Section 29 in Tamil Nadu Farmers' Management of Irrigation Systems Rules, 2002
29. 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 the Farmers' Organisation who has reasonable knowledge in accounts or any recognised auditor.(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 of his appointment and furnish the audit report along with statement of accounts and balance sheet to the President of the concerned Farmers' Organisation, duly attesting the same.(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 furnish the implementation report to the general body on all matters so pointed out in the audit report and the Managing Committee shall implement the decisions of the general body in this regard, and(vii)If the overall transactions exceed Rs. 10.00 lakhs per annum, the Farmers' Organisation shall engage the services of a Chartered Accountant.
