CORPORATE INFORMATION

INTRODUCTION

WHY??

INFORMATION TO BE INCLUDED IN SECTION C

• Company Name• Company registration number• Registered address• Principal place of business(If different )• Date of incorporation• Nature of business• Names of directors• Names of shareholders with percentage of

shareholding

INFORMATION TO BE INCLUDED IN SECTION C

• Names of bankers• Name of secretaries• Name of contact person with the contact

number• Any other information which you think

necessary

INFORMATION TO BE INCLUDED IN SECTION C

• Attachments– Form 06 (Share issue details)– Form 13 (Changes in registered address)– Form 15 (Annual return)– Form 18 (Consent of directors)– Form 19 (Consent of secretaries)– Form 20 (Changes in directors and secretaries)– All the resolutions passed during the year

INFORMATION TO BE INCLUDED IN SECTION C

• Document all significant changes during the post balance sheet period.

– Check resolutions passed after the balance sheet date– Inquire the client

ADDITIONAL WORKINGS

• Directors current account– Obtain name wise breakdown for director’s current account

balance.– Check whether there are any unusual journal entries passed.– Verify with supportive documents.– Document the nature of transactions recorded. – Obtain confirmations.

• Statement of changes in equity• Going concern

– Financial and non financial indicators

ADDITIONAL WORKINGS

• Financial indicators• Non financial indicators

What are non financial indicators

ADDITIONAL WORKINGS

• Solvency test– What is solvency– How to calculate– What needs to be checked

ADDITIONAL WORKINGS(CONTINUED)

• A company shall be deemed to have satisfied the solvency test, if-

• (a) it is able to pay its debts as they become due in the normal course of business; and

• (b) the value of the company's assets is greater than -

• (i) the value of its liabilities; and • (ii) the company's stated capital.

ADDITIONAL WORKINGS(CONTINUED)

• Check whether company can be categorized under SBE.

– Licensed banks– Insurance companies– Leasing companies– Factoring companies– Finance companies– Unit trusts– Fund management companies– Stock brokers or stock dealers– Companies operate stock exchange

ADDITIONAL WORKINGS(CONTINUED)

• OTHER COMPANIES– Annual turnover > 500Mn– Shareholders equity > 100Mn– Gross assets > 300Mn– Liabilities to banks and other financial institutions > 100Mn– Staff in excess of 1000 employees

ADDITIONAL WORKINGS(CONTINUED)

• Materiality level– If the company is profitable

• Profit after tax (5%-10%)– If the company has made a loss during the current year but

profited during previous years • Revenue (0.5%-1%)

– If the company has incurred losses continually• Net assets (2%-5%)

– If the company is bankrupted• Total assets (2%-5%)

THANK

YOU