Accountancy Forum

Dear members (especially the ones from UK),

The Institute of Chartered Accountants has issued statement on internal controls, guiding directors of Public listed companies to review their internal controls and make a statement on the state of their internal controls (as a group)in its annual report. The code didn't specify any format for such statement by the BOard. I wud like to know how , in pratice Boards of public listed companies issue such statement. What are the precise wordings used in this regard. how they evaluate the state of their internal controls before making report to the share holders???? any other information in this reagrd -------<font face='Book Antiqua'></font id='Book Antiqua'><font size=5></font id=size5><font color=blue></font id=blue><font color=beige></font id=beige><font color=brown></font id=brown>

Idrees

salam
hmmm no reply.............<font face='Book Antiqua'></font id='Book Antiqua'><font size=6></font id=size6><font color=navy></font id=navy>

O Lord! Increase me in knowledge...Ameen!

Dear Idrees, here in paksitan, directors are not required to give any such statement with annual accounts, they are just require to state whether accounting and internal control systems are sound in desgin and have been operated effectively throught the relveant period or not but auditors are required to give a report on compliance with code of corporate governance and in that report they give report on internal and accounting system.
IF you need such report issued by the auditors then let me know.. i can forward you.