Amendment status not verified — confirm the current text below against the official source.
(1) The Government shall, by notification in the official Gazette, appoint a person to be the Director of Cooperative Audit with jurisdiction over the whole of the State. (2) The qualification and the terms and conditions of the person to be appointed as the Director of Cooperative Audit shall be such, as may be prescribed. 69A[(3) The Government may by general or special order, delegate all or any of the powers of the Director of Cooperative Audit, in the Act to his subordinate officers 69CB[or to the subordinate officers of the Registrar].] 69AA[(4) It shall be the duty of the managing committee cause to audit the accounts of every society at least once in every year: Provided that the accounts of every society shall be audited within six months of the close of the financial year to which such accounts relate.] 69CD[Provided further that in the case of those societies which are liable to file income tax returns, financial statements for that purpose shall be duly certified by the Auditor, within three months from the end of the financial year.] 69AB[(5) The procedure to be adopted in auditing the accounts of different types of co-operative societies should be in the manner specified in the audit manual approved by Director of Cooperative Audit or guidelines, directions as may be issued, from time to time, by the Registrar, the National Bank for Agricultural and Rural Development or Reserve Bank of India, as the case may be, from time to time. (5A) It shall be the duty of the Director of Cooperative Audit in consultation with Registrar to revise, amend or update audit manual in every five years, as may be prescribed.] 69B[(6) Notwithstanding anything contained in any other law for the time being in force, the Audit certificate issued by the Director of Cooperative Audit, or by any officer authorized by him shall be valid for all purposes required to be filed before the State Government and non-governmental authorities.] 69C[(7) The Director of Cooperative Audit shall be under the control of the Registrar of Cooperative Societies.] 69CA[(8) The minimum qualification and experience of auditors for auditing accounts of the co-operative society may be such, as may be prescribed. 69CE[(9) Every co-operative society shall cause to be audited by a team of auditors appointed by the Director of Co-operative Audit in accordance with the scheme approved and notified by the State Government. The composition, structure of the team, mode of conducting audit, mode of processing and preparing audit report shall be included in the scheme approved by the State Government.] 69CF[(10) The financial accounts of all apex societies and all urban co-operative banks shall be audited by auditing firms, from among the panel approved by the Director of Co-operative Audit and the administrative matters and related accounts of assisted apex societies shall be audited by the departmental auditors and submit the audit reports to the Director of Co-operative Audit. If the audit discloses any misappropriation or fraud or defalcation of money or property or assets of the society, audit team shall prepare a special report and forward the same to the Director of Co-operative Audit and the Registrar. The Registrar himself, or the Director of Co-operative Audit in consultation with the Registrar, shall forward the special report to the Vigilance Officer appointed under section 68A for detailed inquiry.] (11) The audit report of the accounts of an apex co-operative society which includes the report on administrative matters, shall be laid by the Government before the Legislative Assembly, in the manner prescribed. (12) It is the responsibility of the managing committee to convene general body meeting or special general body meeting in order to appoint auditors or auditing firms within the stipulated time from among the panel approved by Director of Cooperative Audit, failing which, the members of the managing committee shall cease to hold their office. In such cases to avoid administrative stalemate, the Registrar may suo motu or on application from the Director of Cooperative Audit or from any person authorised in this behalf, appoint an administrator or an administrative committee consisting of not more than three persons, 69CG[who shall be from among the] members of the society, one among them as convener, to manage the affairs of the society, for a period not exceeding six months as may be specified in the order: Provided that administrator or administrative committee shall arrange for the constitution of a new committee or for entering upon office of the new committee, as the case may be.] 69CH[(12A) No auditor or auditing firms or team of auditors shall be entrusted with the audit of a co-operative society for more than two consecutive audits.] 69CC[(13) The Government may issue notification, either prospectively or retrospectively, by publishing the same in the Gazette, to carry out the purposes of this section.] Substituted by Act 7 of 2010 w.e.f. 28-04-2010. Substituted by Act 8 of 2013 for "it shall be the duty of the Director of Cooperative Audit to audit or to cause to be audited through persons authorised by him, the accounts of every society, at least once in each year" w.e.f. 14/02/2013. Substituted by Act 8 of 2013 for "The Government shall prescribe the manner, in which audit is to be conducted by the Director of Cooperative Audit" w.e.f. 14/02/2013. Inserted by Act 9 of 2009 w.e.f. 11-12-2007. Inserted by Act 7 of 2009 w.e.f. 28-04-2009. Inserted by Act 8 of 2013 w.e.f. 14/02/2013. Inserted by Act 22 of 2013 published in K. G. Ext. No. 1162 dt. 25/04/2013 (w.e.f.28/04/2010). Inserted by Act 22 of 2013 published in K. G. Ext. No. 1162 dt. 25/04/2013 (w.e.f.05/06/2007). Added by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Substituted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Prior to the Substitution it read as " (9) Every co-operative society shall cause to be audited by an auditor or auditors or team of auditors referred to in sub-section (8) appointed by the general body or special general body from among the panel of auditors approved by the Director of Cooperative Audit: Provided that if there are no auditors available from the above panel, the general body of a society may appoint auditing firms from among a panel approved by the Director of Cooperative Audit." Substituted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Prior to the Substitution it read as "(10) The financial accounts of all apex societies shall be audited by auditing firms from among the panel approved by the Director of Cooperative Audit and the administrative matters and related accounts of assisted apex societies shall be audited by the departmental auditors from among the panel approved by the Director of Cooperative Audit as may be prescribed and submit the audit reports to the Director of Cooperative Audit." Substituted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Prior to the Substitution it read as "who need not be" Inserted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024).