An operations inspector evaluates a corporation with regard to how its administration is organised, the accuracy of its accounts and financial statements, the appropriateness of benefits awarded to management and of related party transactions, and whether members are treated equally.
Previously, any person was allowed to perform the duties of an auditor, even if they were not a professionally qualified auditor. Subsequently, the title of ‘auditor’ was restricted to professionally qualified auditors, and the function of an operations inspector was differentiated from it.
An auditor may, of course, perform the duties of an operations inspector. Corporations that are allowed by law to appoint an operations inspector may themselves determine whom they consider to have sufficient competence to perform the duties of an operations inspector.
If a corporation does not need to have an operations inspector pursuant to the law, its Articles of Association or its by-laws and no operations inspector has been appointed, a shareholder or member may nevertheless be entitled to request that an operations inspector be appointed. The application for appointing an operations inspector must be submitted to the Regional State Administrative Agency.