Amendment status not verified — confirm the current text below against the official source.
Audit of Accounts and returns of the Co-operative Society, - (1) Every Cooperative Society shall be audited by an auditor or auditing firms appointed by the General Body of the Cooperative Society. Provided that, such auditor or auditing firms shall be appointed from a panel approved by the Registrar having required qualification of the auditors and auditing firms. (2) The accounts of every Cooperative Society shall be audited within six months of the closure of the financial year to which the accounts relate. (3) The audit shall include an examination of overdue debts, if any, the verification of the cash balance and securities, and the valuation of the assets and liabilities of Society. (4) The auditor auditing the accounts of the society shall, at all times, have access to all the books accounts, documents, papers, securities, cash and other properties belonging to, or in the custody of the society, and may summon and person in possession, or Registrar’s power to seize records, etc. Audit. APCS ACT 1978 37 responsible for the custody, of any such books, accounts, documents, papers, securities, cash or other properties, to produce the same at any place at the headquarter of the society or any branch thereof. (5) Every person who is, or has at any time been, an officer or employee of the society and every member and the past member of the society shall furnish such information with regard to the transaction and working of the society as the auditor may require. (6) The Auditor shall have the right to receive all notes, and every communication relating to the Annual General meeting of the society and to attend such meeting to hear there at in respect of any part of the business with which he is concerned as auditor. (7) If it appears to the General Body of the Co-operative Society, that it is necessary or expedient to re-audit their accounts, the same may be done with the information of the Registrar. (8) The audit reports of the accounts of theApex Cooperative Societies shall be laid before the State Legislature as per prescribed procedure of laying of such audit report. (9) Every Co-operative Society shall file returns as mentioned below within six months of the closure of every financial year to the Registrar. (i) Annual report of each activities. (ii) Its audited statement of accounts. (iii) Plan for surplus disposal as approved by the General Body of the Co-operative Society ; (iv) List of amendments to the Bye-laws of the Co-operative Society, if any ; (v) Declaration regarding date of holding of General Body meeting and conduct of election when due; and (vi) Any other information required by the Registrar in pursuance of any of the provisions of this Act.