Audit & Attestation
Co-operative Society Audit
Statutory audit of co-operative societies other than housing and banking societies.
Overview
Audit of co-operative societies is undertaken under the relevant State Co-operative Societies Act and the rules made thereunder, covering credit, consumer, producer and other categories of society.
The engagement includes reporting in the prescribed audit format together with the audit classification of the society, and is performed in accordance with the Standards on Auditing issued by the ICAI.
Scope & areas covered
- Statutory audit under the applicable State Co-operative Societies Act
- Verification of member and share records
- Examination of statutory reserves and appropriation of profits
- Reporting in the prescribed form and audit classification
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