Co-operative and Community Benefit Societies Act 2014

(1)A registered society must ensure that proper books of account are kept with respect to its transactions and its assets and liabilities.

(2)The duty under subsection (1) includes a duty to ensure that there are kept such books as are necessary to—

(a)give a true and fair view of the state of the society’s affairs, and

(b)explain its transactions.

(3)A registered society must establish and maintain a satisfactory system of control of its—

(a)books of account,

(b)cash holdings, and

(c)receipts and remittances.

(1)A registered society may keep a book of account by—

(a)making entries in bound books, or

(b)recording the matters in question in any other way.

(2)Where a book of account is kept otherwise than by making entries in a bound book, the society must take adequate precautions for—

(a)guarding against falsification, and

(b)facilitating its discovery.