law: Co-Operative Societies Act 2008 
  Part
  
  VIII Financial Disclosure and Audit
  124.
  
  Annual financial statements
  1.      The directors of a
  
  society must place before the members at every annual meeting of members of the
  
  society-
  a.     
  
    comparative
  
  financial statements, as prescribed, relating separately to-
                       
  
   i.        
  
    the
  
  period that began on the date the society came into existence and ending not
  
  more than twelve months after that date, or, if the society has completed a
  
  financial year, the period that began immediately after the end of the last
  
  period for which financial statements were prepared and ended not more than
  
  twelve months after the beginning of that period; and
                      
  
   ii.        
  
    the
  
  immediately preceding financial year;
  a.    
  
     
  b.    
  
    the
  
  report of the auditor; and
  c.     
  
    any
  
  further information respecting the financial position of the society and the
  
  results of its operations required by the by-laws.
  1.      
  2.      The financial
  
  statements mentioned in sub-paragraph (ii) of paragraph (a) of
  
  subsection (1) may be omitted if the reason for the omission is set out in the
  
  financial statement to be placed before the members or in a note attached
  
  hereto.