ADVOKS GLOBAL · KENYA
Companies Act
677. Requirements in connection with publication of non-statutory financial statement
Edition: 2024-12-27 · In force
677. Requirements in connection with publication of non-statutory financial statement
(1)If a company publishes a non–statutory financial statement, it shall publish with it a statement indicating—(a)that it is not the company's statutory financial statement;(b)whether a statutory financial statement dealing with a financial year with which the non-statutory financial statement purports to deal has been lodged with the Registrar for registration; and(c)whether an auditor's report has been made on the company’s statutory financial statement for any such financial year, and if so whether the report—(i)was qualified or unqualified, or included a reference to any matters to which the auditor emphasised without qualifying the report;(2)The company shall not publish with a non-statutory financial statement the auditor's report on the company's statutory financial statement.(3)In this section, a reference to the publication by a company of a non-statutory financial statement is to the publication of—(a)any balance sheet or profit and loss account relating to, or purporting to deal with, a financial year of the company; or(b)a statement in any form purporting to be a balance sheet or profit and loss account for a group headed by the company relating to, or purporting to deal with, a financial year of the company, otherwise than as part of the company’s statutory financial statement.(4)In subsection (3)(b), "a group headed by the company" means a group consisting of the company and any other undertaking (regardless of whether it is a subsidiary undertaking of the company) other than a parent undertaking of the company.(5)If a company contravenes a provision of this section, the company, and each officer of the company who is in default, commit an offence and on conviction are each liable to a fine not exceeding five hundred thousand shillings.(6)This section does not apply in relation to the provision by a company of a summary financial statement under section 665.