Statutes of the auditing association

(1) The statutes of the association must contain: 1. the purposes of the association; 2. the name; it should be clearly distinguishable from the name of other already existing associations; 3. the seat; 4. the district.
(2) The statutes should further contain provisions on the selection and proof of qualification of the auditors to be employed, on the nature and scope of the audits, and, insofar as the auditing association carries out statutory audits of cooperatives within the meaning of section 53(2), within the meaning of section 340k(2), first sentence of the Commercial Code, within the meaning of Article 25(1), first sentence of the Introductory Act to the Commercial Code, or audits the consolidated financial statements of a cooperative under section 14(1) of the Publicity Act, on registration as a statutory auditor, on the binding to the professional principles and observance of the auditing standards in accordance with the provisions applicable to public accounting firms, and on the appointment, seat, duties and powers of the management board and the other organs of the association.
(3) Alterations of the statutes having as their subject the provisions necessary under subsections (1) and (2) are to be notified to the supervisory authority without delay.