Section 691 of The Companies Act No. 17 of 2015: Directors of company to approve and sign abbreviated financial statement
(1) An abbreviated financial statement of a company is not valid until it has been approved by the company’s board of directors and signed on behalf of the board by a director of the company.
(2) The director designated to sign the abbreviated financial statement shall sign the company's balance sheet.
(3) That director shall ensure that there is included in a prominent position above the director's signature a statement to the effect that the company's balance sheet is prepared in accordance with the special provisions of this Act relating to companies that are subject to the small companies regime.
(4) If the directors of a company approve an abbreviated financial statement that does not comply with the requirements of regulations (if any) made for the purpose of this Part, each of the director of the company who—
(a) knew that it did not comply, or was reckless as to whether it complied; and
(b) failed to take reasonable steps to prevent it from being approved commits an offence and on conviction is liable to a fine not exceeding five hundred thousand shillings.
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