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What are the contents of Board Report?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 rohith asked almost 3 years ago

Hi I am Rohith. I am studying CS. I am having doubt about company law. May I know, What are the contents of Board Report?

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5 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

The principal activities of the company With corporate governance becoming a critical issue worldwide, a section on corporate governance has become a fixture in the Directors Report. This section reveals the extent to which a company is complying with provisions of the revised Combined Code on corporate governance. Corporations are also including information relating to the composition of their board in the Directors Report. The number of independent directors on the board has become important after the recent raft of accounting scandals.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

(a) the state of the company's affairs (b) the amounts, if any, which it proposes to carry to any reserves in such balance sheet (c) the amount, if any, which it recommends should be paid by way of dividend; (d) material changes and commitments, if any, affecting the financial position of the company which have occurred between the end of the financial year of the company to which the balance sheet relates and the date of the report

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 shalu answered over 2 years ago

Section 134 of Companies Act 2013:- Board of Directors report include— (a) the extract of the annual return as provided under sub-section (3) of section 92; (b) number of meetings of the Board; (c) Directors’ Responsibility Statement; (d) a statement on declaration given by independent directors under sub-section (6) of section 149; (e) in case of a company covered under sub-section (1) of section 178, company’s policy on directors’ appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under sub-section (3) of section 178; (f) explanations or comments by the Board on every qualification, reservation or adverse remark or disclaimer made— (i) by the auditor in his report; and (ii) by the company secretary in practice in his secretarial audit report; (g) particulars of loans, guarantees or investments under section 186; (h) particulars of contracts or arrangements with related parties referred to in sub-section (1) of section 188 in the prescribed form; (i) the state of the company’s affairs; (j) the amounts, if any, which it proposes to carry to any reserves; (k) the amount, if any, which it recommends should be paid by way of dividend; (l) material changes and commitments, if any, affecting the financial position of the company which have occurred between the end of the financial year of the company to which the financial statements relate and the date of the report; (m) the conservation of energy, technology absorption, foreign exchange earnings and outgo, in such manner as may be prescribed; (n) a statement indicatingrisk management policy. (o) corporate social responsibility initiatives taken during the year; (p) in case of a listed company and every other public company having such paid-up share capital as may be prescribed, a statement indicating the manner in which formal annual evaluation has been made by the Board of its own performance and that of its committees and individual directors; (q) such other matters as may be prescribed.

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Open uri20170510 32134 1uwcnoc?1494421631 Shubhangi Jain answered almost 3 years ago

There shall be attached to every balance sheet laid before a company in general meeting, a report by its Board of directors, with respect to - (a) the state of the company's affairs (b) the amounts, if any, which it proposes to carry to any reserves in such balance sheet (c) the amount, if any, which it recommends should be paid by way of dividend; (d) material changes and commitments, if any, affecting the financial position of the company which have occurred between the end of the financial year of the company to which the balance sheet relates and the date of the report (e) the conservation of energy, technology absorption, foreign exchange earnings and outgo, in such manner as may be prescribed. (f) The Board's report shall also include a statement showing the name of every employee of the company who if employed throughout the financial year, was in receipt of remuneration for that year which, in the aggregate, was not less than [such sum as may be prescribed or if employed for a part of the financial year.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 phool chandra singh answered almost 3 years ago

Dear, your query is that What are the contents of Board Report? answer of your query is that Contents of the directors’ report Directors Reports should provide a review of the company's business. The Directors Report should disclose the dividend that the directors are recommending and the amount which they wish to carry to the reserves. The directors report should also highlight any changes to the board of directors. Other issues that should be included in a Directors Report are details of subsidiary undertakings, directors' interests, details of annual general meeting, statement of responsibilities and the details of the directors' remuneration report. The principal activities of the company With corporate governance becoming a critical issue worldwide, a section on corporate governance has become a fixture in the Directors Report. This section reveals the extent to which a company is complying with provisions of the revised Combined Code on corporate governance. Corporations are also including information relating to the composition of their board in the Directors Report. The number of independent directors on the board has become important after the recent raft of accounting scandals. Although a Directors Report resembles an Operating and Financial Review in many respects, there are certain areas where it differs. The Directors Report contains additional information such as Ø dividend recommendation, Ø details of the directors' Ø remuneration report, Ø .the names of the persons who, at any time during the financial year, were directors of the company; Ø the principal activities of the company in the course of the year; The Operating and Financial Review, by contrast, focuses on the operational and financial performance of a company. In the past few years, the front-end of the annual report has become heavy with several messages from the senior management. In addition to the chairman's message, most annual reports contain a letter from the chief executive, business review and more recently, the Operating and Financial Review. The Directors Report, as a result, has been pushed to the middle of the annual report, closer to the financial statements and the auditor report. With annual reports of most companies comprising several reports from the senior management in addition to directors information repetition of facts has become endemic. While the Directors Report continues to remain unique due to the nature of its communication, the introduction of an Operating and Financial Review may necessitate a rationalisation of the messages from the senior management. Thanks & Regards,

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