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Ordering Information: Provision For Proposed Dividend

This guidance note deals with the responsibilities of auditors regarding the provision for and disclosure of proposed dividends in company financial statements. It outlines the Institute's views that a proposed dividend may not be considered a liability before shareholder approval of the financial statements, but if not provided for, true and fair view of the statements may be impacted and additional disclosure is required. The note also discusses the auditor's duties in these situations.

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16 views1 page

Ordering Information: Provision For Proposed Dividend

This guidance note deals with the responsibilities of auditors regarding the provision for and disclosure of proposed dividends in company financial statements. It outlines the Institute's views that a proposed dividend may not be considered a liability before shareholder approval of the financial statements, but if not provided for, true and fair view of the statements may be impacted and additional disclosure is required. The note also discusses the auditor's duties in these situations.

Uploaded by

yaswanthbhu
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© © All Rights Reserved
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Provision for Proposed Dividend

This G uidance N ote deals w ith the issue of responsibility of the


auditors in respect of the provision for and disclosure of proposed
dividends in the financial statem ents of com panies. The G uidance N ote
also outlines the view s of the C ouncil of the Institute, inter alia, on the
follow ing m atters:
w hether the proposed dividend is a liability before the general
m eeting to approve the financial statem ents;
non provision of proposed dividend in the financial statem ents
visavis true and fair view and the necessary disclosure in that
case;
auditors duties in respect of above non provision.
P u b lish ed in N o v e m b e r 1 9 7 5

P u b lish ed in th e H a n d b o o k o f A u d itin g P ro n o u n c e m en ts, V o l. II, (E d n . 2 0 1 0 ).

Ordering Information
The publication can be obtained from the sales counter at the Regional
offices or at the H ead office of the Institute. C opies can also be obtained
by post. To order by post, send a dem and draft for the am ount of price
of the publication (add the charges for the desired m ode of delivery) in
favour of The Secretary, The Institute of C hartered A ccountants of
India, N ew D elhi, payable at N ew D elhi, to the Postal Sales
D epartm ent, The Institute of C hartered A ccountants of India, IC A I
Bhaw an , A-29, Sector62, Noida201309 (U .P.)

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