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AUPE MULTI-PURPOSE CO-OPERATIVE
SOCIETY LTD |
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11 |
THE AUDITORS |
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11.1 |
The books and accounts of the Society shall be audited by an external auditor authorised by the Registrar, once at least in every year. The auditor shall inspect and audit the accounts and other relevant records of the Society and shall forthwith draw the attention of the Registrar and the Society to any irregularity disclosed by the inspection and audit that is, in his opinion, of sufficient importance to justify his so doing. |
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Audit and
Duties of the
External
Auditor |
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11.2 |
The external auditor shall report: |
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(a) |
whether the financial statements show fairly the financial transactions and the state of affairs of the Society; and |
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(b) |
such-other matters arising from the audit as he considers should be reported. |
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11.3 |
The external auditor shall state in his report whether: |
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(a) |
proper accounting and other records have been kept; |
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(b) |
the receipt, expenditure and investment of moneys and the acquisition and disposal of assets by the Society during the year have been in accordance with the Act, the Rules and these By-laws. |
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11.4 |
The external auditor may at any other time report to the Registrar and the Society upon any matters arising out of the performance of the audit. |
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11.5 |
The audit of the account shall include an examination of a report on overdue debts, if any, and an examination of and report on the valuation of the assets and liabilities of the Society. |
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11.6 |
An external auditor authorised by the Registrar under the Act shall have the powers prescribed under the Act. |
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11.7 |
Not more than six internal auditors, who shall not be members of the Board or of any Committee, shall be elected yearly at the Annual General Meeting of the Society. Internal auditors shall investigate, examine or audit the books of the Society monthly and shall sign them if correct and if they are found to be incorrect to report to the Chairman. They shall be responsible for the accuracy of the annual and other periodic returns which the Registrar may require or prescribe. Any vacancy arising during their term of office shall be filled by appointment by the Board. |
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Internal Auditor |
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11.8 |
An internal auditor may be paid an allowance by the Society for the performance of duties provided that the payment has to be authorised by a resolution to the effect passed by a general meeting of the Society and the amount shall not exceed a sum to be fixed from time to time by the Registrar. An internal auditor shall not be eligible to receive an honorarium. |
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Payment of
Allowance to
Internal Auditor |
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