Financial statement, Board's report, etc.

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....ereon.] (2) The auditors' report shall be attached to every financial statement. (3) There shall be attached to statements laid before a company in general meeting, a report by its Board of Directors, which shall include- ^3[(a) the web address, if any, where annual return referred to in sub-section (3) of section 92 has been placed;] (b) number of meetings of the Board; (c) Directors' Responsibility Statement; ^1[(ca) details in respect of frauds reported by auditors under sub-section (12) of section 143 other than those which are reportable to the Central Government;] (d) a statement on declaration given by independent directors under sub-section (6) of section 149; (e) i....

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....g identification therein of elements of risk, if any, which in the opinion of the Board may threaten the existence of the company; (o) the details about the policy developed and implemented by the company on corporate social responsibility initiatives taken during the year; (p) in case of a listed company and every other public company having such paid-up share capital as may be prescribed, a statement indicating the manner in which formal ^4[annual evaluation of the performance of the Board, its Committees and of individual directors has been made;] (q) such other matters as may be prescribed. ^5[Provided that where disclosures referred to in this sub-section have been included in the financial statements, suc....

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....d of the financial year and of the profit and loss of the company for that period; (c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; (d) the directors had prepared the annual accounts on a going concern basis; and (e) the directors, in the case of a listed company, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; Explanation.-For the purposes of this clause, the term "internal financial cont....

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.....]     ************** NOTES:- 1. Inserted vide Section 12 of the Companies (Amendment) Act, 2015 w.e.f. 29-05-2015 (Notified vide Notification No. S.O. 1440(E) dated 29-05-2015) 2. Substituted vide Section 36 of the Companies (Amendment) Act, 2017 w.e.f. 31-07-2018 (Notified vide Notification No. S.O. 3838(E) dated 31-07-2018) before it was read as, "(1) The financial statement, including consolidated financial statement, if any, shall be approved by the Board of Directors before they are signed on behalf of the Board at least by the chairperson of the company where he is authorised by the Board or by two directors out of which one shall be managing director ....