For each accounting period, the directors of a company are
responsible to prepare individual accounts comprising the balance
sheet as at the last day of the accounting period, the profit and
loss account for that period, the notes to the accounts and any
other statements which may be required.
The company shall, at each annual general meeting at which the
financial statements are presented, appoint an auditor or auditors
to hold office from the conclusion of that meeting until the
conclusion of the next general meeting.
Article 4(1) of the Accountancy Profession Regulations, 2016
states that audits and review engagements, may only be carried out
by an individual, in his name or on behalf of an audit firm,
holding a practicing certificate in auditing issued in terms of
article 4 of the Act.
