Article 17. The Revision Commission of the Production Cooperative of the Law on the Production Cooperative

Home / RLA / Article 17. The Revision Commission of the Production Cooperative of the Law on the Production Cooperative

1. An audit commission may be established in the cooperative, which monitors the financial activities of the executive body of the cooperative. Only members of the cooperative may be members of the audit commission. The members of the audit commission may not be members of the supervisory board and the executive body of the cooperative.

2. The members of the audit commission are elected at the general meeting of the cooperative members. The number, duration and competence of the audit commission are determined by the charter of the cooperative. The founding documents of a cooperative may provide for the election of an auditor of the cooperative instead of the audit commission.

3. The audit Commission (auditor) of the cooperative submits to the general meeting of the cooperative members an opinion on the reliability of the annual reports and balance sheets of the cooperative.

4. The audit commission (auditor) may carry out inspections on behalf of the general meeting of the cooperative, the supervisory board, on its own initiative or at the request of at least ten percent of the cooperative's members.

5. The audit Commission (auditor) has the right to get acquainted with the financial documentation of the cooperative.

6. Excluded by the Law of the Republic of Kazakhstan No. 241 dated 12.07.2001) 7. Excluded by the Law of the Republic of Kazakhstan No. 241 dated 12.07.2001.)

The Law of the Republic of Kazakhstan dated October 5, 1995 N 2486.

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