COOPEEATIVE OKCAN IZATJON BUSINESS METHODS. 23 
in such detail that all expenditures are itemized properly and profits 
sfeown in such a way that it is easy to determine just where they 
originated. 
•_."). No one thing- connected with the business of any cooperative 
body is more important than the proper auditing- of accounts. Both 
an internal and external audit should be made at regular and fi?e- 
qnent intervals. The internal audit is generally conducted by a 
committee of the members. The external audit should be made by an 
expert accountant and should be complete. 
26. Auditing circles can be formed to great advantage when there 
are several cooperative organizations in the same territory. 
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