Section 33A in Jharkhand Co-operative Societies Act, 2008
33A. Audit.
(1)The Registrar shall audit or cause to be audited, by an auditor selected from the panel prepared by him, accounts of every registered society once at least in every year. Such auditor shall either be a Chartered Accountant within the meaning of Chartered Accountant Act, 1949 or from the office of the Registrar by general or special order in writing in this behalf.(2)(1) It shall be the duty of the Board/ Managing Committee to ensure that annual financial statements are prepared and presented for audit within forty five days of closure of the co-operative year.(2)Every officer or member of the society shall furnish such information in regard to the transactions and working of the society as the Registrar or the auditor may require.(3)The audit under sub-section (1) shall be conducted according to the Rules, and shall include an examination of over due debts, if any, the verification of the cash balance, fund management, and securities and valuation of the assets and liabilities of the society.(4)The auditor shall submit a report on such examination, verification and valuation within thirty days of such examination in case of Primary Societies and forty five days in case of Central and Apex Societies and shall include in his report a statement of :-(a)every transaction which appears to the auditor to be contrary to law or to the Rules or bye-laws of the society;(b)the amount of any deficiency, waste or loss which appears to have been caused by the culpable negligence or misconduct of any person in the performance of duties(c)the amount of any sum received which ought to have been but has not been brought into account by any person.(d)any material impropriety or irregularity which he may observe in the expenditure or in the recovery of money due(e)any money or property belonging to the society which has been misappropriated or fraudulently retained by any person taking part in the organization or management of the society or by any past or present officer of the society or by any other person.(5)The auditor's report, in addition to the report on the accounts of the registered society shall also contain report on the attendance at meetings by Directors, loans and advances sanctioned to or business done with the registered society by the Directors, expenditure of board meetings, remuneration paid to Directors, expanses reimbursed to Directors, expenditure on education and training for members, staff, directors and others.(6)The Registrar may determine the sum to be paid by any society towards the cost of auditing its accounts under this section, and such shall be paid by the society in such manner as the Registrar may direct.
