Guernsey:
Company Law In Guernsey - Accounts And Audit
26 February 1999
KPMG
To print this article, all you need is to be registered or login on Mondaq.com.
There are no statutory requirements regulating the form and content of accounts, apart from certain regulations covering accounts for banks, mutual funds and insurance companies, but in practice the layout is similar to accounts prepared in the UK. UK Statements of Standard Accounting Practice, Financial Reporting Standards and International Accounting Standards are observed by the accountancy profession in the Island as referred to in the Guernsey Statements of Standard Accounting Practice.
An annual audit is required by law unless the company falls within the Companies (Exemption from Audit) Ordinance 1991. This Ordinance permits asset-owning and dormant companies to be exempt from audit under certain conditions.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Brussels considers extending the Taxonomy Regulation to include social objectives like human rights. The implications – and complications – are huge...
It is for the board of directors to decide whether to take into account climate change risks when exercising their decision-making duties, not for the court to require it, a ruling has confirmed.
On the 28th February 2024, the European Council failed to reach an agreement on the final draft of the EU's proposed Corporate Sustainability Due Diligence Directive...
On 5 October 2023, The European Council adopted the Green Bond regulation, creating The European Green Bond Standard (EU-GBS) and setting new measures to reduce greenwashing.
FREE News Alerts
Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email.