TMI BlogFinancial statement, Board’s report, etcX X X X Extracts X X X X X X X X Extracts X X X X ..... (2) The auditors report shall be attached to every financial statement. (3) There shall be attached to statements laid before a company in general meeting, a report by its Board of Directors, which shall include (a) the extract of the annual return as provided under sub-section (3) of section 92; (b) number of meetings of the Board; (c) Directors Responsibility Statement; (d) a statement on declaration given by independent directors under sub-section (6) of section 149; (e) in case of a company covered under sub-section (1) of section 178, company s policy on directors appointment and remuneration including cr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng identification therein of elements of risk, if any, which in the opinion of the Board may threaten the existence of the company; (o) the details about the policy developed and implemented by the company on corporate social responsibility initiatives taken during the year; (p) in case of a listed company and every other public company having such paid-up share capital as may be prescribed, a statement indicating the manner in which formal annual evaluation has been made by the Board of its own performance and that of its committees and individual directors; (q) such other matters as may be prescribed. (4) The report of the Board of Directors to be attached to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... effectively; Explanation. For the purposes of this clause, the term internal financial controls means the policies and procedures adopted by the company for ensuring the orderly and efficient conduct of its business, including adherence to company s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information; (f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. (6) The Board s report and any annexures thereto under sub ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
