Co-operatives

Audit Requirement

The requirement for an annual audit is determined by the rules of the Cooperative and the Co-operatives Act 2009.  All Cooperatives except for Small Cooperatives, have to appoint an auditor for the annual financial audit.  A Small Cooperative may appoint an auditor if they so choose.

 

Anderson Munro & Wyllie has provided concise, clear and efficient services assisting us to develop accurate and robust systems leading to improved outcomes for our enterprises.

GLEN SCOTT,
CHIEF EXECUTIVE OFFICER, YORK & DISTRICT CO‑OPERATIVE LIMITED

Audit Process

The audit process starts with obtaining a copy of your trail balance – we then select balances and transactions to test based on the size of the balances and the risk of misstatement involved, as well as to test that your control processes work appropriately.  We also do some analytical procedures to ensure it all makes sense, read your minutes of meetings and other audit procedures as required by the audit standards.

Lastly, the financial statements are signed by the committee or board and we issue our audit report.

We have been auditing Cooperatives for over 40 years.

AMW have been carrying out independent audits of the Cunderdin Farmers Co-op for the last 20 years. They act with professionalism and extreme confidentiality.

JAYSON GOLDSON,
CHIEF EXECUTIVE OFFICER, CUNDERDIN FARMERS CO‑OPERATIVE COMPANY LTD