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State of Andhra Pradesh - Section

Section 44 in Andhra Pradesh Co-Operative Societies Rules, 1964

44.

[x x x] [Omitted by G.O.Ms.No. 522, A&C, dated 28-12-2005.][45. Statements and returns to be furnished by a society for audit of its accounts and issue of an audit certificate. - (1) Every Society including a society under winding up shall get its accounts audited atleast once in a year by the Chief Auditor or the person authorised by him. The need to post such audit staff, the strength and the Agency shall be decided by the Chief Auditor keeping in view the guidelines and norms issued by the Government from time to time. The decision of the Chief Auditor shall be final and binding.] [Substituted by G.O.Ms.No.184, A & C, Dated 19-8-1998.]
(2)The committee of every society except the societies specified in first proviso under Rule 46 shall prepare for each Co-operative Year in such form as may be specified from time to time by the Chief Auditor.
(a)Statement showing the receipts, disbursements for the year.
(b)A profit and loss accounts.
(c)A balance sheet; and
(d)Such other statements and returns as may be specified by the Registrar or by the Chief Auditor from time to time.
(3)The Society specified in the first proviso under Rule 46 shall submit a certificate in Form 'L' to the Chief Auditor or the person authorised by him.
(4)The Committees of the Societies shall submit the statements, certificates and returns referred to in sub-rule (2) and sub-rule (3) to the Chief Auditor or to the person authorised by him as the case may be, within three months after the end of the Co-operative Year.
(5)
(i)The Chief Auditor or the authorised person shall verify or cause to be verified the statements and returns so furnished and issued or cause to be issued an audit certificate within three months which shall contain among other things, the following particulars:
(a)the name of the society and the period covered by audit;
(b)the name of the person who audited the accounts for the period;
(c)a statement of receipts and disbursements;
(d)the Profit and Loss accounts;
(e)assets and liabilities of the society;
(f)a statement showing the debts, overdues; and
(g)a certificate of verification of the cash balance and securities.
(ii)the Audit Certificate issued shall be among other things, indicates:
(a)The share capital of the society at the beginning and at the end of the Co-operative Year;
(b)the loans issued and outstanding against members;
(c)the deposits and borrowings of the society;
(d)the net profit earned or net loss sustained by the society;
(e)the amounts to be set apart for statutory reserve fund or other reserves;
(f)the classification in which the society under audit is placed; and
(g)the amount payable by it towards audit or other costs at the end of the year.
(iii)The Society shall publish the audit certificates and such of the statements as the Chief Auditor may direct in the manner directed by him.
(6)All distributive and productive societies shall, in addition to the copies of the statements specified in sub-rule (2) submit at the end of every Co-operative Year to the Chief Auditor or the person authorised by him, a statement of verification of the stock on hand at the close of the Co-operative Year in such forms as may be specified, by the Chief Auditor and within such time as he may direct.
(7)Every Society shall in addition to the statements specified in sub-rule (2) also submit to the Chief Auditor, any statement or return of the nature similar to that described in sub-rule (2) in such form within such time and for such period as the Chief Auditor may specify.
(8)Where any society fails to submit any statements or returns specified in sub-rule (2) or (6) and (7) within the time directed by the Chief Auditor he may depute an officer to prepare the necessary statements or returns and in such a case, it shall be competent for the Chief Auditor to determine the costs with reference to the time involved in the work and the emoluments of the officer deputed to do it and which the Society concerned should pay to the Government in this behalf and to direct its recovery from the Society.[46. (1) Every society in receipt of State aid including a society under winding up or any other society which opts to get the accounts of the society audited through the Chief Auditor shall pay to the Government fees or costs for the audit of its accounts for each cooperative year as specified in the table below:] [Substituted by G.O.Ms No. 37, Agriculture & Coop. (Co-Operative IV), dated 28-1-2002. ]-
Category Audit fee-prescribed
(1) Andhra Pradesh StateCo-operative Bank Ltd., district Cooperative Central Banksand Agricultural Coop. Credit Societies with Working Capital ofRs.1 Crore and above. (a) Full cost of Auditorsdeputedfor concurrent and/or final audit wherecooperative department auditors are deputed under Govt.Fundamental Rule 127 by the Chief Auditor.
(2) All Co-operatives otherthanthe Co-operatives mentioned in Category (1) abovewith Working Capital or turnover as the case may be of Rs.1 Croreand above (b)(i)Fullcost of Auditorsdeputed for concurrent and/or FinalAudit, where cooperative department auditors are deputed underGovt. Fundamental Rule 127 by the Chief AuditorOR(ii) Audit fee at the rateof0.12% on loans and advances or working capital orturnover of the society, whichever is less if the society isaudited by the Circle Auditors subject to a maximum of Rs.1.00lakh (Rupees One lakh only).
(3) All otherCo-operativeSocieties. ((iii)Audit fee atthe rate of 0.12% of the Working Capital orturnover of the society subject to a maximum of Rs.1.00 lakh(Rupees one lakh only).Provided that theCo-operative Institutions with Working Capital/ turnoverof less than Rs.2.00 lakhs shall pay audit fee at the rate of0.12% on Working Capital/turnover subject to a minimum ofRs.100/- (Rupees hundred only)
(4) Where a society requeststheChief Auditor for stock verification, it shall pay tothe Govt. a fee of Rs.200/- per day per head. Where stockverification involves travel whether within the State or outsidethe cost of travel and daily allowance shall be payable bysociety as per the Government rules applicable to such personsdeputed for verification and also an honorarium of Rs.50 per dayper person to the person deputed.]