Accountability report

from Wikipedia, the free encyclopedia

Annual report is a regular report for a specified past period (usually a calendar or fiscal year ) that a business entity on its activities and in particular on certain financial and other transactions and the current earnings situation according to legal regulations accountable must discard.

General

On the reportable business entities include companies over their shareholders , political parties in relation to the public , clubs ( Treasurer ) against the members , rectors of university to their senates or other organization towards its creditors . The accountability report serves to provide an account of past activities in accordance with the law or the articles of association .

The form and content of the annual reports are regulated in the relevant regulations. There are also annual reports that are submitted without any legal obligation, e.g. B. from private individuals about their past life.

Examples

Investment companies

According to the German Capital Investment Code (KAGB), every investment company is legally obliged to publish an annual report on each of the open-ended funds it has launched once a year - at the latest four months after the end of the fund's financial year - for the information of its investors ( Section 101 KAGB). This report includes: a. a list of the investment fund , the statement of expenses and income , if applicable the amount of a distribution , as well as information on the course of business and the fund, each as of a specific reference date. The current annual report must be made available to fund buyers for inspection in a suitable manner together with the sales prospectus and (if the annual report is older than eight months).

Political Parties (Germany)

Article 21, Paragraph 1 of the Basic Law states: "The parties ... must give a public account of the origin and use of their funds as well as their assets."

This results in the annual reports submitted by German political parties, which provide information on their income and expenditure as well as their assets ( Section 24 Political Parties Act ). These reports are checked and published by the President of the Bundestag .

consequences

Accountability reports are checked by the relevant supervisory bodies ( supervisory board , technical supervisory authority , legal supervisory authority ) and compared with the legal / statutory norms. If the reports meet these standards, discharge can be granted, otherwise there is a breach of duty .

See also

literature