The provisions for Audit as Per Section 17 of the Co-operative Society Act, 1912 −
The Registrar shall audit or cause to be audited by some person authorized by him by general or special order in writing on his behalf, the accounts of every registered society once at least every year.
The Audit under sub-section (1) shall include an examination of overdue debts, if any, and a valuation of the assets and liabilities of the society.
The Registrar, the Collector or any person authorized by general or special order in writing on his behalf by the Registrar, shall at all-time have access to all the books, accounts, papers and securities of a society, and every officer of the society shall furnish such information concerning the transactions and working of the society as the person making such inspection may require.
Qualification of Auditor
A chartered accountant within the meaning of the Chartered Accountant Act-1949, Or,
A person who holds a government diploma in Co-operative Accounts or in Cooperation and Accountancy; or,
A person who has served as an Auditor in the co-operative society department of the State Government and whose name has been included by the Registrar on the Panel of Certified Auditors maintained and published by him in the official Gazette at least once every year.
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