Page 225 - Hitachi IR 2025

INHERENT LIMITATIONS OF INTERNAL FINANCIAL
CONTROLS WITH REFERENCE TO FINANCIAL
STATEMENTS
Because of the inherent limitations of internal financial
controls with reference to financial statements, including
the possibility of collusion or improper management
override of controls, material misstatements due to error
or fraud may occur and not be detected. Also, projections
of any evaluation of the internal financial controls with
reference to financial statements to future periods are
subject to the risk that the internal financial control
with reference to financial statements may become
inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures
may deteriorate.
OPINION
In our opinion, the Company has, in all material respects,
adequate internal financial controls with reference to
financial statements and such internal financial controls
with reference to financial statements were operating
effectively as at March 31, 2025, based on the internal
control over financial reporting criteria established by
the Company considering the essential components of
internal control stated in the Guidance Note issued by
the ICAI.
For S.R. Batliboi & Associates LLP
Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004
per Sandeep Karnani
Partner
Membership Number: 061207
UDIN: 25061207BMNTVQ1448
Place: Bengaluru
Date: May 14, 2025
Integrated Annual Report 2024-25
223