Section 57 in Sikkim Co-Operative Societies Act, 1955
57. Nature of Audit.
- The audit shall include'(i)a verification of the cash balance and securities(ii)a verification of the, balance at the credit of the depositors and creditors and of the amounts due from the debtors of the society;(iii)an examination of the overdue debts; if any(iv)the 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, realized profits; and(vii)any other relevant' matter.
