Auditing of Co-operatives

[sunandaC]

TYPES OF CO-OPERATIVE SOCIETIES

Consumer ‘s Co-operative society
Producer ‘s Co-operative Society
Co-operative Marketing Society
Co-operative Credit Society
Co-operative Farming Society
Housing Co-operative Society

NEED FOR CO-OPERATIVE AUDIT

True & Fair View
Credit Worthiness
Control on Employees
Working Of Society

STATUTORY PROVISIONS OF CO-OPERATIVE AUDIT

Sec 63(1) of the KARNATAKA CO-OPERATIVE SOCIETIES ACT ,1959
Sec 63(4)
Sec 63(3)
Sec 63 (2) of the KCS ACT, 1959.
Sec 63(5) of the KCS ACT

FEATURES OF CO-OPERATIVE AUDIT

Examination of overdue debts
Adherence to co-operative principles
Observance of the provision of the Act & Rules
Personal Verifications of members & examination of their pass books
Audit classification of society
Discussion of the draft audit report with Managing Committee

OBJECT & ASPECT OF CO-OPERATIVE SOCIETY

Verification Of Books of Accounts
Detection & prevention of Frauds
Examination of Affairs of Society

IMPORTANT ASPECTS-

Audit conducted under the statue
Audit undertaken by Government

ASSETS OF HOUSING SOCIETY

Cash on Hand
Investment
Sundry Debtors
Fixed Assets
Income & Expenditure A/c

 

[bhautik.kawa]

TYPES OF CO-OPERATIVE SOCIETIES

Consumer ‘s Co-operative society
Producer ‘s Co-operative Society
Co-operative Marketing Society
Co-operative Credit Society
Co-operative Farming Society
Housing Co-operative Society

NEED FOR CO-OPERATIVE AUDIT

True & Fair View
Credit Worthiness
Control on Employees
Working Of Society

STATUTORY PROVISIONS OF CO-OPERATIVE AUDIT

Sec 63(1) of the KARNATAKA CO-OPERATIVE SOCIETIES ACT ,1959
Sec 63(4)
Sec 63(3)
Sec 63 (2) of the KCS ACT, 1959.
Sec 63(5) of the KCS ACT

FEATURES OF CO-OPERATIVE AUDIT

Examination of overdue debts
Adherence to co-operative principles
Observance of the provision of the Act & Rules
Personal Verifications of members & examination of their pass books
Audit classification of society
Discussion of the draft audit report with Managing Committee

OBJECT & ASPECT OF CO-OPERATIVE SOCIETY

Verification Of Books of Accounts
Detection & prevention of Frauds
Examination of Affairs of Society

IMPORTANT ASPECTS-

Audit conducted under the statue
Audit undertaken by Government

ASSETS OF HOUSING SOCIETY

Cash on Hand
Investment
Sundry Debtors
Fixed Assets
Income & Expenditure A/c

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