Section 75(3) in The Goa Co-operative Societies Act, 2001
(3)The auditor of the society shall also examine the following before he submits his report.(a)Whether a society has maintained proper records showing particulars including quantitative details and situation of fixed assets;(b)Whether the fixed assets have been periodically physically verified by the management of the society and the discrepancy, if any, is considered in the books;(c)Whether loans and advances made by the society on the basis of security have been properly secured and whether the terms and conditions are not prejudicial to the interest of the society;(d)Whether any personal expenses have been charged to income and expenditure account;(e)Whether capital expenses have been charged to income and expenditure account;(f)Whether any expenditure incurred by the society is not in accordance with or not in consonance with its objectives;(g)Whether the society has utilised the financial assistance granted by the Government or any Government undertakings, for the purpose it is granted;(h)Whether there are adequate internal control procedures, commensurate with the size of the society and nature of its business;(i)Whether any purchases and sales are made during the year exceeding Rs. 50,000/- in aggregate from any relative of any director or any company or firm in which directors are interested;(j)Whether any manpower requirement is assessed and recruited as per the recruitment rules.
