The National Board of Accountants and Auditors (NBAA) requires financial statements to be accompanied with a declaration issued by the Head of Finance/Accounting responsible for the preparation of financial statements of the entity concerned.
All financial statements will be required to include the Declaration by Head of Finance/Accounting indicating name of the professional accountant, signature, date signed, and the NBAA membership number of the signatory.
You can download the format for the Declaration by Head of Finance/Accounting by clicking here.
The declaration will state compliance with applicable accounting standards and statutory requirements relating to financial reporting and confirm that the financial statements give a true and fair view position of the concerned entity.
The Declaration by the Head of Finance/Accounting should appear immediately after the Statement of Directors’ Responsibility.
This pronouncement will become effective for financial statements with accounting period ending on or after 30th June 2016
For reporting entities that do not have a registered accountant, they are allowed to outsource a registered individual to sign this declaration provided that he/she has reviewed entity’s financial statements and confirm that they have been prepared in compliance with the applicable accounting standards and statutory requirements relating to financial reporting and confirm that the financial statements give a true and fair view
For assistance with outsourcing a registered individual, connect with us.