Section 64(1) in The U.P. Co-operative Societies Act, 1965
(1)The Registrar, or any other person appointed by the State Government, shall audit or cause to be audited by a person authorised by him by general or special order in writing and possessing such qualifications as may be specified by the State Government in this behalf, accounts of every co-operative society, [within six months of the close of the financial year to which such accounts relate] [Substituted for 'at least once in each co-operative year' by U.P. Act 13 of 2013, Section 5(a) (w.r.e.f. 15-2-2013).]:[Provided that the audit of a Co-operative Bank shall be conducted by the Chartered Accountants from the panel approved by the National Bank. Chartered Accountant shall be appointed by the concerned bank from the approval panel. The fees of Chartered Accountants shall be determined and paid by the concerned bank.Explanation. - For the appointment of Chartered Accountants the panel approved by the National Bank shall be accepted by the Committee of Management of the concerned bank and thereafter the Chartered Accountants shall be appointed by the Chief Executive Officer/Secretary of the bank.] [Substituted by U.P. Act No. 9 of 2011, Section 4.]
