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Building Societies Act 1965

Management and administration - Accounting records and financial reporting

101: Auditors' report and right to attend meetings

You could also call this:

"Auditors write reports and can attend big meetings"

The auditors of a society must write a report for the members about the financial statements shown at the yearly big meeting. When the auditors do this work, they need to follow all the rules about auditing. Their report also needs to follow these rules.

The auditors have some special rights. They can go to any big meeting of the society. They should get notices about these meetings, just like the other members do. At these meetings, the auditors can speak about any part of the meeting that has to do with their job as auditors.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM372075.

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100: Qualifications of auditors and access to information, or

"Rules about who can check a society's money and how they get information"

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102: Accounts of groups in terminating society, or

"Old rules for group money records in special societies no longer exist"

Part 7Management and administration
Accounting records and financial reporting

101Auditors' report and right to attend meetings

  1. The auditors of a society shall make a report to the members on the financial statements laid before the society at the annual general meeting during their tenure of office.

  2. An auditor must, in carrying out an audit for the purposes of subsection (1) or section 92, comply with all applicable auditing and assurance standards.

  3. The auditor's report must comply with the requirements of all applicable auditing and assurance standards.

  4. Repealed

  5. Repealed

  6. Repealed

  7. Repealed

  8. The auditors of a society shall be entitled—

  9. to attend any general meeting of the society, and to receive notices of and other communications relating to any general meeting which any member of the society is entitled to receive; and
    1. to be heard at any meeting which they attend on any part of the business of the meeting which concerns them as auditors.

      Compare
      • Building Societies Act 1962 s 87 (UK)
      Notes
      • Section 101 heading: amended, on , by section 10(1) of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
      • Section 101(1): replaced, on , by section 21 of the Building Societies Amendment Act 1987 (1987 No 175).
      • Section 101(1): amended, on , by section 10(2) of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
      • Section 101(2): replaced, on , by section 10(3) of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
      • Section 101(3): replaced, on , by section 10(3) of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
      • Section 101(4): repealed, on , by section 10(3) of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
      • Section 101(4A): repealed, on , by section 10(3) of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
      • Section 101(5): repealed, on , by section 10(3) of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
      • Section 101(6): repealed, on , by section 10(3) of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).