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Independent Auditor's Report 293 INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BHARTI AIRTEL LIMITED Report on the Audit of the Consolidated Rules made thereunder, and we have fulfilled our other ethical Financial Statements responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence Opinion obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred to in the Other Matter We have audited the accompanying consolidated financial section below, is sufficient and appropriate to provide a basis statements of BHARTI AIRTEL LIMITED (“the Parent”) and its for our audit opinion on the Consolidated Financial Statements. subsidiaries, (the Parent and its subsidiaries together referred to as “the Group”) which includes the Group’s share of net Emphasis of Matters profit in its associates and joint ventures, which comprise the Consolidated Balance Sheet as at March 31, 2020, and the i. “Accounting treatment of for Deferred Tax” of Consolidated Statement of Profit and Loss (including Other Indus Towers Limited, a joint venture company Comprehensive Income), the Consolidated Statement of - Reported by auditors of Indus Towers Limited Changes in Equity and the Consolidated Statement of Cash We draw attention to Note 4(f) of the Consolidated Flows for the year then ended, and a summary of significant Financial Statements, which describes the auditors of accounting policies and other explanatory information Indus Towers Limited (”Indus”), a joint venture company, (hereinafter referred to as the “Consolidated Financial have included an ‘Emphasis of Matter’ paragraph in their Statements”). audit report on the financial statements of that company In our opinion and to the best of our information and according for the year ended March 31, 2020 with respect to to the explanations given to us, and based on the consideration accounting treatment of adjustments of H 2,039 million of reports of the other auditors on separate financial statements in carrying value of deferred tax assets, by setting off / financial information of the joint ventures referred to in the same against the reserves created out of scheme of the Other Matter section below, the aforesaid Consolidated merger pursuant to the scheme of merger as approved Financial Statements give the information required by the by the appropriate judicature. However, this is not in Companies Act, 2013 (“the Act”) in the manner so required compliance with Ind AS 12, Income taxes. and give a true and fair view in conformity with the Indian The Group’s share out of above adjustment is H 856 Accounting Standards prescribed under section 133 of the million. Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended (‘Ind AS’), and other accounting ii. “Material uncertainty arising out of certain principles generally accepted in India, of the consolidated state developments and its consequential impact of affairs of the Group, its associates and joint ventures as at on business operations” of Indus Towers March 31, 2020, and their consolidated loss, consolidated Limited, a joint venture company - Reported total comprehensive loss, consolidated changes in equity and by auditors of Indus Towers Limited consolidated cash flows for the year ended on that date. We draw attention to Note 4(k) of the Consolidated Basis for Opinion Financial Statements, which describes the auditors of Indus Towers Limited (”Indus”), a joint venture company, We conducted our audit of the Consolidated Financial in their audit report on the financial statements of that Statements in accordance with the Standards on Auditing company for the year ended March 31, 2020, have specified under section 143 (10) of the Act (“SAs”). Our reported under the above heading a matter which responsibilities under those Standards are further described describes the effect on business, results of operations, in the Auditor’s Responsibility for the Audit of the Consolidated financial position of the joint venture company on account Financial Statements section of our report. We are independent of uncertainty regarding continuance of operations of of the Group, its associates and joint ventures in accordance their top customers caused by financial stress post the with the Code of Ethics issued by the Institute of Chartered AGR judgement of Honorable Supreme Court dated Accountants of India (“ICAI”) together with the ethical October 24, 2019 and March 18, 2020. requirements that are relevant to our audit of the Consolidated Financial Statements under the provisions of the Act and the Our opinion is not modified in respect of these matters. Bharti Airtel Limited 294 Integrated Report and Annual Financial Statements 2019-20 Key Audit Matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Consolidated Financial Statements of the current period. These matters were addressed in the context of our audit of the Consolidated Financial Integrated Report Integrated Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined the matters described below to be the key audit matters to be communicated in our report. Sr. Key Audit Matter Auditor’s Response No. 1 Revenue from operations: Principal Audit Procedures Statutory Reports Statutory There is an inherent risk around accuracy of revenue We evaluated the design and tested the operating effectiveness recorded in respect of Mobile Services, Airtel Business, of the general IT controls and application specific controls Digital TV Services and Tower Infrastructure Service within the IT system, including testing of system generated segments because of the complexity of the IT systems and reports used in our audit of revenues by involving our IT other support systems, significance of volumes of data specialist. We also tested the controls within the billing systems, processed by the systems and the impact of changing prepaid charging systems, capturing and recording of revenue, Financial Statements pricing models (tariff structures, incentive arrangements authorisation and input of changes to the IT systems and over and discounts, etc.). In addition, for Airtel Business, we reconciliations performed between the active customers base considered occurrence of revenue as a risk due to the with billing system. possibility that revenue may be recorded without active We performed substantive procedures, which included testing service links being provided to customers or for contracts the accuracy of customer invoices and tracing receipts to that are cancelled/not renewed. customer invoices, comparing the number of links/connection Refer note 2.19 “Revenue recognition” for accounting as per the active customer base to the billing system, testing policies, note 3.2.a ‘Revenue recognition and presentation’ reconciliations between billing system and the general ledger under the head Critical judgements in applying the Group’s (including validation of relevant journal entries), making test Independent Auditor’s Report Independent Auditor’s accounting policies’, and note 24 on disclosures related to calls and testing whether they are rated correctly and analytical Revenue in the Consolidated Financial Statements. procedures for relevant segment revenue. We verified the appropriateness of the accounting policies and the disclosures related to Revenue in notes 2.19, 3.2.a and 24 respectively in the Consolidated Financial Statements. 2 Determination of additional provision for License fees Principal Audit Procedures and Spectrum Usage Charges along with interest, We tested the effectiveness of the controls over determining the penalty and interest on penalty pursuant to Supreme additional provision for License fees and SUC. Court judgement on Adjusted Gross Revenue We also tested the appropriateness of the additional provision Consequent to a Judgement of the Hon’ble Supreme for Licenses fees and SUC by (1) Reading the License Court of India on October 24, 2019 in relation to a long Agreements, the Court Judgement, demand orders and the outstanding industry-wise case upholding the view of the guidelines/clarifications provided by DoT and comparing them Department of Telecommunications (‘DoT’) in respect to the assumptions used in the management’s estimate in to the definition of Adjusted Gross Revenue (AGR) determining the provisions for years for which demands from (the Court Judgement), the Group recorded additional DoT has been received and (2) Testing that the assumptions provisions for periods upto September 2019 of H 61,640 and methodology used in computing the provisions for the million towards License fee and Spectrum Usage Charges years for which demands are not received is consistent with the (SUC), and H 242,047 million towards applicable interest, methodology adopted in (1) above. penalty and interest on penalty and disclosed the same as an Exceptional Item in the Statement of Profit and Loss. We evaluated the disclosures provided in the notes 4(a) and 31(i)(a) to the Consolidated Financial Statements concerning The Group computed and recorded the additional this matter. provision on the basis of (1) demands received and (2) the periods for which demands have not been received by following the same methodology used in the assessments carried out in earlier years, the guidelines/clarifications provided by DoT, and the principles set out in the Court Judgement. The additional
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