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REGULATORY AND INSPECTION UNIT

Overall Purpose of the Unit:

To ensure that registered societies operate within the ambit of the laws; maintain a sound accounting system; and adhere to strict financial management as is mandated under the Cooperative Act, Chapter 313 and the Credit Union Act, Chapter 314

Functions:

Provide overall planning for audit and inspection activities in respect of all registered Societies

Act as auditor for cooperative societies

Thoroughly check and recommend approval of audits conducted by external auditors
Serve as resource unit for training programs

Maintain adequate statistics and prepare monthly, quarterly and annual statistical report

Ensure that financial statements from all registered societies are received by the Department, checked and analyzed

Inspect bylaws of societies in formation (proposed) and amendment to bylaws of registered societies and place in writing, to the Registrar, any corrections or recommendations

Supervise liquidations and mergers where assigned

Act as investigator for investigation and inquiry forwarded to the Department

Provide the Registrar with analytical reports on position and operational statements aimed at improving the performance of Societies

Ensure regular inspection of all registered societies

Maintain a functional and operational database of members of all societies.


   
         
Ministry of Agriculture & Fishereis, Belize