background image
14.1. Books and Records

Although there is no statutory requirement to file accounts, there should be sufficient accounting records to enable the directors and shareholders to ascertain the financial position of the company. The accounting records should be kept at the registered office address. If they are kept outside Bermuda, copies of all accounting records should be available for inspection by the directors each quarter. All Bermudan companies should appoint an auditor, except where the directors and shareholders have unanimously agreed not to appoint one.