Section 83 in Assam Co-Operative Societies Act, 2007
83. Nature of audit.
(1)The audit shall include among others-(a)a verification of the cash balance and securities;(b)a verification of the balance at the credit of the depositors and creditors and the amounts due from the debtors of the society;(c)an examination of overdue debts, if any;(d)the valuation of the assets including stock verifications, and liabilities of the society;(e)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;(f)a certification of the realised profits; and(g)any other relevant matter.(2)The auditor's report among others shall include -(a)statement whether the auditor has obtained all the information and explanations which to the best of his knowledge and belief were necessary for the purpose of the audit;(b)statement whether the balance sheet of cooperative society and income and expenditure account dealt with by the report are in agreement with the books of accounts;(c)statement indicating the basis on which each asset and liability was valued and mentioned specifically any change in the manner in which such valuation was done in the. financial year under examination and its effect on surplus or deficit;(d)statement indicating the amount of surplus earned or deficit incurred from provision of services to non-members as distinct from surplus earned or deficit incurred because of service to members or in normal course of business;(e)statement indicating every deviation in actual expenses and income from the estimated expenses and income in the approved budget;(f)statement whether or not any of the Directors had at any time during the financial year under review, become ineligible under this Act to continue in office as a Director, and(g)statement whether the decisions on disposal of surplus or assessment of deficit of the general body at its previous Annual General Meeting were implemented correctly and completely or not.
