CORRECTIONS

1. Chairman’s Report

We remain positive that the food prices will reduce and the government will review some of its policies
so as to increase the disposable income of the majority of its citizens.

● Loans to Members increased from 45.6M to 57.2M being a 25.4% growth.

2. Use the word document for the Minutes. I have made corrections.

3. Eliminate the statement of changes in Equity

4. Add Notes to the accounts

5. Cashflow to take ½ a page

6. Statistics

Expenses 899,781.7 1,165,494.0 1,146,216.6 1,594,470.0 1,890,623.0

I have added a row on expenses plus a new graph.

Other statistics section part missing

7. Credit report has small fonts. Rename to be credit committee report

8. Summarise Audit Report to read

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF MACLY SAVINGS &

CREDIT CO-OPERATIVE SOCIETY LTD.

OPINION

We have audited the accompanying financial statements of Macly Savings & Credit Co-

operative Society Limited, which comprise the Statement of Financial Position as at 31 st

December 2023, Statement of Comprehensive Income, Statement of Changes in Equity and

Statement of Cash flows for the year then ended, and a summary of significant accounting

policies and other explanatory information.

In our opinion, the financial statements present fairly, in all material respects, the financial

position of the Society as at 31stDecember 2023, and of its financial performance and its cash

flows for the year then ended in accordance with International Financial Reporting Standards and the
requirements of the Kenyan Sacco Societies Act.

REPORT ON OTHER LEGAL REQUIREMENTS.

As required by the Kenyan Co-operative Societies Act, we report to you that the financial

statements are in agreement with the books kept by the society and that, based on our audit,

nothing has come to our attention that causes us to believe that the society’s business has not

been conducted:

(A) In accordance with the provisions of the Co-operative Societies Act.

(B) In accordance with the Co-operatives Objectives, By-laws and any other resolutions

made by the Society at a general meeting.

For and on behalf of

MINISTRY OF CO-OPERATIVES AND MICRO, SMALL & MEDIUM ENTERPRISE

(MSMES) DEVELOPMENT

CPA BETTY C RONO

DEPUTY COUNTY DIRECTOR CO-OP AUDIT

NAIROBI CITY COUNTY.

9. Add some pictures