- 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 Executive 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;(iii)the Auditor so appointed shall take all steps necessary to scrutinise the accounts of receipts and expenditure and furnish the audit report along with the statement of accounts and balance sheet to the President of the concerned Farmers' Organisation, duly attesting the same;(iv)the Audit Report shall be submitted to the General Body in its meeting for its approval;(v)the Executive Committee of a Farmers' Organisation shall furnish the implementation report to the General Body on all matters as pointed out in the audit report and the Executive Committee shall implement the decisions of the General Body in this regard; and(vi)if the overall transactions exceed Rs.10,00,000 (Rupees ten lakh) per annum, the Farmers' Organisation shall engage the services of a Chartered Accountant;(vii)the fees for the Auditor shall be as may approved by the executive committee of the Farmers' Organisation.
