Section 102(2) in Tamil Nadu Co-operative Societies Rules, 1988
(2)[ The Registrar (Audit) shall, where the audit is done by an auditor of the Government or an auditing firm, obtain from such auditor or auditing firm an audit memorandum on the accounts and on every balance sheet and profit and loss account examined by Kim, or it and in the audit memorandum, the auditor or the auditing firm who or which does the audit shall state whether in his or its opinion and to the best of his or its information and according to the explanation given to him or to it the said accounts give a true and fair picture-(i)in the case of the balance sheet, of the state of the society's affairs as at the end of the financial year; and(ii)in the case of the profit and loss account, of the profit and loss for the financial year.
