Page 72 - ACCESS ANNUAL REPORT 2019

DIRECTORS’ REPORT
The directors present their report together with the audited financial statements for the year ended 31 December 2019 in accordance with the Companies Act, 2019 (Act 992) and the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) which discloses the state of the affairs of the Bank and the Group.
Statement of Directors’
Responsibility
The directors are responsible for the preparation of financial statements for each financial year, which gives a true and fair view of the state of affairs of the Group and the profit or loss and cash ows for that period. In preparing these financial statements, the directors have selected suitable accounting policies and applied them consistently, made judgements and estimates that are reasonable and prudent and followed International Financial Reporting Standards and complied with the requirements of the Companies Act, 2019 (Act 992) and the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).
The directors are responsible for ensuring that the Group keeps proper accounting records that disclose with reasonable accuracy at any time the financial position of the Group. The directors are also responsible for safeguarding the assets of the Group and taking reasonable steps for the prevention and detection of fraud and other irregularities.
We have no plans or intentions, for example to dispose of the business or cease operations that may materially alter the carrying of value or classification of assets and liabilities re ected in the financial statements.
Corporate Social Responsibility
The Bank’s corporate social responsibility contributions were effected through donations and sponsorships to various health, education and community impact initiatives. Details of these are disclosed under note 13 of the annual report. The total amount spent on corporate social responsibility for the year as disclosed in the financial statements is G 1,233, 1 .
Auditors’ Remuneration
In accordance with Section 140 of the Companies Act, 2019 (Act 992), Messrs.’ Ernst & Young have agreed to continue in office as the Bank’s auditors. A resolution to authorize the Directors to determine their remuneration for the year ended 31 December 2019 will be proposed at the Annual General Meeting. Refer to note 13 of this annual report for the amount payable by way of audit fees.
Building the Capacity of Directors
During the year under review, Directors undertook the Corporate Governance Certification (Module 1-4) ran by the National Banking College. Directors also undertook training on “Leading Change and Organizational Renewal and Strategy Beyond Markets”, run by the Stanford Business School. Directors were also trained on “Anti-Money Laundering and Combating Financing of Terrorism” by the Bank of Ghana.
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driving sustainable
Annual Report
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