Registered independent director Past Ch
8229 Points
Joined March 2007
Sequence that is usually followed in practice is:
- Accounts Department prepares draft of Balance Sheet
- Accounts Department gets the audit done; gets draft Balance Sheet cleared by the auditors and gets draft of audit report from auditors
- Board approves draft Balance Sheet; authorised directors sign on behalf of Board and give to auditors for their report
- Auditors also sign the Balance Sheet and give their report (this normally happens on the date of Board meeting when auditors are also present)
- Board approves draft of Directors' Report and the same is signed by the authorised directors
- Board approves draft of AGM notice and it is signed by authorised director [All this can happen in same Board meeting]
- Annual report (containing AGM notice, Directors' Report, auditors' report and Balance Sheet) is despatched to shareholders at least 21 days before AGM
- AGM is held on scheduled date
- Balance Sheet and annual return are filed with ROC after AGM