The statutory auditor is writing to confirm that based on their verification of books, documents, and explanations provided by the customer, they certify that for the financial year 2013-2014, all forward contracts outstanding with authorized dealer banks at any time during the year did not exceed the value of underlying exposures for the customer. The letter serves as an annual certificate for forward contracts as required by RBI Circular no AP (DIR SERIES) CIRCULAR NO 02 dated 04.07.2013 regarding risk management and inter-bank dealings.
The statutory auditor is writing to confirm that based on their verification of books, documents, and explanations provided by the customer, they certify that for the financial year 2013-2014, all forward contracts outstanding with authorized dealer banks at any time during the year did not exceed the value of underlying exposures for the customer. The letter serves as an annual certificate for forward contracts as required by RBI Circular no AP (DIR SERIES) CIRCULAR NO 02 dated 04.07.2013 regarding risk management and inter-bank dealings.
The statutory auditor is writing to confirm that based on their verification of books, documents, and explanations provided by the customer, they certify that for the financial year 2013-2014, all forward contracts outstanding with authorized dealer banks at any time during the year did not exceed the value of underlying exposures for the customer. The letter serves as an annual certificate for forward contracts as required by RBI Circular no AP (DIR SERIES) CIRCULAR NO 02 dated 04.07.2013 regarding risk management and inter-bank dealings.
We refer to RBI Circular no AP (DIR SERIES) CIRCULAR NO 02 dated 04.07.2013 on
Risk Management and Inter-Bank Dealings and confirm based on the verification of books of accounts maintained, documents produced and the explanation given to us by ______________________(customer name), we the statutory auditors do hereby certify that, all the Forward Contracts outstanding with all AD Category I Banks at any point of time during the year did not exceed the value of the underlying exposures at that time" of our customer M/s. __________________________for the Financial Year 2013-14.