s.21Societies shall make annual audits and statements of the funds to the members
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Section 21Part 11 — Annual Audit and Statement of Accounts

Societies shall make annual audits and statements of the funds to the members

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The secretary or manager of a society shall, at least once in every year, prepare —
an account of all the receipts and expenditure of the society since the preceding statement; and
a general statement of —
its funds and effects, liabilities and assets, showing the amounts due to the holders of the various classes of shares respectively to depositors and creditors for loans;
the balances due or outstanding on their mortgage securities, not including prospective interest; and
the amount invested otherwise than in loans to members under sections 16 and 17.
Every such account and statement shall be —
attested by the auditors to whom the mortgage deeds and other securities belonging to the society shall be produced; and
countersigned by the secretary or manager.
Every member, depositor and creditor for loans is entitled to receive from the society a copy of the account and statement, and a copy thereof shall be sent to the Authority within fourteen days after the annual or other general meeting at which it is presented.
The Authority shall see that the statement conforms to the requirements of this section.
A copy of the account and statement shall be displayed by the society in a conspicuous place in every office of the society.
A copy of the account and statement forwarded to the Authority shall be gazetted by the society that prepared such account and statement.

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