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Board Resolution Approving Financial Statements

Board Resolution Approving Financial Statements Template for Ireland

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Key Requirements PROMPT example:

Board Resolution Approving Financial Statements

"I need a Board Resolution Approving Financial Statements for my Irish private limited company's annual accounts for the financial year ending March 31, 2025, including standard audit committee recommendations and authorization for CRO filing."

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Document background
A Board Resolution Approving Financial Statements is a crucial corporate governance document required for all companies registered in Ireland. This resolution is typically prepared annually following the completion of the company's financial statements and before their filing with the Companies Registration Office. The document serves as evidence that the board of directors has fulfilled its statutory obligations under the Companies Act 2014 by reviewing and approving the financial statements. The resolution should be maintained in the company's records and may be required by auditors, regulators, or potential investors as evidence of proper corporate governance. It forms part of the company's compliance documentation and demonstrates that the directors have exercised their duties of care, skill, and diligence in reviewing and approving the financial statements.
Suggested Sections

1. Meeting Details: Date, time, location of the board meeting, and confirmation that proper notice was given

2. Attendance and Quorum: List of directors present and confirmation that a quorum was present as per the company's constitution

3. Chair: Identification of the meeting's chairperson

4. Documents Presented: List of financial statements and related documents presented for review, including the period they cover

5. Directors' Review Confirmation: Confirmation that directors have reviewed and considered the financial statements and related documents

6. Directors' Declaration: Statement that the financial statements give a true and fair view of the company's affairs

7. Resolution: Formal resolution text approving the financial statements

8. Authorization: Authorization for specified officers to sign and file the financial statements

9. Closure: Formal closing of the meeting and signature section

Optional Sections

1. Audit Committee Report: Include when the company has an audit committee that has reviewed the financial statements and made recommendations

2. Group Considerations: Include for companies that are part of a group, addressing consolidated financial statements

3. Going Concern Assessment: Include when there are specific going concern considerations that need to be documented

4. Dividend Declaration: Include if the board is also declaring dividends based on the financial results

5. Related Party Transactions: Include when significant related party transactions need specific board acknowledgment

6. Auditor's Report Reference: Include when external auditors have provided their report on the financial statements

Suggested Schedules

1. Financial Statements: Complete set of financial statements including balance sheet, profit and loss account, and notes

2. Directors' Report: Annual report of the directors on the company's affairs

3. Auditor's Report: Independent auditor's report on the financial statements (if applicable)

4. Letter of Representation: Management representation letter to auditors (if applicable)

5. Audit Committee Recommendations: Written recommendations from the audit committee (if applicable)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Financial Services

Technology

Manufacturing

Retail

Healthcare

Professional Services

Construction

Energy

Transportation

Real Estate

Telecommunications

Agriculture

Mining

Education

Non-Profit

Relevant Teams

Finance

Legal

Corporate Secretariat

Compliance

Corporate Governance

Audit

Executive Leadership

Board Administration

Risk Management

Accounting

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Company Secretary

Finance Director

Board Director

Non-Executive Director

Financial Controller

Head of Finance

Corporate Governance Officer

Audit Committee Chair

Compliance Officer

Managing Director

Executive Director

Group Financial Controller

Company Director

Industries
Companies Act 2014: The primary legislation governing company law in Ireland, which sets out the fundamental requirements for company management, including directors' duties, financial reporting obligations, and board meeting procedures
European Union (Statutory Audits) Regulations 2016: Regulations governing statutory audit requirements and financial reporting standards for Irish companies
Companies (Accounting) Act 2017: Amends the Companies Act 2014 regarding financial reporting requirements and introduces additional obligations for different categories of companies
Irish GAAP (FRS 100-102): Financial Reporting Standards applicable in Ireland, setting out the requirements for preparation and presentation of financial statements
International Financial Reporting Standards (IFRS): International standards that may be applicable for certain Irish companies, particularly listed companies or subsidiaries of international groups
Central Bank Act 1942-2018: Relevant for financial institutions, containing additional requirements for financial reporting and board approvals
Companies (Statutory Audits) Act 2018: Legislation governing statutory audit requirements and the relationship between companies and their auditors
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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