(1) In each period for the settlement of accounts, directors shall prepare the following documents and the supplementary schedules and obtain approval therefor from the board of directors:
1. Balance sheets;
2. Income statements;
3. Other documents prescribed by Presidential Decree, indicating the financial status and management performance of the company.
(2) Directors of the company determined by Presidential Decree shall prepare the consolidated financial statements and obtain approval therefor from the board of directors.[This Article Wholly Amended by Act No. 10600, Apr. 14, 2011]