Clause 20

Every society shall once at least in every year have its books and accounts audited by a public accountant or a person authorised by the Registrar in writing.(2) No person shall be eligible to be or remain an auditor of a society if —

he has outstanding liabilities with the society or any of its related entities;

he is an officer of the society;

he is a partner, an employer or an employee of an officer of the society; or

he is a partner or an employee of an employee of an officer of the society.(3) An auditor of a society shall have power —

to have at all reasonable times free access to all accounting and other records relating directly or indirectly to the financial transactions of the society;

to require the production of any book or document relating to the affairs of, or any property belonging to, the society by its officer, agent, employee or member in possession of the book, document or property;

to require any officer, agent, employee or member of the society to furnish any information in regard to any transaction of the society or the management of its affairs; and

to make copies of or extracts from accounting and other records, or retain possession of such records for such period as may be necessary to enable them to be inspected.(4) In this section, “related entity”, in relation to a society, means —

the parent society of the society, or a subsidiary of such a parent society; or

a subsidiary of the society.”.