Management Representation letter

28 February 2022 Ahamed Shamim & Co. Chartered Accountants House # 1/B (Flat 1/A), Road # 8 Block # i, Banani, Dhaka Subject: Management Representation Dear Sir, This representation letter is provided in connection with your audit of the Accounts of JANGHO CURTAIN WALL BANGLADESH LTD. For period ended from incorporation i.e. 26th November, 2020 to 31st December, 2021. for the purpose of expressing an opinion as to whether these financial statements give a true and fair view of the financial position of JANGHO CURTAIN WALL BANGLADESH LTD. and the results of its operations and its cash flows in accordance with International Accounting Standards (IASs). We acknowledge our responsibility for the fair presentation of the financial statements (on behalf of the board of Committee) in accordance with the IAS and other applicable laws and regulations and we approve the financial statements. Certain representations in this letter are described as being limited to matters that are material. We understand that information is material if its omission or misstatement could influence the economic decisions of users taken on the basis of the financial statements. Materiality depends on the size of the item or error judged in the particular circumstances of its omission or misstatement. We have made appropriate inquiries of Committee and officers of the organization with the relevant knowledge and experience. Accordingly, we confirm, to the best of our knowledge and belief, the following representations: The financial statements referred to above are presented fairly, in all material respects, in accordance with International Accounting Standards (IASs). We have made available to you all books of accounts and supporting documentation. There has been no known actual or possible non-compliance with laws and regulations that could have a material effect on the financial statements in the event of non-compliance. We confirm that: We understand that the term “fraud” includes misstatements resulting from fraudulent financial reporting and misstatements resulting from misappropriation of assets. Misstatements resulting from fraudulent financial reporting involve intentional misstatements including omissions of amounts or disclosures in financial statements to deceive financial statement users. Misstatements resulting from misappropriation of assets involve the theft of an entity’s assets, often accompanied by false or misleading records or documents in order to conceal the fact that the assets are missing. We acknowledge responsibility for the design and implementation of internal control to prevent and detect fraud and error. There have been no instances of fraud or suspected fraud affecting the company involving: Management; Employees who have significant roles in internal control; or Others where the fraud could have a material effect on the financial statements. We confirm the completeness of the information provided to you regarding the identification of related parties and regarding transactions with such parties that are material to the financial statements. The identification of, and balances and transactions with, related parties have been properly recorded and when appropriate, adequately disclosed in the financial statements. We understand that, as defined in International Accounting Standard 24, Related Party Disclosures, parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial and operating decisions. Related party transactions are transfers of resources or obligations between related parties, regardless of whether a normal commercial rate of interest is charged. Presentation and disclosure of the fair value measurements of material assets, liabilities and components of equity are in accordance with International Accounting Standards (IASs). The amounts disclosed represent our best estimate of fair value of assets and liabilities required to be disclosed by these standards. The measurement methods and significant assumptions used in determining fair value have been applied on a consistent basis, are reasonable and they appropriately reflect our intent and ability to carry out specific courses of action on behalf of the Company where relevant to the fair value measurements or disclosures. The financial statements have been prepared on going concern basis and the management has assessed the organization’s ability to continue as a going concern. Representations related to matters impacted by significant assumptions made by management, management intent and information that is only known to management: All Financing transactions are final and there are no side agreements with clients. Receivables reported in the financial statements represent valid claims against consumer/clients on or before the balance sheet date. We have no plans or intentions that may materially alter the carrying value or classification of assets and liabilities reflected in the financial statements. We believe that the carrying amounts of all material assets will be recoverable. The organization has satisfactory title to all assets and there are no liens or encumbrances on the organization’s assets. The assets at year-end do not represent or indicate any impaired asset for which write off/adjustment was required in the financial statements. The following, have been properly recorded and when appropriate, adequately disclosed in the financial statements: Consolidation and revenue recognition; Significant management control relationships; and Changes in accounting principles affecting consistency. We have recorded or disclosed, as appropriate, all liabilities, both actual and contingent, and have disclosed in Notes to the financial statements all guarantees that we have given to third parties. We are not aware of any pending or threatened litigations and claims against the Company, except the tax matters which are on Appellate Tribunal that have been properly disclosed under contingent liabilities. Except as disclosed in the financial statements or footnotes to the financial statements, there are no: Other gain or loss contingencies or other liabilities that are required to be recognized or disclosed in the financial statements, including liabilities or contingencies arising from environmental matters resulting from illegal or possible illegal acts, or possible violations of human rights legislation; Other environmental matters that may have a material impact on the financial statements; and Material transactions that have not been properly recorded in the accounting records underlying the financial statements; Understatements or overstatements of revenues showed in the financial statements. Communication for regulatory agencies concerning non-compliance with or deficiencies, in financial reporting practice that could have material effects on the financial statements. Provision of any material loss to be sustained in the fulfillment of or from liability to fulfill commitments etc. The organization has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance. There are no significant matters that have arisen requiring a restatement of the corresponding figures. Thanking you, Yours faithfully, √ ________________ Lou Fei Managing Director JANGHO CURTAIN WALL BANGLADESH LTD.