1974-HKRS28-16-22_Part06 — Page 9

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properly prepared in accordance with the provisions of this Ordinance applicable to such companies and whether in their opinion. on the basis aforesaid, a true and fair view is given-

(1) in the case of the balance sheet, of the state of the company's affairs as at the end of its financial year;

(ii) in the case of the profit and loss account (if it is not framed as a consolidated profit and loss account), of the company's profit or loss for its financial year;

(i) in the case of group accounts sub- nitted by a holding company, of the state of affairs and profit or loss of the company and its subsidiaries dealt with thereby, so far as concerns members of the company.

(4) It shall be the duty of the auditors of a company, in preparing their report under this section. to carry out such investigatious as will enable them to form an opinion as to the following matters, that is to say.

(a) whether proper books of account have been kept by the company and proper returns adequate for their audit bave been received from branches not visited by them; and (b) whether the company's balance sheet and (unless it is framed as a consolidated profit and loss account) profit and loss account are in agreement with the books of account and returns;

ΟΤ

and if the auditors are of opinion that proper books of account have not been kept by the company or that proper returns adequate for their audit have not been received from branches not visited by them. if the balance sheet and (unless it is framed as a consolidated profit and loss account) profit and loss account are not in agreement with the books of ac- count and returns, the auditors shall state that fact in their report

(5) Every auditor of a company shall have a right of access at all times to the books and accounts and vouchers of the company, and shall be entitled to

Special provisions

in respect of financial

years ending before 30.9.7.5.

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require from the officers of the company such infor- mation and explanations as he thinks necessary for the performance of the duties of the auditors:

Provided that, in the case of a banking company which bas branch banks beyond the limits of the Colony, it shall be sufficient (subject to the powers of the auditors under subsections (4) and (6)) if the auditor is allowed access to such copies and extracts from such books and accounts of any such branch as have been transmitted to the head office of the company in the Colony,

(6) If the auditors fail to obtain all the infor- mation and explanations which, to the best of their knowledge and belief, are necessary for the purposes of their audit, they shall state that fact in their report.

(7) The auditors of a company shall be entitled to attend any general meeting of the company and to reccive all notices of, and other communications relating to, any general meeting which any member of the company is entitled to receive, and to be heard at any general meeting which they attend on any part of the business of the meeting which concerns them as auditors.

141A. (1) Sections 123, 128, 129 and 129A shall not apply to a balance sheet or profit and loss account of a company laid before it in general meeting in respect of a financial year ending before 30th September 1975, but all the provisions of this Ordin- ance which were in force at the end of the financial year in relation to a balance sheet or profit and loss account required to be laid before a company in general meeting shall apply in relation to any balance sheet or profit and loss account laid before a company in general meeting in respect of a financial year ending before 30th September 1975.

(2) Section 124 shall not operate so as to require group accounts to be laid before a company in general meeting along with the company's own balance sheet and profit and loss account in any case where the company's own balance sheet and profit and loss account which are being laid before the company in general meeting are in respect of a financial year ending before 30th September 1975, and sections 125.