Part 5A - Director's or Trustee's Certificate (F100)

Summary

This is Part 5A (Form F100), the Director's or Trustee's Certificate that must accompany audited financial statements submitted to the BVI Financial Services Commission. A duly authorised director or trustee of the licensee or public fund completes and signs it to certify key facts about how the accompanying financial statements were prepared and audited.

• Legal basis: Required under section 17C(1)(a) of the Banks and Trust Companies Act 1990, section 17C(1)(a) of the Company Management Act 1990, section 57(1)(a) of the Insurance Act 2008, section 23(1)(a) of the Financing and Money Services Act 2009, section 71(1)(a) of the Securities and Investment Business Act 2010, and section 59 of the Regulatory Code 2009.
• Certification content: The signing director or trustee certifies that the financial statements were prepared using a specified accounting standard, have been audited with the auditor's report attached, were signed, dated and approved by the board of directors, and (for Banks and Trust Companies and Company Management licensees) that the auditor's certificate of compliance is attached.
• Additional attachments: The certificate also confirms attachment of any report made to members concerning the licensee's or public fund's activities for the year, and any other documents prescribed by the Commission or under the relevant legislation.
• Qualified opinions: If the auditor has qualified their opinion and the reasons are known, the director must provide adequate disclosure of those reasons when submitting the certificate.

The form itself does not set out submission timing; filing deadlines for the underlying audited financial statements are governed by the specific regulatory legislation cited on the form rather than by this certificate.

Key obligations

• The director or trustee must certify that the financial statements were prepared in accordance with a specified accounting standard
• The director or trustee must certify that the financial statements have been audited and attach the auditor's report
• The director or trustee must certify that the financial statements were signed, dated and approved by the board of directors
• Banks and Trust Companies and Company Management licensees must attach the auditor's certificate of compliance
• The director or trustee must attach any report made to members concerning the licensee's or public fund's activities for the financial year
• The director or trustee must forward any additional documents prescribed by the Commission or under the relevant regulatory legislation
• Where the auditor has qualified their opinion and reasons are known, the director must disclose those reasons when submitting the certificate

Applies to

Banks and Trust Companies licensees, Company Management licensees, Insurance licensees, Financing and Money Services licensees, Securities and Investment Business licensees, Public funds