Cooperatives Act Article 36

At the end of a business year, the board of directors shall prepare a business report, a balance sheet, a statement of surpluses and deficits, a property inventory, and a surplus allocation or deficit sharing scheme. The said documents shall be submitted to the general meeting of members after having been examined by the board of supervisors at least ten days before the general meeting of members is held. However, this is not applicable when an extraordinary meeting of the general meeting of members is convened.The central competent authority shall establish regulations on the content of the financial statements set forth in the preceding paragraph, scope of accounting affairs, financial management, payment of expenditures, and other matters to be complied with.A cooperative shall, within one month after the documents specified in Paragraph 1 are approved by the general meeting of members, send a written report to the competent authority for future reference. The competent authority may assign its staff to conduct an on-site inspection, or conduct a joint inspection with relevant agencies if necessary, and the cooperative must not evade, hinder, or refuse such an inspection.The central competent authority shall establish regulations on the types, methods, and procedures of the said inspection, supervision by the competent authority, and other matters to be complied with.