Section 79(8) in The Delhi Co-operative Societies Rules, 2007
(8)A Chartered Accountant shall not be appointed as auditor of the co-operative society if, he holds membership in that co-operative society or an employee of that co-operative society.Explanation I. - For purposes of this Chapter, audit shall include technical and special audit, concurrent audit and re-audit. However in case of re-audit and special audit Registrar shall not pass order without giving reasonable opportunity to the co-operative society and the auditor concerned.Explanation II. - Concurrent Audit shall be conducted in respect of the following type of cooperative societies by the auditor appointed under the Act: -(a)All co-operative housing societies, which have been allotted land until the construction of buildings and super structure is completed;(b)Delhi Co-operative Housing Finance Corporation Limited and Delhi Consumer Co-operative Wholesale Store Limited, in case internal auditor has not been appointed;(c)Co-operative Societies / Federations whose turnover exceeds rupees five crores :Provided that in case of Financing bank and Co-operative urban banks, concurrent auditor shall be appointed in terms of guidelines issued by NABARD/Reserve Bank of India, as the case may be.
