Section 57 in The Assam Co-operative Societies Act, 1949
57. Nature of audit.
- The audit shall include-(i)a verification of the balance and securities;(ii)a verification of the balance at the credit of the depositors and creditors and the amounts due from the debtors of the society;(iii)an examination of overdue debts, if any;(iv)valuation of the assets including stock verifications, and liabilities of the society :(v)an examination of the statement of accounts and balance-sheets to be prepared by the managing body of the society in such forms as may be prescribed;(vi)a certification of the realised profits; and(vii)any other relevant matter.
