Page 95 - Interloop Annual Report 2018-2019

INDEPENDENT REVIEW REPORT

TO THE MEMBERS

Review Report on the Statement of Compliance Contained
In Listed Companies (Code of Corporate Governance)

Regulations, 2017.

We have reviewed the enclosed statement of compliance with Listed Companies (Code of Corporate Governance) Regulation,
2017 (the Regulations) prepared by the Board of Directors of Interloop Limited (The Company) for the year ended June 30,
2019, in accordance with the requirements of regulation 40 of the Regulations.
The responsibility for compliance with the Regulations is that of the Board of Directors of the Company. Our Responsibility
is to review whether the statement of compliance reflects the status of the Company’s compliance with the provisions of the
Regulations and report if it does not and to highlight any non-compliance with the requirements of the Regulations. A review is
limited primarily to inquiries of the company’s personnel and review of various documents prepared by the Company to comply
with the Regulations.
As a part of our audit of the financial statements we are required to obtain an understanding of the accounting and internal INTERLOOP LIMITED
control system sufficient to plan the audit and develop an effective audit approach. We are not required to consider whether the
Board of Directors’ Statement on internal control covers all risks and controls or to form an opinion on the effectiveness of such UNCONSOLIDATED
internal controls, the Company’s corporate governance procedures and risks.

The Regulation require the Company to place before the Audit Committee, and upon recommendations of the Audit Committee FINANCIAL
place before the Board of Directors for their review and approval, its related party transactions and also ensure compliance
with the requirements of section 208 of the Companies Act, 2017. We are only required and have ensured compliance of this
requirement to the extent of the approval the related party transactions by the Board of Directors upon recommendation of the STATEMENTS
Audit Committee. We have not carried out procedures to assess and determine the Company’s process for identification of
related parties and that whether the related party transactions were undertaken at arm’s length price or not.
FOR THE YEAR ENDED JUNE 30, 2019
Based on our review, nothing has come to our attention which causes us to believe that the statement of compliance does not
appropriately reflect the Company’s compliance, in all material respects, with the requirements contained in the Regulations as
applicable to the Company for the year ended June 30, 2019.

Kreston Hyder Bhimji & Co. Faisalabad
Chartered Accounants September 23, 2019

Interloop Limited

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