The Guyana Agricultural and General Workers Union (GAWU) Co-operative Credit Society says the Cooperatives Division’s stay on the auditing of its accounts is preventing the holding of its Annual General Meeting (AGM) and the pay-out of dividends and interest rebates to members.
A press release from the Society stated that in keeping with the organisation’s rules, its 2014 accounts have to be audited before it can hold the AGM by yearend, thereby allowing it to make the payments.
In response to the Society’s letter, dated September 17th, 2015, in which it indicated its accounts were ready for auditing, Mr J Panchu, Assistant Chief Co-operative Development Officer within the Ministry of Social Protection, apprised the body that the auditing of all credit unions had been postponed “indefinitely.”
The Society replied on October 5th and maintained that the Commissioner is obligated to perform the audit, since the laws governing the Co-operative Societies Act of Guyana instructs either the Commissioner or a person authorised by him to audit the accounts of every registered society at least once yearly. It also expressed the hope that the matter can be concluded before the third week in November, allowing it to convene their AGM before the year
To date there has been no reply to their letter from the Commissioner.
Stabroek News yesterday contacted Panchu, who said he was not authorised to speak and he referred this newspaper to the Chief Labour Officer Charles Ogle. However, attempts to get Ogle were unsuccessful.
