We have audited the accompanying Balance Sheet of Sunlife Insurance Company Ltd as at 31^st December 2009 and the related Life Revenue Account and Statement of Cash Flows for the year ended 31^st December 2009. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with Bangladesh Standards on Auditing. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. 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. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements, prepared in accordance with BAS, give a true and fair view of the state of the company’s affairs as of 31 December 2009 and of the results of its operations and its cash flows for the period then ended and comply with the Companies ACT 1994, the Insurance Rules, 1958 and other applicable laws and regulations.

We also report that :

ii)          In our opinion, proper books of account as required by law have been kept by the company so far as it appeared from our examination of those books and (where applicable) proper returns adequate for the purpose of our audit have been received from branches not visited by us;

iii)         The Company’s Balance Sheet and Life Revenue Account and it’s cash flows dealt with by the report are in agreement with the books of account and returns;

iv)         The expenditure incurred was for the purposes of the company’s business;

v)         as per section 40-C(2) of the Insurance Act, 1938 as amended, we certify that to the best of our knowledge and belief and according to the information and explanations given to us, all expenses of management wherever incurred and whether incurred directly or indirectly, in respect of insurance business of the company transacted in Bangladesh during the year under report have been duly debited to the related revenue accounts of the company; and

vi)         as per regulation 11 of part 1 of the Third Schedule of the Insurance Act, 1938 as amended, we certify that to the best of our information and as shown by its books the company during the year under report has not paid any person any commission in any form out side Bangladesh from any person and commission in any form in respect of any of its business reinsured abroad.

Next >>

SUNLIFE INSURANCE COMPANY LTD.© 2010 powered by cyberhosting