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+--- Thread: Signatory requirement in published accounts (/thread-signatory-requirement-in-published-accounts)
Signatory requirement in published accounts - Ali.M - 03-13-2010
I have seen many published accounts.
Some of them contain signatures and some doesnot contain. However, Ordinance requires the accounts to be signed.
Is there any law relating that published accounts which distributed to the general public doesnot require signatures?
Regards,
- SKDhillon - 03-14-2010
Dear there is no law for not signing-off the accounts.
Many companies published on their web site un-signed accounts or right name of signatirees rather than signatures or write -sd- alongwith the designation. Even some companies those expected to give some dividend send un-signed accounts to the respective stock exchanges for announcement of early results. As per requirement of section 241(1) of the Companies Ordinance, 1984 accounts shall be approved by CEO and at least one director. And there is penality for non-compliance of this section.