The Annual Accounts & Audit Subfolder details the legal requirements governing accounting & audit requirements for private companies under the Companies Act 2006. It provides a summary guidance note and a range of template documents, including board minutes and shareholder resolutions for use by finance directors and company secretaries in preparing the accounts and dealing with auditors.
Companies are expressly required by law to keep “adequate accounting records
” which are “sufficient to show and explain the company’s transactions
”. This in practice means that private companies must prepare and file annual accounts with non-compliance being a criminal offence. This Sub-folder therefore includes a Guidance Note, Accounts, Audit and other statutory filings, which is a practical “how to” guide for company secretaries and finance directors in relation to the preparation and distribution of the annual accounts which includes the recent December 2013 regulations covering accounting exemptions for micro-entities. The guidance note also considers audit requirements and the process of appointing, removing or replacing an auditor as well as what other statutory filings (such as the annual return) need to be made and within what time scale so that company directors can fulfil their obligations to ensure that Companies House has, at all times, up-to-date information.
The other documents listed below are the board minutes, shareholder resolutions, letters and Companies House forms required in the process of approving the annual accounts and appointing, removing or replacing the auditors in order to comply with the Companies Act 2006 and as set out in the covering guidance note.
Each document in the Annual Accounts and Audit subfolder is fully compliant with the Companies Act 2006.
The documents in the Annual Accounts & Audit subfolder are part of the Corporate folder. Access all Corporate documents for £35 + VAT.