AUDIT AND SUPERVISION OF COOPERATIVE BUSINESS IN DOMESTIC AND EUROPEAN LAW

PROTIĆ Marina (Универзитет „Унион – Никола Тесла” Београд, Confida Serbia), majaprotic@yahoo.com

Cooperatives are a unique combination of a society of persons and capital, autonomous and established economic entities based on democratic governance and respect for cooperative values and principles. As for other economic entities, special rules on audit, control, and supervision of operations also apply to cooperatives, which are more or less harmonized with the rules that apply to other economic entities. The present paper aims to consider different concepts of audit, control, administrative and inspection supervision of cooperatives in domestic cooperative law with a comparison of solutions present in the cooperative law of some EU member states. The analysis starts from the assumption that in national legislation, there is uniformity in the regulation of business activities of cooperatives. A more detailed overview of the regulatory framework and the legal nature of special forms of audit and supervision of cooperative business in Serbia should point out certain differences between domestic and European law, which may be important for further harmonization of our cooperative legislation with EU law.

Keywords: Аudit, cooperative, supervision, business control, inspection, Serbia, EU