The Department of Cooperative Development is obligated by law to cause the records, systems, and operations of each registered cooperative society to be audited at least once per year. Each society selects its auditor from the panel of professionals annually announced by the director.

As a business holding public funds in trust, every cooperative society - including newly formed societies and school cooperatives - is expected to bear the cost of its own audit.

All auditors in their examination and reports are required to comment on the accounting system, its compliance with international audit and accounting standards, internal controls, asset quality and liquidity trends, as well as on the production, savings, and lending policies and practices.

The director, in turn, institutes regular monitoring and policing measures to ensure board and management follow-up with the auditor’s findings and recommendations.