The Directorate of Cooperative Audit draws its mandate from Section 25 of the Cooperative Societies Act, Cap.490 (amended 2004) and the Cooperative Societies Rules, 2004 (rule No. 14-19), which requires all registered Cooperatives Societies to;
- Keep proper accounts and prepare financial statements in accordance with IFRS/IAS and as may be required by the Commissioner for Cooperative Development
- be audited at least once every year by an auditor who is approved by the Commissioner in consultation with the Institute of Certified Public Accountants of Kenya
- present the audited accounts and annual returns to the Commissioner for Cooperative Development within four months after the closure of the financial year.
- Present the audited accounts together with any comments made by the Commissioner on the accounts to the general meeting of the society within a period of four months after the closure of the financial year
- The Directorate assists the Commissioner to carry out functions that relates to accounting, auditing, inspections and inquiries in cooperative societies.