Section 29 and Regulation 27: Financial statements
June 7, 2016
Companies Act 2008
Section 29 and Regulation 27
The published annual financial statements of a company must:
- satisfy the applicable financial reporting standards (either IFRS or IFRS for SMEs);
- fairly present the state of affairs and business of the company;
- explain the transactions and financial position of the company;
- present the assets, liabilities, equity, income and expenses and any other prescribed information;
- specify the date the financial statements were produced and the applicable accounting period;
- prominently present, on the first page of the financial statements whether the financial statements have been:
- audited; or
- independently reviewed; or
- neither audited nor independently reviewed.
- present the name and professional designation of the individual who prepared or supervised the preparation of the financial statements.
The annual financial statements must not be incomplete, false or misleading in any way.
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