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COMMERCIAL LAW CIRCULARS
Professionals Under Law No. 3568 May Be Appointed for External Audits of Cooperatives
The Regulation on the Audit of Cooperatives and Their Umbrella Organizations sets out the principles and procedures governing the audit of cooperatives, unions, and central unions.
According to the regulation, cooperatives subject to external audit may appoint licensed professionals under Law No. 3568 (CPA / Sworn CPA) during their general assemblies to conduct such audits.
Cooperatives that fail to fulfill their external audit obligations despite being subject to them may have their financial statements, annual board activity reports, and general assembly discharge decisions considered legally invalid.
This regulation aims to enhance financial transparency, accountability, and regulatory compliance within cooperatives.
