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
Contributions of Equity Contributions of Equity as: Developed the so called maxims of equity and Provided additional remedies and Provided for the discovery of

Incorporation  Osborne's "Concise Law Dictionary" defines incorporation as a "merging together to form a single whole; conferring legal personality upon an association of indi

Functions of Attorney general Whereas under sec 26(2) the Attorney General is the principal legal adviser for government of US And whereas he occupies a ministeria

Transactions Arising In A Liquidation: In collection in and realisation of assets in order to pay the company's debts and then to distribute any surplus to members the liquida

Provisional Contracts - Law of Contract However occasionally an agreement may be illustrated through the parties thereto as being as "a provisional agreement" until a legally

DIVIDENDS: As a commercial term, the word "dividends" has a variable meaning which depends on the context in which it is used. For purposes of company law, it denotes the paym

Explain UNSC Resolution 1624  and when it is passed The most-recent such resolution is UNSC Resolution 1624 passed in the year 2005. It states: "1. Calls upon all States to

QUESTION 1 Explain the following words- 1. Promissory condition 2. Contingent condition 3. Condition precedent 4. Concurrent conditions 5. Conditions subsequent

Sense of Urgenc: Entrepreneurs have a never-ending sense of urgency to develop their ideas. Inactivity makes them impatient, tense, and uneasy. They thrive on activity and are tir

Different ways through which States create International law There are different ways through which States create International law. International conventions mentioned under a