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Auditor's report, right of access to books and to attend meetings, etc.
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69.—(1) The auditor of a society shall make a report to the members on the accounts examined by him and on every balance sheet and every income and expenditure account laid before the society at an annual general meeting during his tenure of office.
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(2) The auditor's report shall be read at the annual general meeting of the society and shall be open to inspection by any member of the society.
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(3) The auditor's report shall state whether—
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(a) he has obtained all the information and explanations which to the best of his knowledge and belief were necessary for the purposes of his audit,
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(b) in his opinion, proper books of account have been kept by the society so far as appears from his examination of those books, and proper returns adequate for the purposes of his audit have been received from branches not visited by him,
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(c) the balance sheet and income and expenditure account are in agreement with the books of account and records of the society, and
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(d) in his opinion and to the best of his information and according to the explanations given to him, the society's balance sheet and income and expenditure account give the information required by this Act in the manner so required and give a true and fair view—
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(i) in the case of the balance sheet, of the state of the society's affairs as at the end of its financial year, and
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(ii) in the case of the income and expenditure account, of the income and expenditure of the society for its financial year.
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(4) It shall be the duty of the auditor in preparing his report under this section to carry out such investigations as will enable him to form an opinion as to whether—
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(a) the society has kept proper books of account and records, and
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(b) the society has maintained a satisfactory system of control over its transactions and records and, in particular, whether subsections (2) and (4) of section 59 have been complied with;
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and, where the auditor is of opinion that the society has failed to keep proper books of account and records or to maintain a satisfactory system of control over its transactions and records, he shall so state in his report.
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(5) Every auditor of a society shall have a right of access at all reasonable times to the books, accounts, records and vouchers of the society and to all other documents relating to its affairs (including deeds relating to property mortgaged to the society), and shall be entitled to require from the officers of the society such information and explanations as he thinks necessary for the performance of the duties of the auditor.
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(6) The auditor of a society shall be entitled to attend any general meeting of the society, to receive at least 21 days' notice of the holding of any such meeting (together with any communications relating to such a meeting which any member of the society may receive) and to be heard at any meeting which he attends on any part of the business of the meeting which concerns him as an auditor.
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