Singapore legislation
Clause 78
Clause 78
Power of Registrar to audit accounts of societies
(1)
The Registrar shall audit or cause to be audited the accounts of every society in accordance with sections 33 and 35.
(2)
The Registrar or the auditor approved by him under section 33 or a person authorised by such auditor shall have power —
to have at all reasonable times free access to all accounting and other records relating directly or indirectly to financial transactions of the society;
to require the production of any book or document relating to the affairs of, or any cash or securities belonging to, the society by its officer, agent, employee or member in possession of such book, document, cash or securities;
to require an officer, agent, employee or member of the society to furnish any material information in regard to any transactions of the society or the management of its affairs; and
to make copies of or extracts from accounting and other records.
(3)
The Registrar shall delegate the exercise of his power to audit societies, partly or totally, to a co-operative apex organisation, as soon as such apex organisation has established an audit section and employs competent staff to take over this function.
(4)
Where the exercise of the audit function has been delegated to a co-operative apex organisation, the Registrar shall supervise the audit carried out by the audit section of the co-operative apex organisation and shall have power to do all things necessary to ensure that the audit is effectively conducted and in accordance with the provisions of this Act.