(1) A company's auditor must make a report to the company's members on all annual accounts of the company of which copies are, during his tenure of office—
(a) in the case of a private company, to be sent out to members under section 423;
(b) in the case of a public company, to be laid before the company in general meeting under section 437.
[(2) The auditor's report must include—
(a) the identity of the company whose annual accounts are the subject of the audit,
(b) a description of the annual accounts that are the subject of the audit (including the period covered by those accounts),
(c) a description of the financial reporting framework that has been applied in the preparation of those accounts, and
(d) a description of the scope of the audit identifying the auditing standards in accordance with which the audit was conducted.]
(3) The report must state clearly whether, in the auditor's opinion, the annual accounts—
(a) give a true and fair view—
(i) in the case of an individual balance sheet, of the state of affairs of the company as at the end of the financial year,
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