Section 495(3)

The report must state clearly whether, in the auditor's opinion, the annual accounts— give a true and fair view— in the case of an individual balance sheet, of the state of affairs of the company as at the end of the financial year, in the case of an individual profit and loss account, of the profit or loss of the company for the financial year, in the case of group accounts, of the state of affairs as at the end of the financial year and of the profit or loss for the financial year of the undertakings included in the consolidation as a whole, so far as concerns members of the company; have been properly prepared in accordance with the relevant financial reporting framework; and have been prepared in accordance with the requirements of this Act .... Expressions used in this subsectionor subsection (3A) that are defined for the purposes of Part 15 (see sections 464, 471 and 474) have the same meaning as in that Part.

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Source: legislation.gov.uk · retrieved 2026-09-04