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Auditor’s Report to theMembers onReviewof InterimFinancial Information
Introduction
Scope of Review
Conclusion
We have reviewed the accompanying condensed interim balance sheet of Pakistan
Oilfields Limited as at December 31, 2017 and the related condensed interim profit and
loss account, condensed interim statement of comprehensive income, condensed
interim cash flow statement, condensed interim statement of changes in equity and
notes to the interim financial information for the six months period then ended (here-in-
after referred to as the “interim financial information”). Management is responsible for
the preparation and presentation of this interim financial information in accordance with
approved accounting standards as applicable in Pakistan for interim financial reporting.
Our responsibility is to express a conclusion on this interim financial information based
on our review. The figures of the condensed interim profit and loss account and
condensed interim statement of comprehensive income for three months period ended
December 31, 2017 and 2016 have not been reviewed, as we are required to review only
the cumulative figures for the six months period ended December 31, 2017.
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 information 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.
Based on our review, nothing has come to our attention that causes us to believe that the
accompanying interim financial information as of and for the six months period ended
December 31, 2017 is not prepared, in all material respects, in accordance with
approved accounting standards as applicable in Pakistan for interim financial reporting.
CharteredAccountants
Islamabad
January 24, 2018
Engagement partner: M. ImtiazAslam
A. F. FERGUSON & CO.