Section 14 in M.P. Farmers' Organisation Rules, 1999
14. Financial Audit.
- At the end of each financial year, and not later than three months after the commencement of the new financial year, each of the Farmers' Organisation shall cause its accounts to be audited as follows :-(i)the Managing Committee shall appoint an Auditor who has adequate experience in normal auditing work;(ii)the Auditor so appointed shall be a person of repute in the area of operation of the Farmers' Organisation, who has reasonable knowledge in accounts;(iii)the appointment of the Auditor shall be approved by-the Managing Committee of the Farmers' Organisation;(iv)the Auditor so appointed shall take all steps necessary to scrutinise the accounts of receipts and expenditure, within thirty days from the date of his appointment and furnish the audit report along with the statement of accounts and balance-sheet to the President of the concerned Farmers' Organisation;(v)the audit report shall be submitted to the General Body in its meeting for its approval;(vi)the Managing Committee of a Farmers' Organisation shall provide the audit report to the General Body; and(vii)if the overall transactions exceed Rs. 10 lakhs per annum, the Farmers' Organisation shall engage a Chartered Accountant for audit of accounts.
