Page 139 - Pakistan Oilfield Limited - Annual Report 2022

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Annual Report 2022

We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about
the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated
in our report because the adverse consequences of doing so would reasonably be expected to outweigh the
public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements
Based on our audit, we further report that in our opinion:

(a) proper books of account have been kept by the Company as required by the Companies Act, 2017 (XIX of
2017);

(b) the statement of financial position, the statement of profit or loss, the statement of profit or loss and other
comprehensive income, the statement of changes in equity and the statement of cash flows together with
the notes thereon have been drawn up in conformity with the Companies Act, 2017 (XIX of 2017) and are
in agreement with the books of account and returns;

(c) investments made, expenditure incurred and guarantees extended during the year were for the purpose
of the Company’s business; and

(d) zakat deductible at source under the Zakat and Ushr Ordinance, 1980 (XVIII of 1980), was deducted by the
Company and deposited in the Central Zakat Fund established under section 7 of that Ordinance.

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

Chartered Accountants
Islamabad
Date: August 16, 2022

UDIN: AR202210053M0maVsLIX