Annual Report 2012 - Dialog

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50 l Dialog Axiata PLC l Annual Report 2012 The Statement of Directors’ Responsibility The responsibility of the Directors in relation to the financial statements of the Company and the Group is set out in the following statement. The responsibility of the Independent Auditor in relation to the financial statements prepared in accordance with the provisions of the Companies Act, No. 07 of 2007 [‘the Act’], is set out in the Independent Auditor’s Report on page 51. The financial statements comprise: the statements of comprehensive income, which presents a true and fair view of the profit or loss and/or other comprehensive income of the Company and the Group for the financial year, the statements of financial position, which presents a true and fair view of the state of affairs of the Company and the Group as at the end of the financial year. In preparing these financial statements the Directors are required to ensure that: appropriate accounting policies have been selected and applied in a consistent manner and material departures, if any, have been disclosed and explained; all applicable accounting standards, as relevant, have been followed; reasonable and prudent judgments and estimates have been made; and information required by the Act and the Listing Rules of the Colombo Stock Exchange has been complied with. The Directors are also required to ensure that the Company and the Group have adequate resources to continue operations to justify applying the ‘going concern’ basis in preparing these financial statements. Further, the Directors have a responsibility to ensure that the Company and the Group maintains sufficient accounting records to disclose, with reasonable accuracy, the financial position of the Company and of the Group, and to ensure that the financial statements presented comply with the requirements of the Act. The Directors are also responsible for taking reasonable steps to safeguard the assets of the Company and of the Group and in this regard to give proper consideration to the establishment of appropriate internal control systems with a view of preventing and detecting fraud and other irregularities. The Directors are required to prepare the financial statements and to provide the Independent Auditor with every opportunity to take whatever steps and undertake whatever inspections they may consider to be appropriate to enable them to give the Independent Auditor’s opinion. Further, the Directors have recommended a final dividend of thirty three cents (Rs 0.33) per share, after being satisfied that the Company would satisfy the solvency test immediately after such distribution in accordance with Section 57 of the Act, and have obtained a certificate of solvency from the Independent Auditor. The Directors are of the view that they have discharged their responsibilities as set out in this statement. Compliance Report The Directors confirm that to the best of their knowledge, all taxes, duties and levies payable by the Company and the Group, all contributions, levies and taxes payable on behalf of and in respect of the employees of the Company and the Group, and all other known statutory dues as were due and payable by the Company and the Group as at the date of the statement of financial position have been paid, or where relevant provided for, except as disclosed in note 34 to the financial statements covering contingent liabilities. By Order of the Board Ms. Viranthi Attyagalle Company Secretary Colombo 15th February, 2013
Annual Report 2012 l Dialog Axiata PLC l 51 Independent Auditor’s Report To the Shareholders of Dialog Axiata PLC Report on the Financial Statements 1 We have audited the accompanying financial statements of Dialog Axiata PLC (“the Company”), the consolidated financial statements of the Company and its subsidiaries, which comprise the statemement of financial position as at 31 December 2012, and the statements of comprehensive income, statements of changes in equity and statements of cash flow for the year then ended, and a summary of significant accounting policies and other explanatory notes as set out in pages 52 to 129. Management’s Responsibility for the Financial Statements 2 Management is responsible for the preparation and fair presentation of these financial statements in accordance with Sri Lanka Accounting Standards. This responsibility includes: designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Scope of Audit and Basis of Opinion 3 Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Sri Lanka Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. 4 An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. 5 We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit. We therefore believe that our audit provides a reasonable basis for our opinion. Opinion 6 In our opinion, so far as appears from our examination, the Company maintained proper accounting records for the year ended 31 December 2012 and the financial statements give a true and fair view of the Company’s state of affairs as at 31 December 2012 and of its profit and cash flows for the year then ended in accordance with Sri Lanka Accounting Standards. 7 In our opinion, the consolidated financial statements give a true and fair view of the Group’s state of affairs as at 31 December 2012 and of the profit and cash flows for the year then ended, in accordance with Sri Lanka Accounting Standards, of the Company and its subsidiaries dealt with thereby, so far as concerns the shareholders of the Company. Report on other legal and regulatory requirements 8 These financial statements also comply with the requirements of Sections 151(2) and 153(2) to 153(7) of the Companies Act, No. 07 of 2007. 15th February, 2013 COLOMBO CHARTERED ACCOUNTANTS PricewaterhouseCoopers, P. O. Box 918, 100 Braybrooke Place, Colombo 2, Sri Lanka T: +94 (11) 771 9838, 471 9838, F: +94 (11) 230 3197, www.pwc.com/lk Partners Y. Kanagasabai FCA, D.T.S.H. Mudalige FCA, C.S. Manoharan FCA, N.R. Gunasekera FCA, S. Gajendran FCA, Ms. S. Hadgie FCA, Ms. S. Perera ACA PricewaterhouseCoopers is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.
Page 1 and 2: Dialog Axiata PLC l Annual Report 2
Page 3 and 4: Introduction to the Company Dialog
Page 5 and 6: Annual Report 2012 l Dialog Axiata
Page 13 and 14: Mr. Moksevi Prelis Independent, Non
Page 15 and 16: Mr. James Maclaurin Non-Independent
Page 17 and 18: Group NPAT Rs. Mn +23% 7,000 6,000
Page 19 and 20: Gross Debt to Equity 2.0 1.5 1.0 0.
Page 23 and 24: Dialog Axiata PLC - Financial Revie
Page 27 and 28: EBITDA Annual Report 2012 l Dialog
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Annual Report 2012 - Dialog

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