HERMES

STUDENT NAME  STUDENT ID
Table of Contents
Director’s Report:........................................................................................................................................1
Auditor’s Report:.........................................................................................................................................1
Director’s Report:
a)
In order for shareholders to make informed decisions when casting their votes at annual or other
meetings, the Directors' Report provides part of that essential minimum standard of information.
It is complemented by the Director's Remuneration Report and the Company Accounts.
It is written as:
1. Date.
2. Name of committee.
3. Name of committee chair.
4. Names of committee members.
5. The objective of the committee.
6. Summary of recent accomplishments and current activities.
7. List of activities in progress and upcoming events.
8. Financial impact.
At the end of each accounting year, private limited companies are required to provide a set of
financial reports known as statutory accounts. Amongst these accounts is the directors’ report,
which is produced by the board of directors and outlines the financial state of the company.
[ CITATION Her17 \l 1033 ]

b)
The director signed the report on behalf of the company. Each financial report submitted to the
company must be accompanied by a report of the board of directors, including the director's
scorecard. Board reports and all additional matters must be duly signed. Signed copies of all
financial statements must be distributed, issued or posted along with all notes or documents,
audit reports and board reports. This provision is imposed on corporate fines and all company
officers in case of illegal activity. The committee discussed in detail the current provisions of the
law regarding the authorization and authentication of accounts, distribution of accounts, and
deposits of accounts with governing bodies. The committee thought it was necessary to know the
concept of CFO appointment under the law responsible for filing and filing financial reports to
the board of directors. The account must be signed by the executive director, CEO, CFO and
company secretary of the approved finance director, even if the employee attends an approved
board meeting. All directors attending the account approval meeting must have permission to
sign the account. If the director disagrees, he or she must also sign the financial statements with a
disapproval letter. You must maintain the rules of the company law on the distribution of
financial statements. However, the commission recommended that financial statements be sent
electronically instead of photocopying. Even for listed companies, if simple financial statements
are distributed to members, you should be able to view the full financial statements on the
website and also provide a copy upon request.
Auditor’s Report:
a)
The purpose of the audit report is to record a reasonable assurance that the company's financial
statements are accurate. In addition to the balance sheet, income statement and director's report,
the auditor's report is part of the company's official account. An audit report is a formal or
independent opinion issuance certification service issued by an internal or independent auditor as
a result of an internal or external audit.
The types of audit reports are:
 Unqualified opinion-clean report.
 Qualified opinion-qualified report.
 Disclaimer of opinion-disclaimer report.
 Adverse opinion-adverse audit report.
Unqualified Opinion

This is often referred to as a pure and unqualified opinion and is an audit report issued when an
auditor determines that all financial records provided by a small business are not
misrepresented. In addition, ineligible comments indicate that financial records are maintained
in accordance with the so-called General Accepted Accounting Principles (GAAP). This is the
best report a business can get.

Often ineligible reports include the word "independent". This was done to show that it was
made by a fair third party. The text after the title. The main three-level organization highlights
the auditor's responsibilities, the audit objectives and the auditor's results. The auditor signs
and fills out the date of the document, including his address. [ CITATION Her17 \l 1033 ]

Qualified Opinion

If a company's financial records are not in compliance with GAAP and do not provide public
information, the auditor will provide an appropriate opinion. Writing good ideas is very similar
to writing bad ideas. However, the appropriate comment will include an additional clause
explaining why the audit report is inappropriate.

Adverse Opinion

The worst financial report a business can provide is a bad idea. This indicates that the
company's financial records are not in compliance with GAAP. Also, the financial records
provided by businesses are poorly known. It can be accidental and is often a sign of fraud.
When this type of report is issued, investors, creditors and other shareholders disagree and the
company must prepare and review its financial statements.
Disclaimer of Opinion

In some cases, the auditor may not be able to produce an audit report. This can happen for a
variety of reasons, such as a lack of adequate financial records. When this happened, the
auditor rejected the view that the financial position of the company could not be determined.

b)
The audit committee currently consists of two non-executive directors, David Watson
(Chairman) and Billy McClory. Directors who have served on the committee during the year
were Catherine Mathews (resigned January 31, 2017), David Stewart (resigned March 31, 2016),
Catherine Claydon (appointed May 5, 2016, December 31, 2016) Resignation). Committee
members are appointed by the board.
c)
The auditor’s has concluded that:
The work of groups of companies and institutional investors on climate change will help
pensioners and asset managers take a more proactive approach to carbon risk management. The
company processed 0.5285 billion on behalf of institutional investors and retailers. The
company's investment skills include public and private equity funds and debt, infrastructure,
wealth and many asset solutions. [ CITATION Her17 \l 1033 ]

References
Hermes. (2017). Retrieved from https://assets-hecate.hermes.com/s3fs-public/node/pdf_file/2020-
06/hermes_2017_rapportannuel_en.pdf