Canada Cooperatives Act (S.C. 1998, c. 1)

Marginal note:Examination

• 261 (1) An auditor of a cooperative must make any examination that is in the auditor’s opinion necessary to enable the auditor to report in the manner that may be prescribed on the financial statements required by this Act to be placed before the members or shareholders, except any financial statements or parts of statements that relate to the period referred to in subparagraph 247(1)(a)(ii).

• Marginal note:Reliance on other auditor

  (2) Despite section 262, an auditor of a cooperative may reasonably rely on the report of an auditor of an entity the accounts of which are included in whole or in part in the financial statements of the cooperative.

• Marginal note:Application

  (3) Subsection (2) applies whether or not the financial statements of the cooperative reported on by the auditor are in consolidated form.