Section 102 in Tamil Nadu Co-operative Societies Rules, 1988
102. Procedure for conducting.audit.
(1)The audit under section 80 shall in all cases extend back to the last date of the previous audit and shall be carried up to the last date of the [financial year] [Substituted for 'co-operative year' by SRO A-1(a)/ 2013 - G.O. Ms. No. 10, Co-operation, Food and Consumer Protection (Cj1), dated 31.1.2013, w.e.f. 31.1.2013.] immediately preceding the audit.(2)[ The Registrar (Audit) shall, where the audit is done by an auditor of the Government or an auditing firm, obtain from such auditor or auditing firm an audit memorandum on the accounts and on every balance sheet and profit and loss account examined by Kim, or it and in the audit memorandum, the auditor or the auditing firm who or which does the audit shall state whether in his or its opinion and to the best of his or its information and according to the explanation given to him or to it the said accounts give a true and fair picture-(i)in the case of the balance sheet, of the state of the society's affairs as at the end of the financial year; and(ii)in the case of the profit and loss account, of the profit and loss for the financial year.(3)The auditor of the Government or the auditing firm who or which does the audit shall also state in the audit memorandum-(a)whether he or it has obtained all the information and explanations which to the best of his or its knowledge and belief, were necessary for the purpose of his or its audit;(b)whether, in his or its opinion, proper accounts and books as required by the Act and Rules and the by laws of the society have been kept and regularly maintained by the society so far it appears from his or its examination of these books; and(c)whether the society's balance sheet and profit and loss account dealt with by the memorandum are in agreement with accounts, books and returns.(4)Where any of the matters referred to in sub-rule(3) is answered in negative or with a qualification, the auditor or auditing firms who or which does the audit shall specify the reasons for the answer in the audit memorandum.(5)The audit memorandum shall contain schedules with full particulars of-(i)all transactions which appear to be contrary to the provisions of the Act and Rules or the by-laws of the society;(ii)all sums which ought to have been but have not been brought into account by the society;(iii)any material impropriety or irregularity in the expenditure or in the realisation of moneys due to the society;(iv)any money or property belonging to the society which appears to the auditor or auditing firm who or which does the audit to be bad or doubtful debts; and(v)any other information as may be required by the Registrar (Audit) in this behalf.][***] [Sub-rule (6) omitted by SRO A-1(a)/ 2013 - G.O. Ms. No. 10, Co-operation, Food and Consumer Protection (Cj1), dated 31.1.2013, w.e.f. 31.1.2013.](7)[ On completion of the audit, the Registrar (Audit) or the auditor or auditing firm shall award an audit classification letter to the society whose accounts have been audited, in accordance with the instructions of the Registrar (Audit) issued from time to time.] [Substituted by SRO A-l(a)/ 2013 - G.O. Ms. No. 10, Co-operation, Food and Consumer Protection (Cj1), dated 31.1.2013, w.e.f. 31.1.2013.](8)After every audit, the Registrar (Audit) shall communicate the result of audit and grant an audit certificate and a copy of the audit memorandum specified in sub-rule (2) duly signed by him to the society concerned under copy to the federal society concerned and the officer in charge of administration of the society. While communicating the audit memorandum, the Registrar (Audit) may modify or expunge any portion thereof which appears to him to be objectionable or not justified by facts.(9)The society shall publish-(i)the audit certificate;(ii)the profit and loss account; and(iii)the balance sheet,in the manner specified by the Registrar (Audit) and shall also keep them open for inspection by any member of the society. The summary of the audit memorandum shall also be read out at the general meeting of the society.
