Co-operative Society Audits – Statutory & Compliance Audits for Co-operative Institutions
Co-operative Societies play a vital role in sectors like agriculture, dairy, housing, credit, and rural development by promoting collective economic participation. Given their member-driven structure and involvement in handling public funds, regular statutory audits are mandated under State Co-operative Acts to ensure financial integrity, compliance, and accountability.
We specialize in conducting comprehensive Co-operative Society Audits covering Credit Co-operatives, Dairy Co-operatives, Agriculture Societies, Housing Societies, Multi-State Co-operatives, and Urban Co-operative Banks. Our audit approach focuses on statutory compliance, financial accuracy, fund utilization, and internal governance structures.
Our services include statutory financial audits, verification of members’ funds and loans, compliance with Co-operative Societies Act provisions, analysis of surplus distribution, examination of internal controls, and review of adherence to regulatory filings and subsidies/grant utilizations. We also assist societies in audit preparation, documentation management, and rectification of audit observations.
Beyond audit certifications, we provide advisory on improving financial discipline, enhancing transparency in member transactions, streamlining accounting processes, and ensuring societies align with state/national co-operative governance frameworks.
Frequently Asked Questions (FAQs)
Yes, all registered Co-operative Societies are required to undergo statutory audits annually as per State Co-operative Societies Act or Multi-State Co-operative Societies Act.
The audit covers verification of financial statements, member capital & loans, fund utilization, statutory compliance, governance practices, and adherence to bye-laws and regulatory norms.
Yes, Housing Societies are required to get their accounts audited annually to ensure transparency in fund collection, maintenance expenditures, and financial reporting to members.
Absolutely. We assist in preparing compliance reports, rectification measures, and ensure timely closure of audit objections raised by Registrar of Co-operative Societies.
Audit & Assurance
- Statutory Audits (Companies Act)
- Internal Audits
- Tax Audits (Income Tax Act)
- Bank Audits (Statutory & Concurrent)
- Forensic Audits
- Management/Operational Audits
- Stock Audits
- Due Diligence Reviews
- System & Process Audits
- ESG/CSR Audits
- Trust & NGO Audits
- Startup Audits
- Municipal Corporation Audits
- CAG Audits
- PSU Audits
- Social Audits (MNREGA, etc.)
- Autonomous Body Audits
- Co-operative Society Audits
- Parliament-tabled Audit Reports
- PSE Audits
CA. Dhiraj Jain
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