What type of audit report it is? whether it is showing the Unqualified opinion, or Qualified opinion, or Adverse opinion, or Disclaimer of opinion?

After mentioning the type of audit report, explain why are you considering it as Unqualified opinion or Qualified opinion, or Adverse opinion, or Disclaimer of opinion?

Report of the Audit Committee This report of the Audit Committee of Beximco Pharmaceuticals Limited is being presented in pursuance with the Corporate Governance Guidelines of Bangladesh Securities and Exchange Commission (BSEC), dated June 03, 2018. The principal purpose of the Audit Committee is to assist the Board in effective fulfillment of its oversight responsibilities. The Committee has distinct Terms of Reference (ToR) developed conforming to the Code of Corporate Governance issued by the BSEC which includes but not confined to overseeing the financial reporting process, monitoring accounting policies and principles, evaluating internal control system, reviewing the statement of significant related party transactions, assessing potential conflict of interests, reviewing the management discussion and analysis, overseeing selection and performance of external auditors and reviewing the financial statements of subsidiary companies. This report is a brief on the activities performed by the Audit Committee throughout the year. Review of Financial Statements The Audit Committee in its meeting held on 25 October 2020 reviewed along with management, the financial statements and the report of the auditors of the company and its subsidiaries for the year ending on June 30, 2020. During the meeting Mr. Mohammad Ali Nawaz, the Chief Financial Officer of the Company presented the annual accounts along with the independent auditors report to the Committee. Detailed discussions on the financial statements were held with the representatives of the management of the Company. The CFO briefed the Committee that the consolidated as well as standalone financial statements have been prepared in compliance with IFRS/IAS. He appraised the Committee that the accounting policies applied in preparation of the financial statements are consistent with those of the previous financial years and are within the framework of international accounting standards and practices. The Committee reviewed the significant estimates and judgements made in preparation of the accounts and looked into their prudence and justification. They also evaluated the compliance of the financial statements to the disclosure requirements as per IFRS/AS and other regulatory authorities including BSEC. They further discussed the financial reporting process and the adequacy of the internal control system of the Company in place, to prevent errors and fraudulent activities. The Committee carefully examined the related party transactions carried out among different associated companies including the subsidiary. The Committee was well satisfied that the related party transactions were made on an arm's length basis in the normal course of business and the transactions have been appropriately disclosed in the financial statements as per IAS 24: Related Party Disclosures.' The independent auditors' report also did not contain any material audit observation that called for the Boards' consideration. The Committee being satisfied authorized for onward submission of the annual audited financial statements to the Board for approval. Additionally, during the year the Committee met three other occasions to review among others, the interim un-audited financial statements issued by the Company at quarter ends. In each instance, the Committee held detailed discussions with senior management on different aspects of the financial statements to ensure accuracy, consistency and compliance of the reports in all material aspects. The Committee also considered the related party transactions and found that all related party transactions were made on an arm's length basis. In reliance to the reviews and considerations of the Audit Committee the Board in each case approved the financial statements including the annual audited financial statements for release to the shareholders. Changes in the Composition of the Committee Dr. Abdur Rahman Khan an Independent Director of the Board and the Chairman of the Audit Committee retired from the Board on completion of his tenure of office for two consecutive terms of three year each. He has been replaced by Mr. Mamatz Uddin Ahmed, Professor, Department of Accounting and Information system and Treasurer, University of Dhaka. The Board has appointed Mr. Ahmed as Chairman of the Audit Committee. The Committee has been reconstituted as follows: Report of the Audit Committee This report of the Audit Committee of Beximco Pharmaceuticals Limited is being presented in pursuance with the Corporate Governance Guidelines of Bangladesh Securities and Exchange Commission (BSEC), dated June 03, 2018. The principal purpose of the Audit Committee is to assist the Board in effective fulfillment of its oversight responsibilities. The Committee has distinct Terms of Reference (ToR) developed conforming to the Code of Corporate Governance issued by the BSEC which includes but not confined to overseeing the financial reporting process, monitoring accounting policies and principles, evaluating internal control system, reviewing the statement of significant related party transactions, assessing potential conflict of interests, reviewing the management discussion and analysis, overseeing selection and performance of external auditors and reviewing the financial statements of subsidiary companies. This report is a brief on the activities performed by the Audit Committee throughout the year. Review of Financial Statements The Audit Committee in its meeting held on 25 October 2020 reviewed along with management, the financial statements and the report of the auditors of the company and its subsidiaries for the year ending on June 30, 2020. During the meeting Mr. Mohammad Ali Nawaz, the Chief Financial Officer of the Company presented the annual accounts along with the independent auditors report to the Committee. Detailed discussions on the financial statements were held with the representatives of the management of the Company. The CFO briefed the Committee that the consolidated as well as standalone financial statements have been prepared in compliance with IFRS/IAS. He appraised the Committee that the accounting policies applied in preparation of the financial statements are consistent with those of the previous financial years and are within the framework of international accounting standards and practices. The Committee reviewed the significant estimates and judgements made in preparation of the accounts and looked into their prudence and justification. They also evaluated the compliance of the financial statements to the disclosure requirements as per IFRS/AS and other regulatory authorities including BSEC. They further discussed the financial reporting process and the adequacy of the internal control system of the Company in place, to prevent errors and fraudulent activities. The Committee carefully examined the related party transactions carried out among different associated companies including the subsidiary. The Committee was well satisfied that the related party transactions were made on an arm's length basis in the normal course of business and the transactions have been appropriately disclosed in the financial statements as per IAS 24: Related Party Disclosures.' The independent auditors' report also did not contain any material audit observation that called for the Boards' consideration. The Committee being satisfied authorized for onward submission of the annual audited financial statements to the Board for approval. Additionally, during the year the Committee met three other occasions to review among others, the interim un-audited financial statements issued by the Company at quarter ends. In each instance, the Committee held detailed discussions with senior management on different aspects of the financial statements to ensure accuracy, consistency and compliance of the reports in all material aspects. The Committee also considered the related party transactions and found that all related party transactions were made on an arm's length basis. In reliance to the reviews and considerations of the Audit Committee the Board in each case approved the financial statements including the annual audited financial statements for release to the shareholders. Changes in the Composition of the Committee Dr. Abdur Rahman Khan an Independent Director of the Board and the Chairman of the Audit Committee retired from the Board on completion of his tenure of office for two consecutive terms of three year each. He has been replaced by Mr. Mamatz Uddin Ahmed, Professor, Department of Accounting and Information system and Treasurer, University of Dhaka. The Board has appointed Mr. Ahmed as Chairman of the Audit Committee. The Committee has been reconstituted as follows