Section 62(1) in The Orissa Co-operative Societies Act, 1962
(1)(i)The Auditor-General shall audit, or cause to be audited by an Auditor duly authorised by him in that behalf, the accounts of every Society for each Co-operative year, and complete such audit within six months of the closure of the year, at least once or for such number of times as may be directed by the State Government from time to time in respect of any Society or class of Societies.[Provided that the Auditor General of Co-operative Societies, Orissa may engage one or more Chartered Accountants to cause the audit of the accounts of the Co-operative Society and the fees shall be paid by the Society both to the Chartered Accountant and the Government for the audit of its accounts for each Co-operative year at such rate as may be fixed by the Government.][Provided further that the accounts of the Orissa State Co-operative Bank and the Central Co-operative Bank shall be audited by the Chartered Accountants from the panel approved by the National Bank.] [Inserted by Orissa Act 1 of 2008 Section 21 (a) & (b) (O.G.E. No. 654 dated 20.3.2008).];(ii)The Auditor-General may, of his own motion or on a requisition from the Registrar and shall, on a directive from the State Government, arrange for special audit, re-audit or concurrent audit of the accounts of any Society or class of Societies on day-to-day or such other basis as may be directed.(iii)The Auditor-General shall so arrange the audit that the same Auditor shall not audit the accounts of the same Society for two consecutive Co-operative years.(iv)A Society having an annual business turnover of more than twenty-five lakhs, shall arrange for internal audit of its accounts on a day-to-day basis or on such basis as may be directed by the Auditor-General.](v)[ Save as otherwise provided in clause (ii), on the recommendation of the Reserve Bank of India, a special audit of the Orissa State Co-operative Bank and the Central Co-operative Bank shall be conducted in the manner and within the time stipulated by the Reserve Bank of India and a report thereof shall be submitted to the Reserve Bank of India and the National Bank.] [Inserted by Orissa Act 1 of 2008 Section 21 (a) & (b) (O.G.E. No. 654 dated 20.3.2008).]
