Companies Act (Cap. 386), article 179A

179A. (5) Every copy of the auditors’ re port which is laid before the company in general meeting, or which is otherwise circulated, published or issued, shall state the names of the auditors. (6) The copy of the auditors’ report which is delivered to the Registrar shall state the names of the auditors and be signed b y them: Provided that without prejudice to this sub-article, when a copy of the auditors’ report is submitted to the relevant compe tent authority as part of the company’s reporting obligations in con formity with the European Single Electr onic Format reporting standard, in accordance with Commission Delega ted Regulation (EU) 2019/815 o f 17 December 2018 supplementing Directive 2004/109/EC of the European Parliament and of the Co uncil with regard to regulator y technical standards on the specification of a single electronic reporting format, such copy shall be transmitted to the Registrar by mean s of an application programming interfac e or by similar electronic mean s. (7) If a copy of the auditors’ report - (a) is laid before the company, or otherwise circulated, published or issued, without the required statement of the auditors’ names; or (b) is delivered to the Registrar without the required statement of the auditors’ names or without being signed as required by this article, every officer of the company who is in default shall be liable to a penalty. (8) References in this article to signature by the auditors are, where the office of audi tor is held by an audit firm, to the si gnature of a principal authorised to sign on behalf of such audit firm. (9) A company’s auditors shall, in preparing their report, carry out such investigations as will enable them to form an opinion as to - (a) whether proper accounting records have been kept by the company and proper returns adequate for their audit have been received from branches not visited by them, and (b) whether the company’s individual accounts are in agreement with the accoun ting records and returns. (10) If the auditors are of the opinion that proper accounting records have not been kept, or that proper returns adequate for their audit have not been received from branches not visited by them, or if the company’s individual accounts are not in agreement with the accounting records and returns, the auditors shall state that f act in their report. COMP ANIES [CAP. 386. 121 (11) If the auditors are unable to obtain all the information an d explanations which, to the best of their knowledge and belief, are necessary for the purpose of thei r audit, they shall state that fact in their report. Cap. 281. (12) In this article "audit firm", "generally accepted auditing standards" and "principal", shall have the meaning assigned to them in the Accountancy Profession Act or regulations issued in terms thereof. (13) The audit report on the cons olidated financial statements shall comply with the requirements set out in this article and in article 179A. In reporting on the consistency of the directors’ report and the financial statements the auditor or audit firm shall consider the consolidated financial statements and the consolid ated directors’ report. Where the an nual financial statements of the parent undertaking are attached to the consolidated financial statements, the audit reports required by this article may be combined. Audit reporting. Added by; XXXVI. 2016.23. 179A. (1) The audit report sha ll be in writing and shall: (a) identify the entity whose annual or consolidated f i n a n c i a l s t a t e m e n t s a r e t h e s u b j e c t o f t h e s t a t u t o r y audit; specify the annual o r consolidated financial statements and the date and period they cover; and identify the financial re porting framework that has been applied in their preparation; (b) include a description of the scope of the statutory audit which shall, as a minimum, identify the auditing standards in accordance with which the statutory audit was conducted; (c) include an audit opinion, which shall be either unqualified, qualified or an adverse opinion and shall state clearly the opinion of the auditor(s) or the audit firm(s) as to: (i) whether the annual financial statements give a true and fair view in accordance with the relevant financial rep orting framework; and (ii) where appropriate, whe ther the annual financial statements comply with statutory requirements. If the statutory auditor(s) or the audit firm(s) are unable to express an audit opinion, the report shall contain a disclaimer of opinion; (d) refer to any other matters to which the auditor(s) or the audit firm(s) draw(s) attention by way of emphasis without qualifying the audit opinion; (e) include an opinion and statement, both of which shall be based on the work undert aken in the course of the audit, referred to in article 179(3); (f) provide a statement on any material uncertainty relating to events or conditions that may cast significant doubt about the entity’s ability to continue 122 CAP. 386.] COMP ANIES as a going concern; (g) identify the place of establis hment of the auditor(s) or the audit firm(s). (2) Where the statutory audit was carried out by more than one auditor or audit firm, the auditor(s) or the audit firm(s) shal l agree on the results of the statutory audit and submit a joint report and opinion. In the case of disagr eement, each statutory auditor or audit firm shall submit his, her or its opinion in a separate paragra ph of the audit report and shall state th e reason for the disagreemen t. (3) The audit report shall be signed and dated by the auditor. Where an audit firm carries out the statutory audit, the audit report shall bear the signature of at least the auditor(s) carrying ou t the statutory audit on behalf of the audit firm. Where more than on e auditor or audit firm have been simultaneously engaged, the aud it report shall be signed by all a uditors or at least by the audit ors carrying out the statutory audit on behalf of every audit firm: Provided that the audit report may also be co-signed by an auditor authorised in another Member State as long as he/she/it is a member of the same network and has obtained the prior written consent of the Board. (4) Without prejudice to the provisions of sub-articles (1) to (3), and articles 179 and 179B, the scope of the statutory audi t shall not include assurance on the fut ure viability of the audited en tity or on the efficiency or effectivene ss with which the management or the board of directors has conduc ted or will conduct the affair s of the entity. Audit report. Added by; XXXVI. 2016.23.