In accordance with the Cooperative Societies Act of 2005, all cooperatives are subject to comply with the submission of financial data and reporting as deemed necessary under the powers of the Director of Societies.   

The act permits on-site inspection without notice and for any length of time necessary to verify compliance with the policies, by-laws and the act. The Department of Cooperative Development may perform risk-based audit, inquiry, inspection, and investigation at any time.  This can be triggered by PEARLS analysis report, physical layout of the establishment, and health of the balance sheet.  During on-site inspection, field officers verify compliance to the Cooperative Societies Act, policies, and the cooperative’s by-laws.

Members may initiate the inspection/audit/inquiry through a request.  On completion of an on-site inspection exercise, a report is prepared and submitted to the cooperative in question.  The report includes commendation and recommendation with the aim of bringing the cooperative into compliance with the Cooperative Societies Act, policies, and the cooperative’s by-laws.
 

For more Information Please contact

Cooperative Development
P.O. Box N-3028
Levy Building
Bay Street East
Nassau, New Providence
The Bahamas
Tel. (242) 356-3152-4 or 323-6605
Fax.(242) 356-4622
E-Mail: coopdevelopment@bahamas.gov.bs 
           coopbahamas@hotmail.com 
Opening hours: 9:00 am to 5:00 pm, Monday to Friday, except public holidays