What right do members of a company have regarding annual accounts?

Members of a company have the right to receive a copy of the annual accounts as part of their governance and oversight over the business's financial health. This right is fundamental to ensuring transparency and accountability, as it allows members to review the company’s financial performance and make informed decisions.

In many jurisdictions, companies are legally obligated to prepare annual accounts and provide them to their members. This facilitates shareholders' understanding of the company’s operations and enables them to engage in meaningful discussions about performance at shareholder meetings. This right is enshrined in corporate law, reinforcing the importance of providing vital financial information to members.

The other options do not accurately reflect the legal entitlements of company members in relation to annual accounts. While members may indeed challenge the accounts or receive summaries, these are not guaranteed rights like the right to receive the complete annual accounts. Additionally, the approval of annual accounts typically falls to the board of directors rather than the members themselves, thereby differentiating the powers and responsibilities within a company’s governance structure.