Chapter 14 - Corporate Transparency

Question 1

What statutory registers must a company maintain?

Answer 1

Register of members
Register of directors
Register of secretaries
PSCs
Register of charges

Question 2

What are the requirements for annual report and accounts?

Answer 2

Companies must prepare annual report and accounts, including a strategic report, directors’ report and auditor’s report (for larger companies).

Question 3

What is the role of the auditor?

Answer 3

To provide an independent opinion on whether the financial statements give a true and fair view.

Question 4

What is the confirmation statement?

Answer 4

A statement confirming that company information is up to date, replacing the annual return.

Question 5

Quick Hit
Statutory Register

Answer 5

Official company records required by law.

Question 6

Quick Hit
Auditor

Answer 6

Independent review of financial statements

Question 7

Quick Hit
Confirmation Statement

Answer 7

Annual filing confirming company details

Question 8

Quick Hit
Strategic Report

Answer 8

Overview of company performance and strategy