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Auditors’ Reportto the Shareholdersof Purnava LimitedWe have audited the accompanying financial statements ofPURNAVA LIMITED which comprise the Statement ofFinancial Position as at 31 December 2012, Statement ofComprehensive Income, Statement of Changes in Equity andStatement of Cash Flows for the year then ended, and asummary of significant accounting policies and otherexplanatory information.Management's Responsibility for the Financial StatementsManagement of PURNAVA LIMITED is responsible for thepreparation and fair presentation of these financial statementsin accordance with Bangladesh Financial Reporting Standards(BFRS), and for such internal control as managementdetermines is necessary to enable the preparation of financialstatements that are free from material misstatement, whetherdue to fraud or error.Auditors' ResponsibilityOur responsibility is to express an opinion on these financialstatements based on our audit. We conducted our audit inaccordance with Bangladesh Standards on Auditing (BSA).Those standards require that we comply with ethicalrequirements and plan and perform the audit to obtainreasonable assurance about whether the financial statementsare free from material misstatement.The sub-title "Report on the Financial Statements" isunnecessary in circumstances when the second sub-title"Report on Other Legal and Regulatory Requirements" is notapplicable.An audit involves performing procedures to obtain auditevidence about the amounts and disclosures in the financialstatements. The procedures selected depend on the auditor'sjudgement, including the assessment of the risks of materialmisstatement of the financial statements, whether due to fraudor error. In making those risk assessments, the auditorconsiders internal control relevant to the entity's preparationand fair presentation of the financial statements in order todesign audit procedures that are appropriate in thecircumstances, but not for the purpose of expressing anopinion on the effectiveness of the entity's internal control. Anaudit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness ofaccounting estimates made by management, as well asevaluating the overall presentation of thefinancial statements.We believe that the audit evidence we haveobtained is sufficient and appropriate toprovide a basis for our audit opinion.OpinionIn our opinion, the financial statements,prepared in accordance with BangladeshFinancial Reporting Standards (BFRS),give a true and fair view of the financialposition as at 31 December 2012 and itsfinancial performance and its cash flows forthe year then ended and comply with theCompanies Act-1994 and other applicablelaws and regulations.We also report that:(a) we have obtained all the informationand explanations which to the best ofour knowledge and belief werenecessary for the purposes of our auditand made due verification thereof;(b) in our opinion, proper books of accountas required by law have been kept bythe company so far as it appeared fromour examination of those books; and(c) the Company's statement of financialposition and statement ofcomprehensive income dealt with bythe report are in agreement with thebooks of account.K.M. HASAN & CO.Chartered AccountantsDated, Dhaka14 March, 2013103 •renata annual report 12