Amendment status not verified — confirm the current text below against the official source.
Nature of audit.- (1) The audit under section 61 shall include,- (a) a verification of the cash balance, securities and stocks; (b) a verification of the balance at the credit of the depositors and creditors and of the amounts due from the debtors of the society; (c) an examination of the overdue debts, if any; (d) a valuation of the assets and liabilities of the society; (e) an examination of the transactions including the monetary transactions of the society; (f) an examination of the statement of accounts to be prepared by the managing committee in such form as may be prescribed; (g) a certificate of the profits realised; and (h) any other matter that may be prescribed. (2) The statement of accounts thus audited, together with the modifications, if any, made therein by 1[auditor] shall be final and binding on the co-operative society.