Article 82 - LLC accounts

(1) The directors of every LLC shall cause accounts to be prepared in relation to each financial year of the LLC which shall be in the English language and shall comprise or include:
(A) financial statements set out in accordance with IFRS, UK GAAP, US GAAP or such other accounting principles and standards as may be prescribed in rules made by the QFC Authority; and
(B) such further information as may be required by these Regulations, any rules made by the QFC Authority and the LLC's articles of association.
(2) The accounts shall be prepared in accordance with accounting principles and standards prescribed in rules made by the QFC Authority and comply with any other requirements of these Regulations or any rules made by the QFC Authority. The accounts shall show a true and fair view of the profit or loss of the LLC for the financial year in question and of the state of the LLC's affairs at the end of such financial year.
(3) The LLC's accounts shall be approved by the directors and signed on their behalf by at least one of their number.
(4) Within 4 months of the end of the financial year the accounts for that year shall be:
(A) prepared and approved by the directors;
(B) examined and reported on by the LLC's auditors in accordance with these Regulations and any rules made by the QFC Authority, such auditors' report to be written in the English language; and
(C) laid before a meeting of the Members together with a copy of the auditors' report.
(5) The LLC shall file with the CRO within 21 days after the meeting of the Members before which the accounts and auditor's report were laid, a copy of the accounts and auditor's report.
(6) In this Section 11, reference to "accounts" are to those accounts prepared in accordance with this Article.
(7) This Article does not apply to an LLC that is a Collective Investment Fund.
Amended (as from 5th April 2015).