Malaysian Co-operative societies needs to comply to the Societies Act which includes the following:
- The co-operative societies are required to prepare within two months of the completion of the financial year and present their annual accounts to their members
- The financial statements specified are:
- Trading and profit and loss accounts,
- Statement of source and application of funds,
- Balance sheet,
- Report signed by or on behalf of its board with respect to the state of affairs of the society,
- Auditor’s report, and
- Observations of the Registrar-General on the accounts and balance sheet of the society.
3. A copy of the duly audited financial statements has to be submitted to the Registrar-General at least thirty days before the annual general meeting. |