Section 80 in The Tamil Nadu Co-Operative Societies Act, 1983
80. Audit.
- [(1) (a) Every registered society shall maintain the accounts and such accounts shall cause to be audited at least once in each financial year by auditors of the Government, or by the auditing firms in respect of such class or classes or category or categories of registered societies as may be prescribed, within the time limit specified in clause (e);(b)The minimum qualifications and the experience of auditors of the Government or auditing firms that shall be eligible for auditing accounts of the registered society shall be such as may be prescribed;(c)In case of appointment of auditing firms, the general body of such class or classes or category or categories of registered societies shall appoint auditing firms from a panel approved by the Government or an authority authorised by the Government in this behalf;(d)The registered society shall prepare the financial statements and other details required for the completion of audit within three months from the close of each financial year;(e)The accounts of every registered society shall be audited within six months from the close of the financial year to which such accounts relate.](2)The audit under sub-section (1) shall include an examination of overdue debts, if any, the verification of the cash balance and securities and a valuation of the assets and liabilities of the society.(3)[The auditor of the Government or the auditing firms appointed] [Substituted for 'The Registrar or the person authorised by him' by Tamil Nadu Act No. 4 of 2013, dated 23.2.2013, w.e.f. 31.1.2013.] under sub-section (1) shall, at all reasonable times, have free access to the books, accounts, documents, securities, cash and other properties belonging to or in the custody of the society and may summon any person in possession of, or responsible for, the custody of any such books, accounts, documents, securities, cash or other properties to produce the same at any place at the headquarters of the society or any branch thereof.(4)Every person who is or has, at any time, been an officer or employee of the society and every member and past member of the society shall furnish such information in regard to the transaction and working of the society [as the auditors of the Government or auditing firms appointed under sub-section (1)] [Substituted for 'as the Registrar or the person authorised by him' by Tamil Nadu Act No. 4 of 2013, dated 23.2 2013, w.e.f. 31.1.2013.] may require.(5)The Registrar may, by order in writing, direct any officer of the society to take such action as may be specified in the order to remedy within such time as may be specified therein the defects, if any, disclosed as a result of the audit.(6)Every registered society shall pay to the Government such fee for the audit of its accounts for each co-operative year as may be fixed by the Registrar in accordance with the rules made in this behalf and the fee levied for audit shall be recoverable in the manner specified in section 148:Provided that the Government may, by general or special order, exempt any registered society or class of registered societies from the payment of the whole or any part of the tee payable for audit for any co-operative year.(7)If the result of the audit discloses any defect, the registered society shall, within three months from the date of communication of the result of the audit, take steps to remedy the defects disclosed as a result of the audit, and report to the Registrar of the action taken by it thereon.(8)If it appears to the Registrar, on an application by a registered society or otherwise, that it is necessary or expedient to re-audit any account of that society, the Registrar may by order provide for such re-audit and the provisions of this Act applicable to audit of accounts of that society shall apply to such re-audit.(9)[ The audit report of the accounts of an apex society shall be laid before the Legislative Assembly of the State in such manner, as may be prescribed.] [Inserted by Tamil Nadu Act No. 4 of 2013. dated 23.2.2013, w.e.f. 31.1.2013.]
