Current legislation requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Society and of the group at the end of the year, and of the profit or loss of the group for that period. In preparing those financial statements, the directors should:
The directors of the Society are responsible for keeping proper books of account with respect to the Society's and the group's transactions and assets and liabilities as necessary to give a true and fair view of the state of affairs of the Society and of the group and to enable them to ensure that the financial statements comply with the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993. They have general responsibility for taking such steps which are reasonably open to them to safeguard the assets of the Society and to prevent and detect fraud and any other irregularities.
