Audit by the association

(1) The cooperative is audited by the association to which it belongs. The association makes use, for the audit, of the auditors it employs. These should be adequately trained and experienced in cooperative auditing matters.
(2) A legal representative of the association, or a person employed by the association who may influence the outcome of the audit, is excluded from the audit of the cooperative where reasons exist, in particular relationships of a business, financial or personal nature, giving rise to concern of bias. This is in particular the case where the representative or the person 1. is a member of the cooperative to be audited; 2. is a member of the management board or supervisory board, or an employee, of the cooperative to be audited; 3. has, beyond the auditing activity, taken part, at or for the cooperative to be audited, in the business year to be audited or up to the issuing of the auditor's certificate, a) in keeping the books or preparing the annual financial statements to be audited, b) in the conduct of internal audit in a position of responsibility, c) rendered management or financial-services activities, or d) rendered independent actuarial or valuation services having more than an immaterial effect on the annual financial statements to be audited, provided these activities are not of subordinate significance; this also applies where one of these activities is exercised, for the cooperative to be audited, by an undertaking at which the legal representative of the association or the person employed by the association exercises that activity, or may influence its outcome, as legal representative, employee, member of the supervisory board, or partner holding more than 20 per cent of the voting rights vesting in the partners. The second sentence, no. 2 does not apply to members of the supervisory organ of the association, provided it is ensured that the auditor can carry out the audit independently of instructions by the supervisory organ. The third and fourth sentences also apply where the spouse or the civil partner satisfies a ground of exclusion. Where the cooperative to be audited is an undertaking of public interest within the meaning of section 316a, second sentence, no. 1 or 2 of the Commercial Code, Article 5(1), (4), first subparagraph and (5) of Regulation (EU) No. 537/2014 applies correspondingly, beyond the grounds named in the first to fourth sentences, to the representatives and persons of the association named in the first sentence; Article 5 of Regulation (EU) No. 537/2014 does not apply to the association.
(2a) Article 4(3), first subparagraph of Regulation (EU) No. 537/2014 applies correspondingly to all representatives and persons of the association named in subsection (2), first sentence; Article 4(2) and (3), first subparagraph of Regulation (EU) No. 537/2014 does not apply to the association. Article 4(3), second subparagraph of Regulation (EU) No. 537/2014 does not apply.
(3) The association may make use of an auditor not employed by it where this is necessary in the individual case to ensure a lawful audit carried out properly and on time. The association may, however, only engage another auditing association, a public accountant or a public accounting firm with the audit.
(4) Where the cooperative belongs to several associations, the audit is carried out by the association whose membership the cooperative acquired first, unless that association, the cooperative and the other association that is in future to carry out the audit agree that the other association is to carry out the audit.