Part 7 E+W+SAccounts, audit and annual returns

Auditing of accounts etc E+W+S

85 Duty to obtain report in certain cases where section 83 is disapplied E+W+S

(1) This section applies to a registered society for a year of account (“the year”) if—

(a) section 83 (duty to appoint auditors) does not apply to the society for the year because of a resolution under section 84 (power to disapply auditing requirements), and

(b) the society's turnover in the preceding year of account exceeded £90,000.

(2) The society must, within the period of 28 days beginning immediately after the end of the year, appoint a qualified auditor to make —

(a) a report on its account and balance sheet for the year which states, in the auditor's opinion —

(i) whether its revenue account, any other account to which the report relates, and balance sheet are in agreement with its books of account kept under section 75, and

(ii) (on the basis of the information contained in those books of account) whether the revenue account and balance sheet comply with the requirements of this Act, and

(b) a report relating to the preceding year of account which states whether, in the auditor's opinion, the financial criteria for the exercise of the power conferred by section 84 were met in relation to the year.

Modifications etc. (not altering text)

C1 S. 85 modified (1.8.2014) by 1996 c. 52, Sch. 1 para. 17(2) (as substituted by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 65(12)(b) (with Sch. 5))

C2 S. 85 applied (with modifications) by 2008 c. 17, s. 134(2) (as substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 125(2) (with Sch. 5))