(1) Within forty-five days of the close of every co-operative year, or within such extended period, as may be specified by the Registrar in the case of any society or class of societies, the committee of every society shall prepare annual statements of accounts showing, -
(i) receipts and disbursements during the previous co-operative year.
(ii) the profit and loss account for the year, and
(iii) the balance sheet as at the close of the year; and
(iv) such other accounts, as the Registrar may specify for the class of society to which the society belongs.
1[(2) A copy of the above statements of accounts shall be submitted within fifteen days from the date of preparation, to the auditor appointed for the audit of the society as per the provisions of the Act and such statements of accounts shall be open to inspection by any member during office hours at the office of the society.]