Bill Fitzwater Cooperative Chair
Oklahoma State University
Directors, managers, and advisers of new and developing cooperatives need to be well informed about the importance of an annual audit.
Reasons for Audit
Securing an annual audit of the cooperative’s financial records is the responsibility of the board of directors. Because the board acts as the trustee of the cooperative’s assets, it is responsible for safeguarding, auditing, and appraising the cooperative’s financial resources. The audit is a fundamental part …