Skip to content

CMA Final · Corporate and Economic Laws · Accounts and Audit

Regarding printing and circulation of audited liquidator's accounts under the Companies Act, 2013, which is correct?

The liquidator must cause the audited accounts, or a summary, to be printed and posted to every creditor and every contributory. The only relief is that the Tribunal may dispense with this requirement in any case it deems fit.

  1. AThe liquidator must send a printed copy of the accounts or a summary to every creditor and every contributory, unless the Tribunal dispenses with itCorrect
  2. BThe liquidator must send printed copies only to creditors, not contributories
  3. CPrinting is optional and needs no Tribunal permission to skip
  4. DOnly the Registrar needs to receive the printed accounts

Explanation

The liquidator must have the audited accounts or a summary printed and sent by post to every creditor and every contributory. The Tribunal may dispense with this in any case it deems fit. Limiting it to creditors, or treating it as optional, is wrong.

Did you get it right without looking?

One question tells you little. A timed set on Accounts and Audit shows your real accuracy, how long you take and where you lose marks.

Practise Accounts and AuditFree diagnostic mock

More Accounts and Audit questions