3.1.1. Obligation to prepare financial statements

A Reporting Entity must:

1. (a)    prepare and maintain all financial statements in accordance with the International Financial Reporting Standards (IFRS) or other financial reporting standards acceptable to the AFSA;
2. (b)    prepare and file an annual report which meets the requirements in MAR 3.2 for each financial year of the Reporting Entity; and
3. (c)    in addition to the annual report, prepare and file a semi-annual report which meets the requirements in MAR 3.3.1 in respect of Shares, Warrants or Certificates over Shares.

3.1.2 Audit of annual financial statements

The annual financial statements of a Reporting Entity must be audited by an independent, competent and qualified Auditor in accordance with the International Standards on Auditing as issued by the International Auditing and Assurance Standards Board (“IAASB”) or other standards acceptable to the AFSA.

3.1.3. Financial reporting standards

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