Reporting Process
The approval of financial statements by the board of directors is a crucial process ensuring compliance with relevant laws. It involves signature requirements based on the number of directors and mandates adherence to standards like IAS / IFRS. Offences are outlined for signing inaccurate statements or failing to prevent their approval.
Directors must also prepare reports covering various company aspects, with provisions for group statements. Audit exemptions are possible under specific conditions, with accompanying obligations and penalties for non-compliance.
Circulation of financial documents to shareholders is mandated, with provisions for electronic delivery and website access. Members have entitlements to financial statements upon request, with penalties for non-compliance.
Publication obligations outline requirements for financial statement dissemination, with offences for non-compliance. Financial statements must be laid before the company annually, with inspection rights granted to members.
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