Companies Act, 1973 (Act No. 61 of 1973)Chapter XI: Accounting and DisclosureAuditor's Duties as to Annual Financial Statements301. Auditor's report |
| 1) | When the auditor of a company has complied with the requirements of and has satisfied himself as to the matters stated in, section 300, and has carried out his audit fee from any restrictions whatsoever, he shall make a report to the members of the company to the effect that he has examined the annual financial statements and group annual financial statements and that in his opinion they fairly present the financial position of the company and its subsidiaries and the results of its operations and that of its subsidiaries in the manner required by this Act. |
| 2) | In the event of the auditor being unable to make such a report or to make it without qualification, he shall include in his report a statement to that effect and set forth the facts or circumstances which prevent him from so making his report or from making it without qualification. |
| 3) | The auditor's report under subsection (1) shall, unless all the members present agree to the contrary, be read out at the annual general meeting. |