What is a report as to affairs?

A report as to affairs is a document that directors must prepare for a voluntary administrator within five days (or such longer period as the administrator allows) of their company entering voluntary administration.

The report as to affairs should provide an estimate of the company’s assets (such as debts owed to the company, cash, stock, work in progress, plant and equipment) and liabilities (such as debts owed by the company, employee entitlements, bills and taxes).