Co-Operative Societies Act · 2015 Revised Edition · Part VI · Audit, Inspection and Inquiry
Section 34C
Official textFrom Attorney General's Chambers, unchanged
The auditor shall inspect and audit the accounts and other relevant records of the society and shall forthwith draw the attention of the
Registrar and the society to any irregularity disclosed by the inspection and audit that is, in the opinion of the auditor, of sufficient importance to justify his so doing. The financial statements submitted by the society after the close of the financial year shall be audited and reported on by the auditor.
Registrar
“Registrar” means the Registrar of Co-operative Societies appointed under section 3 and includes any person when exercising such powers of the Registrar as may be conferred upon him under that section;
The auditor shall report —
whether the financial statements give a true and fair view of the financial transactions and the state of affairs of the society; and
such other matters arising from the audit as he considers should be reported.
The auditor shall state in his report whether —
proper accounting and other records have been kept; and
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the receipt, expenditure and investment of moneys and the acquisition and disposal of assets by the society during the year have been in accordance with the by-laws and the provisions of this Act and the rules.
The auditor may at any other time report to the Registrar and the society upon any matters arising out of the performance of the audit.
The audit of the accounts of a registered society shall include an examination of and report on overdue debts, if any, and an examination of and report on the valuation of the assets and liabilities of the society.
registered society
“registered society” means a co-operative society registered under this Act;
Terms defined in s 2
by-laws
Defined · s 2“by-laws” means the registered by-laws made by a society in the exercise of any power conferred by this Act, and includes a registered amendment of the by-laws;
registered society
Defined · s 2“registered society” means a co-operative society registered under this Act;
Registrar
Defined · s 2“Registrar” means the Registrar of Co-operative Societies appointed under section 3 and includes any person when exercising such powers of the Registrar as may be conferred upon him under that section;
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Disputes
Part X
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