Month: January 2022

Section 151 of the companies Act Cap 486 states that: 1. Subject to subsection (2), the group accounts laid before a holding company shall be consolidated accounts comprising – a consolidated balance sheet dealing with the state of affairs of Read More …

Section 150 of the companies Act Cap 486 states that: (1) Where at the end of its financial year a company has subsidiaries, accounts or statements (in this Act referred to as group accounts) dealing as hereinafter mentioned with the Read More …

Section 149 of the companies Act Cap 486 states that: (1) Every balance sheet of a company shall give a true and fair view of the state of affairs of the company as at the end of its financial year, Read More …

Section 148 of the companies Act Cap 486 states: (1) The directors of every company shall, at some date not later than eighteen months after the incorporation of the company and subsequently once at least in every calendar year, lay Read More …

Section 147 of the companies Act Cap 486 states: (1) Every company shall cause to be kept in the English language proper books of account with respect to–  All sums of money received and expended by the company and the Read More …

Introduction The chapter details the companies Act Cap 486 requirements on the keeping of accounting records and books by incorporated companies. The accountant and the auditor must familiarize himself or herself with requirements before he/she carries out the audit work. Read More …