2006 New York Code - Audit And Annual Report.

 
    §  75.  Audit  and  annual report. Immediately after the close of each
  fiscal year, every cooperative corporation shall cause an  audit  to  be
  made  of  its  operations  for such fiscal year. A written report of the
  audit, including a statement of services rendered  by  the  corporation,
  with  total  amount  of  business  transacted, balance sheet, income and
  expenses shall be submitted to the annual meeting of the corporation and
  shall at all times be available for inspection  by  any  member.    Such
  audit  shall  be made by an experienced bookkeeper or accountant or firm
  of accountants not regularly employed by the corporation, provided  that
  in  the  case of a cooperative corporation, the annual business of which
  amounts to less than one hundred thousand dollars, the audit may be made
  by an auditing  committee  of  three  members  or  stockholders  of  the
  corporation  who shall not be directors, officers, or employees thereof.
  Any person violating or failing to comply with the  provisions  of  this
  section shall be deemed guilty of a misdemeanor.