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TEAM SPIRIT

We are guided in our operations by the following international co-operative principles:

      •   Voluntary and Open Membership 
      •   Democratic Member Control
      •   Member Economic Participation 
      •   Autonomy and Independence 
      •   Education, Training and Information
      •   Co-operation among Co-operatives
      •  Concern for Community

 

TRANSPARENCY

The board of Directors ensures that the co-operative society complies with relevant laws, regulations and co-operative principles to ensure accountability and transparency in the management of the affairs and the resources of the society.

INTERNAL CONTROL

Internal control is an essential element in the governance framework that plays a key role in identifying, minimizing and managing risks, and safeguarding the assets of an organization. 

The Board ensures that management sets and maintains a sound system of internal control to safeguard society and members’ interests.

ACCESS TO INFO

The Board ensures a proper documented system which provides relevant information to all “stakeholders”. The Board also ensures that access to information during the office hours is not denied to the stakeholders.

Composition of the Board

The Board comprises of not less than 3 and not more than 9 Directors elected in accordance with the rules. The Board comprises of Directors who, as a group, would provide core competencies for effective decision-making.

Competencies

Subject to the rules and regulations of the society, where core competencies for decision making are not available among the Directors, the Board will consider co-opting non-members with such core competencies on the Board.

Communication

The Board ensures that there is a clearly written policy to be provided to members for the following information: the rules, latest audited financial statements and annual reports, objectives, activities and projects of the society.

Complaints

A complaints handling system is organized for members and other stakeholders of the co-operative society to express their grievances. A complaints committee is also set up by the Board to process the complaints.

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