137. Auditor’s report to Company

(1) A Company’s Auditor must make a report to the Company’s Shareholders on the accounts examined by the Auditor.

(2) The Auditor’s report must state:

• (a) whether, in the Auditor’s opinion, the accounts have been properly prepared in accordance with these Regulations and the Rules; and
• (b) in particular, whether the accounts give a true and fair view of the profit or loss of the Company for the financial year and of the state of the Company’s affairs at the end of the financial year; and
• (c) any other matter or opinion required under these Regulations or the Rules.

(3) Contravention of this section is punishable by a fine.