N.Y. CCO Law § 75

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