In accordance with the Cooperative Societies Act 2005 & Cooperative Societies Regulations 2012 (Proposed), all cooperative societies must, at its own expense, have an auditor, who has been approved by the Director of Societies, conduct an audit and prepare an audit report at the end of each year’s activities.   

All Registered Cooperative Societies.

1. One month before the proposed date for Annual General Meeting, the Cooperative must submit the Annual Audit Financial Statement to the Director of Societies.
2. This must be submitted in duplicate to the Director of Societies. It is required that Annual Audit Financial Statement be submitted prior to setting an Annual General Meeting date.
3. The Annual Audit Financial Statement must be accompanied by the management letter.
4. Once submitted, the report is analysed by the department.  After reviewing the audit, the director will acknowledge receipt, and may request additional documentation and give recommendations to the society.  
5. Following the review, the director may grant approval for the cooperative to conduct the Annual General Meeting. Notice, the director reserves the right to withhold approval for convening the Annual General Meeting until all concerns and requirements are addressed and satisfied.

No forms are necessary for this service

• Management letter

While no fees are payable to the Department of Cooperatives, there may be fees associated with conducting the actual audit.

Cooperative Development
P.O.Box N-3028
Levy Building
Bay Street East
Nassau, New Providence
The Bahamas
Tel. (242) 356-3152-4 or 323-6605
Fax. (242) 356-4622
E-mail: coopdevelopment@bahamas.gov.bs 
           coopbahamas@hotmail.com 
Opening hours: 9:00 am to  5:00 pm, Monday to Friday, except public holidays