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How to approve Annual Financial Statements (AFS)

Every year a company must draft a set of Annual Financial Statements (AFS) as per the Company’s Act. The statements reflect the financial position and performance of the company and must be approved via ordinary resolution by the directors.

Every year a company must draft a set of Annual Financial Statements (AFS) as per the Company’s Act. The statements reflect the financial position and performance of the company and must be approved via ordinary resolution by the directors. The resolution will confirm that the statement is accurate and true, as well as appoint a director to sign off the statement on behalf of the board.

Follow these simple instructions:

Step 1: Log in to your InfoDocs account here. If you don’t already have an account, register for a free trial.

This resolution can be automatically populated from your company dashboard on InfoDocs. See the video and the step-by-step instructions below.

Step 1: Navigate to select the company you would like to approve financials for and select the “Company” tab.

Company Tab

Step 2: On the left, you select, “Diary Dates” and then on the right hand select the, “Approve Financials” button. This will open up a window prompting you for information pertaining to the financial statement that you are approving.

Details of the AFS

You will need to fill in the following detail;

  • the professional’s details that drafted the financial statements,
  • the financial period that is being approved,
  • date the statement was published (should be within 6 months of the company’s year end),
  • The type of financial statement: Compilation, Independent Review or Audited,
  • Select the director that is authorized to sign on behalf of the board

Step 4: Once you have completed the form, ensure the tick box is selected to populate your resolution and click, “Save”.


PDF Download link

A final window will pop up that includes the resolution for you to download and distribute to the board for approval. This resolution should be stored together with your signed AFS in your company records.