Interim Report of the Audit and Control Committee for the year 1995

    This document has been made available in electronic format
         by the International Co-operative Alliance ICA 
                         October, 1996

     (Source: Review of International Co-operation,
     Vol.89, No.3/1996 (Annual Report 1995/96), p.86)

        Interim Report of the Audit and Control Committee
                     for the Year 1995

1996 being an intervening year between General Assemblies, the
Committee is issuing an interim report for the year 1995. The
complete report for the period 1995-1996 will be delivered at
the General Assembly in 1997.

The Committee has remained the following composition: Dr.
Markus Schelker of Coop Switzerland (Chairman), Dr. Pal Bartus
of Co-op Hungary, Mr. Ivar O. Hansen of NBBL Norway,
Mr.Wilhelm Kaltenborn of VdK Germany and Mr. Jacques Moreau of
G.N.C. France. Mr. Claes Thorselius, the ICA Deputy
Director-General, has been the Secretary to the Committee.

The Committee has held two meetings in the past year. The
first one, in conjunction with the Manchester General
Assembly, focused on a general review of the financial and
organisational situation, the progress of the implementation
of International Accounting Standards (IAS) and a look at the
forthcoming budget and audit work. The second meeting, in May
1996, was devoted to the 1995 Financial Statements and the
Report of the Auditors. Two weeks before the spring meeting,
the Chairman had a review meeting with the auditors in Geneva.

Through these meetings, we have formed the opinion that: 

1.   The structure and organisation of work has functioned
     well and been most cost efficient.

2.   The routines and control mechanisms are appropriate and
     well functioning.

3.   An important step has been made in terms of implementing
     the IAS in all ICA offices. As seen from the accompanying
     Report of the Auditors and Financial Statements, this
     step has lead to a good and clean opinion from the

4.   The good 1995 surplus, of CHF 225,019, was to a large
     extent a result of the overwhelming participation at the
     Centennial Celebrations in Manchester.

5.   Our proposal to the 1997 General Assembly will be that:

 The 1995 Accounts are approved as presented and

The surplus is transferred to the General Reserves.