Karachi: The financial statements of Metatech Trading Limited for the fiscal year ending June 26, 2024, have been audited and declared to present fairly the company's financial position, according to a report issued by the auditors. The documents include comprehensive details from July 1, 2023, to June 26, 2024, outlining the company’s profit, losses, and cash flows.
The auditing process was conducted in strict adherence to International Standards on Auditing as applicable in Pakistan, ensuring a robust evaluation of Metatech's financial activities and internal controls. The auditors confirmed their independence from the company, fulfilling all ethical obligations under the international and local codes of conduct.
According to information available from the Pakistan Stock Exchange (PSX), the auditors emphasized their responsibility in assessing the accuracy of financial statements and the adequacy of the internal controls put in place to prevent misstatements, whether from fraud or error. Their investigation included an intensive review of Metatech's accounting policies, internal controls, and financial statements comprehensiveness.
The audit report highlights that the financial statements were prepared on the basis of accounting that may not be suitable for other purposes, as noted in the financial documentation. However, this does not modify the auditors' positive conclusion on Metatech's financial health.
The board of directors and management at Metatech are notably credited for their roles in overseeing and preparing the financial statements, ensuring that the company maintains its course as a going concern. The report also outlines the auditor's responsibility to evaluate the company’s ongoing viability, with a detailed analysis based on the financial data up to the date of the audit report.
This rigorous financial scrutiny ensures that Metatech Trading Limited continues to operate transparently and in accordance with established financial regulations, securing its ability to sustain operations into the foreseeable future.