Page 83 - InterloopAnnualReport2020

INDEPENDENT REVIEW REPORT TO

THE MEMBERS ON STATEMENT OF

COMPLIANCE

Review Report on the Statement of Compliance Contained In Listed Companies (Code
of Corporate Governance) Regulations, 2019

We have reviewed the enclosed Statement of Compliance with the Listed Companies (Code of Corporate Governance)
Regulation, 2019 (the Regulations) prepared by the Board of Directors of Interloop Limited (the Company) for the year ended
Jun 30, 2020, in accordance with the requirements of regulation 36 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
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 internal controls, the Company’s corporate governance procedures, and risks.

The Regulations require the Company to place before the Audit Committee, and upon recommendations of the Audit
Committee place before the Board of Directors for their review and approval, its related party transactions. We are only
required and have ensured compliance with this requirement to the extent of the approval of the related party transactions by
the Board of Directors upon recommendation of the Audit Committee.

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 Jun 30, 2020.

Date: September 16, 2020 KRESTON HYDER BHIMJI & CO.
Place: Faisalabad CHARTERED ACCOUNTANTS
Engagement Partner: Khan Muhammad

206-1 Floor, Business Centre, New Civil Line, Faisalabad-Pakistan. Phone:+ 92-41-2615632, 2615650
st
Email: hyderbhimjifsd@gmail.com Website: www.krestonhb.com
Other offices: Karachi, Lahore, Islamabad.
A member of Kreston International- A Global Network of Independent Accounting Firms

81