Statutory Registers
The registers a company is legally required to maintain under the Companies Act — of members, directors, charges, related party contracts and others — distinct from its accounting books.
Related terms
- Statutory Audit
The audit a company is legally required to undergo under the Companies Act, resulting in an opinion filed with the regulator and shareholders — as distinct from an internal audit, which reports internally.
- Statutory Auditor vs. Internal Auditor
The statutory auditor is independent of the company and reports externally to shareholders on the financial statements; the internal auditor is typically engaged by (or employed within) the company and reports internally on operational and control matters.
- Stock Audit
A physical verification and valuation exercise over a company's inventory, often performed by a third party at a bank's request as a condition of working capital finance.
- Subsequent Events
Events occurring between the balance sheet date and the date the financial statements are approved, which may require adjustment or disclosure.
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