Edhi

AUDITORS’ REPORT TO THE TRUSTEES We have audited the annexed Balance Sheet of SAHARA FOR LIFE TRUST (THE “TRUST”) as at June 30, 2011 and the related Income and Expenditure Account and Cash Flow Statement together with the notes forming part thereof, for the year then ended and we state that we have obtained all the information and explanations which, to the best of our knowledge and belief, were necessary for the purpose of our audit. It is the responsibility of the Trust’s management to establish and maintain a system of internal control and prepare and present the above said statements in conformity with the approved accounting standards. Our responsibility is to express an opinion on these statements based on our audit. We conducted our audit in accordance with the auditing standards as applicable in Pakistan. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the above said statements are free of any material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the above said statements. An audit also includes assessing the accounting policies and significant estimates made by management, as well as, evaluating the overall presentation of the above said statements. We believe that our audit provides a reasonable basis for our opinion and, after due verification, we report that:(a) (b) in our opinion, proper books of account have been kept by the trust; In our opinion: (i) the balance sheet and income and expenditure account together with the notes thereon are in agreement with the books of account and are further in accordance with accounting policies consistently applied; (ii) the expenditure incurred during the year was for the purpose of the trust’s business; and (iii) the business conducted, investments made and the expenditure incurred during the year were in accordance with the objects of the trust; (c) in our opinion and to the best of our