Co-Operative Societies Act 1993 · Updated to 1 Apr 2015 · Part VII · Accounts and Audit
Section 62
Feedback & supportNo person shall be approved to audit the accounts of a co-operative society or, where he is already approved as an auditor, shall audit the accounts of a co-operative society or do anything required to be done by an auditor under this Act if—
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;
he is in any way indebted to the co-operative society or to any of its subsidiaries;
58 Laws of Malaysia ACT 502
he is a member of the co-operative society or a spouse to the officer of the co-operative society;
he is an officer of the co-operative society or a partner of such officer in any enterprise;
he is an employee of the co-operative society or a partner of such employee in any enterprise;
he is an employee of an officer of the co-operative society or an employee of such employee; or
he has been compounded or convicted of any offence under this Act, or the Companies Act 1965 or of any offence involving fraud or dishonesty under any other written law.