Building Societies Act 1965

106 Auditors’ report on annual return

(1)

The auditors of a society shall make a report on the annual return, and that report shall be annexed to the annual return made to the Registrar.

(2)

Without limiting the power to make regulations under section 137, any such regulations may provide that the auditors of a society shall not be required, in their report on the annual return, to deal with such of the matters to be contained in the annual return as may be prescribed.

(3)

The auditors’ report on the annual return shall, without prejudice to any provision of this Act requiring any other information to be contained therein, contain statements as to the following matters:

(a)

whether in their opinion the annual return is properly drawn up in accordance with this Act and any regulations made thereunder:

(b)

whether the annual return gives a true and fair view of the matters to which it is to be addressed, other than those with which the auditors, by virtue of regulations made under this Act, are not required to deal:

(c)

whether the annual return is in agreement with the accounting and other records of the society.

Compare: 1908 No 18 s 44(2); Building Societies Act 1962 s 91 (UK)

Section 106(3)(c): amended, on 1 April 2014, by section 12 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).