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Małgorzata Winter

the misrepresentation of data submitted in financial statements of a cooperative in the light of bankruptcy law and cooperatives law. The first part reviews legał regulations and subject malter literaturę to identify grounds for the application for bankruptcy filed by a cooperative;

it also discusses qualitative features of financial statements logether with reasons and methods of its falsification. The sccond part, a case study, exemplifies considerations and substantiates the thesis that the absence of chartered auditors examination intensifies the risk of falsification of financial statements. Main findings from desk research and empirical studies can be found in the conclusions, where the authors stress that all financial statements should be

subject to an independent audit.

Keywords: bankruptcy, cooperative, falsification, financial statements