What must a Companies Act audit exemption statement say if accounts prepared under Companies Act 1985?
If the accounts prepared under the Companies Act 1985 are to be exempt from audit then a statement by the directors (required by section 249B (4) of the Companies Act 1985) must appear on the balance sheet to the effect that: • for the year in question the company was entitled to exemption under subsection (1) of section 249A of the Companies Act 1985, • members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 249B(2) of the Companies Act 1985, • the directors acknowledge their responsibilities for: • ensuring that the company keeps accounting records which comply with section 221 of the Companies Act 1985, and • preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of it income and expenditure for the financial year in accordance with the requirements of section 226 of the Companies Act 1985, and which otherwise comply with the requirements of
