Section 75 in The Goa Co-operative Societies Act, 2001
75. Powers and duties of the auditor.
(1)Every auditor of a society shall have right of access at all times to the books of accounts and vouchers of the society, whether maintained at the head office or at the branches or elsewhere, and shall be entitled to require from the society such information and explanations as the auditor may think necessary for the performance of his duties as an auditor.(2)The auditor shall, after examination of the books of accounts and records, report:-(a)Whether the society has maintained proper books of accounts and records as required by this Act;(b)Whether he has obtained all the information and explanations, which to the best of his knowledge and belief were necessary for the purposes of his audit;(c)Whether the final statement of accounts prepared are in agreement with the books of accounts and records maintained;(d)Whether the final statement of accounts gives true and fair view,-(i)in the case of balance sheet, of the state of affairs of the society as at the end of the co-operative year.(ii)in the case of income and expenditure account, of the surplus or deficit for the co-operative year.(e)Whether report of the branch auditors, not audited by him has been considered, and how he has dealt with the same in preparing his report;(3)The auditor of the society shall also examine the following before he submits his report.(a)Whether a society has maintained proper records showing particulars including quantitative details and situation of fixed assets;(b)Whether the fixed assets have been periodically physically verified by the management of the society and the discrepancy, if any, is considered in the books;(c)Whether loans and advances made by the society on the basis of security have been properly secured and whether the terms and conditions are not prejudicial to the interest of the society;(d)Whether any personal expenses have been charged to income and expenditure account;(e)Whether capital expenses have been charged to income and expenditure account;(f)Whether any expenditure incurred by the society is not in accordance with or not in consonance with its objectives;(g)Whether the society has utilised the financial assistance granted by the Government or any Government undertakings, for the purpose it is granted;(h)Whether there are adequate internal control procedures, commensurate with the size of the society and nature of its business;(i)Whether any purchases and sales are made during the year exceeding Rs. 50,000/- in aggregate from any relative of any director or any company or firm in which directors are interested;(j)Whether any manpower requirement is assessed and recruited as per the recruitment rules.(4)[ The auditor of the society shall submit a copy of the audit report together with the accounts to the Registrar in such form as may be specified by the Registrar, within thirty days from the date of the audit.] [Substituted by the Goa Co-operative Societies (Amendment) Act, 2009.](5)[ On completion of the statutory audit, the auditor shall award audit classification to the society whose accounts he has audited in accordance with the instructions issued by the Registrar from time to time.(6)The Registrar or the person authorized by him to conduct the audit may summon any person in possession or responsible for the custody of any such books, accounts, papers, documents to produce the same at any place at the Headquarters of the society or any branch thereof.] [Inserted by the Goa Co-operative Societies (Amendment) Act, 2009.]
