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Section 57: Nature of Audit.

The Meghalaya Co-operative Societies Act, 2015 (Act No. 11 of 2015)State Act of Meghalaya · Act 11 of 2015

The audit shall include-

(i) a verification of the cash balance and security;

(ii) a verification of the balance at the credit of the depositors and creditors and of the amounts due from the debtors of the co-operative society;

(iiij an examination of overdue debts, if any;

(iv) the valuation of the assets including stock verifications, and liabilities of the co-operative society;

(v) an examination of the statement of accounts and balance sheets to be prepared by the managing body of the co-operative society in such forms as may be prescribed;

(vi) an examination of the utilization of Government financial assistance;

(vii) a certification of the realized profit; and (viii) any other relevant matter.

Where this provision sits

ActThe Meghalaya Co-operative Societies Act, 2015 (Act No. 11 of 2015)
Section57
Marginal noteNature of Audit.
JurisdictionState of Meghalaya
StatusIn force as published by the source

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