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COMPILER’S NOTE
Under Section 143(3)(i) of the Companies Act, 2013, an auditor of a company is required to state in his/her audit report whether the company has an adequate internal financial controls (IFC) system in place and the operating effectiveness of such controls. The Institute of Chartered Accountants of India (ICAI) has also issued a Guidance Note for the same.
Given below are excerpts of instances where the auditors have issued qualified reports for the financial year 2024-25 for deficiencies observed in different areas in the Internal Financial Controls.
Ola Electric Mobility Limited (from Consolidated Financial Statements)
REPORT ON THE INTERNAL FINANCIAL CONTROLS
Qualified Opinion:
In conjunction with our audit of the consolidated financial statements of Ola Electric Mobility Limited (formerly known as ‘Ola Electric Mobility Private Limited’) (hereinafter referred to as “the Holding Company”) as of and for the year ended 31 March 2025, we have audited the internal financial controls with reference to financial statements of the Holding Company and such companies incorporated in India under the Act which are its subsidiary compa
