Annual Financial Statements of Nestlé Pakistan Ltd.
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Auditors» report to the members
Balance sheet
Profit and loss account
Cash flow statement
Statement of changes in equity
Statement of recognized income and expenses
Notes to the financial statements

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AUDITORS» REPORT TO THE MEMBERS
We have audited the annexed balance sheet of Nestlé Pakistan Limited (≈the Company∆) as at 31
December 2006 and the related profit and loss account, cash flow statement and statement of changes in equity, together with the notes forming part thereof, for the year then ended and we state that 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.
It is the responsibility of the company»s management to establish and maintain a system of internal control, and prepare and present the above said statements in conformity with the approved accounting standards and the requirements of the Companies Ordinance, 1984. Our responsibility is to express an opinion on these statements based on our audit.
We conducted our audit in accordance with auditing standards as applicable in Pakistan. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the above said statements are free of any material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the above said statements. An audit also includes assessing the accounting policies and significant estimates made by management, as well as, evaluating the overall presentation of the above said statements. We believe that our audit provides a reasonable basis for our opinion and, after due verification, we report that:
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in our opinion, proper books of account have been kept by the Company as