Approval of annual financial statement and auditor’s report

(1) The annual financial statement of a credit union shall, be approved by the Board of Directors and such approval shall be 52 Credit Unions Act evidenced on the financial statement by the signature of two of the directors duly authorized to sign. (2) The auditor’s report shall be attached to the annual financial statement of a credit union and shall, within sixty-one (61) days of the end of its financial year, or such longer period as the Registrar may in special circumstances permit, be read at the annual meeting of members and shall be open to inspection by any member. (3) A credit union shall not issue, circulate or publish a copy of its annual financial statement, unless– (a) the original has been approved by the directors and signed in the manner required by sub- section (1); (b) the original has received the complete certification or opinion of an approved auditor in accordance with section 56(8); and (c) any recommendations previously submitted to the credit union in writing by the Registrar have been dealt with to the satisfaction of the etc.