of the internal
control systems;

reviewing the adequacy of internal audit function, if any, including the structure of the internal audit
department staffing and seniority of the official heading the department, reporting structure coverage and
frequency of internal audit;

discussion with internal auditors of any significant findings and follow up there on;

reviewing the findings of any internal investigations by the internal auditors into matters where there is
suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting

the matter to the Board;

discussion with statutory auditors before the audit commences, about the nature and scope of audit as
well as post-audit discussion to ascertain any area of concern;

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