Co-Operative Societies Act 1993 · Updated to 1 Apr 2015 · Part VII · Accounts and Audit
61. Approval of auditor of co-operative societies
Feedback & supportFor the purposes of subsection 60(1), the Commission may by general or special order in writing, and upon the payment of such fees as may be prescribed and subject to such terms and conditions as it deems fit, approve any competent person to audit the accounts of a co-operative society or co-operative societies, as the case may be, under this Act if—
Commission
“Commission” means the Malaysia Co-operative Societies Commission established under the Malaysia Co-operative Societies Commission Act 2007;
such person applies in writing to the Commission to be so approved; and
the Commission is satisfied that such person is fit and competent to be so approved.
No person shall be approved to audit nor shall he audit the accounts of the same co-operative society for any continuous period exceeding six years, but such person may be approved to audit and may resume auditing the accounts of a co-operative society two years after he has ceased to audit the accounts of that co-operative society.
co-operative society
“co-operative society” means an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically controlled enterprise which is registered under this Act;
The approval for the appointment of the auditor under subsection (1) may be revoked if in the opinion of the Commission, the audit conducted by such auditor is not satisfactory.
Circumstances disqualifying a person from being approved or acting as auditor of a co-operative society