For Danish limited liability companies such as IVS, A/S, and ApS, it is mandatory for the directors or shareholders to give their consent and approve the company’s annual report during the annual general meeting, which must be held once a year.
There are several important things to keep in mind when preparing the report for the annual general meeting.
- The annual general meeting is called 'ordinær generalforsamling’ in Danish.
- If the company has a board of directors, they are also required to attend the annual general meeting.
- The annual report must be submitted to the business office on VIRK no later than 5 months after the end of the fiscal year.
- The annual report must be approved by the shareholders and the board of directors before it can be filed with the business office.
- If the company has a board of directors, the report should include information such as the election of the chairman for the annual general meeting, the chairman’s report on the year’s progress, discussion of the discharge of the board of directors, proposal by the board of directors to distribute the royalties and the result of the members of the company, questions from shareholders or the board of directors, and presentation of the annual report for approval.
- If the company does not have a board of directors but at least one director, the report should include information such as the director’s report on the year’s progress, the election of the chairman of the meeting, proposal for the distribution of the result, questions from the director or shareholders, and presentation of the annual report for approval.
Every Danish limited liability company has a specific set of articles of association that was established when the company was founded, called „vedtægter”. These articles outline the topics that are to be discussed at the annual general meeting. Following the meeting, a summary report called „generalforsamling minutoll lat” should be created.
It is crucial to ensure that the report from the annual general meeting includes the same subjects as those specified in the company’s articles of association.