Page 11 - Pakistan Oilfields Limited - Condensed Interim Financial Statements Six Months Period Ended December 31, 2023

A. F. FERGUSON & CO.

Independent Auditor’s Review Report to the members of Pakistan Oilfields Limited

Report on review of Interim Financial Statements
Introduction
We have reviewed the accompanying condensed interim statement of financial position of Pakistan
Oilfields Limited as at December 31, 2022 and the related condensed interim statement of profit or
loss, condensed interim statement of profit or loss and other comprehensive income, condensed
interim statement of changes in equity, and condensed interim statement of cash flows, and notes to
the financial statements for the six-month period then ended (here-in-after referred to as the “interim
financial statements”). Management is responsible for the preparation and presentation of these
interim financial statements in accordance with accounting and reporting standards as applicable in
Pakistan for interim financial reporting. Our responsibility is to express a conclusion on these
financial statements based on our review. The figures of the condensed interim statement of profit or
loss and condensed interim statement of profit or loss and other comprehensive income for three
month period ended December 31, 2022 and 2021 have not been reviewed, as we are required to
review only the cumulative figures for the six month period ended December 31, 2022.

Scope of Review
We conducted our review in accordance with International Standard on Review Engagements 2410,
“Review of Interim Financial Information Performed by the Independent Auditor of the Entity”.
A review of interim financial statements consists of making inquiries, primarily of persons
responsible for financial and accounting matters, and applying analytical and other review
procedures. A review is substantially less in scope than an audit conducted in accordance with
International Standards on Auditing and consequently does not enable us to obtain assurance that
we would become aware of all significant matters that might be identified in an audit. Accordingly, we
do not express an audit opinion.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the
accompanying interim financial statements are not prepared, in all material respects, in accordance
with the accounting and reporting standards as applicable in Pakistan for interim financial reporting.

The engagement partner on the audit resulting in this independent auditor’s report is Asim Masood
Iqbal.

Chartered Accountants
Islamabad
Date: February 28, 2023
UDIN: RR202210053DHNgnSMwd

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