Financial Intermediaries Act 1996

An auditor of a society has a right of access at all reasonable times to the accounting records and other records and registers of the society.

The auditor is entitled to require from an officer of the society any information and explanation that the auditor requires for the audit.

An auditor of a society, or an agent authorised by the auditor in writing for the purpose, is entitled to—

attend a general meeting of the society; and

receive all notices of, and other communications about, a general meeting that a member is entitled to receive; and

be heard at a general meeting that he or she attends on any part of the business of the meeting concerning the auditor in the capacity of auditor; and

be heard at a meeting mentioned in paragraph (c) even though—

the auditor retires at the meeting; or

a resolution to remove the auditor from office is passed at the meeting.

If an auditor becomes aware that the society or the directors has or have not complied with section 122, or the provisions of section 145 about the laying of accounts before the society’s annual general meeting, the auditor must immediately inform the registrar by written notice and, if accounts have been prepared and audited, send the registrar a copy of the accounts and of the auditor’s report on the accounts.

Except if subsection (4) applies, if an auditor, while performing duties as auditor of a society, is satisfied that—

there has been a contravention of this Act; and

the circumstances are such that, in the auditor’s opinion, the matter has not been, or will not be, adequately dealt with by comment in the auditor’s report on the accounts or by bringing the matter to the notice of the society’s directors;

If an auditor of a society—

is not satisfied that the accounts comply with a particular applicable accounting standard; or

considers that the accounts do not comply with a particular applicable accounting standard;

If an auditor sends the registrar a report on the accounts under subsection (6), the registrar may, by written notice to the society, require it to give the registrar a copy of the accounts within 7 days after service of the notice.

In addition to any other report that an auditor, or former auditor, of a society is required to give to the registrar, an auditor, or former auditor, of a society must give the registrar any report about the society’s affairs that the registrar requires and the auditor, or former auditor, is able to give.

An auditor, or former auditor, of a society must not contravene this section.