Board Resolution: Approval of Annual Financial Statements
Approve the audited financial statements at a board meeting, authorise their signing and fix the date of the AGM where members adopt them.
What it is
Under Section 134 of the Companies Act, 2013, the financial statements are approved by the board before they are signed and sent to the auditor for the report and to the members. They are signed by the chairperson authorised by the board, or by two directors one of whom is the managing director where there is one, and by the CEO, CFO and company secretary where appointed. The members then adopt the financial statements at the annual general meeting.
When it is used
- Annual board meeting to approve the financial statements and board's report.
- Before calling the AGM.
- Before filing Form AOC-4 with the ROC.
What the template covers
- Company name, CIN and meeting details
- Financial year and balance sheet date
- Auditor firm name and FRN
- Total revenue and profit or loss
- Signatories authorised
- AGM date and notice
Details you will need
The generator asks for the following. Fields marked with an asterisk in the form are required; the rest can be left blank and filled in later in Word.
Company
Company Name; CIN; Registered Office
Meeting
Board Meeting Date; Place
Accounts
Financial Year; Balance Sheet As On; Auditor Firm Name; Auditor FRN; Total Revenue (₹); Profit / (Loss) after tax (₹)
AGM
Proposed AGM Date
Authentication
Chairman Name; Chairman DIN
Stamp duty, registration and filing
The AGM must be held within six months of the end of the financial year (by 30 September for a March year end), and Form AOC-4 is filed within 30 days of the AGM, and Form MGT-7 or MGT-7A within 60 days. The board's report under Section 134(3) is approved at the same meeting. Late filing attracts additional fees.
Generate the BR — Adoption of Annual Accounts
Fill in the form and download the draft as a Word file. It is a general template, not legal or professional advice; have it reviewed for your facts before you sign or rely on it.
Need this checked against your facts, or the registration or filing that follows (e.g. the related MCA e-form)? Contact SKAG and Associates
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Frequently asked questions
Who adopts the accounts, the board or the members?
The board approves them; the members adopt them at the AGM.
Who signs the financial statements?
The chairperson, or two directors (one of them the MD where there is one), and the CEO, CFO and company secretary where appointed.
What is the deadline for AOC-4?
Within 30 days of the AGM.
This page gives general information for reference only. Laws, stamp duty rates and filing requirements change and differ between States, so confirm the current position for your case. Related: all document templates · free tax calculators · compliance calendar and guides.