273Contents of annual financial report

#### 273 Contents of annual financial report 273 Contents of annual financial report (cf Corporations Act s 295) > > (1) Basic contents The financial report for a financial year consists of— > > > > > (a) the financial statements for the year; and > > > > > (b) the notes to the financial statements; and > > > > > (c) the directors’ declaration about the statements and notes. > > > (2) Financial statements The financial statements for the year are— > > > > > (a) the financial statements in relation to the entity reported on that are required by the accounting standards; and > > > > > (b) if the accounting standards require financial statements in relation to a consolidated entity—the financial statements in relation to the consolidated entity that are required by the accounting standards. > > > (3) Notes to financial statements The notes to the financial statements are— > > > > > (a) disclosures required by the National Regulations; and > > > > > (b) notes required by the accounting standards; and > > > > > (c) any other information necessary to give a true and fair view (see section 275). > > > (4) Directors’ declaration The directors’ declaration is a declaration by the directors— > > > > > (a) whether, in the directors’ opinion, there are reasonable grounds to believe that the co-operative will be able to pay its debts as and when they become due and payable; and > > > > > (b) whether, in the directors’ opinion, the financial statements and notes are in accordance with this Law, including— > > > > > > > (i) section 274; and > > > > > > > (ii) section 275; and > > > > > (c) if the co-operative has quoted securities—that the directors have been given the declarations required by section 295A of the Corporations Act (as applying under section 277). > > > > Note— > > > > Section 295A of the Corporations Act (as applying under section 277) requires the chief executive officer and chief financial officer of a co-operative with quoted securities to make an additional declaration described in that section. > > > (5) Directors’ declaration—particular requirements The directors’ declaration must— > > > > > (a) be made in accordance with a resolution of the directors; and > > > > > (b) specify the date on which the declaration is made; and > > > > > (c) be signed by a director.