220 Mutual Trust Bank Ltd. Annual Report 2017 FINANCIAL STATEMENTS With a solid framework for internal and external control and dynamic mobilization of resources, we constantly seek to create value. Applying control mechanisms to prevent discrepancies with numbers, we govern and leverage our holistic policy to suit our operational doctrine. With strict adherence to regulatory policies, MTB is an epitome of f.shortinancial clarity and prowess.
221 Mutual Trust Bank Ltd. Annual Report 2017 About Mutual Trust Bank Ltd. (MTB) Corporate Governance Integrated Reporting Management Discussion & Analysis Sustainability Analysis Shareholders’ Information Financial Statements Other/Supplementary Information lndependent Auditor’s Report to the Shareholders of Mutual Trust Bank Limited Report on the Consolidated Financial Statements We have audited the accompanying consolidated financial statements of Mutual Trust Bank Limited and its subsidiaries (together referred to as the “Group”) which comprise the consolidated balance sheet as at 31 December 2017, and the consolidated profit and loss account, the consolidated statement of changes in equity and the consolidated cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management’s Responsibility for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Bangladesh Financial Reporting Standards (BFRSs) as explained in Note 2 and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. The Banking Companies Act, 1991 and Bangladesh Bank Regulations require the Management to ensure effective internal audit, internal control and risk management functions of the Bank. The Management is also required to make a self-assessment on the effectiveness of anti-fraud internal controls and report to Bangladesh Bank on instances of fraud and forgeries. Auditor’s Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with Bangladesh Standards on Auditing (BSAs). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error.
You've reached the end of your free preview.
Want to read all 126 pages?
- Fall '19
- Balance Sheet, Mutual Trust Bank Ltd