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AUDITOR'S REPORT TO THE MEMBERS ON REVIEW OF INTERIM FINANCIAL<br />
INFORMATION<br />
AUDITOR'S REPORT TO THE MEMBERS ON REVIEW OF INTERIM FINANCIAL<br />
INFORMATION<br />
We have reviewed the accompanying condensed interim balance sheet of <strong>Wateen</strong> Telecom<br />
Limited as at <strong>Dec</strong>ember 31, 2010 and the related condensed interim profit and loss account,<br />
condensed interim statement of comprehensive income, condensed interim cash flow<br />
We have reviewed the accompanying condensed interim balance sheet of <strong>Wateen</strong> Telecom<br />
statement and condensed interim statement of changes in equity and notes to the interim<br />
Limited<br />
financial<br />
as<br />
information<br />
at <strong>Dec</strong>ember<br />
for the<br />
31,<br />
six<br />
2010<br />
months<br />
and the<br />
period<br />
related<br />
ended<br />
condensed<br />
(here-in-after<br />
interim<br />
referred<br />
profit<br />
to<br />
and<br />
as the<br />
loss<br />
"interim<br />
account,<br />
condensed<br />
financial information").<br />
interim statement<br />
Management<br />
of<br />
is<br />
comprehensive<br />
responsible for<br />
income,<br />
the preparation<br />
condensed<br />
and presentation<br />
interim cash<br />
of this<br />
flow<br />
statement interim financial and condensed information interim accordance statement with of approved changesaccounting equity standards notesastoapplicable<br />
the interim<br />
financial Pakistan. information Our responsibility for the sixismonths to express period a conclusion ended (here-in-after on this interim referred financial to as information the "interim<br />
financial based oninformation"). our review. The Management figures of the is responsible condensed interim for the profit preparation and lossand account presentation for quarters of this<br />
interim ended financial <strong>Dec</strong>emberinformation 31, 2010 and in accordance 2009 have not withbeen approved reviewed, accounting as we are standards requiredastoapplicable<br />
review<br />
inonly Pakistan. the cumulative Our responsibility figures for the is to sixexpress months period a conclusion ended <strong>Dec</strong>ember on this interim 31, 2010. financial information<br />
based on our review. The figures of the condensed interim profit and loss account for quarters<br />
ended <strong>Dec</strong>ember 31, 2010 and 2009 have not been reviewed, as we are required to review<br />
only the cumulative figures for the six months period ended <strong>Dec</strong>ember 31, 2010.<br />
We conducted our review in accordance with International Standard on Review Engagements<br />
2410, "Review of Interim Financial Information Performed by the Independent Auditor of the<br />
Entity". A review of interim financial information consists of making inquiries, primarily of<br />
We persons conducted responsible our review for financial accordance and accounting with International matters, Standard applying on analytical Review Engagements<br />
and other<br />
2410, review"Review procedures. of Interim A review Financial is substantially Information less Performed in scope by the than Independent an audit conducted Auditor ofinthe<br />
Entity". accordance A review with International of interim financial Standards information on Auditing consists and consequently of makingdoes inquiries, not enable primarily us to of<br />
persons obtain assurance responsiblethat for we financial would and become accounting aware matters, of all significant and applying matters analytical that might and be other<br />
review<br />
identified<br />
procedures.<br />
in an audit.<br />
A<br />
Accordingly,<br />
review is<br />
we<br />
substantially<br />
do not express<br />
less<br />
an<br />
in<br />
audit<br />
scope<br />
opinion.<br />
than an audit conducted in<br />
accordance with International Standards on Auditing and consequently does not enable us to<br />
obtain assurance that we would become aware of all significant matters that might be<br />
identified in an audit. Accordingly, we do not express an audit opinion.<br />
Based on our review, nothing has come to our attention that causes us to believe that the<br />
accompanying interim financial information as of and for the six months period ended<br />
<strong>Dec</strong>ember 31, 2010 is not prepared, in all material respects, in accordance with approved<br />
accounting standards as applicable in Pakistan.<br />
Based on our review, nothing has come to our attention that causes us to believe that the<br />
accompanying interim financial information as of and for the six months period ended<br />
<strong>Dec</strong>ember H~ 31, 2010 is not prepared, in all material respects, in accordance with approved<br />
accounting Chartered Accountants<br />
standards as applicable in Pakistan.<br />
Islamabad: January 20, 2012<br />
H~<br />
Chartered Accountants<br />
Islamabad: January 20, 2012<br />
............................................................................................................................................................................................................................................................................<br />
:A. F. FERGUSON & CO., Chartered Accountants, a member firm of the PwC network<br />
PIA Building, 3rd FloOr, 49 Blue Area, Fazl-ul-Haq Road, P.O. Box 3021, Islamabad-44000, Pakistan<br />
Tel: +92 (51) 2273457-60/2870045-8; Fax: +92 (51) 2277924; < www.pwc.com/pk><br />
Karachi: State Life Building No. 1-C, 1.1. Chundrigar Road, P.O. Box 4716, Karachi-74000, Pakistan; Tel: +92 (21) 32426682-5132426711-5; Fax: +92 (21) 32415007<br />
............................................................................................................................................................................................................................................................................<br />
Lahore: 23-C, Aziz Avenue, Canal Bank, Gulberg V, P.O. Box 39, Lahore-54660, Pakistan; Tel: +92 (42) 35715864-71; Fax: +92 (42) 35715872<br />
:A. Kabul: F. FERGUSON House No. 1916, & CO., Street Chartered NO.1, BehindAccountants, Cinema Bariqot, aNahar-e-Darsan, member firm Karte-4, of the PwC Kabul, network Afghanistan; Tel: +93 (779) 315320, +93 (799) 315320<br />
PIA Building, 3rd FloOr, 49 Blue Area, Fazl-ul-Haq Road, P.O. Box 3021, Islamabad-44000, Pakistan<br />
Tel: +92 (51) 2273457-60/2870045-8; Fax: +92 (51) 2277924; < www.pwc.com/pk><br />
WATEEN TELECOM LIMITED half yearly report dec ‘10<br />
Karachi: State Life Building No. 1-C, 1.1. Chundrigar Road, P.O. Box 4716, Karachi-74000, Pakistan; Tel: +92 (21) 32426682-5132426711-5; Fax: +92 (21) 32415007<br />
Lahore: 23-C, Aziz Avenue, Canal Bank, Gulberg V, P.O. Box 39, Lahore-54660, Pakistan; Tel: +92 (42) 35715864-71; Fax: +92 (42) 35715872<br />
Kabul: House No. 1916, Street NO.1, Behind Cinema Bariqot, Nahar-e-Darsan, Karte-4, Kabul, Afghanistan; Tel: +93 (779) 315320, +93 (799) 315320<br />
05
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