Refer Case Study 2 DISCUSS how CA. Ravikant Desai should make reference, if any, to the audit conducted by the other auditors in the auditor's…

Independent Auditor's Report, provides that if the auditor considers it necessary to refer to the audit conducted by the other auditors, the auditor's report on the consolidated financial statements should clearly disclose the magnitude of the portion of the consolidated financial statements audited by those auditors. Such disclosure may be made by stating the aggregate rupee amounts or percentages of the total assets, total revenues and cash flows of the components that were not audited by the parent auditor. This disclosure should be included in an Other Matter paragraph in the Independent Auditor's Report. Accordingly, in the present case, CA. Ravikant Desai should disclose, in the audit report on the consolidated financial statements of Synovia & Synovia Life Sciences Ltd. (S&S) for the financial year 2025–26, the aggregate amounts of total assets, total revenues and net cash outflows relating to the seven subsidiaries whose financial statements were audited by other auditors. A suitable Other Matter paragraph is as follows: Other Matter We did not audit the financial statements and other financial information of seven subsidiaries included in the consolidated financial statements, whose financial statements reflect total assets of ₹ 1,010 crores as at 31 March 2026, total revenues of ₹ 1,254 crores, and net cash outflows of ₹30 crores for the year then ended. These financial statements and other financial information have been audited by other auditors, whose reports have been furnished to us by the management of Synovia & Synovia Life Sciences Ltd., the Holding Company. Our opinion on the consolidated financial statements, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, and our report in terms of Section 143(3) of the Companies Act, 2013, in so far as it relates to the aforesaid subsidiaries, is based solely on the reports of such other auditors. Two of these subsidiaries are located outside India, and their financial statements and other financial information have been prepared in accordance with the accounting principles generally accepted in their respective countries and audited by other auditors in accordance with the generally accepted auditing standards applicable in those countries. The Holding Company's management has converted the financial statements of these subsidiaries from the accounting principles generally accepted in their respective countries to the accounting principles generally accepted in India. We have audited the conversion adjustments made by the Holding Company's management. Our opinion, in so far as it relates to the balances and affairs of these subsidiaries, is based on the reports of the other auditors and the conversion adjustments prepared by the management of the Holding Company and audited by us. Our opinion on the consolidated financial statements and our report on Other Legal and Regulatory Requirements is not modified with respect to our reliance on the work done and reports of the other auditors and the financial statements and other financial information certified by the Management.