A society is required to refer to its constitution for its auditing requirements. Where the gross income or expenditure of the society exceeds $500,000 in that financial year, Section 4 of the Societies Regulations requires that the accounts be audited by a qualified company auditor. A society that does not have any monetary transactions, assets or liabilities for the financial year need not submit a Statement of Accounts. The society, however, is required to declare in writing that it does not have any monetary transactions, assets or liabilities for the financial year.
Upon receipt of the Statement of Accounts, the Registry of Societies will process the submission and where necessary, seek further clarification from the applicant. Applicants can log in to our e-services to check on the status of their application/submission.
