Articles of association, Business Law and Ethics

Articles of association:

The articles of association cannot absolve the auditors from any obligation imposed upon them by the statute....  Under the statute the members of the company are entitled to have the safeguard of an expression of opinion of the auditors to the effect, first, that the balance sheet and which is properly drawn up so as to exhibit a true and correct view of the state of the company's affairs.

The words "as shown by the books of the company" seem to me to be introduced to relieve the auditors from any responsibility as to affairs of the company kept out of the books and concealed from them there, but still not to confine it to a mere statement of the correspondence of the balance sheet with entries in the books.  A full and fair balance sheet must be such a balance sheet as to convey any known causes of weakness in the financial position, or suggest anything which cannot be supported as fairly correct in a business point of view."

Posted Date: 1/15/2013 2:40:35 AM | Location : United States







Related Discussions:- Articles of association, Assignment Help, Ask Question on Articles of association, Get Answer, Expert's Help, Articles of association Discussions

Write discussion on Articles of association
Your posts are moderated
Related Questions
Legal Personality and Natural Persons Legal Personality Therefore from a legal point of view there a person is anything that the laws of a particular country recognize

In 2004 the Corporations and Markets Advisory Committee proposed that assets and liabilities of companies be aggregated and creditors paid from a common pool which is commonly refe

Important points - Contractual Capacity of Drunken Persons Here the following points should be notice for as: Ratification Well a drunken man who enters into

QUESTION 1 (a) What are the essential elements for a valid contract as stipulated by article 1108 of the Civil Code (CCM)? (b) How can consent be vitiated in relation to con

What is the neighbour rule? Duty of care: There is a duty of care by anyone to other where this can be reasonably foreseen which one’s action may injure another (negligen

Statutory Form:                    Section 14 of the Act provides that the form of the  Memorandum of Association of a company limited by shares shall be in accordance with th

Nationality of criminal jurisdiction Nationality is the legal concept which provides a link between a State and persons living within that State. It determines the rights and o

QUESTION The vision of a modern and efficient Public Service is to ensure good governance and achieve excellence in the delivery of public services (a) Define good governance

Advantages of Stare Decisis - Flexibility Since of the freedom that final Court of Appeal always has to depart from a previous decision of its own whether the social condi

Question : Public Relations units in organizations are generally considered as expense centres, as only the input and expenditures can be measured adequately. Therefore, to sec