Section 155A in West Bengal Co-operative Societies Rules, 2011
155A. Audit under clause (b) of sub-section (1) of section 97 of the Act.
Audit under clause (b) of sub-section (1) of section 97 of the Act shall include the following : (a)examination of over due debts, if any;(b)verification of cash balance, securities and fund investment;(c)valuation of assets and liabilities of the Co-operative and calculation of depreciation of assets;(d)verification of the balance at the credit of the depositors and creditors and the amount due from the debtors of the Co-operative;(e)examination of the statements of accounts to be prepared by the Co-operative society in Form 30 or in such other form as may be provided by any law;(f)examination of the stocks and purchases and checking of the entries in the stock register, purchase register and godown register with challans, invoices and delivery orders etc.;(g)checking of the entry of the cash book with all vouchers and checking of the propriety of the vouchers;(h)verification of closing balance together with reconciliation between stock balance as per stock registers and figures found on physical verification;(i)ascertainment of overdue loans and overdue interest together with year wise classification of overdue loan at the end of the Co-operative year;(j)examination of the provisions of overdue interest in suspense;(k)examination of the non-performing assets and year wise classification of the same;(l)examination of the provisions made in account in regard to the non-performing assets as per directive of the Reserve Bank of India;(m)examination of proper appropriation and investment of different statutory funds;(n)An examination of the monitory transactions including the propriety of the transactions; and(o)any other matter as the Director of Co-operative Audit may by order specify.
