199. Accounting records and systems of control Flashcards
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- Accounting records and systems of control
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General overview
[199.01] Section 199 mandates every company to keep such accounting, financial and other records that will sufficiently explain the financial position of the company so as to give a true and fair view of the financial statements that are prepared by the company, and to enable them to be conveniently and properly audited (s 199(1)): see the Report of the Steering Committee for Review of the Companies Act, April 2011, Chapter 4, paras 101–105.
