Accounts, audit and auditors
39CF1Authority’spower to require accounts of past years to be audited.
F21
The F3Authority may give a direction to a registered society or branch in respect of any relevant year of account of the society or branch before the year of account in which the direction is given—
a
requiring it to appoint a qualified auditor or qualified auditors to audit its accounts and balance sheet for that year, and
b
where it has sent to F3theAuthorityits annual return for that year before the date of the direction, requiring it, after its accounts and balance sheet have been audited by a qualified auditor, to send F3the Authoritywithin three months from receipt of the direction a further annual return complying with the requirements of this Act (other than that as to time of sending).
2
A failure by a registered society or branch to comply with any direction given by the F3Authority under subsection (1) above shall be an offence under this Act.
3
For the purposes of subsection (1) above, a year of account of a registered society or branch is relevant year of account if it is one at the end of which there is in force in relation to it a disapplication under section 32A(1) above.