Financial Audit
From FairShares Wiki 3.x
A Financial Audit is required in a FairShares Company or Co-operative if it exceeds a member threshold set in its Articles of Association. By default, this is set at over 50 members. Below this number, auditing requirements are subject to the regulations relevant to the operating context and the wishes of members.
Provisions for accounting and auditing are defined in Clause 47 of the FairShares Articles of Association.
United Kingdom In many cases, members can apply for an exemption from financial audit under the provisions of the relevant Companies Act. Further information is available from the UK Government’s website.
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