24 June 2016
Can aomeone tell me if i am correct or wrong about the sequence of events:
1) First BOD prepares draft F.Statement and gives it to auditor.
2)Auditor audits it and prepares audit report and dates the audit report.
3)The auditor gives audit report to BOD and BOD approves it financial statements and signs on it and takes responsibility of F.Statement and they also prepare and approve Director's report(date of signing balance sheet).
4)The approved F.Statements are shown in AGM and auditors report and Director's report are also shown in AGM to shareholders.
And when are the F.Statements issued to outsiders and shareholders? After AGM or before AGM.Are outsiders given F.Statement beforehand along with notice of AGM?
please help ipcc student.
CAclubindia
