The term "statutory accounts" is correct and usable in written English.
It typically refers to financial accounts that companies must produce in order to comply with certain laws or regulations. For example, "The company was required to produce statutory accounts for the year."
As public sector accountants are busy finalising statutory accounts for the financial year just ended, this is a good time to ask whether all the effort, complexity and expense of producing these difficult to understand, costly to produce accounts, which are not relevant to ordinary people, is really worthwhile.
KPMG, appointed in October 2013, said: "We issued an audit opinion on the 2013 statutory accounts, which included a number of restatements.
Bookkeeping is the practise of simply keeping a record of all your receipts and invoices for the purpose of statutory accounts, VAT claiming and corporation tax.
Charlotte has worked at The Soldiers Charityy for two years as the financial controller, responsible for preparation of the management and statutory accounts, budgeting, financial controls, compliance, tax and VAT planning and technical support across the charity.
Alongside the funds held by land-owning groups, there are funds held on behalf of Indigenous people in various statutory accounts, such as the Aboriginals Benefit Account in the Northern Territory and the Land Account of the Indigenous Land Corporation established as part of the native title settlement agreed between Aboriginal leaders and the Australian government in 1993.
We have today issued a qualified audit opinion on the 2014 statutory accounts, which include various further restatements, both to apply more conservative accounting policies in some areas and to correct prior year errors, largely in relation to certain historical acquisitions, revenue and share transactions and disclosures in respect of 2011 to 2013".
At seminars and discussions with public sector managers and accountants, I often ask them whether they have ever looked at the statutory financial accounts of their local authority or local NHS trust in a personal role – as a resident, service user or citizen – as opposed to in their professional role as a manager or an accountant.
Isn't it time we started producing statutory financial accounts for public bodies that are relevant to, and understandable by, citizens rather than the accountants?
We urge the states to enforce laws against statutory rape, which accounts for an enormous portion of teen pregnancy.
Bloomberg noted that both Gyrus annual reports were filed late: instead of filing within the nine-month statutory limit, the accounts were filed more than a year from the company's year end.
Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC.
