(1) An auditor of a society shall make the examination that is in his or her opinion necessary to enable him or her to report in the prescribed manner on the financial statements required by this Act to be placed before the members, except such financial statements or parts thereof that relate to the immediately preceding financial year referred to in section 124(1)(a)(ii).
(2) The auditor of a society shall make a report to the members, on the accounts examined by him or her, and on every balance sheet and every revenue and appropriation account laid before the society at the Annual General Meeting during the tenure of office of the auditor.
(3) The auditor's report shall state whether the balance sheet and revenue and appropriation accounts are properly drawn up in accordance with the requirements of this Act and the Regulations made under this Act, and whether, in the opinion of the auditor they give a true and fair view—
(a) in the case of the balance sheet, of the state of the society's affairs at the end of its financial year; and
(b) in the case of the revenue and appropriation accounts, of the income and expenditure of the society for its financial year.
(4) It shall be the duty of the auditor of a Society, in preparing his or her report under this section to carry out such investigations as will enable him or her to form an opinion as to—
(a) whether the society has kept proper books of accounts and proper records of the matters referred to in section 124(1);
(b) whether the society has maintained a satisfactory system of control over its transactions and records;
(c) whether the balance sheet and revenue and appropriation accounts are in agreement with the books of accounts and records of the society;
(d) whether the society has kept proper books of accounts and records and maintained a satisfactory system of control over its transactions and records; and
(e) whether the balance sheet and revenue and appropriation accounts are in agreement with the books and records of the society.
(5) The auditor's report shall be read before the society at the annual general meeting and shall be open for inspection to any member.